The Public Audit Amendment Act: Groundbreaking for South Africa if properly implemented

On 21 November 2018, the 2017/2018 consolidated national and provincial audit outcomes report was released, which indicated a discouraging fourth consecutive year of regressive compliance with laws and regulations. Fittingly, the long-awaited Public Audit Amendment Act, Act 5 of 2018 (“the Amendment Act”), which substantially amends the Public Audit Act, Act 25 of 2004 (“the […]

5 Common small business money mistakes

Of all the roles a small business owner takes on, often the most challenging is managing the business’s finances. You can improve your chances for success – and your profitability – by being aware of and steering clear of these common small business money mistakes.  Insufficient cash Insufficient cash is one of the leading causes of […]

Borrowing to purchase listed shares – 100% tax ineffective?

  Where a person borrows money to purchase shares, the general rule would be that the interest paid on the funds borrowed to fund that acquisition would not be deductible for tax purposes, the reason being that the interest expense is not incurred in the production of “income”.[1]+[2] Similarly, interest paid cannot be said to […]