PRN Advisory & Tax Services

Navigating tax regulations can be challenging, especially when it comes to specific areas like input tax on motor vehicles. Here, we break down the key points from the SARS guidelines to help you understand how input tax applies to motor vehicles.

A guide to how input tax applies to your motor vehicle - PR Niven & Company Navigating tax regulations can be challenging, especially when it comes to specific areas like input tax on motor vehicles. Here, we break down the key points from the SARS guidelines to help you understand how input tax applies to motor…

Dividends Tax is a levy on shareholders receiving dividends from their investments. On our blog, we discuss why Dividends Tax was introduced, who pays Dividends Tax and the rates. You can read more below...

What is Dividends Tax? - PR Niven & Company Dividends Tax is a levy on shareholders when they receive dividends from their investments. This tax is typically withheld by a withholding agent, such as the company paying the dividend or a regulated intermediary. Here’s a concise overview to help…

The two-pot retirement system; who stands to benefit, and what is the rationale behind it? In our blog, we answer these questions and discuss how the two-pot system operates.

Two-Pot Retirement System: A New Era in Financial Flexibility - PR Niven & Company In the ever-evolving landscape of retirement planning, a groundbreaking reform is set to revolutionize how we approach our golden years: the Two-Pot Retirement System. This innovative approach allows retirement fund members to make partial withdrawals from their retirement funds before…

In recent years, the process of complying with tax obligations as a small business has undergone significant streamlining and simplification. Read our comprehensive guide to help you navigate the landscape of tax compliance for your small business.

Tax Compliance for Small Enterprises - PR Niven & Company In recent years, the process of complying with tax obligations as a small business has undergone significant streamlining and simplification. These changes have been implemented to support the growth and development of small enterprises, making it easier for them to…

The implementation of the Beneficial Ownership Register by the CIPC marks a significant step toward enhancing corporate transparency. Read more on the blog on the definition of a Beneficial Owner and the filing requirements for companies.

Enhancing Corporate Transparency with the Beneficial Ownership Register - PR Niven & Company In a bid to bolster corporate transparency and combat financial crimes such as money laundering and terror financing, the Companies and Intellectual Property Commission (CIPC) in South Africa is set to implement a Beneficial Ownership (BO) register. This initiative aims…

Businesses may find themselves needing to deregister their VAT registration for various reasons. On our blog, we discuss the reasons and process of VAT Deregistration.

Mastering VAT Deregistration: A guide for South African businesses - PR Niven & Company Under the VAT Act, businesses meeting certain turnover thresholds are required to register for VAT and charge it on applicable goods and services. However, circumstances change, and businesses may find themselves needing to deregister their VAT registration for various reasons.…

The issuance and redemption of shares significantly influence the financial framework of companies in South Africa. On our blog, we explore the complexities of share cancellation and issuance to gain a deeper insight into their implications for businesses.

Cancellation and Issuance of Shares in South Africa - PR Niven & Company Within the dynamic realm of corporate governance, the issuance and redemption of shares significantly influence the financial framework of a company. In South Africa, these activities are governed by rigorous legal frameworks, underscoring the importance of transparency and equity. Let’s…

Understanding the intricacies of director and shareholder changes is crucial. Our blog discusses what plays a pivotal role in determining the structure and functions of a company’s leadership.

Understanding the Memorandum of Incorporation - PR Niven & Company In the dynamic landscape of corporate governance, understanding the intricacies of director and shareholder changes is crucial. One key document that plays a pivotal role in determining the structure and functions of a company’s leadership is the Memorandum of Incorporation…

One of the options available to small business owners, is Turnover Tax, a simplified tax regime designed to ease the tax burden on micro and small businesses. Read more on our blog.

Getting a grip on Turnover Tax in South Africa - PR Niven & Company Understanding the tax landscape is essential for small businesses in South Africa to maintain financial stability and growth. One of the options available to them is the Turnover Tax, a simplified tax regime designed to ease the tax burden on…

As of 1 April 2023, SARS requires trustees in South Africa to disclose the details of the trust beneficiaries. Trustees must lodge and keep up-to-date records of the beneficial ownership of the trusts, the trust founders, other trustees and any person holding control. Read more on our blog...

New reporting obligations for trusts - PR Niven & Company A trust refers to a legal arrangement that allows someone to hold assets, without ownership, for the interest of the people for whose benefit the trust is administered. There are two main types of trusts: A trust between living persons,…

Customs clearance is a critical step in importing and exporting goods in South Africa. This blog will examine the required documents and steps to ensure a seamless customs clearance process.

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Customs Clearance in South Africa: Validating Your Customs Documents - PR Niven & Company Customs clearance is a critical step in importing and exporting goods in South Africa because it ensures that the appropriate taxes and duties are calculated and adhere to the regulations set by the government. This segment will examine the required…

Business rescue requires careful planning, expert counsel, and open communication to mitigate the impact on employees, creditors, and shareholders. Read more on our blog:

Navigating the Turbulent waters of Business Rescue - PR Niven & Company Falling into business rescue is challenging and complex, with far-reaching implications for various stakeholders. In our previous blog, we looked at what business rescue means and how it impacts stakeholders. In this segment, we’ll discuss the operational challenges and guide…

Business rescue is a legal mechanism that offers a lifeline to struggling businesses. Read more on our blog:

The Impact of Falling into Business Rescue - PR Niven & Company In the complex and dynamic business world, even the most well-established companies can face financial distress and operational challenges that threaten their survival. Business rescue is a legal mechanism that offers a lifeline to struggling businesses. The process aims to…

The Voluntary Disclosure Programme (VDP) was strategically implemented to allow individual, company or trust taxpayers to regularise and remain compliant in their tax affairs. Read more on our blog:

Voluntary Disclosure Relief by SARS - PR Niven & Company The Voluntary Disclosure Programme (VDP) was strategically implemented to allow individual, company or trust taxpayers to regularise and remain compliant in their tax affairs. SARS encourages taxpayers to voluntarily disclose their neglect under the VDP to avoid penalties and criminal…

One cannot escape the fact that AI is the way of the future. Read on our blog about the six ways to harness the power of AI for your business.

Harness the power of Al - PR Niven & Company What is AI? Artificial intelligence (AI) refers to the science that simulates human intelligence in machines, thus enabling them to think and learn as we do. The aim is to allow machines to perceive, reason, judge and make decisions in…

Section 13 and Section 13quin of the Income Tax Act – What’s the difference?

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Section 13 and Section 13quin of the Income Tax Act – What's the difference? - PR Niven & Company Section 13 or s13 of the Income Tax Act refers to the tax advantages that property investors can claim on their buy-to-let property. Section 13quin or s13quin refers to buildings such as office buildings, retail stores and warehouses used for…

The Employment Equity Act, enforced by the Department of Labour, is the law that protects you from unfair treatment and any form of discrimination, promotes equity and sees that all employees get equal opportunities.

Read more on the EE Act on our blog:

Employment Equity – The details and when and how to submit - PR Niven & Company Employment Equity broadly refers to workplace implementations to avoid employment barriers, fix past discrimination, prevent future obstacles and improve access to fair work by members of all levels and occupations in the workforce. The Employment Equity Act, enforced by the…

SARS has implemented several updates for the upcoming Personal Income Tax (PIT) Filing Season. Please read more on our blog.

https://www.prnc.co.za/2023/06/21/what-updates-have-been-made-by-sars-for-the-upcoming-personal-income-tax-pit-filing-season/

The tax season for individuals is drawing near, and due to the submission influx at the start of the season, SARS has started early with their notifications.

A scope on income tax for companies and individuals - PR Niven & Company The tax season for individuals is drawing near, and due to the submission influx at the start of the season, SARS has started early with their notifications. The 2023 tax return filing dates are outlined for individuals who: File online…

On our blog, read more on the impact of load shedding from a business and economic perspective.

The impact of load shedding on business and the economy - PR Niven & Company It has been over a decade since South Africans first experienced load shedding. Although we’ve forcibly adjusted to the stages and plan our days accordingly, the long-term impacts on business and our economy still hit hard. Load shedding was first…

May signals employers to get their proverbial business house in order with deadlines fast approaching for EMP501 Employers Annual Reconciliation and Workman’s Compensation Assessment. Read about possible penalties and more on our blog.

May marks D-Dates for Employer Reconciliations - PR Niven & Company May signals employers to get their proverbial business house in order with deadlines fast approaching for EMP501 Employers Annual Reconciliation and Workman’s Compensation Assessment. (WCA) due at the end of this month. The Employers Annual Reconciliation or EMP501 is a…

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https://www.prnc.co.za/2023/05/08/budget-2023-highlights/

Contact PRNC to get better acquainted and make sense of your tax situation, especially regarding tax tables, rebates and thresholds.

Visit our blog for highlights on the Budget Speech of 2023.

https://www.prnc.co.za/2023/05/08/budget-2023-highlights/

On our blog, we answer a few questions and answers to bring clarity to the matters of tax clearance certificates.

Tax clearance certificates - PR Niven & Company A tax clearance certificate is a three-letter word that plays on many people’s lips, especially if you are a South African ex-pat dealing with SARS from abroad. In short, a tax clearance certificate is an official document that shows that…

On our blog, we consider how to plan for taxes, especially if you are onshore or a South African resident earning an income abroad.

Tax planning and its purpose - PR Niven & Company If you are a South African resident, you are subject to being taxed on your income, irrespective of where you earned it. In our blog on financial emigration, we discussed financial emigration from South Africa and the implications on your…

If you qualify as a freelancer or self-employed, you must submit a personal income tax.

Read more on Tax Matters on our blog.

Tax matters 101: Corporate Tax - PR Niven & Company South African corporate tax refers to annual income tax payable on salaries, commissions, fees etc., by all registered businesses or business owners who are self-employed, in a business, companies or close corporations to the South African Revenue Service (SARS). Generally,…

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Being an RSA tax resident means you are taxed on your worldwide income. Read more on emigration and your finances on our blog.

Emigration and your finances - PR Niven & Company According to the Merriam-Webster Dictionary, “the word immigrant is used when talking about the country moved to. Emigrant is used when talking about the country moved from. Someone is an emigrant when they leave their country of origin and an…