Our Monthly Legislation and Standards Update provides a summary of some of the most important legislation updates from the previous month.
WHAT YOU WILL LEARN
After attending this webinar you will:
- Be aware of the latest legislative changes and what it means for your business, practice, and your clients;
- Be able to inform your staff and clients on how to stay compliant;
- Adapt business models to fit new legislative landscapes;
- Receive references to documents and guides;
- Have access to your own technical resource; and
- Have access to the presenter via email for follow-up Q & A.
Fasset in partnership with SAIBA and in association with SAAA is offering this webinar to you free of charge.
To qualify for the free webinar, you need to do the following:
- Register and pay to attend
- Send an email to - firstname.lastname@example.org before 6 December 2019 to obtain pre approval from Fasset to receive a refund (this is for Fasset registered employers).
NB. If you are NOT registered with Fasset as a levy or non levy payer you can still attend the webinar.
Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.
Technical expert Lettie Janse van Vuuren CA(SA), RA researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.
The webinar includes:
- A reference guide of all changes to share within the firm;
- Slide presentation summary of all new amendments;
- Interactive session with the presenter; and
- Online Q&A.
Study unit 1
SARS: Guides (new, updated & issued)
- Updated Guide on the determination of medical tax credits (Issue 10)
Study unit 2
SARS: Interpretation Notes (updated & issued)
- Interpretation Note 99 (Issue 2) – Unclaimed benefits
- Draft Interpretation Note 16 (Issue 3) – Exemption from income tax: Foreign employment income
Study unit 3
SARS: Binding Rulings (Private/Class/General) issued
- BPR 330 – Distributions of dividends from a trust to beneficiaries on termination of employment
- BCR 069 – Employee share ownership plan
Study unit 4
SARS: Notices and other publications issued
- 2019 TLAB & TALAB published FAQs:
Foreign employment income exemption (Issue 2)
Study unit 5
SARS: Tax cases
- IT 14434/2019 – Whether the Appellant was entitled to a building allowance in the tax year claimed
- Supreme Court of Appeal: Atlas Copco South Africa (Pty) Ltd vs CSARS – The appeal turns on the interpretation and application of s 22(1) of the Income Tax Act 58 of 1962 (the Act), relating to the value of a taxpayer’s trading stock at the end of a year of assessment
Study unit 6
IFRS: Standards – What’s new?
- IFRS Monthly news summary
Study unit 7
- Use of the RA designation
Study unit 8
CIPC: Notices and Practice Notes issued (enforcement and to customers)
- CIPC e-mail protocols
- Compulsory Name Reservation of co-operatives
- Processing Requirements for Removal of Co-Operative Directors
- Unexpected filing notifications received after pilot resting iXBRL
- Which Companies Should Submit AFS’s in the iXBRL format?
Study unit 9
CIPC: Companies Tribunal
- 11 Decisions reached on cases heard (5 Name disputes, 1 AGM, 3 Exemptions from SEC, 0 Directorship dispute, 2 Reviews)
Study unit 10
Labour Law: Employment law
- South African fathers have new paternity leave rights – here’s what you need to know
- UIF to start paying out paternity leave benefits from 1 November 2019
- BCEA – W&R wage tables corrected
- Department of Employment and Labour takes tough stance against Spar franchisee
Study unit 11
Other Laws & Regulations affecting your client AND impact on NOCLAR: This month’s big 5 include:
- The Administrative Adjudication of Road Traffic Offences Act (Draft Regulations);
- The Competition Act (Draft Regulations)
- The Films and Publications Act (Amendment Act 2019)
- The Promotion of Administrative Justice Act (Administrative Review Rules); and
- The Property Practitioners Act (Dealt with as a separate topic)
Study unit 12
Other Laws & Regulations affecting your client AND impact on NOCLAR: This month’s little 5 include:
- The Companies Act and the Close Corporations Act (Electronic filing channel)
- The Competition Act (Draft Enforcement Guidelines for the Draft Buyer Power Regulations and the Draft Price Discrimination Regulations)
- The Intimidation Act (Constitutional Court order)
- The Special Investigating Units and Special Tribunals Act (South African Health Products Regulatory Authority)
- The Special Investigating Units and Special Tribunals Act (Special Tribunal rules)
Study unit 13
Other Laws & Regulations affecting your client AND impact on NOCLAR:
- Other Acts and articles
- New Property laws signed by the president - Electronic Deeds Registration Systems Bill of 2019 - Property Practitioners Act of 2019
- Section 44 of the Companies Act and Post Acquisition Finance
- Do not trust a trustee (without the necessary authority)
Study unit 14
Regulator news: IRBA News & press releases
- 21 percent of JSE-listed companies have changed their auditors ahead of MAFR deadline
- IRBA achieves a decade of clean audit opinions
- Slight improvement in perception of auditing and accounting standards and shareholder governance
Study unit 15
Regulator news: Professional bodies press releases & other publications
- Top tips for SMPs (Small and Medium Practices)
- How SMPs can build a strong digital brand
- The Enhanced Auditor’s Report – Post implementation review in South Africa
Study unit 16
Regulator news: FIC Advisory & Guidance
- Case Studies and Indicators Collection
- FATF public statement on jurisdictions with strategic anti-money laundering and counter-terror financing deficiencies
- FATF ongoing process to improve global AML/CFT compliance
Draft Public Compliance Communications issues: - PCC 103 on Non-profit Organisations - PCC 105 on the use of Reliance Agreements by Accountable Institutions for Customer Due Diligence on Shared Clients
Study unit 17
Regulator news: CGSO & National Consumer Commission
- CGSO warns to purchase online with care
- CGSO Annual report released
- The NCC takes a car dealer to the National Consumer Tribunal
Study unit 18
Regulator news: SARS media releases
- Enhancements to the Income Tax Return for Trusts (ITR12T)
Study unit 19
Regulator News: FSCA publications & press releases
- FSCA fines MET Collective Investments Limited R100 million
- FSCA conducts a search at Sekunjalo Investment Holdings (Pty) Ltd
- FSCA welcomes 15-year jail sentence of Mr David Wilmot
- FSCA update on Coinit letter to investors
- 5 Warnings issued to the public against fraudulent FSPs
Study unit 20
General Announcements / News Releases: Media articles
- Beware swiping your card at these card-skimming hotspots
There are no preconditions for this course.
Recorded webinars made available on a specified dates
Lettie Janse van Vuuren
Lettie is a Chartered Accountant, Registered Auditor, as well as an Assessor and Moderator. As a professional trainer and webinar host, she is able to hold the attention of an audience with her relaxed and humorous presentation style. She has a unique ability to communicate with delegates at their respective levels of knowledge and experience. Over the last 20 years, she has trained thousands of partners, managers, trainee accountants and other professionals.
She is responsible for researching, compiling and presenting the SAIBA Quick Update Subscription package.
By attending this webinar, you will be provided with:
- Summarised slide presentation.
- Reference documents and / or course material where available.
- Access to a technical knowledge base.
- Recorded webinar that includes an expert presenter.