Compliance and Legislation Update – January 2020
Our Monthly Legislation and Standards Update provides a summary of some of the most important legislation updates from the previous month.
R 399 VAT Incl.
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.
Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.
The webinar includes:
- A reference guide of all changes to share within the firm;
- PPT summary of all new amendments;
- Interactive session with the presenter; and
- Online Q&A.
- Adhoc – R399
- Subscription Packages: Accountant in Practice, Accountant in Practice plus Tax, Bookkeeper, Quick Update
Study Unit 1: SARS Guides (new, updated & issued):
Updated VAT 404: Guide for vendors
Study Unit 2: SARS Binding Rulings (Private/Class/General) issued:
BPR 336 – Liquidation distribution
Study Unit 3: SARS Notices and other publications issued
The validity period of the Confirmation of Diagnosis of Disability (ITR-DD) form has been extended
Study Unit 4: SARS Tax Court cases
- IT 24614 – Whether the Appellant was entitled to a deduction for what SARS regarded as a loan
- IT 14157 – Whether the Appellant was an independent contractor that was not obliged to deduct SDL & PAYE
Study Unit 5: SARS High Court cases
- Red Ant Security Relocation and Eviction Services (Pty) Ltd v CSARS (2999/18) – Whether applicant entitled to urgent interim interdictory relief in respect of withdrawal of tax compliance status by SARS
- CSARS v Spur Group (Pty) Ltd – Whether contribution to employee share incentive trust in the production of income and hence deductible under section 11(a)
Study Unit 6: SARS Supreme Court of Appeal cases
- CSARS v Danwet 202 (Pty) Ltd – Condonation for late filing of an appeal against an assessment
- CSARS v Pieters and Others (1026/17) – Contracts of employees terminated, awards to employees not subject to PAYE
- Africa Cash & Carry vs CSARS – Whether SARS proved that the methods of assessment used were reasonable; whether the tax court ought to have remitted the assessment; section 89 interest exercised its discretion in circumstances where Commissioner for the South African Revenue Service had not issued a final assessment
- CSARS vs Clicks Retailers (Pty) Ltd – Whether amount received from earlier sales used to finance future expenditure on same contract
Study Unit 7: IFRS Standards – What’s new?
IFRS Monthly news summary
Study Unit 8: IRBA Guidance
Proposed Guide for Registered Auditors: Joint Audit Engagements
Study Unit 9: CIPC Notices and Practice Notes issued (enforcement and to customers)
- Guidance Note 2 of 2019 – Time Periods for Filing Annual Returns and Annual Financial Statements
- Notice 79 of 2019 – Disqualified directors’ letters
- Professional bodies highlight CIPC Compliance checklist challenges
Study Unit 10: CIPC Companies Tribunal
3 Decisions reached on cases heard (2 Name disputes, 1 AGM, 0 Exemptions from SEC, 0 Directorship dispute, 0 Reviews)
Study Unit 11: Employment law
Update on Parental Benefits in terms of the BCEA – effective 1 January 2020
Study Unit 12: Other Acts and articles
6 planned laws for South Africa you should know about in 2020
Study Unit 13: IRBA News & press releases
- IRBA Issues a New CPD Policy and Related Guidance
- IRBA launches Audit Quality Indicators: Evaluating audit quality and promoting transparency of audit firms
Study Unit 14: Professional bodies press releases & other publications
SAICA’s latest developments in the auditing profession
Study Unit 15: 5 interesting articles that also affect SMEs
- Professional bodies SMP Q3 Newsletter
- Audit Requirements relating to the Business Accounts of Legal Practitioners now clarified
- Professional Bodies new CPD Policies
Study Unit 16: Companies Tribunal
Domain Name Disputes: Does the Tribunal have jurisdiction over Domain Names?
Study Unit 17: FIC Advisory & Guidance
- PCC41: Awareness on protecting NPO sector from Money Laundering and Terrorist Financing
- Call for comments: Draft PCC 102 on Supervisory Body Access to STR and STR Information
- Call for comments on South Africa’s Targeted Financial Sanctions Regime Draft Document PCC 104
- FIC Supervisory Body: SARB fines Standard Bank R30m & imposes penalties on 4 other banks
- Media release: Public Private Sector Partnership to assist in Combating Financial Crime
Study Unit 18: CGSO & National Consumer Commission
- CGSO Annual report released
- CGSO Press release – Rights & Responsibilities of Consumers & Suppliers during Black Friday
- The National Consumer Commission slaps Ford Motor Company of Southern Africa with a fine of R35m
- Slow or no justice for buyers of dodgy cars despite Consumer Tribunal ‘help’
Study Unit 19: FSCA publications & press releases
- FSCA Update on public warning regarding Karatbars International GmbH
- FSCA provisionally withdraw the licence of Exclusive Life Financial Services (Pty) Ltd
- FSCA eNewsletter – FSCA Bulletin 2019/2020
- 2 Warnings issued to the public against fraudulent FSPs
Study Unit 20: Media articles
- The end of annoying marketing calls in South Africa
- Here’s when you are allowed to drive in the emergency lane in South Africa
- There are no preconditions for this course.
- Moderate level.
- Recorded webinar made available on a specified date
Lettie Janse van Vuuren
Technical expert Lettie Janse van Vuuren CA(SA), RA, CBA(SA) researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.
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
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