The Taxation Of Cryptocurrency
Hear from the experts at Ledgible how cryptocurrency is impacting the accounting world and more specifically how taxes and cryptocurrency intersect. Listen to the podcast here.
Tax
How Blockchain Will Shape the Future of Accounting
Forward-thinking innovator Jacob Lewtan sees the fourth industrial revolution as a persistent threat to the accounting profession. He draws upon his knowledge of the power of analytics, fraud, and monitoring to connect how the accounting profession can advance through use of emerging technologies.
Crypto is colliding with accounting
Accounting will not disappear, but accountants as we know them might. In the recent Netflix blockbuster: Don’t Look Up, a group of astronomers sound the alarm about a killer asteroid hurtling towards earth, only for many to hit the snooze button. Monica Singer is the accounting equivalent of those astronomers. Singer, a chartered accountant, former CEO of Strate (a central securities …
Covid-19 organisations and their donors are in SARS’ cross hairs
By Wesley Grimm, Senior Associate & Shirleen Ritchie, Partner at Webber Wentzel SARS appears to be reviewing the tax deductibility of donations made after 30 September 2021 to organisations set up to provide economic forms of disaster relief for Covid-19 If you donated to a Covid-19 disaster relief organisation or, as such an organisation, issued …
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Curbing abuse of the Employment Tax Incentive project
By Patrick Heron, Trainee Attorney, Wesley Grimm Senior Associate & Joon Chong, Partner from Webber Wentzel Amendments to the Employment Tax Incentive Act, 2013 geared towards halting the abuse of employment tax incentives came into force on 1 March 2022. The Employment Tax Incentive (ETI) project was introduced in the ETI Act, 2013 to help …
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Cannabis and CPAs: The business opportunities and risks
Cannabis for medicinal or recreational use is a fast-growing business, and the advisory opportunities for accountants in the industry are also growing. Along with those opportunities are emerging issues on the regulatory and risk fronts. Ron Seigneur, CPA/ABV, the managing partner of Colorado firm Seigneur Gustafson LLP, shares more on how this topic is being …
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How the US taxes its cannabis industry
As medicinal and recreational adult use of cannabis is legalized in more and more states, understanding how it’s taxed becomes more and more important for tax and accounting professionals. Listen to a podcast covering this topic here.
Research: A Consideration of the Potential Taxation of Cannabis in South Africa
This report confirms that by legalising the recreational and medicinal use of cannabis, the government may reap enormous financial benefits, bearing in mind its versatility. Careful consideration is needed in establishing the best tax policy, to avoid subjecting cannabis to over tax. New taxes are not required but rather that existing tax legislation should be …
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Budget Speech Highlights 2022 – VAT
By Jana Botha, VAT consultant, Baker McKenzie Johannesburg There were several developments with regard to VAT announced by Finance Minister Enoch Godongwana in South Africa’s National Budget Speech on 23 February 2022. These developments are summarised below. Value Added Tax Section 72 Rulings to be Reviewed In the 2019 Budget Speech the then Minister of Finance, Tito …
The SARS of it all: struggles and successes of an ordinary tax practitioner
We interviewed Mandisi Ntauzana, a tax practitioner based in Katlehong, about his daily challenges in 2021- dealing with clients, SARS and, of course, a pandemic. “It killed us,” says Mandisi Ntauzana, a tax practitioner based in Katlehong, when asked about the impact of Covid on his business. “After the initial lockdown, around June and July 2020, I …
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