Constance Kawelenga

Fringe Benefits 101

Fringe benefits are employment benefits that have a monetary value but do not affect basic wage rates. SARS defines a fringe benefit in the seventh schedule as having four elements i.e.  Below we look at the different categories of fringe benefits: 
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What Is Provisional Tax?

Provisional Tax is not a separate tax from income tax. It is a method of paying the income tax liability in advance, to ensure that the taxpayer does not have a large tax debt on assessment. The tax liability is spread over the relevant year of assessment where it requires…
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Documents Attorneys Need to Prepare for an Audit

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about audit preparation for attorneys, and in particular, the documents you want to prepare in order to get ready for an audit. 1. IT3(b) CertificateYou will need to request your…
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Winding Up Audits for Property Practitioners

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about winding up audits.  To de-register an estate agency firm, the auditor needs to submit the following:  Submit a closing/winding-up audit report. What is a “winding up report”?  A winding…
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Financial Planning Advice Your Accountant Should Give You

In the realm of South African finance, your accountant is a trusted partner, often the first point of contact when seeking financial advice. However, it’s important to understand that while accountants are invaluable when it comes to crunching numbers and tax compliance, they may not always be the ultimate experts…
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