Latest News

September 5, 2018

Important communication from UNISA – 2019 year of intake

Important communication from UNISA – 2019 year of intake Dear Training Officer and Training Office Administrator. SAICA has received the information below from UNISA, please pass this along to your […]
June 1, 2018

7 Tips to help you cope with exam stress

A little stress can be a good thing: it can be the motivational push that we need to get things done. However, sometimes, dealing with stress (especially during exam season) […]
February 23, 2018

2018/2019 Tax Guide Now available for download

The 2018/2019 MMS Tax Guide is available.Please click here to download the latest guide.
February 22, 2018

2018 Budget Speech Summary

On 21 February 2018, Finance Minister Malusi Gigaba delivered his 2018 Budget Speech. How does the Budget Speech affect you or your business? Hereby a summary of the most significant […]
February 19, 2018

UIF obligations on foreigner/expatriate employees in South Africa

There are frequent questions with regards to UIF contributions and benefits payable to foreign/expatriate employees in a Company. Under the Unemployment Insurance Contributions Act, these amendments have an effect as […]
February 19, 2018

Separating business and personal expenses (part 1):
Why is it necessary?

Owners of part-time and small businesses e.g. multi-level marketers, estate agents, consultants and self-employed sole proprietors, often use one bank account for personal and business purposes, resulting in business and […]
February 19, 2018

Provisional Tax penalties on underestimation of income

Provisional taxpayers are generally those taxpayers who earn income from sources other than a salary. In other words, PAYE is not deducted from these other sources of income on a […]
February 19, 2018

Terminating temporary VAT relief of residential property letting

While most sectors of the South African economy celebrated the expectations of stable growth under a more business-friendly regime in 2018, these celebrations would have been somewhat subdued around the […]
February 6, 2018

A message from the MMS Group directors

With the new year in full swing, it is important to take a moment and reflect on 2017 and all the highlights to give us that extra boost of motivation […]
February 6, 2018

Tax clearance certificates

Taxpayers may require SARS to issue them with a tax clearance certificate for various reasons. This includes a general confirmation that the relevant taxpayer’s affairs are all in order and […]
February 19, 2018

Provisional Tax penalties on underestimation of income

Provisional taxpayers are generally those taxpayers who earn income from sources other than a salary. In other words, PAYE is not deducted from these other sources of income on a […]
February 6, 2018

Tax clearance certificates

Taxpayers may require SARS to issue them with a tax clearance certificate for various reasons. This includes a general confirmation that the relevant taxpayer’s affairs are all in order and […]
November 29, 2017

SARS to intensify action against tax offenders

Despite the fact that SARS has upheld their philosophy of education, service, and thereafter enforcement, they have noticed an increase in taxpayers not submitting their tax returns by the stipulated […]
August 30, 2017

5 Top tips to use during a SARS VAT Verification

Following a discussion with fellow senior employees at the MMS Group we felt it necessary to share some essential tips regarding the SARS VAT verification process. It is essential that […]
July 26, 2017

Submit your 2017 Income Tax Return and avoid penalties

Annual Tax season is here, and Income Tax return submissions began 1 July 2017. We’ve taken the liberty of answering frequently asked questions individuals may have. The South African Revenue […]
April 25, 2017

VDP and SVDP, what does this mean for me?

What is VDP? A VDP (Voluntary Disclosure Programme) is a process by which SARS extends an opportunity to taxpayers to regularise their tax affairs by disclosing any defaults on their […]
April 5, 2017

SARS releases new ruling on documentary requirements for VAT purposes

In February 2015 the South Atlantic Jazz Festival (Pty) Ltd successfully appealed a judgment of the Tax Court to the Full Bench of the Western Cape High Court (reported as […]
November 25, 2016

Will SARS allow you to deduct your company/close corporation’s assessed loss?

Under normal circumstances SARS will allow a taxpayer to carry forward the previous tax year’s assessed loss and set it off against the current tax year’s taxable income. However, there […]
November 25, 2016

Misuse of assessed losses

An assessed loss for income tax purposes is a potentially valuable asset:  it represents past losses made by a taxpayer which is able of being carried forward to subsequent tax […]
October 26, 2016

The general anti-avoidance rules

The Income Tax Act, 58 of 1962 (‘Income Tax Act’) contains various specific anti-avoidance rules aimed at preventing the abuse of certain specific sections in the Income Tax Act. However, […]