(Note - if you know (or employ) someone who might benefit from a pointer or two on how to bring their levels of debt under control, please do pass this article on to them.)

Being heavily indebted is one of the most stressful and demoralising things a person can experience, and in these hard times a lot of South Africans are struggling to keep their heads above water. High levels of debt are also bad for the country, with 60% of our economy dependent on consumer spending. 

So let’s have a look at an increasingly-popular debt management concept from the United States called the “snowball method”, at what it is and at how it works, with a note also on who it is unlikely to suit.
 


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October 2019 NEWSLETTER
A Tip for Anyone with Too Much Debt – Try the ‘Snowball Method’
(Note - if you know (or employ) someone who might benefit from a pointer or two on how to bring their levels of debt under control, please do pass this article on to them.)

Being heavily indebted is one of the most stressful and demoralising things a person can experience, and in these hard times a lot of South Africans are struggling to keep their heads above water. High levels of debt are also bad for the country, with 60% of our economy dependent on consumer spending. 

So let’s have a look at an increasingly-popular debt management concept from the United States called the “snowball method”, at what it is and at how it works, with a note also on who it is unlikely to suit.
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A Break for Taxpayers on Interest Received From SARS
ArticleImage An amendment to the Income Tax Act, effective from 1 March 2018, has made it a lot easier for taxpayers to account for interest owed to them by SARS. 

Until last year, you had to “accrue” such interest – in other words, show it as income regardless of whether or not you had actually received it. The difficulty here has been that SARS can take a few years to actually pay the refund, exacerbated by the fact that SARS frequently adjusts the interest due to you, which can relate to a prior year.

The new procedure is that you only need to show the interest in the year it is received – a bonus both for ease of completing your tax return, and for your cash flow.
   
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Businesses: Let’s All Practice Corporate Sustainability to Remain Competitive and Successful
ArticleImage “Sustainability” is one of those concepts increasingly in the news - a trend that will most definitely accelerate in the future.

But what is sustainability and what can we do about it? What principles and values do we need to build into our businesses in order to achieve it? What vision should we adopt, what strategic framework should we put in place?

We’ll address those questions as part of a discussion around the importance of continually tweaking our businesses for corporate sustainability, thus ensuring their resilience, competitiveness, and long term survival both for our benefit, and for the benefit of future generations.
   
read more
Our Economic Outlook: Good News or Bad?
ArticleImage What’s going on with our economy? Where is it headed? With the economy shrinking sharply in the first quarter but then rebounding to 3.1% positive growth in the second, are we destined for good news or bad?

Bearing in mind the caution from physicist Niels Bohr that “Prediction is very difficult, especially if it’s about the future” (humorous but very true!) let’s analyse the positives and negatives in our economy – there are some interesting stats there, which may point the way.

We’ll end off with a discussion around the thorny question of fixing our economy, plus some thoughts on the possibility that we will, despite everything, just continue to “muddle through”. 
   
read more
Your Tax Deadlines for October 2019
ArticleImage Deadlines this month are –
  • 7 October – Monthly PAYE submissions and payments

  • 25 October - VAT manual submissions and payments

  • 30 October - Excise Duty payments

  • 31 October - VAT electronic submissions and payments

  • 31 October - CIT Provisional Tax Payments where applicable

  • 31 October – Tax Season 2019 Branch filing closes for Individuals

  • 31 October - End of Employer Interim Reconciliation.
   

christo@caoutcome.co.za francois@caoutcome.co.za vida@caoutcome.co.za www.caoutcome.co.za
Disclaimer

The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.


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