Course Catalogue

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SARS Tax Practitioner Readiness Programme - Assessment Paper 2

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Business Rescue Specialist - Exam Only

Be equipped with the necessary skills to fulfil their statutory duties in accordance with the letter of the law. Be guided on how to advise and protect the interests of directors, creditors, shareholders or employees of a company in financial distress. Understand and practically apply the provisions of the Companies Act pertaining to all legal aspects of business rescue. Be able to register with the CIPC as a Business Rescue Practitioner. Have evidence of your competence in the Business Rescue specialist area.

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Business Rescue Specialist - Exam plus Preparation

Be equipped with the necessary skills to fulfil their statutory duties in accordance with the letter of the law. Be guided on how to advise and protect the interests of directors, creditors, shareholders or employees of a company in financial distress. Understand and practically apply the provisions of the Companies Act pertaining to all legal aspects of business rescue. Be able to register with the CIPC as a Business Rescue Practitioner. Have evidence of your competence in the Business Rescue specialist area.

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Immigration Accountant License

Stand out from the crowd and hence be able to attract more clients. Be able to accept referrals from other non-specialist accountants and in this way diversify your client composition to include business clients and other accountants. Be offered a specialist work at a higher fee than normal accounting work providing a much higher profit margin per hour of service delivered.

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SARS Tax Practitioner Readiness Programme

Understand SARS Objectives Understand legislation regarding the tax administration act Have insight into regulatory codes for tax practitioners Know the correct SARS channels to follow Understand E-filing and the E@syFile app

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Tax Happy Hour 10: VAT and Income Tax challenges facing the hospitality industry

Complex Tax Regulations: The hospitality sector operates in a highly regulated environment, where tax rules can be intricate and often subject to change. Accountants must stay updated on the latest VAT rates, exemptions, and thresholds that apply to different services within the industry, such as room rentals, food and beverage sales, and event hosting. Misinterpretation or non-compliance with VAT rules can result in significant penalties. VAT Calculation and Reporting: VAT is one of the most common taxes in the hospitality industry, and its application can vary depending on the type of service provided. Accountants need to ensure that VAT is accurately calculated, reported, and paid on time, especially when dealing with different rates (e.g., standard, reduced, or exempt rates) across various goods and services offered by hotels, restaurants, and other hospitality businesses. Income Tax Implications: Hospitality businesses often face challenges with income tax due to fluctuating revenues (seasonality, peak periods), different forms of income (e.g., accommodation, catering, event services), and varying deductions available (such as depreciation, employee costs, and operating expenses). Accountants must ensure that businesses comply with income tax regulations, optimizing tax positions while avoiding underreporting or overreporting of income. PAYE Compliance: The hospitality sector employs a large workforce, many of whom are paid on a regular basis or in seasonal or part-time roles. Accountants must manage PAYE systems to ensure proper income tax withholding, National Insurance contributions, and pension deductions for employees. Cash Flow and Record-Keeping: Hospitality businesses often deal with high volumes of cash transactions, which makes accurate record-keeping and reconciliation crucial. Sector-Specific Deductions and Allowances: Certain tax deductions or allowances may be unique to the hospitality industry, such as reliefs on business rates for small hotels or tax benefits related to the provision of employee accommodation. Advisory Role: Beyond compliance, accountants in the hospitality industry often provide advisory services, helping businesses optimize tax strategies, reduce liabilities, and navigate the challenges posed by changing tax policies, economic conditions, or shifts in customer behavior.

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Tax Happy Hour 7: Pitfalls and opportunities applicable to the transport industry

VAT: Zero rating and standard rating. Income Tax: Capital allowances, accrual of revenue. Agent and principal

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Tax Happy Hour 8: VAT and Income Tax challenges facing the importer and exporter of goods

VAT on importation Agent and principal Trading Stock and revenue recognition for Income Tax

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Tax Happy Hour 9: VAT and Income Tax challenges facing the telecommunication industry

Zero and standard rate of VAT. Section 23H costs and the Telkom case. Accrual of revenue. Capital allowances on telecommunication equipment.

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Licensed Tax Practitioner: Advisor (Transferred)

Be able to apply with SARS as a tax practitioner. Understanding of members responsibilities when performing tax services. Understand CIBA's Statement of Standards on Tax and promote their uniform application within a tax firm. Foster increased public compliance with and confidence in our tax system through awareness of good standards of tax practice. Enhance the business accountant professional designations. Use the license as proof of competency to provide tax services.

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Non-Profit Accountant License

Be able to compile accounts from incomplete records to assist non-compliant NPOs during the DSD deregistration campaign to become compliant Understand the basic concepts of effective marketing strategies and familiarise yourself with the latest industry trends and technologies to increase your income potential. Develop their skills in charity and non-profit organisation accounting, financial management, and financial reporting. Develop a specialist knowledge of the Non-Profit Organisations Act, 71 of 1997 and Income Tax Act provisions regarding Public Benefit Organisations. Recognise the financial statement presentation and disclosure requirements that apply to not-for-profit entities. Identify Department of Social Development and SARS filing requirements of an exempt organisation, recognise the core components of the annual information return, and identify when an NPO may be subject to unrelated business income tax. Recognise best practices in NPO board governance, risk assessment and internal controls. Identify steps involved in planning a successful audit, review or accounting officer engagement and identify key considerations and client communications.

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Tax Happy Hour 1: Income tax treatment of activities conducted by service providers

Effect that the Consumer Protection Act will have on service providers Prepayments and section 24C Gift Cards Franchise fees Tax treatment of “Work in Progress” for the service provider Tax treatment of payments to sub-contractors Prepayments and section 23H Tax effect of agency agreements – VAT and Income Tax