Tag: payment relief

With effect from 1 January 2019, the doubtful debt allowance provisions contained in section 11(j) of the Income Tax Act, 58 of 1962 (the Act) were amended. While taxpayers who apply IFRS 9 have been grappling with these changes for some time, other taxpayers may not have realised the extent to which the amendments practically alter the determination of the allowances that they may claim

With the struggle against COVID-19 far from over, South Africa faces a long and tough road ahead as it strives to mitigate the devastating economic impact of the global pandemic. The construction industry, which was already in a negative growth phase prior to the outbreak of the virus, has been particularly hard hit and many companies are struggling to stay afloat.

Ideas that begin as lockdown coping strategies can also revolutionise your business. As any South African business person will tell you, the COVID-19 pandemic has been a stressful time to be running a company. However, as we have worked to mitigate the effects of COVID-19, we have also gained a glimpse of what the future of business might look like. It is an exciting prospect.