Accounting & Reporting
INSIGHT: Improve accounting estimates before financial close
A disciplined review of accounting estimates can help South African SMEs produce more reliable financial statements and explain changes clearly.
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Payroll
SARS updates e@syFile: payroll checks employers should make now
SARS has released e@syFile Employer version 8.0.2_418 with an updated EMP501 form. Employers and payroll administrators should confirm their software version and validate payroll data before submitting reconciliations.
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Tax & SARS
Practical insight: Strengthen SARS payment controls before month-end
SARS’s Payment Advice Notice process gives businesses a practical way to reduce payment-allocation errors. A simple approval and reconciliation routine can help finance teams confirm that PAYE, VAT, income tax and other payments reach the correct SARS account.
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Accounting & Reporting
Medical schemes: CMS audit-quality submissions due by 20 November
The Council for Medical Schemes’ Audit Quality Indicators submission platform is now live. Medical scheme audit and risk committees should confirm their assessments, supporting documents and submission responsibilities before the 20 November 2026 deadline.
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Compliance
CIPC’s Nova update: why financial reporting controls matter
CIPC’s 23 October 2026 statement on the Nova matter highlights the importance of reliable financial statements, governance records and timely Companies Act compliance for South African businesses.
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Tax & SARS
SARS adds TCS Good Standing requirement for resident trusts
From 16 October 2026, resident trusts must obtain a Tax Compliance Status Good Standing when presenting a Manual Letter of Compliance to an Authorised Dealer for certain fund transfers.
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Accounting & Reporting
Medical scheme audit rotation: what finance teams should prepare for
CMS Circulars 27 and 28 introduce future auditor-rotation requirements for public-interest medical schemes and encourage joint or shared audits. Finance teams should begin mapping tenure, independence and transition requirements well before 2028.
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Tax & SARS
New REIT tax rules raise the bar for property companies
SARS has published requirements for companies seeking to qualify as a REIT, including asset, rental income, leverage, distribution and governance tests. Property groups should assess their financial reporting and tax controls before the rules apply to a new year of assessment.
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Accounting & Reporting
Record retention: the seven-year and five-year rules SMEs must align
A practical accounting insight on aligning company and tax record-retention requirements before old financial documents are deleted.
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VAT and Tax Compliance
Insight: Five VAT invoice checks before your next VAT201
A practical review of tax invoices, supporting records and VAT201 figures can help South African VAT vendors reduce avoidable errors before submitting their next return.
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Tax and SARS
SARS AEOI reporting changes: what financial teams should check
SARS has updated its Automatic Exchange of Information reporting environment to support CRS Schema 3.0. Reporting financial institutions should review data, due-diligence and submission controls before their next filing.
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Tax and SARS
SARS proposes advance customs rulings: what importers should prepare
SARS has published draft rules for advance customs rulings, setting out proposed application procedures, fees, supporting documents and record-keeping requirements. Importers should review their customs data before the 4 November 2026 comment deadline.
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