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Mastering Basic Compliance as a Director, Tax payer, Employer and Trader

Overview

Mastering Basic Compliance covers the key roles you play as a Director, Employer, Taxpayer and Trader, as well as ensuring you are fully compliant within key structures and entities. You will learn how to appoint and assess a new Director, the correct way to remove them from a company, and how to evaluate and allocate suitable remuneration according to the Directors duties. You will also be educated on what your obligations are as a Taxpayer and how to comply with Income Tax and Value Added Tax (VAT) legislation. Learn and understand your role as an employer in terms of Income Tax and the Basic Conditions of Employment Act. Receive tools on how to apply the CPA, NCA, PAIA, BEE and much more to comply with the laws of being a Trader.

Modules covered:

  • Module 3: Know your obligations as a Director
  • Module 4: Know your obligations as a Tax Payer
  • Module 5: Know your obligations as an Employer
  • Module 6: Know your obligations as a Trader

Learning Objectives

  • Know how to assess, appoint, remunerate and remove a Director
  • Know your obligations, and comply with Income Tax and Value Added Tax (VAT) legislation
  • Learn the roles as an employer in terms of Income Tax Act and several employment laws
  • Apply the CPA, NCR, PAIA, POPI, ECTA and BEE to your trading practices

Module 3: Know your obligations as a Director

  • Find out who can be a Director of a company
  • Identify who does not qualify to be Director
  • What are the Directors’ duties and obligations?
  • How should the Directors be conducting themselves and affairs of the business?
  • What are the Directors’ duties and obligations?
  • Specify the powers of Directors and how decisions need to be made
  • Know how to appoint, assess, remunerate and remove the Director
  • Select audit or independent review using Public Interest Score guide
  • How Directors should conducts company affairs
  • How a Director and the shareholder’ report and manage relations
  • Consider accountability based on the needs and growth plans

Module 4: Know your obligations as a Tax Payer

  • Select the appropriate tax system
  • Apply VAT requirements for registration, tax invoice requirements
  • Learn how income tax act works
  • Understand the duties of a VAT vendor
  • Understand the implications of tax on special cases
  • Identify the documents that need to be kept for Income Tax and Value Tax Act

Module 5: Know your obligations as an Employer

  • Explain the process of employment
  • List the basic employment laws administration
  • Complete basic employment laws consideration
  • Register as an employer (EMP101)
  • Prepare a sample payroll with the aim to complete EMP201
  • Complete and assign the compliance checklist

Module 6: Know your obligations as a Trader

  • Apply the 9 basic consumer rights to your trading practices
  • Assess your industry marketing practices in relation to consumer rights
  • Define the credit agreement
  • Name 3 categories of credit agreements
  • Identify if PAIA applies to your business
  • Learn how to collect and store information as per POPI and ECTA
  • Apply CPA and NCR to your terms and conditions
  • BEE levels and requirements

Who should attend?

  • Business Owners
  • Entrepreneurs
  • Directors
  • New Managers of Small Businesses
  • Office Administrators

Tools and Templates

  • Tax Invoice template
  • Turnover Tax form (TT01)
  • Application for registration as Taxpayer (IT77C)
  • Information to create this Income Tax Return (ITR14)
  • BEE Affidavit
  • Monthly Employer Declaration form (EMP201)
  • Employer Reconciliation Declaration form (EMP501)
  • Employee Income Tax Certificate (IRP5&IT3A)
  • General Compliance Checklist
  • Promotion of Access to Information Act (PAIA) guide
  • POPI approach by KPMG.
  • Public Interest Score guide and calculations
  • Memorandum of Incorporation Checklists
  • List of items that can be changed on the Memorandum of Incorporation
  • Resolutions: Special Resolution Template, General Resolution Template, Consumer Protection Act – Compliance Checklist
  • Consumer Protection Act – Compliance Checklist
  • Basic Conditions of Employment Act – Implementation Plan
  • Department of Labour Integrated Inspection Checklist Labour Relations Act
  • Characteristics of a Director plus Guidelines
  • Periodic and Permanent Compliance Checklists with relevant forms for SARS, DOL and CIPC

Additional Resources

  • GAD Compliance App with iCalendar 2017/2018
  • Guide on Small Businesses 2017/2018
  • Guide to Employee Tax 2017/2018
  • Employee File Index included on the CD
  • Integrated Department of Labour Inspection Checklist
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