9/27/2017 Tax Practitioner Event Hosted by B Square Financial - 20 September 2017 WELCOME – QUOTE FOR THE DAY “Birthdays are good for your health……. The more you have …….the longer you live” – Unknown 1
9/27/2017 WELCOME – THOUGHT FOR THE DAY SURVIVING IN CHALLENGING TIMES Source: bettermanblue print.com WELCOME – THOUGHT FOR THE DAY The first two quarters of the year have seen the economy contract into the country’s first technical recession since 2009, with depressed fixed investment and a downgrade by all three major agencies. businesses experiencing four key challenges: liquidity, cost, risk and growth. Source: bettermanblue print.com 2
9/27/2017 WELCOME – THOUGHT FOR THE DAY Dealing with these challenges is crucial to success – and the real winners are likely to be the people who make tough decisions now, deal with difficult issues today, but are thinking ahead to tomorrow's opportunities. Source: bettermanblue print.com WELCOME – THOUGHT FOR THE DAY Regardless of your industry, there is one theme that is true of every business – change happens. And often, it comes in ways that you cannot foresee. Irrespective of the size and nature of your business, you will always have to react to outward forces — political interference, volatile exchange rates, labour unrest and changes in technology. Ultimately, it is the way you react to and anticipate potential changes that will determine the long-term success for your business. Here are five, experience based tips, on surviving through uncertain times: Source: bettermanblue print.com 3
9/27/2017 WELCOME – THOUGHT FOR THE DAY Culture eats strategy for breakfast Make sure that you have the right people on the bus. One of the smartest things you can do to be prepared for any change is to ensure you have the right team. To keep that team for the long term and ensure it’s ready when faced with a challenge, you need to instil a culture in which every employee feels respected and empowered to do the right thing for their part of the business. This comes from regular communication where you and your executive team are open and honest with good and bad news. Source: bettermanblue print.com WELCOME – THOUGHT FOR THE DAY By placing the utmost value on your people, your company will be prepared for any challenge and emerge as a key player in your industry. Regardless of the obstacles you face as a company, whether anticipated or not, sticking to your core principles with an eye toward long-term goals will ultimately pay off. Companies that encounter unforeseen challenges, new competitors and shifting market conditions will succeed if they have built a great team and allow that team to adapt with the market. Source: bettermanblue print.com 4
9/27/2017 WELCOME – THOUGHT FOR THE DAY Be prepared to look at things in new ways The seven most deadly words in business “But we’ve always done it that way…” Just because something has worked in the past does not mean it will work in the future. It’s great to have a plan in place based on your past experiences; but understand there is no single blueprint for a company, and be willing to consider alternative approaches. Source: bettermanblue print.com WELCOME – THOUGHT FOR THE DAY Be nimble and flexible Two key advantages smaller businesses have over larger competitors are nimbleness and flexibility. Smaller businesses can adapt to change more quickly as they don't have to deal with in-depth processes and red tape. As a smaller company, you can move rapidly and develop the new business strategy that you may need to tackle a change head on. Leading strategist Clem Sunter refers to this dynamic as the small business foxes vs big business hedgehogs . Source: bettermanblue print.com 5
9/27/2017 WELCOME – THOUGHT FOR THE DAY It is also important to note that, while you may not realise it at first, some of the challenges you will face are good things, in the long run. ie. …. company has seen market consolidation with some big players being acquired and others exiting the market. This has created an opening for us to become a market leader through customer service and product innovation, while larger competitors were distracted. Source: bettermanblue print.com WELCOME – THOUGHT FOR THE DAY Turnover is vanity, profit is sanity A growing business is a healthy business, right? Not necessarily; whilst new business may seem exciting, it may not always be profitable. Chasing growth at all cost is a dangerous game, always look to maintain and improve your overall profitability. · Don’t spend too much too early · Don’t overstaff your business · Keep a handle on your overall finances Source: bettermanblue print.com 6
9/27/2017 WELCOME – THOUGHT FOR THE DAY Accept that not everything is under your control. Change happens. You can do your best to plan for every scenario, and even some changes can be planned and executed. Inevitably, though, there will be situations you don’t see coming. For those unforeseen issues, the best you can do is take your management team through scenario-planning exercises, where you think through likely and fairly unlikely things that could happen and how you would react. There is no set strategy for dealing with major changes in your business world. The best approach is to anticipate that something will be around the corner at all times, whether in the larger economic world or in your specific market, and to do your best to assess and address it as quickly as possible Source: bettermanblue print.com AGENDA 12:30 Registration and refreshments 13:00 Welcome / Introduction – Mr Martin Barnard 13:10 E-filing / EasyFile – Message from Ayanda Takela Open discussion Stakeholder meeting feedback 15:15 Enjoy a drink with us 7
9/27/2017 Future Events Future Events A-Z of Company Secretarial two day event October 2017 (West Rand) 8
9/27/2017 Future Events Tax Practitioner Event 25 October 2017 (West Rand) Ayanda Takela SARS E-filing support consultant ayandat@sarsefiling.co.za 9
9/27/2017 What’s in the NEWS? 10
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9/27/2017 What’s NEW? SARS & Tax related 15
9/27/2017 Annual Compliance The annual tax practitioner regulatory process will commence within the next few weeks. In preparation for this, please familiarise yourself with the regulatory process as well as the requirements for tax practitioner members 16
9/27/2017 What’s NEW at SARS? 17
9/27/2017 What’s NEW at SARS? What’s NEW at SARS? 18
9/27/2017 What’s NEW at SARS? What’s NEW at SARS? 19
9/27/2017 What’s NEW at SARS? WHAT’S NEW Where to find it? 20
9/27/2017 What’s NEW? Where to find it; http://www.sars.gov.za/Pages/Whats-New.aspx SARS Stakeholder Engagement 21
9/27/2017 Open discussion BRANCH MEETING DATES Office Date Date Date Time Krugersdorp 6 April 29 June 5 October 10h00 – 11h30 Roodepoort 18 April 29 June 19 October 10h00 – 11h30 Randfontein 11 April 18 July 17 October 10h00 - 11h00 22
9/27/2017 AGENDA ITEMS SARS Stakeholder meeting Agenda Please don’t forget to send your examples 23
9/27/2017 Contact details www.bsquare-financial.co.za Martin : 083 634 0092 Suzette : 084 700 9776 info@b2square.co.za 24
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