Business Emergency Rescue
SAICA’s action plan in response to the recent unrest
Following the launch of SAICA’s Business Emergency Rescue initiative which we communicated to you on 29 July, we have a further update. As mentioned in our previous communication, this initiative follows member requests and engagement with the SAICA Eastern Region Council (in KwaZulu-Natal), to help not only fellow members but also individuals who can benefit from SAICA members’ expertise to rebuild their businesses and deal with the emotional and mental stress that they are experiencing.
At SAICA, we firmly believe that we must do what we can to make a sustainable difference and we, therefore, encourage all our members across the world to help in any way they can and urge our members who need support to get in touch either via the Business Emergency Room initiative or on the Telegram Messenger group (see more information below).
1. SAICA has reactivated its Business Emergency Room initiative, which was originally developed at the onset of the global pandemic to support small businesses that were adversely affected during the first lockdown.
This phase of the Business Emergency Room initiative is aimed at assisting businesses that have been impacted by the recent turbulence in South Africa. The priority and purpose of the Business Emergency Room remain to accelerate economic recovery and growth through supporting small businesses.
We have already gathered more than 180 experts who are volunteering as business advisory experts and offering their support on a temporary, pro-bono basis to businesses that have been negatively impacted by the riots that happened in July.
We invite businesses who need these services to apply for support from the experts. The specialist areas of advisory are as follows:
- SASRIA Insurance claims
- Cash flow management
- Funding/Grants/Incentives applications
- Business strategy for uncertain times
- Business diversification
- Taking new products/services to market
- Business processes/Business Continuity Processes
- Business rescue
- Sector-specific advice
- General business coaching
2. We have launched a SAICA community group on the Telegram Messenger application where members can connect to ask for and offer advice and support as needed. We urge members to download the app and join this group if they have not done so already. This app can be downloaded on mobile devices as well as on a desktop computer. Please ensure you download the Telegram Messenger application rather than other versions of Telegram.
Once you have downloaded the application to your device, add the SAICA number 074 990 5307 as a contact to your phone. You can then sign up to join the group by following this link. Your membership status will be verified before you will be added to the group.
We also remind you to read the group’s terms and conditions as well as the POPIA disclaimer on the sign-up page before joining the group.
3. SAICA has been engaging SARS to help members with tax implications following the recent unrest and we have subsequently released a guide on tax relief and other tax implications.
SARS has also developed frequently asked questions relating to tax questions you might have if your business was impacted by the recent civil unrest and looting in parts of KZN and Gauteng.
The information includes the following topics:
- My records and tax supporting documents are missing
- I cannot make my monthly Pay-As-You-Earn (PAYE) payments
- I cannot prepare my Value-Added Tax (VAT) claims/refunds
- I cannot prepare my Provisional Tax returns and Company Income Tax
- Deductions for damages and loss due to unrest and looting
- How to manage your debt with SARS
- How to access the 2021 Covid-19 tax reliefs that were announced by the President
- I cannot prepare my Employer Interim Reconciliations
For more information, visit the small business webpage on the SARS website, www.sars.gov.za, email email@example.com or call the SARS Contact Centre on 0800 00 7277 and choose option 6.
More tax resources:
- Tax relief measures for SMMEs from SARS has been released and is available. As more information becomes available in respect of these relief measures, this will be communicated with members.
- National Treasury announced a fiscal package, outlined by President Cyril Ramaphosa on 25 July 2021, in response to the continuing COVID -19 pandemic. The relief is applicable to tax compliant businesses in the alcohol sector who have been financially impacted by the COVID-19 pandemic and subsequent lockdown restrictions. See the FAQs here – FAQs for Tax Relief on Excise Duty.
4. The Institute recently hosted a complimentary SASRIA claims process and tax relief measures webinar on 23 August 2021. The link to the webinar recording can be accessed here.
5. We are further arranging an Economic Recovery Conference, not only to support members who may have been impacted but also to reignite the economy to alleviate the impact of the recent violence as well as the ongoing pandemic. The conference will be held on Monday, 20 September 2021. More information is available on the SAICA website.
6. SAICA is liaising with the South African Depression and Anxiety Group (SADAG) to set up a support group for members. A support group is a gathering of people with common experiences and concerns who meet together to provide emotional and moral support for one another. They encourage a sense of community, a source of empathetic understanding, and a non-judgemental environment. If you are interested in joining a support group or finding out more, visit sadag.org or call the SADAG toll-free number: 0800 21 22 23.
SAICA also has an agreement with the Independent Counselling and Advisory Services (ICAS) who offer Emotional Resilience Sessions. Members can ask for counselling regarding emotional trauma, loss of employment, loss of businesses, and other matters that resulted from the unrest. These sessions for members are only offered telephonically. Members can call the following toll-free number to consult with an ICAS counsellor: 0800 213 174.
SAICA comments on the draft taxation laws amendment bill and tax administration laws amendment bill of 2021
Tax implications and incentives available for businesses affected by the riots
Download the SAICA guide for businesses setting out the tax relief measures available to you due to the unrest in SA and other various tax implications that you should be aware of in this regard.
Requirements for applications for the duty-free importation of goods by domestic manufacturers
Download the requirements for applications for the duty-free importation of goods by domestic manufacturers whose manufacture of goods has been significantly impacted by the unprecedented scope and impact of the recent civil unrest in KwaZulu-Natal and Gauteng
Dr Sharon Smulders from SAICA talking on the Big Small Business Show about the tax implications and incentives that are available for small businesses who were affected by the recent riots in South Africa.
Emergency Tax Measures
SAICA Wellness Resources
|SASRIA Claims process and recent tax relief measures||https://saicaevents.co.za/sasria-claims-process-and-recent-tax-relief-measures/|
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SAICA leadership in a time of crisis – Leading in uncertain times
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SAICA leadership in a time of crisis – Business continuity
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Leadership in a time of crisis: Turn Stress into Success with Dr Gustav Gous
SAICA Taxpayer Rights in Times of Disaster Webcast
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