10 Jul 2012

Finance, Accounting & Banking

 



Taxpayer-Gov relationship crucial? You bet!

Finance Minister Pravin Gordhan says the relationship between the government and the taxpayer is crucial, and we couldn't agree more. Perhaps what many taxpayers would like to see - if the relationship is to be a good one - is a far better use of tax funds not least of which would be achieved through more efficient management, less wastage, and far less corruption.

On the consumer front, are you up to speed on returns policies and the CPA? If not, Danie Strachan has some words of advice for you.

For all you aspiring learner drivers, and wannabe petrol-heads out there, here's some news of South African tech designed to help get your drivers license faster. Proposed changes to the National Road Traffic Act could see it taking up to 12 months longer to get a drivers license, so anything you can do to speed it up a bit, would help. Right?

On the emotive subject of the land issue, TAU SA says it's about the economy, not emotions or politics. Well, that sounds sensible to many people, but unfortunately, emotions do sometimes get in the way on many issues. Here's hoping common sense rules.

It's wheel spanners at dawn... or not. Our tame motoring editor, Henrie Geyser, reckons the new Nissan Infiniti is fit to rumble the Germans. Ja! He reckons this offering from The Land of The Rising Sun is one of the classiest brands and strikingly good looking - like our Henrie, then? (He tends more towards the "ruggedly..." Whatever.)

Rod Baker, content director

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Editorial news

Finance, Accounting & Banking


Strategic business refocus for Nebula
South Africa's independent telecommunications professional services firm, Nebula has announced a strategic business repositioning which includes unique service offerings with innovative and improved client engagement models. Read more >>

Accounting and Auditing


Auditing training 'to assist municipalities'
The Local Government Sector Education and Training Authority has committed R3,9m to help fund auditing training for municipalities, to be provided by the Institute of Internal Auditors SA (IIA SA). Read more >>

Zahra Cassim to head CIMA
The Chartered Institute of Management Accountants (CIMA), has appointed Zahra Cassim as the new head of South Africa. Cassim joined CIMA on 2 July 2012 with the responsibility of driving the long term country strategy and will report to Samantha Louis, regional director for Africa. Read more >>

Banking


Analysts expect good results from FirstRand
[Sure Kamhunga] A surge in unsecured lending and strong vehicles sales is expected to power FirstRand's full-year earnings when the CEO of SA's second-largest listed bank‚ Sizwe Nxasana‚ reports its full-year results next month. Read more >>

SA industries urged to take note of impact of reputational damage
It is important for the local banking sector - and any organisation with a large clientele base reliant on immediate access to critical services - to ensure effective public response protocols are incorporated into business continuity management to mitigate the risk of severe reputational damage. Read more >>

Credit Services


Increased borrowing slows down progress in reducing household indebtedness
Last month's announcement by the South African Reserve Bank that South Africa's level of household indebtedness, as measured by the household debt-to-disposable income ratio, was 74.7% in the first quarter of 2012, was disappointing as this was only slightly down from 74.8% in the previous quarter. Read more >>

Finance, Accounting and Banking


Gauteng Health pays off suppliers
The Gauteng Health Department has met its deadline to pay off all suppliers by the end of June this year. Read more >>

New funding deal for emerging farmers
Fin24 reports the Land Bank and the African Development Bank have set up a R1-billion fund to help emerging and commercial farmers who need access to finance. The loans will carry a two-year moratorium on repayments, which will be payable over 15 years. Read more >>

Financial Services


SBV Services expand their operations into Africa
SBV Services, who has been providing its cash operations services to the Nigerian market for over five years, is also active in Lesotho with plans being afoot to extend its footprint further into Africa, including Uganda and Namibia. Read more >>

SBV Services open cash centres in Burgersfort and Louis Trichardt
SBV Services have expanded their cash centre services by opening new centres in the towns of Burgersfort and Louis Trichardt in the Limpopo province. The launch of the two centres is part of the organisation's growth strategy, which entails introducing new and upgrading existing cash centres in high cash demand areas. Read more >>

Social lending, the new face of monetary loans
[Sean Emery] Against the backdrop of a global financial crisis where people feel that the big banks have failed them, consumers are beginning to look at alternatives such as person-to-person or social lending. Read more >>

Investment Management


SA property stocks attracting global interest
[Thabang Mokopanele] The continued economic malaise in Europe and concerns about global economic growth have resulted in huge inflows of both retail and institutional money into SA's listed property sector. Read more >>

PMI falls to 48,2 - its lowest level since August 2011
According to reports from Business Live, Fin24, Business Day and BER, South Africa's purchasing managers' index (PMI) fell by 5,4 points to just 48,2 in June - its lowest level since August last year - as new sales and business activity plunged. The PMI is regarded as a reliable 'health gauge' for the economy's manufacturing sector. Read more >>

Assets worth R230-million seized from Cunningham
According to reports on IOL News, Fin24 and Business Live, the state has seized assets worth about R230-million from Fidentia's Noel Cunningham who has been charged with defrauding the company of about R150-million. Provincial public prosecutions spokesman Klaas van Zyl says this is one of the highest-value asset forfeitures undertaken countrywide. Houses, vehicles and cash were seized. Read more >>

Taxation


Number of taxpayers doubles in two years
The number of people registered to pay tax in South Africa has more than doubled in the past two years according to figures published in Business Report, which quotes Finance Minister Pravin Gordhan as saying the tax base had grown from 6-million in 2010 to 13,7-million in March this year. Read more >>

Carbons emissions tax nets R2.3bn
Finance Minister Pravin Gordhan says that R2.384bn has been collected since the imposition of the carbon emissions tax on 1 September 2010. Read more >>

Govt doing all it can to ensure sustainable debt levels
Government is doing all it can to ensure sustainable debt levels, while also delivering services to the people, Finance Minister Pravin Gordhan said on Monday. Read more >>

Taxpayer, govt relationship crucial - Gordhan
The relationship between taxpayers and government is crucial in order to have a viable democracy, says Finance Minister Pravin Gordhan. Read more >>


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