Sensitax

09/04/2026

𝐖𝐡𝐲 𝐂𝐡𝐞𝐜𝐤𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐂𝐫𝐞𝐝𝐢𝐭 𝐒𝐜𝐨𝐫𝐞 𝐑𝐞𝐠𝐮𝐥𝐚𝐫𝐥𝐲 𝐌𝐚𝐭𝐭𝐞𝐫𝐬

Dear Valued Client,
Your credit score plays a vital role in your financial well-being. It influences your ability to access credit, the interest rates you receive, and even certain business and lifestyle opportunities. For this reason, we strongly encourage all clients to check their credit scores regularly and stay informed about their credit profiles.

✅ Why Is It Important to Check Your Credit Score?
It helps you understand your financial standing.
It allows you to identify and correct errors early.
It alerts you to potential fraud or identity theft.
It helps you prepare before applying for credit, finance, or contracts.

🔍 Where Can You Check Your Credit Score?
You can obtain your credit report and score from several reputable sources, including:

Accountability
TransUnion South Africa
Other registered credit bureaus or financial service providers that offer free or paid credit reports

When accessing your credit information, always use trusted platforms and ensure your personal details are protected.

📈 Tips to Maintain a Good Credit Score
Here are some practical steps to help keep your credit profile healthy:

Pay accounts on time – late or missed payments negatively affect your score.
Keep credit usage low – try not to use your full available credit limit. For example, on your credit card or clothing account.
Check your credit report regularly – dispute any incorrect or unfamiliar information promptly.
Avoid excessive credit applications – multiple enquiries can lower your score.
Settle outstanding debts where possible – reducing balances improves your credit profile.
Maintain long-term accounts – a longer credit history reflects stability and reliability.

Being proactive about your credit score puts you in control of your financial future.

22/11/2025

𝐓𝐫𝐮𝐬𝐭 𝐧𝐞𝐞𝐝𝐬 𝐭𝐨 𝐛𝐞 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐰𝐢𝐭𝐡 𝐒𝐀𝐑𝐒
While the South African Revenue Service (SARS) has gradually introduced administrative penalties for late or non-submission of tax returns, starting with individuals and later extending to companies, trustees have so far remained penalty-free. SARS has been strengthening its enforcement measures and plans to extend penalties to trusts, recognising that hundreds of thousands of trusts are non-compliant. The implementation is scheduled for early 2026, leaving limited time for non-compliant trusts. Although exact figures are unavailable, estimates suggest that up to two-thirds of all registered trusts with the Master of the High Court are not registered as taxpayers, despite the legal requirement for all trusts to register with SARS, even if labelled as “passive” or “dormant”. Of the one-third that are registered, only about 50% are believed to have submitted tax returns. That presents an opportunity for SARS.
- Source: Trusteeze

20/11/2025

09/10/2025

Mandatory Employment Records

Staying compliant with South Africa’s Basic Conditions of Employment Act (BCEA) and related labour laws is crucial for every employer. Failure to maintain proper records can lead to penalties and disputes. Here’s what you need to know:

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✅ Mandatory Records Under BCEA
Employers must keep accurate records for each employee, including:
• Personal Details: Name, occupation, and date of birth (if under 18)
• Working Hours: Ordinary and overtime hours worked
• Remuneration: Wages, deductions, and payslips
• Leave Records: Annual, sick, maternity, and family responsibility leave
• Termination Details: Notice of termination, severance pay, and certificate of service
•
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✅ Additional Best Practices
While not explicitly in BCEA, the Labour Relations Act (LRA) and good HR practice recommend keeping:
• Disciplinary Records: Details of disciplinary actions and outcomes
• Fixed-Term Contracts: Must be in writing
• Employee Identification & Contact Information:
o Copy of ID document
o Residential address
o Contact details (phone and email)
These are not legally required under BCEA but are strongly recommended for payroll, tax compliance, and POPIA obligations.

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✅ Employee Rights
Employers must ensure a visible display at the workplace of employees’ rights under the BCEA, in the languages spoken there. This promotes transparency and helps employees understand their entitlements.

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Retention Period
• Minimum 3 years from the last entry for all records
• Ensure compliance with POPIA for data privacy
•
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Why It Matters:
Proper record-keeping protects your business in disputes, audits, and ensures compliance with labour laws.

06/08/2025

Please read below SAIPA newsletter extract. My advice is to be truthful in all declaration to SARS as well as info provided to your tax practitioner to compile your submissions.