Magohla Consulting

15/11/2023

POPIA NOTICE – POSSIBLE BREACH OF INFORMATION

We would like to notify you that our Principal Consultant and Managing Director, Godfrey Kekana, lost his mobile device on Sunday, 12 Nov 2023 at around 15h15 at Loftus Stadium. The device contained, among other things, the following information:
1. Your telephone number
2. Your email address
3. Name of company you work for

Other than the above, the device contained no other personal information. Whilst this information may in most cases be public information available on your company's website, we still found it prudent to notify you in terms of POPIA requirements.

Steps taken to limit access to the information

Within 15 minutes of the device being lost, we deployed the following measures:
1. The device was remotely locked
2. The device was remotely wiped of all data it contained
3. The device was blacklisted

We have also verified via the remote device management software that the person having the device has not been able to open it. We can still track the device and remotely lock it when they try to open it.

Conclusion
We are confident that there has not been any material breach of your data.

ENDS

12/01/2022

Management Accountant Post
Our client based in the West Rand is looking for a Management Accountant. Relevant Degree / N Diploma / B Tech and 5 years experience in a manufacturing environment. Salary negotiable.
Send cv to [email protected]

11/12/2020

After a rigorous selection process including a selection examination, I am happy to announce that I have been accepted to study for the Master Tax Practitioner program (NQF8). At least one positive aspect from 2020

31/08/2020

Follow the link below to read the article:

I am an IT audit specialist, in the Internal Audit department of my company. I was recently asked to be involved in testing of the disaster recovery plan (DRP) that IT was performing. Being part of Internal Audit, what should be the extent of my involvement in DRP? Click here for the answer.

14/06/2020

Check our website

11/06/2020

It has been a rough two weeks. 31 May was a special day for business Compliance. Besides it being the closing date for the Compensation Fund Return of Earnings, it was also a deadline for SARS Employer Recons.

What is a SARS Employer Recon (EMP501)
Employers, those who are registered for PAYE at least, deduct income tax from their employees' salaries monthly. At the end of each month before the 7th, they do what we call an EMP201 and pay over the tax to SARS. Yearly they must then do a full reconciliation of the earnings per employee, account for the tax deducted and paid over and issue the IRP5 for employees. This process is necessary before the tax season begins. You thought the IRP5 is done by SARS, didn't you?

This year the EMP501 process was even more challenging in that the deadline was tight whilst the necessary staff who are supposed to perform these recons were not necessarily declared essential services. It therefore meant that we had to do the IRP5's from home, in a situation where we may have not set up proper home offices.

Should you be struggling with your EMP501, please contact Magohla Consulting on 068 029 0415 or [email protected] and we will gladly take away your pain of compliance

Magohla Consulting - at your service

26/05/2020

Small Business Compliance
Morning everyone. For the next few weeks I will be doing a series of compliance issues facing small and medium size businesses. I am focused on these two sectors because big businesses have large Risk and Legal Departments that assist them with compliance issues.

Today we will focus on the Compensation Fund
Suppose you want to compete for a tender or supply a quotation for your business services and you are asked to bring a Letter of Good Standing (LOG).

What is a letter of good standing?
A LOG is a letter issued by the Compensation Fund as proof that you are registered and paid your dues for the fund. By law, all Employers are required to register with the Compensation Fund, excluding employers of domestic workers and exempted employers. Failure to register for Compensation constitutes an offence. Only a few employers are exempted from COID. These employers include the National Government, the Provincial Government and the Greater Metropolitan Councils.

The purpose of the Compensation Fund is to provide compensation, i.e., pay your employees who are injured or contract diseases through the course of their employment. Compensation can take the form of payment for loss of earnings, travelling expenses, medical expenses or pensions.

How do you register and how much do you pay?
Registration is through the Department of Employment and Labour (www.labour.gov.za). Once you have gone through the registration process and have a CF Number, you can then declare earnings of your staff and pay the applicable fees. Thereafter, every year in April, the Compensation Fund sends a notice of assessment which stipulates how much you should have paid for the assessment fee.
The annual assessment fee is based on the workers’ earnings for the year and the risks associated with the type of work being done, e.g., office workers pose a lesser risk than construction workers. NB – you should never understate the earnings of your employees as that will be the basis from which compensation is paid should an employee be injured.

How do claims work?
The COIDA provides a system of no-fault compensation for employees injured or who contract diseases during the course of their employment. “No-fault compensation” is a legal rule that an aggrieved party is entitled to compensation without having to prove any other party was at fault for the accident.

Now that you understand why you need a Letter of Good Standing, please do the right thing and register yourself. Should you need assistance, please feel free to consult with us at Magohla Consulting. Contact us at [email protected] or 083 652 0474.
Magohla Consulting at your service.