CRA Property and Sectional Title Accountants

021 939 9874

http://www.cra-cpt.co.za

CRA provides Accounting, Tax, Forensic and Specialist Consulting Services to the property community schemes sector including; Corporate Bodies, Homeowners' Associations, Share Blocks (Pty) ltd and Retirement schemes.
ACCOUNTING
At the outset we advise that we do not perform the functions of a managing agent, but offer an alternative to managing the affairs of the scheme.
1. We can open and operate a bank account in the name of your scheme in order to keep all finances up to date on a daily basis
2. We can pay your creditors and expenses, (petty cash) on your behalf with specific instruction.
3. We can operate and implement a levy billing and collection system.
4. We can dispatch notices and circulars, on request.
5. We can handle owners' queries with regards to their accounts.
6. We can prepare the annual audit packs for submission to the schemes appointed auditor.
7. We have access to insurance brokers and sectional title premiums at extremely competitive rates.
8. We can prepare monthly management reports that will be sent to you which generally include the following;
Actual to budget comparison
An unaudited balance sheet
A levy roll (debtors’ report)
A creditor’s roll (creditor’s report)
An annual budget prepared in consultation with you.
9. We can obtain, retain and maintain all statutory records including:
Management and Conduct Rules
Complete minute book
Sectional Title plans
Insurance policies
a register of sectional bondholders
Certificate of establishment
Deed searches


TAX

Section 101 of the income Tax Act requires all property entities to appoint a Treasurer (Public Officer) and advise SARS of such appointment. This individual is then responsible for all the Tax compliance for the entity and faces arrest and criminal prosecution should any matter not be attended to.
CRA offers the following Tax Practitioner services that range from advice to registrations to full tax compliance:
Registration as a Taxpayer
Registration as a Vat Vendor (where applicable)
Acting as the Treasurer (Public officer)
Submitting Provisional Tax returns
Submitting Income Tax returns
Registration on e – filing
EMP201 returns (where the entity is an employer, it must be registered with SARS
Call us now so that one of our knowledgeable tax clerks can advise you further and send you a fee estimate for your scheme.
FORENSIC
In most cases, a report is required to comment on whether there has been any misappropriation of funds of the scheme by the managing agent, the trustees and/or any other persons responsible for the management, control and financial affairs of the scheme. We will conduct full interviews with the persons concerned. We will submit full reports on our findings. We will register complaints to the EAAB on your behalf
CONSULTING
The CRA team takes pride in their knowledge of the Sectional Title's Act. We, as professional accountant’s specialising in community property schemes are here to advise you, assist you and offer our wide range of specialty services.
Our clients feel at ease knowing that aspects of their scheme are being taken care of by the CRA team and that we are always on stand by should they require any assistance.
Call us now and let us know how we can help you!
AUDITING
The appointment of an Accounting Officer is required in terms of annexure 8 of the Regulations to the Sectional Titles Act, Act No. 95 of 1986. This appointment is limited to schemes where the units are not more than 9 or management rule 40 has been amended to allow for the appointment of an accounting officer.
Functions and duties:
*Prepare the Annual Financial Statements with information provided by the scheme according to IFRS (International Financial Reporting Standards). Note: It is the trustees'/directors'/members' responsibility to maintain proper accounting records. Such accounting records should adequately present all receipts, payments, income, purchases, expenses, assets, liabilities and reserves. The Auditor/Accounting officer is not required to prepare the financial statement but will do so on request/instruction.
*Determine that the Annual financial statements agree with the accounting records of the scheme
*Taxation (see under tax)