Tax & SARS

Employees' Tax

If the tax man ever comes knock

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FindanAccountant.co.za

Finding and choosing the right accountant for your business can mean the difference between success and failure. All accountants are not created equal. You need the right match for your exact needs. Unfortunately, once you've selected an accountant, it's often a hassle to switch due to the detailed knowledge that person gains of your business. Therefore it pays, when selecting an accountant, to 'get it right the first time'.

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Highlights From the National Budget Speech 2018 - South Africa

The article looks briefly at the key highlights of the 2018 National Budget speech, and provides links to the full speech, tax guide, and a comprehensive summary of the budget speech highlights.

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How not to manage your business and personal finances

Printing Pain* is a home based family business. There were no employees besides the married couple, the Spenders*, who were the owner managers. The annual turnover and net profit of the business before owner’s salaries and company income tax were R1, 4 million and R440, 000 respectively. The business accounting records were also not updated regularly. It was impossible to exercise proper financial control or take informed business decisions. This article uses the Printing Pain case study to explore guidelines for separating business and personal finances.

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Levies that may apply to an SME

BusWomen.jpgOther than the taxes that apply to small businesses, there may also be levies you have to pay, depending on the type of establishment you are

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Tax Tips for SMEs to make the filing of tax returns easy this season

With the many challenges small business owners face on a daily basis, trying to understand the complexities of the tax returns process can be draining. Filing your tax return is probably something you don’t look forward to.

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Turnover tax and the small business

Turnover tax is a simplified tax system aimed at micro businesses (with a qualifying turnover of R1 million or less), making it easier for micro businesses to comply with their tax obligations.

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Unlocking the legal issues related to your business

Contracts, tax legislation and other Acts relating to your business can be complicated and getting an attorney to help may be very costly. Of course, there is also the question of whether you even know what your legal obligations are. LawUnlocked provides an online tool that may be able to help you assess what your legal obligations are with regards to various aspects of running your business.

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VAT in a nutshell

What small businesses need to know about registering as a VAT vendor

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VAT: some of the requirements – part 1

“Who here loves the VAT man?” That is a question that I ask on a regular basis.  Sadly though, more often than not, mine is the only hand that goes up. It is definitely a mind set that needs to be changed if we are to make the best use of the concessions that SARS gives us. It is about what you know and how you use it that will allow you to make the most of your relationship with SARS. That said, here are a few tips in terms of what must be done regarding the VAT requirements. 

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VAT: some of the requirements – part 2

“Who here loves the VAT man?” That is a question that I ask on a regular basis.  Sadly though, more often than not, mine is the only hand that goes up. It is definitely a mind set that needs to be changed if we are to make the best use of the concessions that SARS gives us. It is about what you know and how you use it that will allow you to make the most of your relationship with SARS. That said, here are a few more tips in terms of what must be done regarding the VAT requirements. 

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VAT: some of the requirements – part 3

“Who here loves the VAT man?” That is a question that I ask on a regular basis.  Sadly though, more often than not, mine is the only hand that goes up. It is definitely a mind set that needs to be changed if we are to make the best use of the concessions that SARS gives us. It is about what you know and how you use it that will allow you to make the most of your relationship with SARS. Here are a few more instances and situations that many folk don’t know about, where you can claim VAT back if the product/service has been used for business purposes.

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