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Letter of Demand from SARS? Handle With Care!

“A senior SARS official may authorise the issue of a notice to a person who holds or owes or will hold or owe any money, including a pension, salary, wage or other remuneration, for or to a taxpayer, requiring the person to pay the money to SARS in satisfaction of…

The Financial Steps You Need to Take Before You Open Your New Business

Accounting, Tax

“Good fortune is what happens when opportunity meets planning,” – Thomas Edison You have your idea, you have your mission statement and perhaps you even have an idea of who your first customers will be, but there are still a few things you should consider doing before you launch your…

Selling Your Business – Plan Well, with a Tax Benefit When You Retire

Business Valuation, Tax

“A diligent buyer will want up to five years’ worth of profit and loss statements, bank statements, tax returns, leases, supplier and vendor contracts, and customer data.” (Barbara Findlay Schenck – Author “Selling Your Business for Dummies”) The reasons why a business owner might decide to sell their business are…

SARS Can Take Money from Your Account! Here’s How to Prevent It…

“[Taxpayers] should give at least the same priority to tax obligations as their other responsibilities.” (SARS’ Short Guide to the Tax Administration Act) SARS has wide powers when it comes to the collection of tax debts and just one of these is the power to collect money owed by taxpayers…

Are You Claiming Your Full Tax Relief for Disability-Related Medical Expenses?

“South Africa is aligned with the practice in many other countries of granting tax relief for medical expenditure.” (SARS) In South Africa, tax relief for medical expenses is provided through a medical tax credit system. This means the tax relief is provided as a tax rebate – a reduction in…

Owe SARS a Tax Debt? Here Are Your Options…

“Tax debtors are expected to take responsibility for their tax obligations and to organise their affairs in such a way as to be able to discharge those responsibilities when required. They should give at least the same priority to tax obligations as their other responsibilities.” (SARS’ Short Guide to the…

Planning to Cease Being a South African Tax Resident? What You Should Know Before Approaching SARS

“Dear IRS, I am writing to you to cancel my subscription. Please remove my name from your mailing list.” (Snoopy) According to some estimates, as many as 1,900 millionaires have left South Africa over the last few years. A New World Wealth Africa report indicates that 4,200 high net-worth individuals…

Seven Crucial Tax and Other Issues to Address When an Employee Dies

“Employees are the key to your success… Treat them well!” (Ron Kaufman) The death of an employee can be a difficult situation in any company, but particularly so in smaller businesses where employees work more closely together and often consider each other more than just co-workers. In addition to handling…

5 Most Common Tax Pitfalls That Small Business Owners Should Avoid

This article will identify five common tax pitfalls that many small businesses, especially newly established ones, overlook. This situation is because the owners of these companies often do not have tax expertise, or they are unwilling to use a professional to ensure that their tax affairs are in place. Small…

7 BIG Tax Mistakes Business Owners Make & How to Fix Them

In this article, I’ll be going over the biggest tax mistakes that I see small business owners in South Africa make that not only cost them time but also money. Now I completely understand that if you’re reading this article chances are you’re not an accountant or tax practitioner and…

Tax

Letter of Demand from SARS? Handle With Care!

The Financial Steps You Need to Take Before You Open Your New Business

Selling Your Business – Plan Well, with a Tax Benefit When You Retire

SARS Can Take Money from Your Account! Here’s How to Prevent It…

Are You Claiming Your Full Tax Relief for Disability-Related Medical Expenses?

Owe SARS a Tax Debt? Here Are Your Options…

Planning to Cease Being a South African Tax Resident? What You Should Know Before Approaching SARS

Seven Crucial Tax and Other Issues to Address When an Employee Dies

5 Most Common Tax Pitfalls That Small Business Owners Should Avoid

7 BIG Tax Mistakes Business Owners Make & How to Fix Them

Business Budgeting Strategies for Navigating Volatile Markets

Top Tips for Handling Your Employee’s Personal Crisis

The Small Business Trends You Should Be Paying Attention To

Non-Compliant Trust? Penalties are Piling up…

Selling Your Business to Retire? Get This Tax Relief!

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