How to add a registered representative to your company with SARS

In previous years, it was relatively easy to add a company to your eFiling profile, whether it was an Organization or Tax Practitioner profile. However, since

A Directors PAYE and UIF deductions

Sole Proprietor or Company: What's Best for Tax?

Getting a new business venture off the ground is an equally exciting and stressful time. You’re enthusiastic about getting your new product or service o

Turnover Tax FAQs

What is the definition of tax threshold? Tax thresholds? SARS Threshold. A Tax threshold is the lower limit of earnings at which tax needs to start being paid.

What is Turnover Tax?

Turnover Tax is a simplified tax system only available to sole proprietors, partnerships, companies, or close corporations with a “qualifying turnover&rdq

Do You Need to Ring-Fence Your Business or Rental Losses for Tax?

When pursuing a business activity, trade or renting out a property, you’re no doubt doing so to make some money, but the reality for self-starters(endpr

How to add your Company Tax Number to your eFiling profile

As part of SARS’ mission to simplify the eFiling system, the Tax Type Transfer process was updated in 2020 for all Tax products in a bid to offer users co

What is Beneficial Ownership?

The CIPC recently (1 April 2023) implemented a new register called the Beneficial Ownership (BO) register in an attempt to establish who owns or exercise contro

Recent updates to the Company Tax Return (ITR14)

The updated ITR14 on eFiling has some new sections, and one that often raises questions is the part about share classes. Although it might seem confusing, it's

Here is the process to follow if you have a dormant company

It seems that dormant companies are on SARS' radar. If you registered a company with CIPC some time ago and forgot about it, that company could land you in hot

Should I file a dormant return?

Are you confused about whether your company should file a dormant return or a normal ITR14 for companies? It's understandable - dormancy can be a tricky concept

Some common (and sometimes forgotten) tax deductions

Too often, taxpayers rush when completing their tax return, and then they miss out on some expenses they are eligible to claim. Don’t overpay tax by overl

Tax Return Due Dates

There are various types of taxes with their own special return forms and deadlines. Quick Summary Tax Type Tax Form Submission Due Dates Personal

How to know if an email from SARS is safe or scam

Recently we have noticed emails that appear to have been sent from SARS, and that might look like legitimate SARS correspondence, but are not.(endpreview) These

Covid 19: Unpacking the Tax Relief for Small Businesses

The national lockdown due to the Covid-19 virus is undoubtedly wreaking havoc on the economy. Small businesses have been hard hit – many not knowing

Covid 19: What to do when you have to go to a SARS branch?

Quarantine. Self-isolation. Coronavirus. These are the buzzwords for 2020, and once it is all over, words we’ll probably never want to hear again. In ligh

Budget 2020: Unexpected Relief for Taxpayers!

The Minister delivered some good news to South Africans yesterday when he announced there would be no significant tax hikes(endpreview) – in fact, there w

A basic overview of the Balance Sheet and Income Statement

From our numerous interactions with small business owners, it seems that many draw up the company’s financial statements by themselves, without engaging t

Disposal of Small Business Assets

If you have reached the age of 55 years, and are thinking of selling your small business, read on to find out more about the special capital gains exclusion of

The low-down on Financial Statements for companies

With the launch of the Corporate Income Tax Return service for SME’s recently, there are questions around the requirement for companies to produce financi

6 Reasons Accounting Records Are Critical to Your Small Business

You’re an entrepreneur. A wildly innovative individual. An ideas person. A make-things-happen person. A real go-getter. Passionate about your business and