A Small Business Corporation (SBC) is a private company that complies with various requirements per the Tax Act. If it meets the definition of a SBC, it can tak
Read moreCapital and Reserves is a line item under the Equity section of the Balance Sheet. Capital is the initial investment made by the shareholders of the company by
Read moreThe Voluntary Disclosure Programme (VDP) is a voluntary opportunity for individuals, companies and trusts who have previously defaulted on their tax affairs, to
Read moreA dormant company is a company that is registered with the CIPC (The Companies and Intellectual Property Commission) but is not actively trading. Even if the c
Read moreA Balance Sheets is a schedule or record of the business's financial balances which includes assets, equity and liabilities. For more details, please refer her
Read moreThe Income Statement is a schedule or record of your business' income and expenses for the tax year. It also shows whether the business is making a profit or lo
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