Confused as to how I should register my business?

By Marc Sevitz · Updated 2 October 2013

I am stuck as to what type of business to open. Whether a close corpration or company? I have seen that the close corporation has been discontinued. Is there another option for a small business?

TaxTim Marc said:
2 October 2013 at 12:53

Please provide further details of the business activities, number of staff members and expected annual profit.

Ian said:
2 October 2013 at 13:51

The business has not been registered as yet, as I'm still not sure what direction to go. It will be a small business in Plumbing services. I would like to keep it small so that I can keep a control of things myself. I'm looking at a possible 4 employees and myself. I hope this answers the question.

TaxTim Marc said:
2 October 2013 at 15:14

If you are going to be earning a net profit of over R67 111 per annum then you should register a company with CIPC and thereafter you can act as a Small Business Corporation which will allow your company many tax breaks and lower tax rates applied to the net income.

Ian said:
2 October 2013 at 15:37

Many Thanks

TaxTim Marc said:
3 October 2013 at 10:55

Only a pleasure!

Salary / IRP5