How your small business can pay 0% tax

Tags: Tax Reading Time: 3 minutes Turnover Tax allows for South African small businesses to reduce their income tax rate from 28% to 0%.  Taxation is instead levied on Turnover (net of VAT), calculated according to a sliding scale, as follows: Taxable turnover (ZAR)...

Spotlight on foreign financial assets

Tags: Tax Reading Time: 3 minutes SARS has recently made advancements to put the spotlight on individuals holding undeclared foreign financial assets. Thus far they have sent 275 wealthy South Africans letters regarding this. At this time, seeking the professional...

Why avoiding SARS Penalties and Interest is so important

Tags: Tax Reading Time: 3 minutes SARS is known to levy heavy penalties for non-compliance where underestimated and late income tax payments are concerned. Interest is also imposed on taxpayers until their outstanding amount is paid in full. Depending on the severity...

ABC of the Income Tax deduction for Home Office Costs

Tags: Tax Reading Time: 3 minutes With the rapid change many businesses made to their working environments, shifting their employees to work from home, individual taxpayers are increasingly seeking clarification on income tax breaks for home office costs.  The short...

POPIA Simplified for Small Business

Tags: Tax Reading Time: 3 minutes As of 1 July, all South African companies are obliged to ensure that they are fully compliant with the requirements outlined in the Protection of Personal Information Act (POPIA). This obligation started its course in 2013 when...