Accounting best practices for small businesses
When it comes to looking after the welfare of a business, accounting tops the list as being the most important. Without proper accounting, a business runs the risk of losing everything. The following are a few best practices that are essential for businesses to take note of.
Keep your business growing
Having a successful business means ensuring that it continues to grow. Without growth, your business will eventually run dry and stagnant. But with the added responsibility of maintaining your business and keeping things running smoothly, it can be difficult to know where to look for business growth.
Provisional tax when you sell your property
The provisional tax regime operates as a continuous cash flow mechanism in favour of Government whereby tax on income earned is paid over provisionally in anticipation of the final tax liability to be calculated when a person is finally assessed to income tax.
5 Common small business money mistakes
Of all the roles, a small business owner takes on, often the most challenging is managing the business's finances. You can improve your chances for success - and your profitability - by being aware of and steering clear of these common small business money mistakes.
Further refinements to the attack on interest free loans to trusts
We previously reported on the introduction of section 7C of the Income Tax Act, 58 of 1962. In terms of this targeted anti-avoidance provision, National Treasury sought to attack interest free loans granted to trusts by connected persons of that trust.
Dis heerlike lente, die winter is verby!
Dis heerlike lente, die winter is verby! Vir meeste van ons voel dit asof ons die koue berg van winter oorwin het en met elke dag se vroeër sonsopkoms en later sonsondergang, kry almal ‘n nuwe huppel in hul stap. Ons hoop julle sien soveel uit na die oorblywende deel van die jaar...
Beware of capital gains tax when you emigrate
While many people immigrate to South Africa, we also see many of our clients emigrating from South Africa. And while formal migration-status is not necessarily linked to tax residency, the time of tax migration often coincides with formal emigration linked to passport or visum status.
Your primary residence and capital gains tax
Capital gains tax is somewhat of a misnomer in that it does not represent a tax in and of itself, but rather operates to include a portion of a person’s capital gains realised when an asset is sold in that person’s taxable income, and which taxable income is then subject to income tax.
