In the last week’s article, we introduced you to the concept of buy-sell agreements. In this article, we have a look at some practical examples of how these agreements and policies are physically implemented. A re-cap of the importance of a buyout agreement Forms a critical component in the business planning phase as it regulates […]
Buy-sell agreements – Part 2 Read More »
Cash flow is one of the major concerns that keeps small business owners awake at night, according to the 2010 SME survey, which included 2000 South African entrepreneurs.
Indeed, few would argue that having a good cash flow is the very lifeblood needed to keep a business going; and that without it, it won’t be long before the enterprise withers and dies.
Keep The Cash Flowing Read More »
Discover the benefits and pitfalls of turnover tax in South Africa. Learn how to navigate the system, avoid common mistakes, and ensure compliance with SARS.
Avoiding the Pitfalls of Turnover Tax: A Comprehensive Guide for South African SMEs Read More »
You need to submit your tax return and don’t know which expenses you are allowed to deduct! Help!
Maximizing Tax Deductions for Individual Taxpayers Read More »
The 1st in a 3 part series, this article will introduce you to buy-and-sell agreements and why you would need one. Keep an eye out for the following articles where we will go into more detail and share a practical example or two.
Buy-and-sell agreements – Part 1 Read More »
Think of cash as the fuel that runs your business. Lacking cash can leave you stranded on the side of the road while the competition zooms by. A business, like a car, won’t go anywhere without fuel. The last thing you want is to be walking for miles with a fuel can in your hand.
How To Better Manage Your Cash Read More »
A very common question was raised in the boardroom last week during a consultation – how far back can I claim expenses before I actually started doing business? Let’s quickly recap what SARS allows on this topic. Pre-trade expenses The general deduction rule stipulates that you can only deduct expenses incurred in the production
How far back can I claim pre-trade expenses? Read More »
When a business acts as an employer, there are certain statutory requirements that the business will have to adhere to.
Some of these requirements include compulsory registrations with certain governmental departments.
Beware These Four Statutory Deduction Pitfalls On Your Payroll Read More »
In our previous article, we covered some of the key deductions, including: Pension Fund contributions, Retirement Annuity contributions, Income Replacement Policy contributions, and Donations. Today, we’ll explore the remaining expenses you can claim when submitting your personal tax return to SARS. Let’s break it down step by step. Travel Expenses: What You Need To Know Travel
Individual Taxpayers! Expenses you are allowed to deduct. (Part 2) Read More »
The employee contributes 1% towards UIF and the employer contributes another 1% on behalf of the employee, resulting in a total UIF contribution of 2% being payable. This 2% is however not payable on the total gross salaries, but calculated based on a capped amount.
Based on the notice published in the Government Gazette no. 35715, dated 26 September 2012, the UIF earning limit increased from R149,736 to R178,464 p/annum and from R12,478 to R14,872 p/month.
Your Payroll System Needs To Be Updated With New UIF Limits Read More »
