Welcome to Tax season 2012! With a new season of tax, comes a new set of tax deadlines…and I have yet to find a person that likes tax deadlines. The word “tax” has the ability to turn most people a pale shade of white. Mix this with “deadline” and you have a failsafe recipe to…
Life is certainly getting faster and faster, we try to fit more into each day and often things slip by the wayside. Unfortunately sometimes these are important issues which we put off like registering for tax or meeting our other tax obligations. It is understandable when often these processes aren’t easily understood however ignoring these…
What is UIF? UIF stands for Unemployment Insurance Fund and as the name suggests, is an insurance fund, setup by Government to provide short-term relief for workers who become unemployed or unable to work due to factors such as illness or maternity leave. Employers and Employees provide the finance for the fund through their monthly…
Following up from our blog on “who needs to register for tax?”, a similar frequently asked question we receive is “who needs to and when do you need to register for VAT?”. We will answer these and more questions in this article. Who needs to register for VAT? If you run a business that has…
It’s budget time again and in an effort to keep things simple, we have put together an article with some of the highlights from yesterday’s budget speech. If you are looking for all the details from Pravin Gordhan’s 2012 / 2013 budget speech, download the handy Pocket Tax Guide here. Personal income tax: If you…
SARS register for tax A common question we are asked is “How much do I have to earn to pay tax?” Each year SARS provides slightly different tax scales that are used to calculate income tax. In this article we will look at how much you will need to earn in order to be legally obliged…
Selecting a business structure First of all, Happy New Year! I hope your 2012 is a prosperous one. If you are starting a business in 2012 or looking to register a formal business structure, then this blog article is for you. We will briefly look at a few of the business structures you can register…
Business disposal – selling a business In a previous blog article I discussed Exit planning and how this should be incorporated into your business plan so that you, the business owner, receive the greatest value from the sale of your business when the need to sell arises. However, what happens if you haven’t planned for…
Whether you are looking to buy or sell your business, you will need a professional business valuation. Unfortunately business valuation methods are a dime a dozen and as all businesses are unique, it is vital to use the correct formula for your business to reach a reasonable market value. As a business owner, there are…
What is an exit plan? If you are reading this, you are likely interested in finding out more about what an exit plan is and the value of exit planning, correct? You possibly have a small business and are familiar with the importance of a business plan? Now, what if I told you, your exit…