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Do you or your employees qualify for this R30 000 tax break?

by , 02 August 2013
R30 000 isn't exactly pocket change, but SARS is willing to give you a tax breaks under special circumstances. Read on to see if you qualify for these tax breaks.

We know that paying taxes is, well, taxing. And we know how you rely on tax breaks to shrink your tax bill legitimately and get the most of your business transactions.

Did you know there are 30 tax deductions you can use for small and medium business today?

Let's have a look at a few of them…

Start saving with these 30 practical tax deductions for small and medium businesses right now:

  • Tax Break #1 - Wear and Tear Allowance: You can claim back thousands on air conditioners, computers and photocopiers.
  • Tax break #2 - Claim back some of the costs you incurred to start your business: These costs include advertising, sales related travel expenses and so much more!
  • Tax break #3 – Did you know you can claim back a tax deduction on removal costs! It's true! So if you've moved offices, you can claim the full moving expenses under the small business allowances tax break.
  • Tax break #4 – Don't forget there are three repair and maintenance expenses available to you to minimise your tax bill. You can claim this on any expenses for the repair of macchinery, implements and utensils you use in your trade.
  • Tax break #5 - Spread your lease premium allowance over many years. Doing this one thing can save you thousands!

Just by using these tax break in your company, you could save as much as R30 000 this tax year.

If you want to know more about these 5 tax breaks and the other 25 available simply click here…



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Comments
1 comments


Yolandi 2013-08-06 10:46:33

Good day

I'm a bit concerned that the article published on 2 August 2013 named "Do you or your employees qualify for this R30 000 tax break" contains incorrect information.

The R30 000 exemption fell away as from 1 March 2011. There is a R315 000 cumulative exemption for these type of lump sums and retirement funds. It is not applicable if an employee resigns, as mentioned.

Regards

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