- Find out right here what to do if you can't afford minimum wages
- Minimum wages are legislated through either sectoral determinations or bargaining council agreements.
These minimum wages are considered legally binding and failure to meet them could hold you liable for back-pay or even prosecution.
But what if you just can't afford to pay the minimum wages? Read on to find out... If you truly can't afford to pay minimum wages, then you must apply for an e... ››› more
- [08 January 2016]
- Did you know: Your foreign dividend qualifies for a partial tax exemption?
- Remember when SARS would give taxpayers a measly exemption for foreign interest and dividends? Now, due to new amendments, SARS taxes the balance at the full tax rate (28% for companies and up to 40% for individuals). But that doesn't mean you don't get a kick back.
Below we show you how your foreign dividend qualifies for a partial tax exemption
First of all, you can calculate the partial ex... ››› more
- [12 June 2015]
- Four different transport types and how Vat is charged
- Whether you run a transport company or have to transport employees, you need to know the Vat rules that apply to passenger transport in South Africa.
Today, we're sharing those with you.
Vat and transport costs: What you need to know
As a main rule, the transport of fare-paying passengers in South Africa is exempt from Vat. This includes road and rail. While it doesn't specifically refer ... ››› more
- [27 May 2015]
- Don't miss out on your transfer duty Vat exemption - here's how to keep the money in your bank
- Over the last few years, SARS lost millions of Rands in transfer duty, thanks to fraudulent claims for the Transfer Duty exemption. SARS issued this Transfer Duty exemption because the seller declared he was a Vat vendor. So since Vat was payable on the transaction, there was no transfer duty. The Vat vendor walked away smiling - his Vat bill had shrunk. But when the SARS auditors finally got arou... ››› more
- [18 May 2015]
- What tax must a charitable Trust register for?
- What do you know about the tax treatment of a charitable Trust. Must this type of Trust register for income tax and Vat?
Or should the Trust only be registered for Vat and not income tax.
Read on to find out the answer...
Regardless of what Trust it is, it must be registered for income tax
Whether it must be registered for Vat will depend on it meeting the requirements for registration i... ››› more
- [18 March 2015]
- The Employment Tax Incentive Act excludes these three types of employers from claiming ETI benefits. Are you one of them?
- The Employment Tax Incentive Act (ETI Act), or the 'youth wage subsidy', came into effect for all payroll periods as of 1 January 2014. It aims to help you bear the cost of offering employment to the unemployed youth of South Africa.
Your business can qualify for the ETI if you registered, as an employer, for PAYE with SARS, and have a PAYE number.
But there are certain companies that don't... ››› more
- [02 December 2014]
- Want to pay less company tax? Here are 25 ways to do just that
- Did you know there are 25 types of income SARS exempts from normal income tax? Using them could help your company pay significantly less tax.
Read on for the full list of all 25 types of income this applies to so you can claim for your exemption today...
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Order your copy of the Digital Practical Tax Handbook today and get the 10 legal... ››› more
- [28 October 2014]
- There are three forms of income SARS exempts from income tax. Do you qualify for any of them?
- Your company has to pay SARS income tax. Otherwise, you're guilty of tax evasion and that means serious legal troubles.
But did you know there are certain types of income that this rule doesn't apply to?
There are, in fact, three forms of income that are exempt for income tax.
Read on to find out what they are to see if you qualify for an exemption...
Do you qualify for any of t... ››› more
- [28 October 2014]
- Selling your small business? Here's how Capital Gains Tax affects you
- Running a small business can be scary, especially when you invest all your money into it. A lot of people do this to try to build up retirement capital.
But then, there's Capital Gains Tax (CGT) that'll take a massive bite out of your retirement money when you sell the business.
If this is something you're scared of, I have good news: There are special concessions for small business owners w... ››› more
- [08 August 2014]
- Great news! There's ten assets that are excluded from Capital Gains Tax
- The rule of Capital Gain Tax (CGT) is if you make a capital gain, SARS wants part of it. It takes this part by taxing your profits.
This makes CGT every business owner's biggest bugbear. Every time you make a bit of extra profit, suddenly half of it goes into SARS' deep pockets.
But there's good news, there are certain assets CGT doesn't cover. Find out what they are, so you can find out ho... ››› more
- [08 August 2014]