Tag Archives: SMME

Your Tax Deadlines for May

Your Tax Deadlines for May 2022

06 May Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 May Value-Added Tax (VAT) manual submissions and payments 30  May Excise Duty payments 31   May Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be […]

The New Employment Tax Incentive Limits

What The New Employment Tax Incentive Limits Mean for Your Business

“Since the unemployment rate in the Republic is of concern to Government; and since Government recognises the need to share the costs of expanding job opportunities with the private sector…” (Preamble to the Employment Tax Incentive Act 26 of 2013 [ETI Act]) During Finance Minister Enoch Godongwana’s 2022 Budget Speech, a substantial 50% increase in […]

Outsourcing for Small businesses

Outsourcing for Small businesses

“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.” (Lee Kuan Yew, Former Prime Minister of Singapore) Launching a business requires the small business owner to wear many hats. From marketing, to accounting and HR the small business owner needs to learn any number of skills to […]

small business funds

A Guide to Accessing Funds That Can Help Your Small Business

“All company bosses want a policy on corporate social responsibility. The positive effect is hard to quantify, but the negative consequences of a disaster are enormous” (English economist and academic, Noreena Hertz) Stimulating the SME sector is considered as one of the quicker ways to rejuvenating the economy. According to a 2020 survey by McKinsey […]

Easy SMME Tax Compliance

SARS Makes SMME Tax Compliance Easier

Tax compliance among Small, Medium and Micro Enterprises (SMMEs) has been forced into the spotlight by The South African Revenue Service (SARS) who in January launched a new monthly newsletter dedicated to the sector. The January issue covered the matter of tax compliance and revealed a number of new initiatives by SARS to streamline services […]

Employee Benefits

SMEs – Why You Should Consider Employee Benefit Packages

  “Human resources isn’t a thing we do, it’s the thing that runs our business” (American real estate developer, Steve Wynne) An effective employee benefit strategy is more of an advantage to an employer than may at first meet the eye. Although providing benefits naturally comes at a price, it also comes with substantial benefits, plus you stand […]

Tax Deadlines

the future of hybrid work: What SMEs Need to Know

“Success in a hybrid work environment requires employers to move beyond viewing remote or hybrid environments as a temporary or short term strategy and to treat it as an opportunity” (Vice President of Gartner, George Penn) The gradual transition from the conventional office environment to a remote, tech-savvy workforce has been topical in various industries […]

Capital Gains Tax Exclusion

How To Get a R1.8m CGT Exclusion When Selling Your Small Business

“The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital… the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy” (John F. Kennedy) Since October 2001 South African tax residents have been liable for capital gains tax […]

Business Plan

Boost Your Business Plan – Build an Effective Website with These 6 Tips

“Almost overnight the internet has gone from a technical wonder to a business must” (Bill Schrader)  No matter the size of your business or what industry you are in, building and maintaining an effective website should be at the heart of all your planning. The internet has become an essential part of everyday life and […]