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Balancing the Books: Why Bookkeeping is Essential for Your Business
Good bookkeeping practices can make or break a business; neglecting this crucial task can lead to financial chaos. In this article, we will explore the importance of bookkeeping and provide some tips on how to effectively manage your finances. Bookkeeping may not be the most exciting aspect of running a business, but it is certainly…
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SARS Tax on rental income
What is rental income? If an individual rents out a property (generally residential accommodation) and receives rental income, the amount received will be subject to income tax. Residential accommodation can include: How is tax calculated on rental income? The rental income you receive should be added to any other income you may have, but will…
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Register with SARS for tax relief as a small business
Discover how to Register with SARS for tax relief as a small business. From the 2000 tax year special tax rates were introduced for any company that qualifies as a Small business corporation (‘SBC’). This was done to provide some tax relief thereby promoting the growth and prosperity of certain smaller companies. In terms of…
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Online Provisional Tax Calculator
Ever wondered how provisional tax is calculated? Try our online provisional tax calculator to discover the estimated provisional tax payable to SARS. What is provisional tax? if you as an individual receive income that doesn’t fall under the general definition of ‘remuneration’, you may be required to pay provisional tax. As with employee’s tax ,…
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Online calculator of taxable income of a registered business
Have you ever wondered how to calculate taxable income of a registered business, with our online calculator for taxable income of a registered business you can calculated your expected tax payable to SARS in just a few clicks? In the language of income tax the taxable income of a business is slightly different to the…
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FAQ: How do I get my SARS business income tax number?
This is a common question we often come across timeously. How do I get my SARS business income tax number? Well the solutions are simple to say the least, follow the below three easy steps and get your SARS business income tax number in minutes. There is two ways in which you can get your…
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Register as an exporter with SARS in South Africa
What is an Exporter? Any person (local or foreign) who wishes to export goods from South Africa must register as an exporter, including for the exportation of continuous transmission commodities (CTC). Any foreign exporter (e.g. individual or juristic person) who wishes to export goods from South Africa must register as an exporter and nominate a registered…
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Steps to take to register as an importer in South Africa
About import permits If you are planning to bring controlled goods, used goods, second-hand goods, waste or scrap into the country, you first need to register as an importer with the South African Revenue Service (Sars) and then apply to the International Trade Administration Commission (ITAC)(link is external) for an import permit. An import permit ensures that the goods…
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How to register as an Importer in South Africa with SARS
What is an importer? Any person (local or foreign) who import goods into South Africa must register as an importer including the importation of continuous transmission commodities (CTC). Any foreigner importer (e.g. individual or juristic person) who wishes to import goods into South Africa must register as an importer and nominate a registered agent located…