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Invoices – A must do when creating invoices

South Africa operates a VAT system whereby businesses (vendors) are allowed to deduct the VAT incurred on business expenses (input tax) from the VAT collected on the supplies made by the business (output tax). The most important document in such a system is the tax...
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What is Non-Taxable or Exempt Income?

“Non-Taxable Income” or “Exempt Income” is income which you receive which you are allowed to exclude from your Gross income and in so doing you do not get taxed on it. Some Examples include: Dividends received from a South African source South African interest...
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SARS VAT Audits – Tax Administration Act

The Tax Administration Act (TAA) Section 41 allows SARS to select you for an audit by: 1.       By random selection; 2.       On a cyclical basis; or 3.       With an audit/verification.
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Vat Categories

Category A: Bi-Monthly - Un-even Months 2 month period ending on uneven months (January, March, etc). Applicable to vendors with taxable supplies not exceeding R 30 million in a 12 month period, or farmers with taxable supplies that exceed R 1.5 million in a 12 month...
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Our Tax service offerings vary from individuals to large companies, including alternatives such as provisional tax and capital gains tax (CGT).

Managing your taxes shouldn't be a nightmare and a dreaded event of the year. Rather check out the different sections below about some specifically mentioned services or Contact us today to assist and manage it for you

Business Tax Planning

Diversifying across all areas of taxation to maximise the opportunities we can offer you, SMB Accountants specialise in different areas of taxation, ensuring our knowledge and expertise is always bang up to date, innovative and accurate, giving you the peace of mind that whatever it is, it’s taken care of. That’s what gives us a buzz, helping you.

There are countless tax planning strategies available to a small business owner. Some are aimed at the owner’s individual tax situation, and some at the business itself. But regardless of how simple or how complex a tax strategy is, it will be based on structuring the strategy to accomplish one or more of these often overlapping goals:

  • Choose the correct tax entity for your enterprise
  • Increase allowable deductions
  • Manage your payroll structures and employee taxes
  • Effectively compile an employee salary structure
  • Making optimal choices for example the benefits of buying versus the leasing of an asset

In order to plan effectively, you’ll need to estimate your personal and business income for the next few years. This is necessary because many tax planning strategies will save tax dollars at one income level, but will create a larger tax bill at other income levels. You will want to avoid having the “right” tax plan made “wrong” by erroneous income projections.

Managing your taxes shouldn't be a nightmare and a dreaded event of the year. Rather Contact us to assist and manage it for you.