August and February are provisional tax months and everywhere we go we are bombarded with SARS advertising campaigns reminding you to submit your provisional tax return on time. These campaigns run by SARS are usually a very effective reminder for the majority of taxpayers to keep our taxes up to date. Then there are those[…]
Many businesses are classified or are being labeled as Small to Medium sized enterprises (SME’s). Do you however know that SARS has a specific tax incentive for Small Business Corporations and which businesses qualify.
Do you own, or have you ever thought of opening a guesthouse or bed and breakfast? The following special allowances might just give you the nudge you need. As a “Hotel Keeper” as defined in the Income Tax Act, you may claim a special allowance against your taxable income.