The Five Most Common Tax Pitfalls That Small Business Owners Should Avoid
There are five common tax pitfalls that owners of small businesses should look out for and avoid. These hazards include three value added tax (VAT) issues, one provisional tax matter, and the fifth item deals with the tax implications for owners of small businesses when they draw money from their company. Failing to avoid these […]
SMMEs: Preparing for the Second Wave
“Forewarned is forearmed” (Samuel Shellabarger, Prince of Foxes) The daily Covid-19 infection rate has decreased considerably over the last month or so. South Africans have found a way to live with the risk of infections and have in the recent past become generally more active. This has increased the fear that there might be a […]
Six Tips for More Effective Online Meetings
“Meetings should be like salt – a spice sprinkled carefully to enhance a dish, not poured recklessly over every forkful. Too much salt destroys a dish. Too many meetings destroy morale and motivation” (Entrepreneur and author of “Rework”, Jason Fried) While the capacity for digital meetings and interviews has been around for some time, they […]
Leaving a Legacy: Ensure Your Business Survival with a Succession Plan
“A leader’s lasting value is measured by succession.” (John C. Maxwell) Succession planning is preparing for the future of your business, ensuring the people and resources are available for its ongoing success beyond the lifetime of the current key players. It is especially critical in small businesses where the loss of a key person can […]
Tax Incentives to Invest in Small Business: The Clock is Ticking
“Creating an environment in which SMMEs can thrive is inextricably linked to creating conditions in which all businesses can thrive.” (National Treasury, 2019 Economic Strategy document) The VCC (Venture Capital Companies) incentive allows a holder of shares to claim a 100% tax deduction of the cost of the shares issued by an approved VCC, provided […]
How Chaos Sparks Business Innovation
“All great changes are preceded by chaos. The disruption we see in the world is the prelude to emergence.” (Deepak Chopra) The greatest innovation is created in times of chaos. Many successful business stories began during times of recession, depression, chaos and crisis. Not paralysed by uncertainty or frightened into inaction, these business leaders and […]
Tips and Ideas to Retain Your Best Staff and Skills During COVID-19
Small businesses across South Africa face the challenge of keeping their best staff and skills during the COVID-19 pandemic to ensure that they can survive these hard times and can thrive when the economy picks up again. For small and medium enterprises (SMEs), keeping top talent is vital to ensuring that these companies deliver effective […]
Six Important Business Lessons From The Coronavirus Pandemic
“Given the nature of the crisis, all hands should be on deck, all available tools should be used” (Christine Lagarde, President of the European Central Bank) 1. Working from home is possible Ever since the creation of the internet employees have been pushing for more opportunities to work from home and the vast majority of […]
Your Tax Deadlines for September 2020
1 September – Starting date for online filing 1 September – Branch filing – Taxpayers who cannot file electronically 1 September – Start date – Provisional taxpayers who file electronically 7 September – Monthly PAYE submissions and payments 25 September – VAT manual submissions and payments 29 September – Excise Duty payments 30 September – […]
Employees Working from Home: What Tax Deductions Can You Claim?
“We like to give people the freedom to work where they want, safe in the knowledge that they have the drive and expertise to perform excellently, whether they at their desk or in their kitchen. Yours truly has never worked out of an office, and never will” (Richard Branson) Thousands of employees have had to […]