Bookkeeper

In terms of the new 2012 budget, the tax-free threshold for small business corporations has increased to R63 556, the 10% rate has been reduced to 7% and the threshold to which this rate applies has been increased to R350 Continue reading 2010 Tax Threshold for Small Businesses→

Business owners are also individual tax payers – which means that the adjustment of tax tables, rebates and all other issues like the deductibility of contributions to pension, provident, and retirement annuity funds affect them in exactly the same manner Continue reading Business Owners: How the 2012 Budget will Affect You→

New Medical Deductions There have been many mixed reactions to the new structure of the Medical Credits for 2013. For tax payers below the age of 65, the medical capping will be replaced by a monthly medical tax credit of Continue reading Medical Credits for 2013→

How Much Should Preparing a Tax Return Cost?   There are an increasing number of tax payers who can benefit materially from hiring a professional Tax Practitioner to prepare their tax returns. But how much should it cost? That will Continue reading How much should a Tax Prep cost?→

The budget and your wallet: Personal income tax relief of R9.5bn. 54% of the relief will go to taxpayers who earn less than R260 000 a year. General fuel levy increases by 20c a litre, the Road Accident Fund levy Continue reading Budget 2012→

If you own a small business, you could be saving just under R60 000 in small business tax when compared to normal tax rates. You can also avoid hefty penalties because of non-disclosure. Let’s start by defining a small business. Continue reading Small Business Tax→

Sars given right to slap taxpayers with fat penalties Monique Vanek 23 February 2009 You could pay up to R16 000 for non-compliance. The news may not be good for those who failed to get their tax returns in by Continue reading SARS Penalties and Fines→

The most cost-effective solution is to outsource tax requirements to a professional tax services consultancy or bookkeeper. At Smart Accounting we provide a full range of tax services from making sure you are registered, receiving and completing forms correctly to Continue reading Professional Tax Services→

It’s Financial Year End Again! For many businesses and professionals in South Africa, its that time of year again – the financial year end. The reason for this is mainly because it’s also the end of the income tax year Continue reading 2012 Financial Year End→