Please provide further details of the business activities, number of staff members and expected annual profit.
Iansays: 2 October 2013 at 13:51
The business has not been registered as yet, as I'm still not sure what direction to go. It will be a small business in Plumbing services. I would like to keep it small so that I can keep a control of things myself. I'm looking at a possible 4 employees and myself. I hope this answers the question.
TaxTimsays: 2 October 2013 at 15:14
If you are going to be earning a net profit of over R67 111 per annum then you should register a company with CIPC and thereafter you can act as a Small Business Corporation which will allow your company many tax breaks and lower tax rates applied to the net income.
Iansays: 2 October 2013 at 15:37
TaxTimsays: 3 October 2013 at 10:55
Only a pleasure!
Get Tax Deadline Reminders, News and Tips
We'll tell you when you need to file, along with tax tips and updates.