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FarmerBob says: 20 May 2016 at 11:45 Please could you direct me onto the right path. I am in the process of starting a small agricultural business, small here meaning the minimum amount of employed staff as required by SARS to be classified as a small business, but the business has a very high income potential which does not correspond to the financial numbers required to be classified as a small business as stipulated by SARS. The figures exceed the indicated numbers as set forth by SARS. How do I calculate the correct business tax amounts for a small business and still be classified as a small business even if the generated taxable income far exceeds the amounts provided by SARS? |
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TaxTim says: 22 May 2016 at 22:16 The Small Business is based on the current turnover, not the future anticipated amount. |
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FarmerBob says: 23 May 2016 at 7:16 Thank you very much! This helps |
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TaxTim says: 24 May 2016 at 9:19 Only a pleasure! |
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