Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Confused as to how I should register my business?

Posted 2 October 2013 under Tax Questions


Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
I am stuck as to what type of business to open. Whether a close corpration or company? I have seen that the close corporation has been discontinued. Is there another option for a small business?

This entry was posted in Tax Questions and tagged . Bookmark the permalink.

TaxTimTaxTim says:
2 October 2013 at 12:53

Please provide further details of the business activities, number of staff members and expected annual profit.


Ian says:
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.


TaxTimTaxTim says:
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.


Ian says:
2 October 2013 at 15:37

Many Thanks


TaxTimTaxTim says:
3 October 2013 at 10:55

Only a pleasure!


Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE