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How to Find and Secure Tenders for Your Small Business – 5 Expert Tips

There is a new lane for tendering and an urgent need for assistance from government that has been created by Covid-19 PPE tenders, and other tenders used to fight the pandemic that have increased the scope of tender targets for SMMEs. The government is seemingly incapacitated by the pandemic and the PPE tenders that have …

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Provisional Income Tax Due 26 February: Do’s and Don’ts for Companies

By the end of this month, the second provisional income tax payments for companies are due for a financial year that certainly ranks among the most difficult in recent memory – a year in which many business owners realised, as Thomas Dewar once put it, that paying income tax is in fact better than being …

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Companies: How to Manage Your Greater Tax Risk in 2021

South African companies are exposed to a significant tax risk. Companies are liable for a range of direct taxes, indirect taxes and employees’ taxes that are continuously subject to legislative changes and administrative improvements by SARS and National Treasury. This means not only great complexity and high cost in terms of compliance, but also high …

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6 Tips for Getting the Most from Your Tax-Free Savings Account

Tax-free savings accounts (TFSAs) have been around for just over five years, and yet many people still do not know about them, are unfamiliar with the benefits or don’t know how to take maximum advantage of this unique investment opportunity. Ideally part of a diverse portfolio, TFSAs are not quite as straightforward as they may …

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Accounting Tips for SMMEs in a Rocketing Tax Future

During his 2020 Medium-Term Budget Policy Speech not so long ago, Finance Minister Tito Mboweni announced that government has projected tax increases of R5 billion in 2021/22, which will be followed by increases of R10 billion in 2022/23, R10 billion in 2023/24 and R15 billion in 2024/25. These impositions will require SMMEs to utilise the best available accounting skillset to minimise …

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