skip to content

Taxco Income Tax for the Micro Business

Taxco Income Tax for the Micro Business

 

This course provides information about a simplified tax system that is available for micro businesses (businesses with a qualifying turnover of R1 million or less). The system provides for a single tax in the place of normal tax, capital gains tax (CGT) and, to an extent, dividends tax. Under normal circumstances an application to switch to (or from) the system must be made before 1 March each year.

As the system is optional, it is important to thoroughly review the operations of a business before deciding on whether to switch or not. Factors such as the overhead costs of the business, its expected taxes otherwise payable and – most importantly – its tax compliance costs should be taken into account in making the decision.

One day facilitated workshop

 

Print this page | Back to top