I have a client who runs a Radiology Clinic which operates as a Close Corporation. Her turnover is less than R14 million per annum. She is not a member of another CC or company. Per the Income Tax Act a business cannot be classified as a SBC for tax purposes if it is a Personal service business which includes Health. Am I correct in saying that her business does qualify as a SBC because she employs three or more unconnected full-time employees for core operations.

Is deregistering for income tax and registering for presumptive turnover tax the best move for your business? What’s the best way of accurately calculating your taxable income estimate for provisional tax? You can’t find the new administrative penalties in the Income Tax Act...so where did they come from?

Times are tough at the moment, with many families facing an uncertain future. Retrenchments are the order of the day with many companies being forced to let key staff in order to survive the current economic situation. If you are in this unfortunate situation, you will know that now is the time to think outside the box and make a plan. 

There’s been a lot of (understandable) excitement around the newly introduced micro-business regime and its turnover tax system. If your business has employees who aren’t liable for employees’ tax, SARS now won’t require them to register for employees’ tax. Also, if your business has a payroll of up to R500 000, it’s also not liable for the SDL.