The small business sector
is a vitally important part of the economy, particularly in light of the need
to create jobs and promote economic growth. Over the last decade a number of
initiatives have been introduced by Government to promote small business and
entrepreneurship and further changes are likely following the Davis Tax Review
Committee’s recent review of tax issues in the small business environment.
There are many areas of complexity in applying tax legislation in a SMME and
making mistakes can be extremely costly!
The Tax Issues for SMME’s
and Individuals, presented by Prof Jackie Arendse will focus on the various tax
issues relevant to SMME sector, from incorporation to the running of a business
and the final winding up thereof. The seminar covers income tax, dividends tax,
capital gains tax and VAT. Find out what tax relief and planning opportunities
are available to you and what common mistakes you need to watch out for. The
investment in attending this seminar will pay for itself many times over as you
will come away with a wealth of information that you can immediately apply in
are involved in the SMME sector you can’t afford to miss this!
I want to raise a concern based on INTENDED CONSEQUENCES of changes.
SARS has been very aggresively marketing e-filing to individuals, also branch services, as being very easy and user friendly, which it is AS A CHANNEL only: I still believe the aim is to convince the majority of taxpayers that DIY tax is worthwhile, which it certainly is for SARS' collections.
How can we be supported in countering this trend, now that SMME's are becoming a focus area. Where the ease of submissions ect improve there is certainly room to pass on savings to customers, but SARS is simply guilty of unethical marketing when it overstates the "ease of tax" in the increasingly legislated environment, to say nothing of in effect competing with practitioners in what is seems a clear conflict of interest.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.
MINIMUM REQUIREMENTS TO REGISTER
The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.