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News & Press: Individuals Tax

Tax implications to consider when starting your own business

Tuesday, 16 April 2013   (1 Comments)
Posted by: Author: Johan Swart
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Source: Johan Swart (Moneywebtax)

Executive Summary

One of the most important things to think about when you start a business of your own is what it will mean for your tax affairs. Before you get up and running, you should choose a legal structure that will comply with SARS requirements while helping you maximise your income and minimise your tax burden and personal exposure to risk, says Johan Swart, tax manager at Legal and Tax. 

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Elma Schoombie says...
Posted Wednesday, 08 May 2013
The problem with setting up a business is that most people do not know what they have to comply with. For example having to register with the UIF, Workmans Comp, registering as an employer with SARS etc. If a person seeks help with a CA or CFA they are astonished by the cost of compliance. Most people do not seek help and are therefor not compliant. I wonder how much revenue the state looses because of this

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