As a Director of a Company, your salary is subject to monthly PAYE and UIF deductions. Many small business owners don’t realise that if they operate their business through a company (Pty), the company needs to be registered as an employer with SARS. This means, the company needs to deduct employee’s tax (PAYE) from the…
Tag: tax
Donations tax – Estate Duty
Estate Duty is payable on the estate of every person who dies and whose nett estate is in excess of R3.5 million. It is charged at the rate of 20%. Estate duty is levied on property of residents and South African property of non-residents less allowable deductions. The duty is levied on the dutiable value…
Requirements In Terms Of The Companies Act In Respect Of The Annual Financial Statements
All companies must prepare annual financial statements (“AFS”). Public and State Owned companies (SOC) must have audited AFS while a Private, Personal liability and Non-Profit company is not required to have its AFS audited unless:
