Taxation of SMMEs


Date: Aug 12, 2024 - Aug 12, 2024

CPD hours: 2 Hours

Time: 15:00 - 17:00

Event Type: Webinar

Presenter: Prof. Jackie Arendse

The small business sector is a vitally important part of the South African economy, particularly considering the critical need to create jobs and promote economic growth. Tax incentives for SMMEs were introduced in the early 2000s, and the Davis Tax Review Committee scrutinised tax policy relating to SMMEs in 2014.

Overview

The small business sector is a vitally important part of the South African economy, particularly considering the critical need to create jobs and promote economic growth. Tax incentives for SMMEs were introduced in the early 2000s, and the Davis Tax Review Committee scrutinised tax policy relating to SMMEs in 2014. However, no new or expanded tax incentives have been introduced for SMMEs in recent years.

With limited resources and significant tax risks, SMMEs face considerable challenges in applying the tax legislation. Compliance costs are disproportionate compared to larger businesses, and mistakes can be extremely costly!

This webinar seeks to assist small business owners, managers, and advisors in managing their tax affairs effectively. We focus on current tax issues particularly relevant to the SMME sector, covering available incentives, income tax, capital gains tax, dividends tax, and other tax areas specifically relevant in an SMME context.

We identify specific areas of tax risk that SMMEs need to watch out for and help you develop strategies to manage these risks, enabling you to avoid costly SARS penalties, interest, and disputes. We also explain the tax relief and planning opportunities available to SMMEs and show you how to access these.

The investment in attending this webinar will pay for itself many times over, as you will come away with a wealth of information that you can immediately apply to your business. If you are involved in the SMME sector, you can’t afford to miss this webinar!


Webinar Content

This webinar will focus on the tax aspects of small business, including the following:

  • Tax risk management for SMMEs.
  • Small business corporations – benefits and qualification criteria.
  • Turnover tax – definition and qualification criteria.
  • Sole traders, personal service providers, and trusts – tax risks and management strategies.
  • Dividends tax and the withholding obligation.
  • Tax pitfalls of interest-free and low-interest loans.
  • Provisional tax.
  • Tax administration provisions affecting SMMEs and strategies to manage SARS penalties and interest.

Competencies Developed

Upon successful completion of the course, you will be able to:

  • Identify tax risk priorities and develop strategies to manage them.
  • Access existing tax incentives for SMMEs.
  • Maintain tax compliance.
  • Manage SARS penalties and interest if they arise.
  • Perform accurate provisional tax calculations.

Presenter

Professor Jackie Arendse 

B Acc (Wits) M Acc (Tax) (UKZN) Chartered Accountant (SA) PhD (Accounting) (Rhodes)

After completing her training at Deloitte and qualifying as a Chartered Accountant, Jackie was Group Financial Accountant for a top-100 listed company before moving to academia where she developed her skills as an academic – authoring, lecturing, and researching on a wide range of tax areas – and also completing her master’s and PhD qualifications.

She served as Project Director: Tax at the South African Institute of Chartered Accountants (SAICA) between 2004 and 2006, managing relationships with key stakeholders (especially SARS and National Treasury), enhancing SAICA members’ tax competence and representing SAICA in discussions with government on tax policy and legislation.

Jackie was Head of the School of Accountancy at Wits University from 2009 until 2013 and was Head of the Department of Accounting at Rhodes University from 2014 until 2020. Since 2021, she has been Head of Taxation at Academic One, which is developing a fully online CTA/Accounting Honours programme, and she continues as a sought-after presenter of tax seminars and webinars.

Jackie has presented tax training to tax practitioners, accountants, small businesses, and large corporates around the country for many years and has authored numerous books, articles, and publications in the field of taxation including Silke on South African Income Tax. She is the managing author of Silke on Tax Administration, published by LexisNexis and updated annually.


CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 2 hours of Tax CPD.


Event Investment

Free for Tax Technicians, Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

  • Regular price:  R460.00
  • Special rate for SAIT members:  R368.00
  • Group booking discounts available when you register for a group.

Payments and cancellations

  • All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
  • Kindly note that should payment not be received two days after the event, legal action will be taken.
  • Proof of payment will be requested at registration if payment does not reflect in The Tax Faculty’s bank account.
  • Only written notice of cancellation will be recognized.
  • Conditions:
    • If the cancellation occurs more than four working days prior to the event no cancellation fee will be charged.
    • If the cancellation occurs less than four working days prior to the event, a 100% cancellation fee will apply.
  • Delegates who book and fail to attend will be liable for the full event fee.
  • The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
  • Please click here for the full terms and conditions.

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