Starting a construction company in SA is relatively easy. We will detail for you some of the basic things that you need to have in place to get started. If you want your construction company to be eligible for public contracts and tenders, you need to follow a few formalities to ensure you are tax … Continued
What is a Non Profit Organisation? The Non Profit Organisations Act 71 of 1997 states that a Non profit Organisation is ‘a trust, company or other association of persons – established for a public purpose; and the income and property of which are not distributable to its members or office-bearers except as reasonable compensation for … Continued
What is Administrative Penalty? An Administrative Penalty (Admin Penalty) is a penalty in accordance with the Tax Administration Act (TAA). The Act prescribes the various types of non-compliance which are subject to fixed administrative penalties. The penalty is imposed only for non-submissions of tax returns in respect of individuals and companies: For individuals the penalty … Continued
What is an annual return? An Annual Return is a statutory return in terms of the Companies and Close Corporations Acts and therefore MUST be complied with. The purpose for the filing of such annual returns is to confirm whether a company or close corporation is still in business or trading, or if it will … Continued