TaxTalk Articles

The Tax Implications Of Franchising Arrangements

Entering into a franchise agreement sometimes provides a budding entrepreneur with an opportunity to get started in business. Our article looks at whether amounts paid or received constitute revenue or capital and the tax implications in each case.

The Risks Of Holding Dormant Companies

We take a look at how small businesses make use of dormant companies and the risks related to these entities. How does one go about terminating them?

Breaking Down The Barrier Of Business Start-Up Costs

Starting up a new business can be costly. Our article outlines how some of the initial costs can be deducted from income to reduce the new business's tax bill.

Factors Affecting The Value Of Trading Stock On Hand

Our article examines the difference in valuing trading stock for tax purposes or for accounting purposes, in the light of a recent Supreme Court of Appeal finding.

Fixed Assets And Capital Allowances

The tax adjustments relating to owned depreciable fixed assets remain one of the highest risk areas when submitting an ITR14. In this article, we take a high level look at some of the risk areas associated with depreciable fixed assets.

Amounts Received In Advance

Our article considers the disconnect between accounting principles and the Income Tax Act when it comes to advance payments and provides some tips on how to deal with this in practice.

Small Business Returns: Preparers, Take Care

Our article looks at the importance of submitting complete and accurate returns to avoid dire consequences, and also explores key considerations to be taken into account by the preparer of an ITR14.

Turnover Tax: Worthwhile Or Waste Of Time?

The turnover tax was intended to simplify tax matters for small business owners, to enable them to concentrate on their businesses. Our article looks at whether it achieves that aim.

Small Business Corporations: The Tax Dos & Don'ts

We look at the tax regime for small business corporations and highlight pitfalls that might lead to inadvertently falling out of the regime.