Short Course in Tax Implications Specific to Small Businesses and other Entities

Self-employment, small and micro businesses form the basis for job creation in South Africa. SARS has therefore implemented special relief systems to support entrepreneurship in South Africa. This short course will focus on the special taxation rules for small, micro and other types of entities, including special relief and the turnover tax system. Our Short Course is tailored to meet the unique needs of entrepreneurs and business owners, equipping you with the knowledge and strategies to navigate tax regulations effectively.

Mode of delivery

This Short Course will be presented on The Tax Faculty’s online learning Campus. Refresh your foundational knowledge anytime from anywhere!

Duration and effort

This Short Course will be available to learners to complete at their own time and pace.

  • Video hours: 1.5 hours
  • Approx Reading hours: 15 hours
  • Recommend Length to complete: 2 to 4 weeks

What you will learn in this course

The following modules will be covered:

  1. Introduction to the taxation of other entities.
  2. Small Business Corporations.
  3. Introduction to Micro businesses.
  4. Taxation of labour brokers and Personal service providers.
  5. Introduction and taxation of partnerships.

Outcomes:

  • Outline the definition of a small business corporation and evaluate whether an entity meets the requirements of the definition in a case study scenario.
  • Explain the special relief mechanisms in terms of rates and tax write-offs available for a small business corporation.
  • Discuss the criteria for entry into the turnover tax system and the basic trade-offs of the presumptive tax versus the normal income tax regime.
  • Distinguish between qualifying turnover and taxable turnover for a micro business and calculate each of the above in accordance with the provisions of the Sixth Schedule to the Income Tax Act.

Pre-requisites

  • A foundational understanding of the income tax framweork
  • Digital and numeracy literacy.
  • A Laptop/PC with high-speed internet access.

This course is for:

  • Small business owners and entrepreneurs.
  • Aspiring business owners.
  • Finance and accounting professionals.
  • Anyone looking to maximize tax efficiency for small businesses.

Accreditation

This course is presented as a short learning programme (SLP) by The Tax Faculty (TTF). TTF is recognised as a continuous professional development (CPD) provider by controlling bodies accredited in terms of the Tax Administration Act, 2011 (Act No 28 of 2011), and holds accreditation with the Quality Council for Trades and Occupations (QCTO) as a skills development partner (SDP) under the Skills Development Act, 1998 (Act No 97 of 1998).

Assessment and award of certificate

A number of self-assessments are included in the course. Learners are assessed via a final integrated assessment. Successful learners will receive a SLP certificate of competence issued by The Tax Faculty. In addition, this just-in-time learning programme also qualifies for 3 verifiable Tax CPD.

Course fee

Once-off payment

Once off immediate payment to gain access to the course in total of: R1 950.00.

*No flexibible payment plans available on this course.

Payments and cancellations

  • All required minimum payments must be made by direct EFT or by credit card before the commencement of a course. The once-off payment is required to be paid in order to gain access to start the course. 
  • Kindly note that should payment terms not be adhered to; legal action will be taken and access to the online learning platform suspended.
  • Proof of payment will be requested before access to the online platform will be communicated, should your payment not reflect on The Tax Faculty’s bank account.
  • Only written notice of cancellation will be accepted.

Conditions

For all short learning programmes (SLPs) with a seven-month or less rollout period, the following will apply:

  • If the cancellation is requested more than 10 working days prior to the course release date, no cancellation fee will be applicable.
  • If the cancellation occurs less than 10 working days prior to the course release date, a 100% cancellation fee will be applicable.
  • Students who register for a course and fail to attend will be held liable for the full course fee.
  • The Tax Faculty’s liability in the case of a course being cancelled will be limited to a refund of the course fee.
  • Students who have failed to successfully complete the course, and wishing to repeat will be charged the full course fee to repeat.

Why wait?

The short course in 

Skill Level: Beginner