What tax types are covered in Tax Fundamentals I?

This workshop covers six essential tax types under the Income Tax Act 58 of 1962: Income Tax, Provisional Tax, Capital Gains Tax, Dividend Tax, Donations Tax, and Turnover Tax. You'll learn calculation methods, compliance requirements, and strategic planning for each tax type.

How much can I save on taxes by understanding allowable deductions?

Properly claiming allowable deductions can save small businesses 20-40% on their tax obligations. Common overlooked deductions include home office expenses, vehicle costs, training expenses, and equipment depreciation. Our training helps you maximise legitimate deductions while staying SARS compliant.

What's the difference between income tax and provisional tax?

Income tax is the annual tax on your total taxable income, while provisional tax is an advance payment system where you pay estimated tax in advance based on expected income. Provisional tax helps spread tax payments throughout the year and avoids large lump sum payments.

When do I need to register for provisional tax in South Africa?

You must register for provisional tax if your income tax liability exceeds R1,000 for individuals or companies. Registration is required within 21 business days of meeting the threshold. Our training covers registration procedures and optimal timing strategies.

Can this training help me avoid tax penalties from SARS?

Yes! Understanding tax fundamentals and compliance requirements significantly reduces the risk of SARS penalties. We cover proper record-keeping, deadline management, accurate calculations, and communication strategies to maintain good standing with SARS.

What's capital gains tax and when does it apply to my business?

Capital gains tax applies when you dispose of capital assets (like property, equipment, or investments) for more than their base cost. Currently, companies pay tax on 80% of capital gains at their normal tax rate. Our training covers calculation methods and planning strategies.

Workshop 05: Tax Fundamentals I - Master Business Tax Basics

Why Tax Knowledge Matters

"The hardest thing in the world to understand is the income tax." — Albert Einstein

Understanding taxation isn't just about compliance—it's about taking control of one of your business's most significant ongoing obligations. The Income Tax Act 58 of 1962 governs five distinct tax types that affect your business operations and financial planning.

The reality? Tax knowledge transforms anxiety into strategic advantage, helping you make informed decisions and maximise legitimate savings throughout the year.

Tax season approaching? Staring at SARS deadlines with that familiar knot in your stomach? You're not alone. Most entrepreneurs understand their business inside out but feel completely lost when it comes to tax obligations.

Here's the reality: Tax isn't just something you deal with once a year—it's an ongoing part of running a profitable business. Understanding the fundamentals can save you thousands and help you sleep better at night.

The 6 Key Tax Areas You'll Master

Income Tax Fundamentals

Understand the difference between gross income and taxable income, and learn how business profits become tax obligations.

Allowable Deductions

Discover which business expenses you can legally deduct to reduce your tax liability and maximise savings.

Provisional Tax

Learn how to calculate and pay provisional tax correctly to avoid penalties and manage cash flow effectively.

Capital Gains Tax

Understand when capital gains tax applies to your business and how to calculate it accurately.

Dividend Tax

Learn how dividend tax is withheld from shareholder payments and understand your obligations as a company director.

Donations Tax

Understand donations tax implications on asset transfers and available exemptions for business and personal donations.

Why Tax Knowledge Transforms Your Business

Predictable Cash Flow

Plan cash flow accurately by understanding and predicting your tax obligations throughout the year

Maximise Legal Deductions

Identify and claim all legitimate business expenses to reduce your tax liability legally and confidently

Compliance Confidence

Meet SARS requirements without anxiety, avoiding costly penalties and interest charges

Strategic Tax Decisions

Make informed business decisions by understanding the tax implications of transactions and investments

Professional Communication

Communicate confidently with accountants and tax practitioners, making better use of their expertise

Significant Cost Savings

Avoid overpaying through ignorance and reduce reliance on expensive professional services for basic tasks

By the end of this workshop, you'll confidently answer:

"What's the difference between gross income and taxable income?"
"Which business expenses can I legally deduct under the General Deduction Formula?"
"How do I calculate my provisional tax payments?"
"What's capital gains tax and when does it apply to my business?"
"How does dividend tax work when I pay myself from my company?"
"When does donations tax apply and what are the exemptions?"
"Should I consider turnover tax for my micro business?"
"What's the difference between Tax Year and Tax Season?"
"How do I stay compliant with the Income Tax Act 58 of 1962?"

What You'll Receive

Comprehensive Training Manual

Detailed guide covering all tax fundamentals with practical examples, calculations, and SARS requirement explanations.

Tax Planning Templates

Ready-to-use spreadsheets for provisional tax calculations, deduction tracking, and tax year planning.

Access to Mentorship & Coaching

Expert guidance from experienced business advisors who understand South African regulations and requirements.

Available Formats

In-Person

Duration: 3 hours + Q&A
Includes: Follow-up coaching/mentorship session.

Investment: R3,599

Book In-Person

Live Online

Duration: 2.5 hours + Q&A
Includes: Follow-up coaching/mentorship session.

Investment: R2,799

Book Live Online

E-Learning

Duration: Self-paced
Includes: Discounted coaching/mentorship sessions

Investment: R699

Access E-Learning

Who This Workshop Is Perfect For

New business owners starting their tax journey and needing foundation knowledge
Entrepreneurs confused by tax complexity seeking clear, practical explanations
Business owners seeking tax savings who want to maximise allowable deductions

Provisional tax payers needing to understand calculations and payments
Anyone worried about SARS compliance wanting to avoid penalties
Strategic business planners who need to understand tax implications of decisions

Tax Fundamentals I