Bonmas_blog

Prefer Offshore Companies for Business Registration and BBBEE Processes

Leave a Comment / Business Management / By / June 29, 2021

What are BBBEE certificates Actually, BBBEE Certificates are the type of economic empowerment which was initiated by the government of South Africa as the response to the condemnation over the narrow based empowerment which was initiated in the country in the period of 2003-2004. However, most of the business owners will have no idea about these things …

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wHY IS FILING CIPC ANNUAL RETURNS SO IMPORTANT

Leave a Comment / Business Management, Compliance, Start-up, TIps / By / June 21, 2021

All companies in South Africa are required by law in terms of the Companies and Close Corporations Acts to file annual returns. Failing to do so will this be a set back in terms of running your business should you fail as your company will be closed permanently if you fail to submit your CIPC …

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Benefits of Company registration with Bizportal

2 Comments / Business Management / By / November 4, 2020 / , , , ,

The CIPC has introduced a new way for new business owners to register their companies and that is through the platform Bizportal. The great thing about this platform is that it cuts on time and possibly money for you to register your new company. It was introduced on the 5th of November 2019 and it …

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Assistance for businesses that may be in distress due to National Shutdown

Leave a Comment / Business Management / By / March 25, 2020

-Government will provide a tax subsidy of up to R500 per month for the next 4 months for those private sector employees earning below R6500 under the Employment Tax incentive.This will help over 4 million workers. -SARS will also work towards accelerating the payment of employment tax incentive reimbursements from twice a year to monthly …

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Section 12R of the Income Tax Act (Special Economic Zones)

Leave a Comment / Business Management / By / March 19, 2020

Section 12R of the Income Tax Act 52 of 1962, as a consequence of an initiative by the Department of Trade and Industry, was introduced in 2014 to enhance trade through the Special Economic Zone Act 16 of 2014 and attract direct foreign investment. The benefits Companies qualifying under section 12R are not taxed at …

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NatioNAL bUDGET SPEECH 2020 : What it means for small business

Leave a Comment / Business Management / By / February 28, 2020

The national budget speech of South Africa was presented on 26 February 2020. In this article, we will be covering the most important points that are in this year’s budget speech. Firstly we will look at the revenue which amounts to 1 344 796 trillion, this is a 4% decrease from last year’s Budget Speech: …

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DID YO KNOW YOU CAN PAY R0.00 TAX USING SECTION 12J OF THE INCOME TAX ACT ?

1 Comment / Uncategorized / By / January 31, 2020

In order to encourage individuals and businesses to invest in Venture capital companies so that these venture capital companies can invest in SMMEs with high growth potential the Section 12J of the Income Tax Act was introduced in 2009.Access to capital is one of what we describe as TOP 3 business killers here at BONMAS …

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How to position your business to benefit from B-BBEE ?

1 Comment / B-BBEE / By / February 5, 2020

Firstly B-BBEE ( BROAD BASED BLACK ECONOMIC EMPOWERMENT) is a very broad topic and has various elements which encompass it. We will focus on the most important element of B-BBEE which is a tool that many businesses can use to benefit for B-BBEE and that element is known as Enterprise Supplier Development (ESD) which is  (A combination of Preferential Procurement, …

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