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 Page Accounting has especially formulated a dynamic all-in-one package for the new business owner’s needs. This package allows you to keep in touch with your business’s financials wherever you are as well as connecting you to your market. Let your business accounting be the least of your concerns…
Included in this package is
- 1 User Online Accounting Package,
- 5 Email Addresses and a generic start up Web Page for your business.
Contact us for more information and costs - we can help you!
Setting up a new business is exciting and hard work. Page Accounting can ease some of the load, assisting a new business owner with clarifying the type of entity that the business will be defined as, as well as taking care of the necessary registrations essential to a new business.
Nature of Entity:
One individual owner; no independent legal personality (owner personally liable). Owner has direct control and authority over business activities.
Contractual relationship between two or more persons; No independent legal personality (owners personally liable). Practice of lawful business to which every partner contributes with the objective of making a profit distributed among them.
Close Corporation:
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R 513.00
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Membership varies from one to ten persons; independent legal personality (members not personally liable for debts or claims against the CC). No divided responsibility between control and ownership – member interest is expressed as a % and total membership interest must equal 100%.
Number of share holders vary from 1 – 50 persons. Must have at least 1 director and the name must end with PTY/LTD. Legal personality (personal assets of the shareholder are not involved where claims are made against a company).
Necessary Registrations:
Income Tax:
| Sole Proprietors and Partnerships: |
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Owners taxed in individual capacity; therefore individuals need to be registered.
| Companies and Close Corporations |
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These are registered for tax automatically on registration of the business.
If a business turnover exceeds R300 000 the responsible party is legally obligated to register for VAT.
If the business owner or employee draws a salary, the responsible party is obliged to register for PAYE.
If the business owner or employee draws a salary, the responsible party is obliged to register for UIF.
| Workmen’s Compensation |
R 550.00 |
If the business employs people, the responsible party is obliged to register for Workmen’s Compensation.
Industry Specific Registrations:
The responsible party is to make enquiries concerning the registrations required specific to the industry in which the business operates.
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