Optimum Ratio

🔎Good Question #18
How is a “golden handshake” taxed by SARS and are there any special tax benefits or exemptions that may apply?

In South Africa, a golden handshake (a lump sum payment upon termination, resignation, or mutual separation) is fully taxable by SARS.
However, how it gets taxed depends entirely on the reason for your departure.

🔎Good Question #17
How does a taxpayer's age affect the tax liability and rebate with SARS?

As you blow out your birthday candles over the years, the South African Revenue Service (SARS) gives you a bit of a financial break.💰

🔎Good Question #16
When do i need to start a payroll for my company?

Knowing exactly when to launch your official payroll is crucial for avoiding costly compliance mistakes.📌

Don't miss out on this article containing all the details regarding a Non-Profit Entity! 💰🧠

We dive into the differences between an NPC, NPO & PBO and straighten out common misconceptions regarding the tax implications for these entities.

As always - Feel free to reach out should you have any enquiries!

https://www.optimumratio.co.za/post/the-difference-between-a-non-profit-company-non-profit-organisation-and-a-public-benefit-organsiati

🔎Good Question #15

Can i get tax benefits from my medical expenses if i do not contribute to a medical aid?

Not all taxpayers know that qualifying medical expenses may provide tax relief, even if they are not members of a medical aid.💊

Keeping accurate records and supporting documents is essential to ensure you can claim any tax benefits you may be entitled to during tax season.📌

At Optimum Ratio, we work with our clients to provide reliable accounting and tax services.💰

We value the trust placed in us and remain committed to supporting individuals and businesses with practical financial solutions.

This Mandela Day, we were reminded that giving isn't measured by the size of the donation, but by the heart behind it.💕
Any contribution has the power to change a life.🐾👫

World Youth Skills Day highlights the importance of equipping young people with practical skills that support learning, work, and life.🌍

It's about building capability, confidence, and adaptability through continuous development and real application of knowledge in everyday situations and future opportunities.👩‍💼

🔎Good Question #14

I am starting a side hustle; Do I need to register a company?

Starting a side hustle often raises the question of whether it is necessary to register a company with CIPC.

In many cases, individuals can operate as sole proprietors and trade in their personal capacity, depending on their needs and the nature of the business.📊