Overview

Have you noticed that your owner-managed business clients are increasingly experiencing a turbulent business and tax environment? Whatever your specific experience, it is widely known that owner-managed businesses are feeling the pressure. 

On the other side of the coin, government is under pressure to deliver on its constitutional mandate which requires a corresponding increase in revenue collections. In increasing revenues, the State considers different options including increasing tax rates (as we have witnessed recently), expanding the tax base through improved tax collection processes and introducing anti-avoidance rules. In implementing any of these options, SARS, in its administrative capacity, reviews and robustly changes its processes and internal systems accordingly. 

The changes in tax laws and the SARS administration processes affect both large and small practitioners. As a result, entrepreneurs are actively seeking better business structures (such as ring-fencing different businesses or combining businesses) which invariably introduce tax risks and complexities. In addition, owner-managed private companies have another layer of complexity, i.e., differentiating the owner as a taxpayer versus the company as a separate taxpayer. 

This seminar will provide tax practitioners with insight into the latest tax issues affecting owner-managed businesses. It will focus on informing tax practitioners, who act as business advisors for entrepreneurial owner-managed businesses.