Welcome to our Website
SME Tax and Accounting Solutions CC trading as Scheffer Accountants is a one stop bookkeeping, tax and accounting firm.
We offer our services to the small medium size business market for the entrepreneur who would rather spend their precious time and resources on marketing and customer service than on administrative duties.
We strive to build a long-term partnership with our clients.
We see ourselves as the external financial managers of your company and you can involve us as part of your management team as much as you want.
We specialize in Small Medium Enterprises
SME Tax and Accounting Solutions believe that the SME sector is vital in providing jobs to our people and growth to our economy.
The South African Government value these small business’ importance to our economy greatly and implemented special tax incentives to businesses which qualify as Small Business Corporations.
Qualifying criteria for a Small Business Corporation:
- Gross income may not exceed R20 million per year of assessment
- The holder of shares must be natural persons
- The legal entity of the business must be in the form of a private company or close corporation
- Not more than 20% of receivables may consist of investment and personal service income
Tax advantages of Small Business Corporations:
- Accelerated depreciation for manufacturing plant and machinery - up to 100% write-off in the year the assets were first brought into use
- Other assets may qualify for a 3 year write-off (50%, 30%, 20%)
- Graduated marginal tax rate structure (0%, 7%, 21%, 28%) compared to the flat corporate rate of 28%