Taxes to support entrepreneurship

Preview of Budget 2011 and possible changes to taxation to support SMMEs and enterprise development.

Proposals on a major reform for small business taxes have been around for years. In this preview, we explore some of the options that potentially features in Budget 2011.

Photo: Rodger Bosch- Workers processing peppers on the production line of a food processing company near Port Elizabeth. Read more: http://www.mediaclubsouthafrica.com

Proposal to utilise taxes to support small business and entrepreneurship are a strong possibility to feature in Budget 2011.
Minister Pravin Gordhan, in his 2010 Budget Speech indicated that small business taxation would be an area of focus in government. Work in this area has been undertaken, and government might be ready to offer significant tax incentives to small business and start-ups.The logic is important to understand – more employers = more jobs. ┬áThe result is that economic┬áparticipation and inclusion is supported.

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