Every business wants to lower its tax bill, but many small business owners miss out on legitimate deductions simply because they don’t know what they can claim. While you get your business ready for the financial year-end, now is the time to review your expenses and maximize deductions before the deadline. This guide will walk you through common business expenses that qualify for deductions and how to ensure compliance with tax regulations.
1. Office & Business Expenses
- Rent for business premises
- Utilities (water, electricity, internet, phone bills)
- Office supplies (paper, ink, stationery, postage)
- Software subscriptions (accounting, project management, CRM tools)
2. Employee & Payroll-Related Deductions
- Salaries and wages paid to employees
- Bonuses and commissions
- Employer contributions to pension/provident funds
- UIF, PAYE, and SDL contributions
3. Marketing & Advertising Costs
- Website hosting and domain registration
- Digital marketing (social media ads, Google Ads)
- Business cards, flyers, and promotional materials
- Sponsorships and influencer collaborations
4. Travel & Vehicle Expenses
- Business-related fuel, toll fees, and parking costs
- Maintenance and repairs on company vehicles
- Travel expenses for business trips (flights, accommodation, per diems)
- Depreciation on business vehicles
5. Professional Services & Training
- Accountant, bookkeeper, and tax consultant fees
- Legal fees related to business operations
- Business coaching and mentorship programs
- Employee training and upskilling courses
6. Home Office Deductions (For Qualifying Businesses)
- A portion of rent or bond repayments (based on office space used)
- Electricity and water usage for business purposes
- Office furniture and equipment
7. Bad Debts & Insurance Premiums
- Write off unrecoverable customer debts
- Business insurance (liability, vehicle, asset insurance)
- Professional indemnity insurance
8. Asset Purchases & Depreciation
- Capital equipment (computers, printers, office furniture)
- Depreciation deductions for assets used in the business
- Business vehicle purchases
9. Tax & Compliance Fees
- CIPC annual returns and compliance costs
- Business license fees
- Professional association memberships
How to Ensure Compliance
- Keep all invoices and receipts for at least five years
- Ensure expenses are directly related to business operations
- Use accounting software to track and categorize expenses
- Work with a tax professional to maximize deductions legally
Claiming eligible business expenses is a powerful way to reduce your tax burden and improve cash flow. As the year-end approaches, reviewing your expenses can help you save money and stay compliant. Need expert tax guidance? Our award-winning team is here to help!
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