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موقع سبح الاسلامي ا54People List - Free People Search Toolمل اكبر تجمع للمحامين في مصر , ابحث و تواصل مع المحامين في مصرموقع سبح الاسلامي و الاخباري
  • Tax

    Medical deduction – Individual tax

    The medical deduction allowed for the 2019 year of assessment is R310 per month for the first two members, and R209 per month for every additional member. For taxpayers who belong to a medical aid, and pay their own contributions monthly, this usually means that the medical deduction allowed will lead to a refund on their tax. This is not the case for taxpayers who receive their medical aid as a benefit on their income package. Thus, their medical aid is paid by their employer. The reason for this is that the medical deductions is taken into account on a monthly basis, when tax(PAYE) on salary is calculated. This means…

  • Tax

    2019 Tax return – Who needs to submit

    Still unsure of whether you have to submit a 2019 tax return? If you receive less than R500 000 per year and only receive a salary from one employer, you do not have to submit a tax return. SARS will also then send you a SMS notifying you that you do not need to submit. Also, if SARS has determined that you need not submit a return, you will find a pre populated form when you go into Efiling. You will then have the option to either accept or amend this return. It is very important to determine whether you need to submit an income tax return. If you have…

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  • Tax

    Tax season is open!!

    Tax season 2019 is has started, and ends on 4 December 2019. Let us assist you for only R275 per tax return. We will also assess your tax for free to ensure that everything is up to date. And to see whether there are any money outstanding. Remember to make sure to include all income including interest received, dividends, capital gains, lump sums from pension funds etc to avoid additional assessments by SARS. All taxpayers that receive more than R500 000 income per year, more than one IRP5 or is a sole proprietor, need to submit a tax return. Contact us before tax season ends. Read more… To submit return…

  • Tax

    Free tax assessment

    If you haven’t submitted taxes in a while, or are unsure whether audits has been adequately dealt with, we can assist. We can do a tax assessment to determine whether there is any forms or moneys outstanding. Contact Us now for your free assessment!! We can also do this for companies for income tax, VAT and PAYE. And we only charge for work done and forms submitted. It is better to know your tax is compliant than to get a shock later. Especially now when SARS are looking for ways to make money and withhold refunds. SARS can reassess an assessment for 5 years from submission. And they are currently…

  • PAYE,  Tax

    Tax directive – You can still apply

    All commission earners can still apply for a tax directive. This is for a monthly fix percentage deduction of employee tax. Which means that your monthly income will be more. We charge R250 for a tax directive Contact us at info@compliant.co.za

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  • Tax

    Foreign income

    A lot of people are currently working in foreign countries, while still being South African tax residents. There are exemptions in place for income received from a foreign employer. The exemption applies to foreign income received as an employee. It is not applicable to independent contractors or people who are self employed. The current rule is that income is exempt when a taxpayer works outside South Africa for 183 days during the a 12 year period, of which 60 days must be continuous. The 12 month period does not have to be for a financial year, as long as it is 12 months in succession. SARS is currently working on…

  • Accounting,  PAYE,  Tax,  VAT

    Dormant Company

    Definition of Dormant company A company is deemed to be dormant if there hasn’t been any transactions in the name of the company for a certain period of time. This is also the case when a company seizes to trade, but does not get deregistered. Tax obligation Any company needs to submit tax returns, whether the company has been trading or not. This applies to all kind of taxes, income tax, employee tax and VAT. Submitting returns If there has not been any transactions during the year of assessment, NIL returns can be submitted for all tax types. No penalties will be imposed for late submissions. SARS will however impose…

  • PAYE,  Tax,  VAT

    SARS clamping down on non payers

    SARS has issued a statement on their website that all money due to them are to be paid before 29 March 2019. Read statement here. After the deadline, they are going to start taking action against tax payers with money due. This includes raising interest on outstanding amounts. SARS also has the right according to law to take money from a taxpayers bank account for money owed to them. It is important to make arrangements with SARS to pay outstanding taxes in installments. If you owe tax due to incorrect assessments or input VAT not allowed, you have to submit disputes in order to correct this. Contact Us now for…

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  • Tax

    Income tax – All the hows and why’s

    Who needs to be registered Every single citizen in South Arfrica over the age of 18 should be registered for income tax. And should have a tax reference number, despite the type of income you receive. If you were unemployed or did not receive any income for a specific year, this will be indicated on your tax return. How is tax calculated – Salary Earners For salary earners, income tax is calculated on a monthly basis. The tax is named PAYE(Pay as you Earn) and is deducted from your salary monthly. Your employer has to supply you monthly with a payslip indicating your salary and the amount of PAYE deducted.…

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  • Tax

    Tax deductions for commission earners

    Taxpayers who receive commission as part of their income, are allowed to deduct business expenses on their tax returns. However, you are only allowed to claim these expenses if your commission income exceeds 50% of your total annual income. Home office expenses Home office expenses may be claimed for a home office/study. But the area used must be specifically used to trade, and not for anything else. The expenses that may be claimed includes the rent, cost of the bond, interest on the bond. The cost is then apportioned to the percentage of the office in relation to the total area of the home. Thus, if your home is 120sq/m…

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موقع سبح الاسلامي ا2People List - Free People Search Toolمل اكبر تجمع للمحامين في مصر , ابحث و تواصل مع المحامين في مصرموقع سبح الاسلامي و الاخباري