• Tax

    Never submitted tax – We can help

    I get a lot of queries from clients who have never submitted personal income tax returns. And then they are too scared to do it, because they do not know what to expect. From experience, I have seen that it is better to manage your tax than be scared of the unknown. If there has been admin penalties incurred, they can accumulate to the point where SARS takes legal action. To establish your tax status, one must look at how many returns are marked as outstanding by SARS, as well as whether there are admin penalties. The admin penalties are usually R250 per return for every month it is not…

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  • Accounting,  CIPC,  PAYE,  Tax,  UIF,  VAT

    Closing your business – Here’s what you need to know

    People often ask me how to go about closing a private company and what their responsibilities are. CONTACT US FOR MORE INFO… The first thing to consider when closing a company is the tax implications. All taxes must be submitted and paid up to date, right up to the date that the company ceased to trade. This is applicable to all tax types. Income tax – Financial statements have to be prepared up to the date the company stopped trading. An IT14 return should then be submitted to SARS. If the company stopped trading in the middle of the financial year, financial statements must still be compiled, for all the…

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  • PAYE,  Tax

    Tax relief – Coronavirus

    Government has announced some tax relief for companies to give some relief for a few months. The following was announced: The government will provide a tax subsidy of R500 for all private sector employees who earn less than R6 500 per month. This will continue for a period of 4 months starting end of March 2020. All companies with a turnover of less than R50m per year, will be allowed to delay 20% of their PAYE payments for the next four months. This is only applicable to companies who’s taxes are up to date. These companies will also be allowed to delay a portion of their provisional tax payments towards…

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  • Tax

    Tax return – R275 – Offer valid until 30 September 2019

    If you have not submitted your 2019 tax return, we can assist. Pay only R275 per tax return, offer valid until 30 September 2019. Contact us now to submit your tax return We add all clients to our Efiling profile, in order to submit their returns. Or, if you have your own Efiling profile, you can just give us shared access. Email the following details to for assistance: Full names and surname ID number Tax number Address Email address and cellphone number Banking details

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  • 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

    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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