• Accounting,  PAYE,  Tax,  VAT

    Payment options – Financial Statements

    We assist companies with the following: Company tax Annual Financial statements PAYE returns(Employee tax) VAT returns Companies still have to submit all their tax returns during the lockdown period in South Africa. This is also a requirement for all companies who want to apply for financial assistant from government. Due to the difficult financial climate currently facing South Africa, we offer various payment options for our services to all new clients. This will ensure that your tax stay up to date and lessen the burden on your budget. Click here to contact us, or send an email to .

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  • 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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  • compliant.co.za tax
    Accounting,  Other,  Tax,  UIF

    Small business assistance requirements

    Small to medium enterprises can apply to receive financial or other assistance during the outbreak of the coronavirus. Click here to be redirected to the government website where applications are to be submitted. The following is a list of requirements in order for the application to be successful. The business must have been registered with CIPC by at least 28 February 2020. Company must be 100% owned by South African citizens. Employees must be 70% or more South Africans Priority will be given to businesses owned by women, youth and people with disabilities. Company must be registered with SARS and UIF. SARS and UIF must be compliant. Proof must be…

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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…

  • 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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  • Accounting,  Tax

    Financial statements – deadline.

    The deadline for tax returns for companies with a financial year end of 28 February 2018 is 28 February 2019. SARS will be imposed for outstanding companies tax returns(IT14’s) for years previous to 2018 from 7 January 2019. We can assist with financial statements for small businesses from R3 000 once off. Click here for more info. The tax returns for companies should be submitted to SARS at the latest 28 February 2019 along with the financial statements. We can also assist with Nil tax returns at R165 each. Even if the company has not traded, a tax return should still be submitted to SARS.

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  • Tax

    SARS objections

    Download the SARS service charter here.  The current turnaround time for SARS objections on personal income tax is 60 business days, which is 3 months.  Please see page 9 of the SARS service charter.  Any objection can only be escalated to the Ombudsman after 60 business days for resolution.   SARS objections process There are several reasons why some of the deductions on your personal income tax return was not allowed by SARS.  The supporting documents were not submitted, or it was submitted in the incorrect format.    Taxpayers normally have 30 days to submit an objection after an assessment has been received from SARS.  It is still possible to submit…

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