Many times there’s been talk of provisional tax but what is it and who does it apply to? Dealing with SARS is something very few people find appealing and even more so when it comes to penalties and interest being levied on taxes which you are struggling to understand. As the deadline for the second […]
Walking away from a till, getting an invoice from a supplier, even your bank statement, these are just some of the places where that little ‘14% VAT’ shows up in our day to day lives. Whether you’re an individual, small business or multi-national conglomerate, there is no escaping the clutches of the V(alue) A(dded) T(ax) Act passed […]
Income, taxable income, deductions, allowances, tax certificates and logbooks. These words become quite common every year when taxpayers are required by SARS to submit their annual income tax return.
Whether the taxpayer is an individual (ITR12), trust (IT12TR) or a company (ITR14) each has its own submission period and has a deadline before SARS raises penalties […]
Every six months all employers are required by legislation to do the EMP501 reconciliation submission to SARS. Not doing so can lead to penalties being raised by SARS which no taxpayer wants or needs. But what is this reconciliation all about?
First you will have to understand why employers deduct employee tax on a monthly basis (namely […]
In the current international climate, where the world is available at your fingertips and trading has moved from Main Street to everywhere, more and more employees are working either on the road or from home. Many such employees work mainly on a commission basis as an intense incentive for increased productivity.
But what many of these employees […]