Register the correct details at SARS
SARS is now set to update taxpayers (business and individuals) during the next few months of 2020. This is nothing new. Your details should be correct with SARS at all ...
News
Become compliant with future cash flow
During COVID, it has given each business owner some time to self reflect and look at what has happened with their business. For most business owners, there was no way ...
SDL Holiday / Exemption
The SDL payment holiday will be automatically provided. The zero amount SDL Liability will be defaulted on the EMP201 return for the four month period from May to August 2020. ...
From the 2020 year of assessment, SARS is performing tax calculations on the IRP5/IT3(a) certificates.
Where it is found that the incorrect amount of tax was deducted from the employee, a letter will be issued, accompanied by a file containing a list of the certificates ...
Annual Employer Reconciliation is looming. What happens if I miss it?
In total, the penalty may not exceed 10% of the total amount of Employees' Tax deducted or withheld (or which should have been deducted or withheld) by the employer during ...
COVID-TERS UIF for domestic workers
Can I claim UIF/TERS benefits for my domestic worker? You can claim for any employee that works for you, provided that for more than 24 hours a week, they are ...
Banks launch online application portals for Covid-19 SME loans
The major banks this week launched their online portals providing loans to small and medium-sized businesses that may not be able to meet their financial obligations during the lockdown and ...
Why use a Tax Practitioner?
Please remember that all Tax Practitioners are now required to be registered with a recognised controlling body (RCB) as well as with SARS. Find out if your Tax Practitioner is ...
Just because it has VAT Input....
We just took over a client that puts through all his contributions for Retirement Annuities, Medical Aid etc through the companies books. He takes them as a salary and pays ...
Capital Gains Tax And Home Office
This article was first published in the fourth-quarter 2014 edition of Personal Finance magazine. Few people are aware of the interesting interplay between income tax and capital gains tax (CGT) ...