SARS EFILING UPDATE
The 2019 tax season officially started on Monday, 1 July for taxpayers using eFiling and the SARS MobiApp. Tax season runs until 4 December 2019. In order to enable a smoother submission process, SARS has implemented a number of enhancements and innovations to the eFiling system. However, as a result of these changes, there are […]
SARS LIFTS TAX RETURN THRESHOLD FROM R350 000 TO R500 000
SARS LIFTS TAX RETURN THRESHOLD FROM R350 000 TO R500 000 SARS recently announced that the threshold for submitting tax returns for salary earners be increased to R500 000. We however are of opinion that it is still advisable to submit your tax return annually to avoid administrative penalties or a future request for submission of […]
RETURN OF EARNINGS (ROE)
RETURN OF EARNINGS (ROE) All companies with employees must be registered at the Compensation Commissioner. The employer then needs to submit an annual Return of Earnings on the Department of Labour website. We will assist you in doing the registration as well as the submission of the returns. After all the returns have been submitted, […]
FINAL ANNUAL 2019 EMPLOYER RECONCILIATION
FINAL ANNUAL 2019 EMPLOYER RECONCILIATION It’s not a surprise that around this time you find Accountants, Tax practitioners and Payroll personnel running around trying to ensure that the data required for the Annual employer declaration is ready for submission to SARS. The Employer Annual Reconciliation started on 17 April 2019 and employers have until 31 […]
SA EXPATRIATES: GET READY FOR CHANGES IN 2020
SA EXPATRIATES: GET READY FOR CHANGES IN 2020 Working abroad has proved a lucrative prospect for many South Africans, especially in countries where they don’t have to pay employment income tax. If they also qualify for exemption in SA, they effectively pay no tax on their foreign earnings. But all this will change on 1 […]
INVESTMENT AND TAXATION SAVING OPPORTUNITY
We are excited to inform you that we have obtained a 12J Investment Company by the name PERSEUS VC1 LTD (FSP License No 48973). We encourage you to read through the information below, and to consider it to invest in this highly tax friendly and profitable product. An investment into our 12J company has numerous […]
PROVISIONAL TAX – 28 FEBRUARY 2019
Provisional tax is not a separate tax from income tax. It is a method of paying the income tax liability in advance, to ensure that the taxpayer does not remain with a large tax debt on assessment. Provisional tax allows the tax liability to be spread over the relevant year of assessment. It requires the […]