- Use these four documents to get your company's income tax registration right the first time
- Section 22 of the Tax Administration Act states that any person who's liable for income tax must register as a taxpayer within 21 days of becoming one.
This also applies to companies. If you miss this deadline, you could face a non-compliance penalty.
Now, most new companies automatically get a tax number when they register with the Companies and Intellectual Property Commission (CIPC). So ... ››› more
- [21 November 2014]
- Made a mistake on your ITR12T? Here's how to request a correction (RFC)
- Completing an Income Tax Return for Trusts (ITR12T) can be a mission especially when you consider the fact that the new ITR12T requires more information than the previous one did.
This means mistakes can easily creep up.
This brings us to the question: Do you have any recourse when you realise you made a mistake on your ITR12T?
Yes, you do.
According to SARS, once you've submitted your... ››› more
- [14 November 2014]
- As the November 21 ITR12 deadline approaches, beware of these scams
- The 21 November deadline to submit your individual Income Tax Return (ITR12) is fast approaching.
Sadly, as the 2014 tax season draws to a close, cyber criminals are on the prowl.
As you rush to meet the deadline, we urge you to beware of the following scams so no one takes you for a ride.
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- [11 November 2014]
- Here are five helpful hints from SARS for completing your ITR12T form
- As a trustee, you have a legal duty to complete and send an Income Tax Return for your Trust to SARS every year. Failure to do so is an offence and could result in harsh penalties.
The good news is, SARS is going to make your Income Tax Return for Trust (ITR12T) completion seamless.
It understands that the new ITR12T it introduced last month may be a bit tricky and it wants to help you submi... ››› more
- [05 November 2014]
- Six new pieces of information you must submit with your new ITR12T
- There's a new Income Tax Return for Trusts (ITR12T) and it's available on eFiling.
What you may not know is the new ITR12T requires more information than the old IT12TR. SARS says the reason for this is to help you submit an accurate return and be compliant with SARS' requirements.
So what kind of information does SARS require now?
Keep reading to find out so you can fill in the form accu... ››› more
- [03 November 2014]
- Where can I get the new ITR12T?
- Earlier this month, SARS introduced a new Income Tax Return for Trusts (ITR12T).
It redesigned and automated the old form (IT12TR) in an effort to help you submit an accurate return and be compliant.
Since its introduction, we've been inundated with questions about the form. And one thing most people want to know is where they can get the new ITR12T.
Read on to find out the answer.
... ››› more
- [31 October 2014]
- Want to pay less company tax? Here are 25 ways to do just that
- Did you know there are 25 types of income SARS exempts from normal income tax? Using them could help your company pay significantly less tax.
Read on for the full list of all 25 types of income this applies to so you can claim for your exemption today...
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- [28 October 2014]
- There are three forms of income SARS exempts from income tax. Do you qualify for any of them?
- Your company has to pay SARS income tax. Otherwise, you're guilty of tax evasion and that means serious legal troubles.
But did you know there are certain types of income that this rule doesn't apply to?
There are, in fact, three forms of income that are exempt for income tax.
Read on to find out what they are to see if you qualify for an exemption...
Do you qualify for any of t... ››› more
- [28 October 2014]
- Too busy to submit your 2014 tax return during the week? Find out which of SARS' branches are open on Saturdays so you can meet your deadline
- As you know, the 2014 tax-filing season for individual taxpayers is underway.
If you haven't been able to complete and submit your Income Tax Return (ITR12) to SARS because of your busy schedule during the week, there's some good news.
You can submit your tax return on a weekend if you're not an eFiler.
Continue reading to find out which of SARS' branches are open on Saturdays so you can ... ››› more
- [17 July 2014]
- Using a tax practitioner this tax season? Here's how to check if he's registered
- You probably know that the 2014 tax-filing season for individual taxpayers is underway. And that you have now until 21 November 2014 to complete and submit your Income Tax Return (ITR12) to SARS.
What you may not know is that if you plan to use a tax practitioner to help you file your return, you must ensure he's registered with a Recognised Controlling Body (RCB) as well as with SARS.
How ... ››› more
- [02 July 2014]
- The 2014 tax season is underway! Here are SARS' four handy tax tips to help you submit your ITR12 on time
- The 2014 tax season for individuals kicked off yesterday and comes to an end on 21 November 2014.
This means, you have just more than three months to complete and submit your Income Tax Return (ITR12) to SARS.
Here are SARS' four handy tax tips to help you submit your ITR12 by the deadline.
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- [02 July 2014]
- Not sure how to file your returns this tax season? SARS' Help-You-eFile tool will help you out
- As you know, today (1 July 2014) is the start of the 2014 tax-filing season for individual taxpayers.
If you're liable to pay income tax, you have to complete and submit your Income Tax Return (ITR12) to SARS before the 21 November deadline.
If you're not sure of how to do this, SARS' Help-You-eFile tool will help you out. Here's what you need to know about the tool.
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- [01 July 2014]