- Just for you: The latest (2016/2017) SARS tax table for travel allowances.
- Travel allowances are sums of money you regularly give to employees in order for them to cover their travel expenses while still using their own vehicles.
And it's your responsibility to ensure that these travel allowances are structured correctly, otherwise harsh SARS penalties await you.
So in order to help you tax your travel allowances correctly, and in so doing avoid a SARS audit from c... ››› more
- [11 April 2016]
- The 4 tax benefits to trading as a Partnership
- A partnership is where 2 people combine their finances, along with their assets and skills, in order to carry on a business.
The advantages of such a business setup are obvious, in that:
· Just like a Sole Proprietor, there are no formalities involved in creating a partnership, even though it's still advisable to create a partnership agreement;
· There's no need to submi... ››› more
- [10 April 2016]
- Individuals and partnerships must pass the following test to qualify for Turnover Tax!
- All small businesses know it! Turnover Tax is a blessing, especially when compared to having to juggle VAT, Income Tax, Provisional Tax, Dividends Tax as well Capital Gains Tax.
This alternative tax system, namely Turnover Tax, can make it so much easier to meet tax obligations.
But how can you make sure you, as an individual or a partnership, qualify for Turnover Tax?
By answering 'YES'... ››› more
- [07 April 2016]
- Your simple step-by-step guide on how to complete the TT01 form using SARS tax
- Turnover Tax can greatly reduce small businesses' stress when it comes to their tax obligations.
It replaces Income Tax, Provisional Tax, Capital Gains Tax as well as Dividends Tax.
But while the benefits of Turnover Tax are clear, provided your business is eligible for it of course, you may very well be in search of some practical steps on how to handle Turnover Tax correctly.
Well look ... ››› more
- [07 April 2016]
- How to calculate turnover tax using the SARS tax tables
- According to SARS, turnover tax is a simpler tax system, making it easier for micro businesses to meet their tax duties. It replaces Income Tax, VAT, Provisional Tax, Capital Gains Tax as well as Dividends Tax for qualifying micro businesses.
Here, we'll show you how to calculate your turnover tax, as indicated by SARS, using the SARS tax tables.
But first, let's take a look at who exactly ... ››› more
- [06 April 2016]
- 8 Simple steps to calculate provisional tax using the latest SARS tax tables
- Provisional tax is where taxpayers estimate and pay their taxes in two payments. In other words, it will be one payment every six months, instead of having to pay one big amount at the end of the tax year.
Here are 8 simple steps you can use to calculate your provisional tax, using the SARS tax tables...
You'll be paying a tax penalty of up to R4 000 to SARS on 3... ››› more
- [05 April 2016]
- Use these eight easy steps to calculate provisional tax
- Does the thought of having to calculate provisional taxes gives you headaches? Are you afraid of making mistakes that SARS will sanction later?
There are solutions to any problems and closely following the right process for calculating provisional taxes is one of them. Below, we show you what to do.
Use these eight steps to work out your provisional tax
Calculate your estima... ››› more
- [11 June 2015]