- Does your company submit VAT, provisional tax and income tax returns? Stop! You don't have to anymore
- Dear reader,
If you're registered for VAT, provisional tax and are a company, you have to submit these returns to SARS. And it's not just once a year. It's one company tax return, two provisional tax returns and six VAT returns.
That's nine times a year. That's almost one a month you're spending time preparing for tax return submissions. How much time is that wasting you?
But if you qu... ››› more
- [04 July 2016]
- New changes to the ITR12T form make fulfilling this tax obligation more complicated! Here are some tips to help
- SARS recently released a new ITR12T form. It's specifically for trusts and SARS created the form to make the process of submitting a tax return for trusts much easier.
Although it may have made it easier to submit, the return has become very complicated.
SARS now asks you for more information so it can get the most relevant information about your trust, the beneficiaries, and what was recei... ››› more
- [11 March 2015]
- Protect your business against tax penalties! Here are five ways to ensure you don't miss the payment deadline of 31 March 2015
- Taxpayers submitting and tax paying on 31 March 2015, (SARS financial year-end)should do so by 12:00 midday to avoid penalties and interest.
To protect your company and pay the taxes on time, you can use one of several payment options. Here are just a few of them so you can choose the one that's easiest for you:
1. Pay through a bank (payments to SARS can be made at the following banks: ABSA... ››› more
- [06 March 2015]
- Income makes the world go round. What does your income do?
- Sure, you'll have to pay a certain amount to the state. Your contribution is not small. But your work isn't also not small and definitely not unsignificant. So when it comes about working for someone else or managing your own money, where do you stand?
Do you hope to get rich, really rich or just above the average earnings?
According to the IRS Statistics of Income Division, a place where fun... ››› more
- [27 February 2015]
- Use these four tricks to fill in your company's tax return correctly
- Completing your company's taxes return can be a tedious process. You have to spend hours going through your documents to find proof of the deductions you want to claim.
When you're running a business, you don't have time to waste on this mindless paperwork.
But before you pick up the phone to hire a tax consultant, look at these four tricks. They'll help you fill in your tax return quickly a... ››› more
- [09 October 2014]
- Trouble with your company tax return? This simple tip will help you get it done in minutes
- It takes a lot of time to compile your taxes and complete your tax return. For some businesses, this process takes weeks because they have to go through every document and enter every amount they can to keep track of what they can claim and what they can't.
This process can result in serious errors on your tax return simply because of the vast amount of paper work that goes into it.
But erro... ››› more
- [08 October 2014]
- Three important points you need to know to submit your 2014 tax return without any hassles
- The 2014 tax-filing season for individual taxpayers kicked off on Tuesday (1 July) and it got off to a flying start.
According to SAnews.gov.za, SARS says it received more than 50 000 Income Tax Returns (ITR12) in less than 12 hours as the country's 2014 tax season got under way on Tuesday.
It's safe to say that number has more than doubled since then.
If you haven't filed your 2014 tax ... ››› more
- [04 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]
- 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.
*********** Top rate... ››› more
- [01 July 2014]
- Warning! Doing any of the following when filing your tax return could land you two years in jail
- Today is the start of the 2014 tax-filing season for individual taxpayers.
You have until 21 November 2014 to complete and submit your Income Tax Return (ITR12) to SARS. Failure to meet the November deadline will result in harsh penalties.
One of the important things you have to be aware of this tax season is that you could face two years in jail if you do any of these acts when filing your ... ››› more
- [01 July 2014]