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Introduction

Tax is not something to ignore.  Tax will never just go away.  Although taxes are a complex concept, we always strive to keep ourselves updated and informed.

Our client’s tax matters are of utmost importance to us.  Timeous and accurate submissions to SARS equals no problems with SARS.

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The various tax elements all coheres with one another.  One should never forget this.  It is utterly important to respect the tax regime with all its facets.  This will let your business prosper and never get tied up in all the strings attached.

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Sub-Services

> Capital Gain Tax

> Dividends Tax

> EMP501 reconciliations

> Employment Tax Incentive

> Estate Taxes

> Exempt Micro Enterprises

> Income Tax

> Pay As You Earn

> Payroll Administration

> Provisional Tax

> Skills Development Levy

> Small business corporation Tax

> Tax Clearance Certificates

> Unemployment Insurance Fund

> Value Added Tax Processing

> Workmen’s Compensation Fund / Compensation for Occupational Injuries and Diseases Act

Frequently Asked Questions

1

When do I have to register for VAT?

A business has to do a compulsory VAT registration once the Turnover / Sales exceeds R1 Million per annum. A business can also register voluntarily when the turnover reaches R50 000 per annum.

2

When do I have to register for PAYE, UIF & SDL?

PAYE registration takes place when the employer has employees who fall in the tax bracket of paying tax as well as for the director/owner himself.

UIF registration takes place when a person is employed for at least 24 hours per month and is a permanent employee, who does not earn commission only, or is a trainee or on a contract basis.

SDL registration takes place when the total salaries for the employees and directors/owners of the business exceed R500 000 per annum. Then a levy of 1% of total salaries is paid over to SARS by the employer.

3

What is ETI (Employment Tax Incentive)?

Incentive SARS has given to employers who employ employees who were signed on or after 1 October 2013 between the ages of 18 and 29 years old, who earn less than R6000 per month but more than R2000 per month. The less the employer pays the more tax incentive the employer gets and works on a sliding scale.

4

What is WCA & COIDA?

WCA stands for Workmen’s Compensation Association, under the department of labor.  Every employer is obliged by law to be registered with the WCA.

5

What are EMP501 Reconciliations?

This is a bi-annual reconciliation which is a summary of the total PAYE, UIF, SDL paid over for the 6 months (March – August) and 12 months (March – February). Then the IRP5 certificates are issued to the taxpayers to submit their personal income tax by end of November each year.

6

What do I do when my business is not issued with a Tax Clearance Certificate?

Then you should ask your accountant why your business is not tax compliant, as tax issues never go away but rather get worse over time.

7

When do I have to register for Provisional Tax?

If a taxpayer receives income which is not remuneration and receives investment income or passive income in many forms. Also, any director of a company, member of a close corporation or trustee of a trust should be registered.

8

When do I declare Dividends?

Dividends will only be declared once the final financial statements are completed at year end. Profits have been met and tax has been paid on the taxable profit of the company. Once additional funds want to be declared as a dividend then dividends tax must first be paid over to SARS.

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