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As the year draws to a close, you are most likely considering how to make changes in the new year that will help cut costs in your company in order to maximise profits. We wanted to give a few guidelines on how to effectively implement this in your company: Communicate with your staff: Cost-cutting is not fun for anyone! Explain why it is necessary, what can be done and how it can benefit everyone! Be fair: If you plan to stop certain perks for some of your employees based on

Just a reminder about some important dates: 4 December 2019 -Income Tax Returns for Non Provisional Tax payers for year 2019 and trusts. 31 January 2020 -Income Tax Returns for Provisional Tax payers and trusts for year 2019. 28 February 2020 - Income Tax Returns for 2019 tax year for companies and CC's. -Second Provisional Tax Returns for 2020. #accounting #SARS #incometax #taxreturns #efiling #accountants

When is the deadline? Employer interim reconciliation deadline for the first 2020 EMP501 recon is on the 31st of October 2019. What is the reconciliation? Employers are responsible to submit an accurate recon, employee certificates. This is reconciliation of PAYE paid over by employers to SARS on behalf of employees based on their remuneration. Why do you need to do one? The need for the interim reconciliation – you are better prepared for the annual recon and ensuring that t

After the 25th Oct 2019, SARS will no longer be issuing printed Tax Clearance Certificates (TCC), but rather it will be an online Tax Clearance Status (TCS) electronic system. A more secure and convenient TCS PIN on e-Filing will allow 3rd party organisations or departments to view your overall tax compliance status as it currently stands when they view it and not only when the TCS PIN was sent. Be assured that no other information will be accessible to any third party throug

Tax season for non-provisional individuals opens 1 July 2019 and closes 4 December 2019. Taxpayers whose total annual income before tax is not more than R 500 000 do not need to submit a tax return as long as they fit the following criteria: • Income from only one employer for the tax year • No other form of income (e.g. car allowance, business income, and rental income, taxable interest or income from another job) • No additional allowable tax related deductions to claim (e.

What can you do? If you don’t agree with the outcome of the audit/verification, you can dispute the outcome. You can object! You must submit your objection on the correct form. If you don’t agree with the outcome of an objection, you can appeal As a taxpayer you have the right to lodge an appeal where your objection hasn’t been allowed in full or in part. The appeal must be lodged within 30 business days from the date the objection wasn’t allowed or wasn’t allowed in full. Pl

In this article, we would just like to make you aware of the benefit of having your income tax portfolio registered on your tax practitioner’s SARS efiling profile. Convenience It may be convenient for you to be able to check your own tax situation. We have found many clients who have their own efiling profile with SARS but yet they may have changed their email address or telephone numbers and SARS still send notifications to the old address. This has resulted in corresponden