Written by Nicci
Posted 29 January 2018
Written by Nicci
Posted 25 January 2018
1. Local interest - source code 4201
2. Local dividends - you don't need to enter this on your tax return. This income is exempt....
Written by Nicci
Posted 25 January 2018
Written by Nicci
Posted 25 January 2018
1. Local interest - source code 4201
2. Foreign interest - source code 4218
3. Foreign tax credit on foreign interest - source code 4113
4. Local dividends - you don't need to enter this on your tax return. This income is exempt from tax.
5. Real Estate Investment Income (REIT) - source code 4238
6. Foreign dividends - source code 4216
7. Foreign tax credit on foreign dividends - source code 4112...
Written by Nicci
Posted 22 January 2018
Written by Nicci
Posted 22 January 2018
If you hold investments with a bank or financial institution, there is important information on your IT3(b) tax certificate which needs to be included in your tax return.
This will ensure your taxable income is calculated accurately with the correct interest, foreign dividends and foreign tax credits included.
Do you hold investments at any of the below institutions?
- Alexander Forbes...
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Nicci
Posted 27 November 2017
1. Name of Medical Scheme
2. Medical Scheme Membership number
3. Number of members/dependents per month
4. Total contributions
5. Claims you paid personally that were not covered by the Medical Aid
Written by Vee
Posted 13 November 2017
Have you ever started one of those ‘oh, this’ll be easy’ Do-It-Yourself jobs, only to find yourself utterly frustrated half-way through wondering - what was I thinking? Pieces of wood cut just a few millimetres short of what they should’ve been. Holes drilled in the wrong places. Screwdrivers in every size except the one you need, missing bolts or the wrong colour paint! These DIY disasters can land up costing you much more time and money to salvage (or in the w...
Written by Nicci
Posted 13 November 2017
If you've ever found yourself confused as to why SARS has recalled your refund, even after they confirmed that you'd be recieving it, on a certain date. Below we've highlighted three reasons why this could be happening.
• The auditing department might want to check your return again
Usually SARS' system automatically restarts a verification process on your tax return if one or more of your claims weren't explained in detail. This means, a whole new verification case will be created and SARS will ask you for the same documents you'd sent them before and you might have to wait another 60 days to get your refund. ...
Written by Nicci
Posted 2 November 2017
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return.
Written by Nicci
Posted 2 November 2017
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return.
Written by Nicci
Posted 2 November 2017
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return.
Written by Nicci
Posted 2 November 2017
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return.
Written by Nicci
Posted 4 October 2017
SARS has recently announced that it will be clamping down on taxpayers who miss the deadline to submit their tax return. Besides stating that they will carry out monthly fines for each tax return that is filed late, they have even gone so far as threatening criminal prosecution and time behind bars for unpaid tax debt.
This message, from SARS, comes in the wake of reports that it missed its first quarter tax collection target by R13.1 billion and if the trend continues, it will miss its overall revenue collection target by about R50 billion for 2017. ...
Written by Nicci
Posted 13 September 2017
After you have submitted the Company tax return (ITR14), SARS may request you to complete an IT14SD.
The purpose of the IT14SD is to reconcile the information on the ITR14 to the VAT and PAYE submissions made during the year. The VAT information is made bi-monthly on the VAT 201 and the PAYE submission is made every month on the EMP201.
Below are some reasons why there may be reconciling differences between the ITR14 and the PAYE and VAT submissions. Remember, you only need to...
Written by Nicci
Posted 28 August 2017
The Tax Indaba is the largest annual gathering of tax practitioners, in-house tax staff members, government tax officials and tax academics. The Tax Indaba aims to involve all tax professional bodies in South Africa in order to add new variety and talent to benefit tax professionals who are seeking to refresh their knowledge and to learn about new tax-related developments.
To ensure continued relevance, the event is put together with the assistance of the whole tax community. The fiv...
Written by Nicci
Posted 22 August 2017
One of the most often-misunderstood things is how tax on part-time and casual workers actually gets calculated. A topic often sparking a lot of debate, causing confusion too. A lot of people are taking on more than one job- if that isn’t already their only job- others opting for the part-time or casual work positions. Initially, whether you’re working as a full or part time employee you’re inclined to pay tax, SARS has noted out points which one should follow ...
Written by Nicci
Posted 22 August 2017
So, you’ve recently submitted your tax return, received your assessment and were probably breathing a sigh of relief to be finished with the tax filing process for this year… then suddenly out of the blue you receive a confusing letter (**see bottom of page) referring to a “retirement contribution carry over balance”. You probably don’t even contribute to a retirement fund (i.e Pension, Provident or Retirement Annuity) which ends up making this letter seem even more confusing....
