You’ve been up since 4am in order to catch yet another red-eye flight for a 9am business meeting - 1,400km away - and you’re already onto your third coffee by the time you board the plane.
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In the Capital Gains section of the annual tax return (ITR12), SARS requires you to insert the relevant asset source code for the item you have sold. However, when you sell financial investments (e.g shares) the financial institution issues an IT3(c) which shows the profit/loss source code (i.e4250/4251) and not the asset source code. This causes confusion for taxpayers, who think th...
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Surely most of us love to travel, but traveling for business purposes is no fun when it comes to completing your tax return.
SARS has some rather onerous requirements, but as long as you know what you need, submitting your documents to SARS should be plain sailing.
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From the 25th October 2019, the printed Tax Clearance Certificate (TCC) will be substituted by the electronic Tax Compliance Status (TCS). This new digital version of the TCC allows for a more secure experience. This week we zoom into Wear and Tear also commonly known as Depreciation. Below we've covered some of the top questions we've received from our Helpdesk. Take a quick read through our Q&As and see how your pressing depreciation questions can potentially be solved. It’s that time of the year again and employers are issuing their employees IRP5s for the tax year. An IRP5 is a tax certificate which shows the total employment income that you earned for the tax year, the total employment related deductions that were taken from your income and paid over to either a retirement fund (pension, provident or retirement annuity fund) or a medical aid and the total tax (PAYE, UIF and SDL) that you paid...
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Wear and Tear (Depreciation) Top Questions
Posted 21 May 2019
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Top Questions on IRP5s
Posted 9 May 2019
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