Admin Penalties for late Tax Returns Did you know that if you don’t submit your tax return on time, SARS has the power to charge you a fixed rate admin penalty of between R250-R16 000 per return outstanding, per month that it is outstanding? Avoid admin penalties for late Tax Returns. Remember The higher your.. read more →

5 Steps on how to keep a Detailed Logbook Logbooks are extremely important! If you intend to claim any sort of vehicle claim, whether it be for a company car, or your personal car, you must keep a detailed logbook. Follow these 5 simple steps: The minimum requirements of a detailed logbook are as follows:.. read more →

Am I a Provisional Tax Payer? Provisional tax payers are: • A Company • A Sole proprietor/ Partnership • An individual that earns income from more than once source and the total taxable income is above the current threshold of R75 000p.a. • An individual who’s taxable income from interest, dividends, rental of property etc.,.. read more →

05 Apr 2017
April 5, 2017

Tax return – Must I submit?

391 Comments

Must I submit a Tax Return? If you earn under R350 000 for a full year, from one employer (that’s your total salary income before tax) and have no other sources of additional income (for example, interest or rental income) and no deductions that you want to claim (for example medical expenses, travel or retirement.. read more →

09 Nov 2016
November 9, 2016

Record Retention

390 Comments

Record Retention Did you know that an individual is required to keep all supporting documents for a minimum period of 5 years from the date of assessment of a particular tax? Most people think they must just keep documents for 5 years, but tax returns are typically assessed 5 to 11 months after the tax.. read more →