09 May 2016
May 9, 2016

Record Retention


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 →

05 May 2016
May 5, 2016

Am I at Audit Risk?


Audit Risk: Are you at risk? Did you know that you are at high risk of Audit if your income/deductions contain any of the following items: Commission income and claim. Travel allowance and claim. Rental income. Income from Sole proprietorship or Partnership. High medical expenses. You are required to have all the necessary slips or.. 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 →

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 →

11 Apr 2016
April 11, 2016

Are you a Provisional Tax Payer?


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 →