Maximizing Tax Deductions for Individual Taxpayers
You need to submit your tax return and don’t know which expenses you are allowed to deduct! Help!
Maximizing Tax Deductions for Individual Taxpayers Read More »
Taxation
How far back can I claim pre-trade expenses?
A very common question was raised in the boardroom last week during a consultation – how far back can I claim expenses before I actually started doing business? Let’s quickly recap what SARS allows on this topic. Pre-trade expenses The general deduction rule stipulates that you can only deduct expenses incurred in the production
How far back can I claim pre-trade expenses? Read More »
Beware These Four Statutory Deduction Pitfalls On Your Payroll
When a business acts as an employer, there are certain statutory requirements that the business will have to adhere to.
Some of these requirements include compulsory registrations with certain governmental departments.
Beware These Four Statutory Deduction Pitfalls On Your Payroll Read More »
Individual Taxpayers! Expenses you are allowed to deduct. (Part 2)
In our previous article, we covered some of the key deductions, including: Pension Fund contributions, Retirement Annuity contributions, Income Replacement Policy contributions, and Donations. Today, we’ll explore the remaining expenses you can claim when submitting your personal tax return to SARS. Let’s break it down step by step. Travel Expenses: What You Need To Know Travel
Individual Taxpayers! Expenses you are allowed to deduct. (Part 2) Read More »
Your Payroll System Needs To Be Updated With New UIF Limits
The employee contributes 1% towards UIF and the employer contributes another 1% on behalf of the employee, resulting in a total UIF contribution of 2% being payable. This 2% is however not payable on the total gross salaries, but calculated based on a capped amount.
Based on the notice published in the Government Gazette no. 35715, dated 26 September 2012, the UIF earning limit increased from R149,736 to R178,464 p/annum and from R12,478 to R14,872 p/month.
Your Payroll System Needs To Be Updated With New UIF Limits Read More »
A refresher on Subsistence Allowances
We recently had numerous questions regarding subsistence allowances from customers restructuring their employees’ salary packages and thought it wise to share this update with our readers. Definition A Subsistence allowance is any allowance given to an employee or a holder of any office for expenses incurred or to be incurred in respect of personal subsistence
A refresher on Subsistence Allowances Read More »
How to set up a credit push SARS payment?
Starting 4 September 2013, debit pull transactions on eFiling will be phased out and discontinued. This process will take place over a month. A warning message will appear on eFiling, where a debit pull transaction is no longer available. You are encouraged to perform credit push transactions or use one of our alternative methods of
How to set up a credit push SARS payment? Read More »
2 Step Guide To Maternity Leave
Every female worker knows that she’s entitled to maternity leave. We however realized from the number of queries we receive, that there is still a lot of uncertainty to this process – hence our quick 2-step guide to maternity leave. Ensuring a relaxing maternity period with your new baby is as easy as understanding the
2 Step Guide To Maternity Leave Read More »