What is the provisional taxpayer?

You are a Provisional Taxpayer if you earn income other than a salary or remuneration. income such as rental income from a property, interest income from investments or other income from a trade.

How does it work if you are a provisional Tax payer ?

Provisional tax is a tax system that makes taxpayers estimate and pay their taxes in the form of two payments (one every six months), instead of having to pay one large sum at the end of the tax year

• Your first payment is due by 31 August or six months after the approved year-end date;
• Your second payment is due by 28 February of the following year, or on the approved year-end  date; and
• Your third payment (a voluntary top-up payment) is due by 30 September, or six months after the approved year-end date.

Do I have to submit both company`s tax and my individual tax?

YES

What is a Tax year period?

In general Tax year is an annual accounting period for keeping records and reporting income and expenses. Tax year can also be adopted using the calendar year

What is a tax season?

A period during which you are required to submit all your Tax returns to SARS,

I work for government and they handle my taxes , now i have receive some other income from the work i did outside my employer. how do I submit this?

The additional income must be added to the initial return to have the final amount/tax liability.

Can I have a Tax clearance certificate before i can make payment to SARS?

NO you cannot, unless a payment arrangement or suspension of debt has been agreed between the taxpayer and SARS.

When must I register for VAT?

If the income earned by Business in any consecutive twelve month period exceeded or is likely to exceed R1 million​, then it’s mandatory for that Business to register for VAT. Any business may choose to register voluntarily if the income earned, in the past twelve month period, exceeded R50 000.

What must i submit in order to be registered for VAT?

• Incorporation Certificate of Company (in case of Companies)
• MoA & AoA (in case of Companies)

Particulars of people involved

• Proof of Identity (ID Copy,Driving License)
• Proof of Address (Rental Agreement/ Lease Agreement of Company)
• Bank statements (3 months or showing all the income received)
• Invoices to customers that can be traced to the bank statement

How much do you charge ?

For a quote please submit an enquiry and we will contact you.

What expenses can I claim back VAT from SARS?

All Business expenses incurred while making taxable income within the Business

How does VAT work?

You declare the total of your Output (Sales) VAT less your Input (Expenses/Payments) VAT. This process is done on a two months basis and depending on which category you’re registered in your months of submission will be specific and you need to know this.

When must I submit?

By the 25^th of the month following the return date, e.g. Jun/Jul VAT will get paid 25^th August.

On the 25th each month following the period in which the expenses/sales were made or incurred.

What happens if I can’t pay the amount Owing to SARS?

Payment arrangement or suspension of debt can be agreed on between the taxpayer and SARS.

Where can you get payslips for employees?

You either purchase a payroll software for your company and use it inhouse or you can outsource the services to us at info@snctax.co.za. We will monthly or weekly as per your request process your payroll information and send you electronic payslips to print and distribute to your employees.

Where do you register for PAYE?

PAYE is registered at a SARS branch or online on www.sarsefiling.co.za, if you need assistance email us at info@snctax.co.za.

How would you calculate PAYE to deduct from employee salaries?

It is advisable to use a payroll system or outsource to a company that has one to ensure that the tax calculations are correct. A sars guide for the individual tax calculations is available to employers but it does not include the effects of Medical Aids, Travel allowances, Retirement Annuities, etc.

Where do you register for UIF?

UIF is registered at a Department of Labour branch or online at www.ufiling.co.za, if you need assistance email us at info@snctax.co.za.

What is SDL?

SDL is skills Development Levy and it is charged by Government to Employers as a percentage of their payroll or salaries bill. SDL is registered at a SARS branch or online on www.sarsefiling.co.za, if you need assistance email us at info@snctax.co.za. SDL also requires employers to register at a Skills & Education Training Authority (SETA) for their business sector, this will determine who SARS pays this amount to.

What is EMP201?

PAYE/UIF/SDL Tax return that employers must submit to SARS monthly as a confirmation of what amount you’ll be paying over to SARS on behalf of your employees.

What is EMP501?

It is a bi-annual reconciliation of PAYE/UIF/SDL that employers must submit to SARS. When you submit the final EMP501 for a tax year you need to also produce IRP5 certificates for your employees. If you need assistance email us at info@snctax.co.za.

What is COIDA?

COIDA stands for Compensation for Occupational Injuries and Diseases Act. This is an insurance to protect employers and employees against claims for work related injuries. COIDA is registered at a Department of Labour branch or online on https://www.cf-filing.co.za/CompensationFund/ , if you need assistance email us at info@snctax.co.za.

Why the commissioner declined the name of first choice?

Your first choice may be declined if it is too similar to an existing company name.

What is the Power of Attorney?

It is a written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter, in this case is you as the client giving SNC-TAX power to handle your affairs

How long does it take for the name to be registered?

5 working days from the date of receipt, provided that all the requirements are met.

How long does it take to reserve the Company Name?

5 working days from the date of receipt, provided that all the requirements are met.

What is the annual Fee/ annual submission?

An annual return is a statutory return in terms of the Companies and Close Corporations Acts and therefore MUST be complied with,Prescribed fee will depend on the Annual Turnover of the Company or CC

If am not trading do I have to submit or pay the annual fee?

Yes, its a statutory requirement to do your annual submission and R150 fee payable

What will happen if I do not do my annual submission to CIPC?

This will result in your company being deregistered, due to Non-compliance