What is it? Securities Transfer Tax is levied on every transfer of a security and was implemented from 1 July 2008 under the Securities Transfer Tax Act, No. 25 of 2007, together with the Securities Transfer Tax Administration Act, No. 26 of 2007.
Author: Gavin Bacon
IRP5 / EMP501 SALARIES AND WAGES RECONCILIATION
It involves an employer submitting an accurate reconciled Employer Reconciliation Declaration (EMP501) with corresponding Employee Tax Certificates [IRP5/IT3(a)s] (Including EMP601). There are three fundamentals that must reconcile in order for your submission to be successful which include: Monthly Employer Declarations (EMP201s) submitted [Pay-As-You-Earn (PAYE) and/or Skills Development Levy (SDL), Unemployment Insurance Fund (UIF) amounts due…
Compromise of Tax Debts with SARS
The Tax Administration Act deals with the waiving of Taxes owed to SARS and also a Compromises on Debt owed by Individuals, Trusts, Close Corporations and Companies. SARS may be willing to write off or reduce taxes, penalties, interest and even additional tax owed to SARS. Specific situations and conditions apply. “Terms and conditions apply”…
TRANSFER DUTY
What is it? Transfer Duty is a tax levied on the value of any property acquired by any person by way of a transaction or in any other way. For the purpose of Transfer Duty, property means land and fixtures and includes real rights in land, rights to minerals, a share or interest in a…
IRP5 / EMP501 SALARIES AND WAGES RECONCILIATION
It involves an employer submitting an accurate reconciled Employer Reconciliation Declaration (EMP501) with corresponding Employee Tax Certificates [IRP5/IT3(a)s] (Including EMP601).
Gavin Bacon is awarded Tax Court Appointment
Recognising his vast experience and Tax Degree, The Office of the Registrar for the Republic of South Africa have appointed Gavin for a period of five years. Gavin was honoured to accept the appointment.
Estate Planning For The Small Business Owner – Why It Matters.
Do you own your own small business? Do you have a plan in place if you die while you are still running it? Because none of us know when life will change, it is important to put in place a formal estate plan as soon as possible. If you don’t, you run the risk of…
Year-End Bonuses Aren’t Compulsory But Maybe They Should Be…
Does your business pay bonuses? Do your employees expect you to give them a little something extra at the end of the year or for a job well done?
Work For Yourself? Here’s How You Should Be Paying Tax.
Are you self-employed, a contractor, a freelancer, or a budding entrepreneur who is proudly boss-free? No matter how you do it, if you earn an income, you legally need to pay income tax. Not sure how to go about this? contenu utile sur assurance antivol budget Read on…
Annual Audit Or Review? Which Is Right For Your Company?
With the 2011 change in the Companies Act, 80 to 90% of companies in South Africa, namely PTY Ltds, do not require an annual audit. Rather the new Act allows for an independent review – an alternative form of ‘auditing’ a company’s financial statements. Will a review do for your company? Or would an annual…
