Services
Income Tax
- IT12S - for Individuals who receive a Basic Salary and travel allowance
- IT12C - for Individuals with Rental and/or Commission income
- IT14 - for Companies and Close Corporations
- IT12TR - for Trusts
Value Added Tax (VAT)
You must registered for VAT if your income exceeds R 20 000.00 per month or R 1 million per annum.
Pay As You Earn (PAYE)
PAYE will be deducted as per the tax rates related to the specific year.
Skills Development Levy (SDL)
SDL will be paid over to the Receiver of Revenue by the employer if the renumeration of all the employees exceed the amount of R 41 000.00 per month, or, R 500 000.00 per annum.
Unemployment Insurance Fund (UIF)
The employer must pay over 2% to the Receiver of Revenue or the UIF offices. 1% must be deducted from the employee's salary and 1% mmust be paid by the employer.
IRP5
This is only issued once a year indicating the SITE and/or PAYE that has been deducted.
IT3(a)
This is only issued once a year - if no PAYE was deducted.
IRP6
This is payable twice a year with an optional 3rd payment.
Annual Financial Statements
Includes the following documentation:
- Balance Sheet
- Income Statement
- Cash Flow
- Notes to the Financial Statements
Payroll
Payslips for the end of the month for your employees.
Leave
80% of leave pay is taxable (previously 60%)
15 working days or 21 consecutive days
(15/12 months = 1.25 accrued monthly)
(21/12 months = 1.75 accrued monthly)
BCEA Leave: If Employee work overtime or gets a commission - BCEA will be paid when ever taking Leave.
Travel Allowance
60% of travel allowance is taxable.
Management Accounts & Graphs
Issued every 2nd month. This is a valuable decision making tool
Financial Services
Key-Person Insurances
Life Policies
Retirement Annuities
Income Protection Policies
Short Term Insurances
Registrations
- VAT
- PAYE
- UIF (Receiver + UIF Offices)
- Employee registration on UIF
- Income Tax
- Provisional Tax
- WCA (Workmen Compensation Fund)
- Private Companies (Pty) Ltd
- Trusts
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