I am an employee, how come I owe SARS more money?
Posted 26 July 2012
My payslip shows all the deductions including tax that I pay monthly, so I don't understand how I got to owe SARS R1700 where as I pay monthly via PAYE?
Tax season open - What can I claim as a deduction to reduce my tax?
Posted 11 July 2012
Salaried employees all over the country are busy filing their tax returns in the hope that perhaps they will be due a refund. For most who earn income from their employer they have already paid their taxes in the form of Pay-As-You-Earn (PAYE), but now what? Although salaried employees are limited, by tax law, as to what they can deduct from their income, there are a few things that can be claimed. Deductions against income reduce ones Taxable Income and thus reduce the amount of tax owing to SARS. The allowable tax deductions are:...
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How do I calculate how much tax I owe?
Posted 23 April 2012
TAX PAYABLE is essentially calculated as follows:
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How do I know if I am a tax resident of South Africa?
Posted 15 March 2012
A burning question people often ask tax professionals is whether or not they are a tax resident in a certain country. The question is important because it distinguishes between tax residents and tax non-residents – both paying tax in South Africa.
- Tax non-residents are people who do not ordinarily reside in South Africa but do business here and thus pay tax to the SA government ONLY on what they earned from South African sources.
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What is Provisional Tax?
Posted 6 January 2012
So as we are getting closer to Provisional Tax Season the question on taxpayer’s minds is, do I qualify as a provisional taxpayer? The Income Tax Act sets out specifics as to who qualifies and who doesn’t.
If you are a salaried employee then your employer will deduct a monthly amount and pay it over to SARS on your behalf. You will only have to file one tax return at the end of tax season.
Otherwise you may qualify as a provisional taxpayer and will have to submit a return twice a year...
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