Steps to Assist With SARS eFiling Disputes

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ACCOUNT RELATED DISPUTE

If you don’t agree with a penalty due to the late payment of taxes and the related interest, follow these three easy steps:

Step 1: Request remission for the penalty by providing reasons for the late payment of tax by submitting a ‘Request for Remission’ via eFiling.

Step 2: If the request for remission is partially allowed or disallowed you may dispute by completing a ‘Notice of Objection’. With your ‘Notice of Objection’ you will need to supply reasons and substantiating documents. (more…)

Rare scenarios for Income Tax Number

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Please take note of the following rare scenarios:

  • An individual can have an income tax number from birth if he / she becomes liable to submit an income tax return or becomes liable for any normal tax. For example, a child born into a wealthy family may be registered for income tax if his / her parents open a trust fund for him / her.
  • In the case of a late estate (upon death of tax payer), the old tax number cannot be used after death of a taxpayer. The executor has to apply to SARS for the new income tax number.
  • In the case of voluntary or mandatory sequestration, the tax payer must apply for a new income tax number from the date of sequestration.

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Employees Taxation For Personal Service Company or Trust

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Employees taxation for personal service company or trust. This is a company (or trust as the case may be) that is not a labour broker, and whose services to clients are performed on its behalf by a connected person;

  •  and such person would be regarded as an employee of the client if the relationship was directly between the person and the client; or
  • the person fails the control and supervision test; or
  • the person fails the regular payments test; or
  • more than 80% of the income of the company/ trust from services rendered is directly or indirectly from the client;

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Membership & Members Interest

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Differences between loans and capital contribution for members and outsiders.A loan is the act of giving money, property or other material goods to another party in exchange for future repayment of the principal amount along with interest

Member’s Loan

In simple terms, this is the money you have borrowed, or the company has loaned you. (more…)

Employees Taxation

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Rules for Taxation on Remuneration for Employees and DirectorsAs a Director of a Company, your salary is subject to monthly PAYE and UIF deductions. Many small business owners don’t realise that if they operate their business through a company (Pty), the company needs to be registered as an employer with SARS.

This means, the company needs to deduct employee’s tax (PAYE) from the amounts paid to Directors. It’s also required to make monthly EMP201 submissions (this is the PAYE, UIF and SDL return) to SARS. The same applies even in the case of “owner managed” businesses -where there is only one director and no employees. In this case, the sole director is deemed to be an employee per the Tax Act and his/her salary will be subject to monthly PAYE and UIF deductions. (more…)

Donations tax – Estate Duty

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What is Estate Duty and Donations Tax Estate Duty is payable on the estate of every person who dies and whose nett estate is in excess of R3.5 million. It is charged at the rate of 20%.  Estate duty is levied on property of residents and South African property of non-residents less allowable deductions. The duty is levied on the dutiable value of an estate at a rate of 20% on the first R30 million and at a rate of 25% above R30 million. A basic deduction of R3.5 million is allowed in the determination of an estate’s liability for estate duty as well as deductions for liabilities, bequests to public benefit organisations and property accruing to surviving spouses. (more…)

PATC Closure 2018

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Closed on the 14th December 2018 from 12.00 for our Christmas function

We will be closing at midday on the 21st December 2018 until Monday the 7th January 2019 for our Annual December Shutdown

We take this opportunity to wish all our clients, friends and colleagues a joyous, festive and happy holidays. May Christmas bring fun, laughter and happiness to All….

A personal thank you from Gavin Bacon and his team for all the support from our wonderful partners.

Office Administration & Processes: Calculation of Fees

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Spreadhseet with calculation of fees and penFees in respect of professional services are based on time spent at competitive hourly rates which vary depending on the nature and complexity of the services required and range from R320 per hour for compliance services to R520 per hour for consultations, business services and value added services. Within certain circumstances, and at the sole discretion of the Service Provider, loyal clients who have been clients for more than a year are rewarded with a fixed monthly fee.  Income tax returns, payroll and company and close corporation CIPC services are charged at fixed prices.

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Human Resources Policies

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Human Resources going over contract with employeeHuman resource policies are the formal rules and guidelines that businesses put in place to hire, train, assess, and reward the members of their workforce. These policies, when organised and disseminated in an easily used form, can serve to preempt many misunderstandings between employees and employers about their rights and obligations in the business place.

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