Budget 2017 Tax Guide
This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy-related information for 2017/18
Who is a Provincial Tax Payer?
Retirement fund lump sum benefits consist of lump sums
from a pension, pension preservation, provident, provident
preservation or retirement annuity fund on death, retirement
or termination of employment due to attaining the age of
55 years, sickness, accident, injury, incapacity, redundancy or
termination of the employer’s trade.
Click here for the full Budget 2017 Tax Guide
What to do if you find out there may be Tax or Custom Crime happening in your workplace –
REPORT A TAX OR CUSTOMS CRIME
SARS wants to make reporting a tax or customs crime easy for you. If you want to see what they consider a suspicious activity click here. They have even created an online form for you to complete.
SARS – TAX CRIME AND CUSTOMS CRIME
What do you need to get together before you start?
- It’s useful if you have an ID number; Tax Reference number of the person you are reporting. But it’s not essential. Even a car registration number will help
DO I NEED TO PAY INCOME TAX?
BUDGET SPEECH 2016 CHANGES have come into effect with the recent budget speech that Finance Minister PRAVIN GORDHAN delivered 24th February 2016.
The South African government have plans in the forthcoming year to:
Manage finances in a prudent and sustainable way
Re-ignite confidence and mobilise the resources of all social partners
Collectively invest more in infrastructure to increase potential growth
Give hope to our youth through training and economic opportunities
Protect South Africans from the effects of the drought
Continuously improve our education and health systems
Accelerate transformation towards an inclusive economy and participation by all
SARS tax tables 2016 came into effect on the 1st March 2016. Do you have trouble keeping up to date with Tax Changes? Are you calculating tax based on the correct rates? Employers need to ensure that they are using the the correct rates.
SARS tax tables 2016 – All changes below are effective from 1 March 2016 to 28 February 2017:
As part of Pay Solutions payroll services, we will ensure that the correct tax and other levies are being deducted. We will complete the relevant documentation and submit IRP5 tax certificates via EasyFile and SARS efiling on behalf of our clients.