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Tax

SARS Budget 2017

Budget 2017 Tax Guide

 
sars

SARS Budget 2017

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?

SARS Budget Speech 2017          Budget 2017 Tax Guide
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

Tax Fraud

Be On Alert for Tax Fraud and Customs Crime

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.

Tax Fraud

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
Income Tax

Do I Need To Pay Income Tax?

​DO I NEED TO PAY INCOME TAX?

People who pay income tax are generally individuals who earn an income e.g. from a salary, commission, fees, etc.
If you earn under R350 000 for a full year from one employer (that’s your total salary income before tax) and have no other sources of additional income (for example, interest or rental income) and no deductions that you want to claim (for example medical expenses, travel or retirement annuities), then you don’t need to submit a return.
Corporate tax includes tax paid by companies or close corporations, as well as trusts, on their annual income.
Most of the State’s income is derived from Income Tax (personal and corporate tax), although nearly a third of total revenue from national government taxes comes from indirect taxes, primarily Value-Added Tax (VAT).
People who pay income tax are generally individuals who earn an income (from a salary, commission, fees, etc.).
Corporate tax includes tax paid by companies or close corporations, as well as trusts, on their annual income.
Most of the State’s income is derived from Income Tax (personal and corporate tax), although nearly a third of total revenue from national government taxes comes from indirect taxes, primarily Value-Added Tax (VAT).

Non-residents

South Africa has a residence-based tax system, which means residents are, subject to certain exclusions, taxed on their worldwide income, irrespective of where their income was earned. By contrast, non-residents are taxed on their income from a South African source.
Non-residents pay tax on their income from a South African source.
Pay Solutions have experienced consultants who can advise on certain aspects of Taxation. For more general queries please contact SARS directly.
Budget Speech 2016 Changes

BUDGET SPEECH 2016 CHANGES

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

SARS tax tables 2016 – how does that affect you?

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:

  • Tax Tables
  •  SARS tax tables 2016
    Tax Tables1

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.