Zandise Business Accountants

12/08/2021

Your Company Profile helps potential customers, potential suppliers, and the media to understand your business. The profile allows them to understand your company's approach, unique strengths, and relevant experience. Your company profile demonstrates your company's ability to meet your customer needs effectively. Most tender documents and landlords also require your profile.

It is a great marketing tool used to give an amazing first impression. It adds a tangible element to your business when meeting with prospective clients, other important stakeholders, or use it as part of your tender application.

02/07/2021

Important dates for taxpayers in July 2021
Income Tax 01/07/2021 Opening of 2021 Filing Season

Employment Taxes 07/07/2021 EMP201 submissions and payments

Value-Added Tax 23/07/2021 Manual VAT201 submissions and payments

Value-Added Tax 30/07/2021 Electronic VAT201 submissions and payment

24/06/2021

When SARS issues an unfavourable assessment, there are many aspects to consider in preparation for a dispute, including how to deal with the “pay-now-argue-later” rule, and what the appropriate forum for the dispute is. The following options are available to you as the taxpayer:

Suspension of payment – the various forums and important criteria to consider when applying for suspension of payment, negotiating with SARS, and judicial remedies where SARS refuses to suspend payment of a disputed amount.

Requesting reasons for an assessment – considering the tactical merits and outcomes of requesting reasons before lodging an objection to an assessment.

Disputes regarding the limitation period (section 99(2) of the TAA) – when can SARS make use of this section, and how can taxpayers manage and mitigate risks around "prescription"?

The Objection and Appeal process – timelines, the requirements for a valid objection and appeal, the role requesting a reduced assessment, and practical/strategic tips for success.

Judicial remedies where SARS fails to comply with dispute processes, obligations and timelines.

The pros and cons of the Alternative Dispute Resolution (ADR) process – costs, the purpose and nature of proceedings, and how to prepare for an ADR meeting with SARS.

How to negotiate a settlement with SARS.

For more information contact us with any tax issue, let us help you.

19/06/2021

Tax season is starting on the first of JULY.
Get your documents ready for submission and send them to your tax consultant. Should you wish us to help you, contact us, we will get a tax Consultant to get in touch with you.

31/05/2021

31/05/2021

The Section 12J tax incentive is a unique tax incentive which has seen significant uptake by tax payers who are looking to reduce their capital gains tax and/or income tax liabilities and at the same time have exposure to investments across various risk profiles.

25/05/2021

We asked Zandise Accountants what makes them African and this is what they have to say:
"Africa lives in me and I live in Africa. Thus I am an African

I am not an African because I was born in Africa but I am an African because Africa moulded me.
I am not African because of the colour of my skin but I am an African because I was raised by Africa.

My thoughts, my perspective, my values, my ethics are influenced by Africa
My Past, my present & my future are shaped my Africa
My speech and my movements are guided by Africa

Africa is more than a continent
Africa is the people who live in Africa
Africa is the abundance of history and knowledge which existed before the existence of pen and paper.
Africa is the richness of its’ resources.
Africa is a plethora of cultures & traditions.
Africa is a rainbow of new & old languages.

What makes me an African?

Africa lives in me and I live in Africa
I am an African because Africa lives in my blood
I am an African because I choose Africa and Africa chooses me-everyday.
I belong to Africa and Africa belongs to me

What makes me an African?
Being African is a way of living life.
That’s what makes me an African."

Business Accountants

24/05/2021

SARS concerned as another Tax Practitioner sentenced for VAT non-compliance
Tshwane, 21 May 2021 – A Tax Practitioner, who tried to dodge his first court appearance but was later arrested, has been sentenced in the Bloemfontein Regional Court to 24 months imprisonment suspended in full for three years for 48 VAT offences. This follows the arrest of Mr Luvhengo on 9 September 2020, after he failed to appear on the first appearance on 31 July 2020. He was released on bail.

The non-compliance offences were committed while Tax Practitioner Ritondeni Luvhengo was in charge of the tax affairs of a construction company.

Luvhengo faced 24 charges for failing to disclose relevant material facts on the VAT 201 returns submitted to the SARS.

He submitted 24 nil VAT 201 returns to SARS without the consent of the client in order to obtain a Tax Clearance Certificate.

As a result, the accused was also charged with 24 counts for acting without the client’s consent and authority.

SARS Commissioner Edward Kieswetter said, “SARS will not tolerate non-compliance by taxpayers and tax practitioners. In fact we hold practitioners to a higher standard, as important intermediaries in our quest towards voluntary compliance.”

24/05/2021

Dual tax agreements
It is said that African countries have dual tax agreements with South Africa to ensure expatriates are not taxed by both governments.
However, this does not free them from declaring their annual income to both SARS and that nation’s tax authority. Also, if the tax in that country is less than what would have been paid in South Africa, they may have to pay the difference to SARS.
Each country’s dual tax agreement differs in its requirements, again suggesting that the assistance of an expatriate tax specialist is critical.

24/05/2021

A provisional taxpayer is any person who earns income from a source other than employment with an employer registered for South African PAYE,”.

“If so, they must declare their estimated annual income upfront, paying half their tax by 31 August and the balance by 28 or 29 February the next year

24/05/2021

Section 12T provides an exemption from normal tax to natural persons on all amounts received, including dividends from tax free investment.

A natural person is allowed to contribute R36 000 during any year of assessment with a lifetime contribution limit of R500 000.
This is the effective way of reducing your tax liability while you remain tax compliant.

17/05/2021

The Commissioner of the South African Revenue Service (SARS) – Mr Edward Kieswetter, and the National Director for Public Prosecution (NDPP), Advocate Shamila Batohi, have agreed to further enhance collaboration and deal with key challenges of tax crime and non-compliance, eroding the tax revenue base and the integrity of the tax system.

Whilst this enhanced collaboration covers a number of aspects, this immediate focus will be the non-compliance by employers, who deduct Pay as You Earn (PAYE), never turn those taxes over to SARS, and do not file their returns when required, as well as other general corrupt activities.