by alertsprofessionalservices | May 10, 2024 | Blog
You can now be fined or jailed for small tax mistakes. Inadvertent (unintended, unintentional, unplanned) tax errors – including not alerting SARS of a change in your personal details or failing to keep records from previous tax years – could potentially land...
by alertsprofessionalservices | May 10, 2024 | Blog
Capital Gains Tax was introduced on 1 October 2001. It forms part of normal income tax and is based on the sliding tax tables for individuals. Capital gains is based on the concept of disposal. Events that trigger a disposal include a sale, donation, exchange, loss,...
by alertsprofessionalservices | May 10, 2024 | Blog
What Is a Break-Even Analysis? A breakeven analysis is a calculation that tells business owners the minimum number of units of a good or service they must sell to cover all their costs and to be profitable. It helps entrepreneurs come up with a pricing strategy that...
by alertsprofessionalservices | May 10, 2024 | Blog
As accountants, we have noticed over the past years a significant increase in VAT and Income Tax verifications and audits conducted by SARS. These reviews and audits are not limited to the refunds due by SARS but includes returns where payments have been due and paid...
by alertsprofessionalservices | May 10, 2024 | Blog
Income tax is the normal tax which is paid on your taxable income. Examples of amounts an individual may receive, and from which taxable income is determined, include the following – Remuneration (income from employment), such as, salaries, wages, bonuses, overtime...
by alertsprofessionalservices | Feb 16, 2024 | Blog
14 February 2024 Provisional Tax (IRP6) Submission Deadline at SARS – 29 February 2024. Provisional tax is not a separate tax from Income Tax. It is a method of paying tax due, to ensure the taxpayer does not pay large amounts on assessment, as the tax liability...
