Promoting Social Inclusion and Integration of Migrants

Tax Compliance

SARS eFiling

SARS eFiling is an online platform that allows taxpayers, tax practitioners, traders and businesses to register and submit returns and declarations, make payments and perform a number of other interactions with SARS in a secure online environment.

Click here to register for e-filing:

https://secure.sarsefiling.co.za/app/register

How do I register for tax webinar
Business Finance

Turnover Tax

Turnover Tax is for Micro businesses with an annual turnover of R 1 million or less. The following taxpayers may qualify:
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Individuals (sole proprietors)
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Partnerships
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Close corporations
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Companies
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Co-operatives

Turnover Tax

Turnover Tax is for Micro businesses with an annual turnover of R 1 million or less. The following taxpayers may qualify:
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Individuals (sole proprietors)
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Partnerships
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Close corporations
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Companies
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Co-operatives
Business Finance

Personal Income Tax (for self-employed individuals)

Self Employed/Sole Trader or persons in Partnerships need to register for Personal Income Tax (PIT) directly with SARS via SARS eFiling. Whether as a self-employed individual or business, you are required to register your business with SARS, file your tax returns and pay the required taxes on time.

Sole traders, partners in a partnership and self-employed individuals must declare their business income on their ITR12.

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Company Taxes

Corporate Income Tax (CIT) is a tax imposed on companies’ resident in the Republic of South Africa i.e. incorporated under the laws of, or which are effectively managed in, the Republic, and which derive income from within or outside the Republic. Non-resident companies which operate through a branch, or which have a permanent establishment within the Republic are subject to tax on all income from a source within the Republic.

CIT is applicable (but not limited) to the following companies which are liable under the Income Tax Act, 1962 for the payment of tax on all income received by or accrued to them within a financial year:

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Listed public companies
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Unlisted public companies
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Private Companies
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Close Corporations
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Co-operatives
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Collective Investment Schemes
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Small Business Corporation (s12E)
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Body Corporates
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Share Block Companies
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Dormant Companies
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Public Benefit Companies
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Public benefit companies
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Dormant companies
SARS Value Added Tax (VAT) Webinar

Vat Registration

It is compulsory for a business to register for VAT if the total value of taxable supplies made in any consecutive twelve-month period exceeded or is likely to exceed R1 million. The business must Register for VAT on eFiling or complete a VAT 101 – Application for Registration form and submit it to the local SARS branch within 21 days from date of exceeding R1 million.

SARS will issue a VAT reference number immediately to any person who submitted a registration application through eFiling or walk-in channel, if no risk was identified.

Pay-As-You-Earn (PAYE)

PAYE, or Employees tax, is the tax that employers must deduct from the employment income of employees – such as salaries, wages and bonuses and pay over to SARS monthly. It’s withheld daily, weekly, or monthly when these amounts are paid or become payable to the employees.

It ensures that an employee’s income tax liability (amount of tax owed) is settled on an ongoing basis, while the income is being earned. The advantage of this is that the tax liability for the year is settled over the whole year of assessment.

The amount of PAYE you pay depends on how much you earn and is calculated using tax tables issued by SARS.

Business Finance
Business Finance

Pay-As-You-Earn (PAYE)

PAYE, or Employees tax, is the tax that employers must deduct from the employment income of employees – such as salaries, wages and bonuses and pay over to SARS monthly. It’s withheld daily, weekly, or monthly when these amounts are paid or become payable to the employees.

It ensures that an employee’s income tax liability (amount of tax owed) is settled on an ongoing basis, while the income is being earned. The advantage of this is that the tax liability for the year is settled over the whole year of assessment.

The amount of PAYE you pay depends on how much you earn and is calculated using tax tables issued by SARS.

UIF

The Unemployment Insurance Fund (UIF) gives short-term relief to workers when they become unemployed or are unable to work because of maternity, adoption and parental leave, or illness. It also provides relief to the dependents of a deceased contributor.

The unemployment insurance system in South Africa is governed by the following legislation:

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Unemployment Insurance Act, 2001 (the UI Act)
These Acts provide for the benefits, to which contributors are allowed, and the imposition and collection of the contributions to the UIF, respectively, and came into operation on 1 April 2002.

All employees, as well as their employers, are responsible for contributions to the UIF. However, an employee is excluded from contributing to the UIF if he or she:

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Is employed by the employer for less than 24 hours a month
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Is employed as an officer or employee in the national or provincial sphere of Government
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Is the President, Deputy President, a Minister, Deputy Minister, a member of the National Assembly, a permanent delegate to the National Council of Provinces, a Premier, a member of an Executive Council or a member of a provincial legislature or
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Is a member of a municipal council, a traditional leader, a member of a provincial House of Traditional Leaders and a member of the Council of Traditional Leaders.

SDL

SDL is a levy imposed to encourage learning and development in South Africa and is determined by an employer’s salary bill. The funds are to be used to develop and improve skills of employees.

SDL is due by employers who have been registered.

Business Finance