Individual Tax

Income Tax… this is where the rubber hits the road - for any business or individual. You can have the best product, business, or boast the most impressive catalogue of stock or assets…you can even have the fanciest accounting on the block…but all of that gets measured and succeeds or fails on the strength of your Income Tax Management and Strategy.

It’s about mitigating risk and ensuring that you retain what is rightly yours whilst responsibly paying to Caesar what is Caesar’s (and not a buck more!).

Be an expert in what you do, and team with an expert in tax, who combines up-to-date tax knowledge with detailed, personalised care and focus over your interests.

It’s about peace of mind and confidence and practicing good management over what you have worked so hard to attain.

tax profile oversight

We take on the job of overseeing all your income tax matters - enabling you to relax and do what you do best. This includes:

  • Setting up Power of Attorney with SARS to represent you in all tax matters.

  • Overseeing your profile and all details in SARS database and ensuring they are up to date.

  • Ensuring continuous tax compliance.

  • Ensuring all required tax submissions are made; on time; and correctly.

  • Handling all payments to SARS (sadly, no, not from our own bank account, but yours - we request and you authorise).

  • Handling all SARS queries.

  • Taking on all disputes where needed - escalating through the tiers from Verifications, Audits, Objections, Appeals, Requests for remission (of penalties), Alternate Dispute Resolutions, Suspension of payment submissions, Tax board hearings. Tax disputes in excess of R1m can proceed to Tax Court.

  • Ensuring SARS follows the tax rules and time-lines and acts and assesses correctly.

  • We assess tax scenarios (actual and potential) and provide tax guidance using tax law, tax cases and interpretation notes. We compose Tax Opinions and can obtain tax rulings (ATRs) from SARS.

Most importantly though: we ensure that you are always informed, approve every submission and know exactly what is going on.

Income tax submission (ITR12’s)
- annual

This is our regular tax submission process for our clients:

Preparation and calculation:

  • We collate all of your documents, make sure that they make sense and are correctly made out (incl. amounts, periods, deductions, source codes);

  • We load all of this into our customised-client-template which calculates what tax you should be paying or receiving back, and compares this to your previous submissions too.

Then we edit and submit the tax return.

 Checking and Disputes:

It is our job to not trust, or rely on, SARS:

  • to get your information right,

  • to give you what you are due,

  • to pay you your refund on time.

We ensure that our client's interest are looked after and also that undue risk is removed.

Earnings and Deductions check-sheet examples (what will need to be declared, and what we require if we handle your tax return):

  1. For salary earners (from payslip):

    1. Total gross salary and other remuneration (incl. allowances and Fringe benefits) for this year.

    2. Total PAYE contribution for the year

  2. For business earnings (including trades and property rentals): A schedule/financial report (eg. on our templates) that will give us:

    1. Turnover (total sales)

    2. Deductible business expenses (If you are not sure if it qualifies for deduction, include it and we will assess).

    3. Any PAYE or other tax (including that paid to a foreign country) that was paid against the income. 

  3. Total tax-deductible contributions:

    1. Retirement Annuity (RA),

    2. 18A Donations,

    3. home-office costs (on our schedule and ensuring you meet the stringent criteria),

    4. motor vehicle details and logbook.

  4. Medical:

    1. Medical Aid (not insurance) contributions & number of beneficiaries (incl. you),

    2. total qualifying (check rules) out of pocket medical expenses (see our schedule)

  5. Capital gains (from sale of fixed property, business-use & other large assets, shares or interest in a business):

    1. supply detail of initial & selling costs,

    2. improvements, and

    3. selling price,

    4. together with all dates (on our template).

  6. Other earnings details, eg's:

    1. interest or dividends from investments (including tax-free investments),

    2. bank interest,

    3. commissions,

    4. competition, and gambling winnings.

    5. Crypto earnings

  7. Any donations made or received.

  8. Any lumpsums or withdrawals from retirement funding policies or employment or other sources

  9. Anything else you think could possibly affect your income situation that we need to be aware of. eg.

    1. divorce,

    2. release of debt

    3. foreign investment, assets, sale of goods or earnings

    4. substantial time spent out of SA over the past year.

  10. If you are a director of a company or member of a CC or have any trade earnings as covered in above points (in your own name and not through a separate business) then we also require the completed schedule of assets and liabilities as at year end (our template).