We assist individuals, sole proprietors and businesses to ensure all tax deadlines are met accurately and ensure you do not pay more tax than you should. Submissions are done on time to avoid penalties.
We specialise in professional services for :-
Personal Income Tax Services
- Individual Tax Return on Efiling
- Provisional Tax Return on Efiling
- VAT submissions to SARS
- Payroll
- UIF Electronic declaration to Department Of Labour
- EMP 201 monthly submissions to SARS
- EMP 501 Bi annual submissions to SARS
- Coida annual submissions
- Efiling registration
- Tax Clearance Certificate
- CIPC annual sumissions/Director’s amendments
- CIPC Beneficial Ownership submission
Small Business Corporations
- Small Business Company Tax
- Small Business Provisional Tax Return
- VAT submissions to SARS
- Payroll
- Uif Electronic declarations to Department of Labour
- EMP 201 monthly submissions to SARS
- EMP 501 Bi annual submissions to SARS
- Coida annual submissions
- Small Business Annual Financial Statements
- CIPC annual submissions/Director’s amendments
- CIPC Beneficial Ownership submission
Trust Tax
- Trust Tax Returns on Efiling
- Trust Provisional Tax Returns on Efiling
How to get started
- 1.Schedule a appointment email cowanbks@telkomsa.net
- 2.Email us your tax certificates/documents
- 3.Tax Returns are filed and we communicate with Sars
We have 20 years of experience and focused on making the process as easy as possible.
SARS (South African Revenue Services)
Income Tax – Business – A registered business pays Income Tax on the profit derived in one financial year.
The deadline for tax submission is 31 January.
Income Tax – Individual – Income Tax is paid based on annual income/remuneration,Director’s salary-less deductions ie medical aid, retirement annuity, travel allowance, and other allowances
The deadline for tax submision is 21 Oct for salaried individuals and 31 January for provisional tax payers.
PAYE – This is a monthly tax deducted from the salary of an employee and the amount of PAYE is determined by your gross income.
UIF – This is an unemployment Insurance Fund that is deducted from the employee’s salary, 1% of gross salary is paid by the Employee, and 1% of gross salary is paid by Employer, and the Department of Labour gets 2% of the gross salary.
SDL – Skills Development Levy- This levy was imposed to encourage learning and development, and the amount that the Employer pays is 1% of total monthly gross employee salaries.
The employer needs to register for SDL once the annual payroll is over R500 000,00 per annum.
The PAYE and UIF have to be paid over to SARS by the 7th of every month by using SARS e-filing which is electronic submission. Payments can also be made using e-filing, the payment instruction is sent to the bank, then the Employer logs into the bank and releases the payment.
VAT – To be registered with VAT, the business’s annual turnover must be over 2,3 million (VAT is then compulsory).
VAT – Voluntary registration is usually done when a business needs a VAT number to apply for tenders or contracts. Turnover has to be over R120 000-00 per annum
WCA
The Workman’s compensation fund act was passed in 1914, and it covers permanent, casual, trainees & apprentices who are injured or contract the disease in the course of their work and lose income as a result.
ELECTRONIC UIF DECLARATIONS
The UIF will be done on a computerised program and sent electronically to Department Of Labour
This is more effective than emailing the UI-19 forms and then not knowing if the forms were successfully processed by the Department of Labour.
IRP5’s
All employers are required to submit all their employee’s annual gross salary amounts, the PAYE & UIF deducted from their salary
This is done on an IRP5 and gets submitted to SARS every 6 months.
March-August to be submitted by 31 Oct – Bi-Annual Submission.
March – Feb to be submitted by 31 May- Total 12 Month submission.
IRP5s can be done on Easy file (SARS Program) or Efiling.
Services are offered to clients throughout South Africa
Cell: 082 054 0009
Email: cowanbks@telkomsa.net
OR
Click on the “Contact Us” button at the top of the page.