Frequently asked questions and answers

We compiled a list of frequently asked questions that we get all the time. We thought it well to share these questions and answers with our inquisitive website visitors. If we missed something please contact us with your question.

An IRP6 is a return for payment of provisional tax.

No SARS won’t. Money should be invested with an approved retirement fund.

This is due to the manner your respective employers are calculating your tax liability on assessment.

SARS is responsible for collecting Estate Duty.

Yes-profits are taxed by SARS, at a rate of 45%.

  1. When you conduct any trade (own business) in South Africa.
  2. If you’re a South African tax resident who conducted any trade.
  3. If you received an allowance such as a travel, subsistence or office bearer allowance. (Check your IRP5/IT3(a) if you are unsure.
  4. If you hold any funds in foreign currency or assets outside South Africa that have a combined total value of more than R225 000 at any stage during the tax year.
  5. If you have Capital Gains or Capital Losses exceeding R40 000.
  6. If you had any income or Capital Gain from funds in foreign currency or assets outside the Republic attributed to you.
  7. If you hold any rights in a Controlled Foreign Company.
  8. If you’ve received an Income Tax Return or if you were asked to submit an Income Tax Return for the tax year.
  1. Office Supplies
  2. Insurance Fees
  3. Legal Fees
  4. Phone Costs
  5. Promotion Costs
  1. Include VAT in all prices
  2. Charge and collect VAT
  3. Submit Returns and Payments
  4. Issue Tax Invoices
  5. Maintain Adequate Records
  1. Declare CIT annually on an ITR14
  2. Register for VAT if you qualify
  3. Register for PAYE if you qualify
  4. Pay taxes on time always

Submit once a year as per company’s Financial Year End and make use of the ITR14 form.

Submit once a year as announced by SARS during filing season and make use of the ITR12 form.

Submit monthly on or before the 7th and make use of the EMP201 form.

Submit twice a year and make use of the IRP6 form.

Submit every two months before the 25th and make use of the VAT201 form.

  1. Call the SARS contact Centre and request a statement of account.
  2. Login to eFiling and request a statement of account.
  3. Login to SARS Mobi App and request a statment of account.
  4. Call WvdW and we’ll help.

SDL are due by employers who are registered and whose total employee salaries are more than R500 000 a year.

All companies and Close Corporations are required by law to lodge their annual returns with CIPC.

The Home Office must be occupied for purposes of a trade. Legal requirements have not changed for claiming a home office expenses deduction. Salaried Employees can claim if they worked from home and meet the Income Tax Act requirements.

  1. Income Tax
  2. Capital Gains Tax
  3. Estate Duty

A deceased Estate will be finalised when all your Tax Affairs have been fully settled with SARS.

  1. Living (Inter Vivos) Trust
  2. Testamentary (Mortis Causa) Trust
  3. Business Trust
  1. It reduces Capital Gains Tax
  2. There are no Estate or Transfer Duties
  3. Your assests are protected from creditors

Anyone who pays tax can be selected for a SARS Audit.

  1. Income Tax Audits
  2. VAT
  3. Employees Tax Audits
  4. Capital Gains Tax Audits
  5. Dispute Resolution Hearings
  6. Appeals to the Tax Board | Court