Category Archives: Tax

CA On The Way Posted on by

What is company tax in South Africa?

Income tax is a tax levied on all income and profit received by a taxpayer (which includes individuals, companies and trusts). … The form of tax that people generally associate with the concept of income tax is “normal” income tax.

How is company tax calculated?

This is a complicated question as the provisions of the tax act have to be applied and adhered to, this is the reason that a skilled individual who understands the provisions of the income tax act should determine your tax computation.

CA On The Way Posted on by

<h3 class=”faq-title”>When must I file my 2018 tax return?</h3>

For individuals the ability to submit your return commenced on the 1st of July 2018 and has to be completed by the following dates:

  • Manual submission – 21 September 2018
  • E-filing non-provisional tax payers – 31 October 2018
  • E-filing for provisional tax payers – 31 January 2019

 

All companies have to complete their return’s within 12 months after year-end.

CA On The Way Posted on by

How much do you have to earn to submit a tax return in South Africa?

You do not need to submit a return if ALL the criteria below apply to you:

  • Your total employment income / salary for the year (March 2017 to February 2018) before tax (gross income) was not more than R350 000; and
  • You only received employment income / salary for the full year of assessment (March 2017 to February 2018) from one employer; and
  • You have no car allowance/company car/ travel allowance or other income (e.g. interest or rental income); and
  • You are not claiming tax related deductions/rebates (e.g. medical expenses, retirement annuity contributions other than pension contributions made by your employer, travel).