Tax Season 2022 Personal Income Tax, What is it? Income tax is the normal tax which is paid on your taxable income. Examples of amounts an individual may receive, and from which the taxable income is determined, include – Remuneration (income from employment), such as, salaries, wages, bonuses, overtime pay, taxable (fringe) benefits, allowances and certain lump sum benefits Profits or losses from a business or trade Income or profits arising from an individual being a benefi
PROVISIONAL TAX – 2nd RETURN AND INSTALMENT FOR THE 2021 TAX YEAR END Please be aware that the tax year 2021 second provisional tax return is due and payable by 28 February 2021. If you have not yet provided us with the supporting documents per the attached explanation, please do so at your earliest convenience. What is provisional tax?
Provisional tax is not a separate tax. It is a method of paying tax due, to ensure the taxpayer does not pay large amounts on assessment, a
Many of us have a tendency for procrastinating. We want to get the job done but not until the deadline is upon us. This seems to be the case for millions of us during Tax Season. Let us do our best to prevent heartburn and indigestion… or worse. Taxpayers, both individuals and businesses, are required to be fully tax compliant through on time submission of returns and payments, to avoid penalties and interest being charged. IMPORTANT!! If the submission date falls on a weeken
Maintaining a healthy small business is at the best of times stressful. An all too common problem small business owners unwittingly perpetuate is mixing and matching business and personal transactions through a common bank account, which ends up being a nightmare when trying to re-construct and determine who is who in the zoo. The following information could help keep your business finances in order: Make a commitment: Commit to get your finances in order and be prepared to f