We offer a comprehensive range of property tax advice. You will pay no capital gains tax when you sell your family home as long as it has been used for the entire period of ownership, as your private residence and your profit over the period owned does not exceed R1.25 Million. But what do you do if you either have, or are considering the purchase of, a second home?
We can provide you with advice regarding all tax aspects of buying, selling and letting property.
If you are about to invest in, dispose of, or let property then please speak to us.
PAYE submissions and payroll structuring PAYE and payroll responsibilities are not as simple as reading the tax due on a tax table and submitting EMP201 and EMP501 returns anymore. SARS no longer print the EMP10 manuals and with the ever changing medical aid benefits and allowances, PAYE is no longer simple income less expenditure calculation.
Although SARS have developed an award winning software application in E@syFile, those that have used the program without detailed tax knowledge know the frustration of trying to balance recons and determine error messages for simple issues like apostrophes in names or missing banking details and income tax numbers for employees.
Furthermore, SARS have placed the burden of responsibility on employers to now ensure the id numbers, tax numbers, addresses and contact info for their permanent and temporary employees and the penalties for said incorrect or missing information can amount to 10% of your annual PAYE liability!
Simpletax is a certified payroll administrator and offers detailed advice on income structuring, advice on taxable deductions, fringe benefits, as well as HR and employment equity advice. We also offer payroll administration services to completely take the weigh off your shoulders and let you get on with running your business.