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Discover: 13 Tax and Vat Solutions for busy Tax payers‌


Discover 13 Tax and Vat Solutions for busy Tax payers 7 Tax Solutions 1. 2. 3. 4. 5. 6. 7.

Must a director register for provisional tax if his income isnʼt subject to PAYE? What is the tax liability for the sole director and shareholder of a company? Can I submit my clients MOI amendment to CIPC or do I have to go to them in person? How do I tax a perk valued at R2 499? Must a CC declare 28% on their profit and then claim dividends? Is there a tax concession for my client who bought a building for business purposes? Is it legal if one company buys another companyʼs assessed loss?

6 Vat Solutions 1. 2. 3. 4. 5. 6.

Can a buying group buy goods at a zero-rate? Can I claim Vat on air tickets? Vat liability for Estate Agents, what’s the Vat implications? Must we pay Vat on property rates? Vat on Government grant invoices Can I claim Vat back on my car rental expenses?

Tax question 1: Must a director register for provisional tax if his income isnʼt subject to PAYE? Question: If a company director’s income isn’t subject to PAYE, does he still have to register for provisional tax and submit a zero return? Answer: Taxpayers don’t need to be a provisional taxpayer by virtue of holding directorship. As you've indicated none of his income is subject to PAYE. Only if the director earns income other than remuneration or carries on a trade (e.g. renting out a property) or earns interest above R20 000 will he need to register. Tax question 2: What is the tax liability for the sole director and shareholder of a company? Question: What would be the tax liability (please calculate) based on the info given below. 1. Sole director and shareholder (A) of Pty Ltd Company (B) has Authorised and Issued Share Capital of 100 shares @ R1 each = R100. 2. A has sold 35% of his shares to person (C) for R400 000 so the net Capital Gain is R399 965 for tax year-end 2012/2013…. If you want to receive the full FREE report – Discover 13 Tax and Vat Solutions for busy Tax payers, simply subscribe to the AccountingPortal.co.za newsletter! Discover 13 Tax and Vat Solutions for busy Tax Payers

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13 Tax and Vat Solutions for busy Tax payers