We will need the following:
Signed off copy of your financial statements
Your e filing login details, if you are not registered we will register you
Proof of payment – we will give you a quote!
If you don't have signed off financial statements we would have to compile this in terms of the Companies Act, after which we can file your company tax return.
For this we would require:
If a computerized system was used, PDF copies of:
Income statement
Balance sheet
Trial Balance
General ledger
Previous year's financial statement
February bank statement - last month of the financial year
Copy of the registration certificate
If we require additional info we will inform you
If a manual system was used, PDF schedules of:
all income/sales for the year
Business expenses (e.g. bank costs, interest payments, stationery, insurance, rent, wages, fuel, etc)
Salaries and wages paid to employees, members and/or directors - summary for the year
PAYE & UIF deductions from salaries - summary for the year
Any other expenses that you may think is relevant
Assets owned by the business on the first and last day of the financial year - including debtors, loan receivable, vehicles, furniture, tools, and any other assets you might think is relevant
Liabilities owed by the business on the first and last day of the financial year –creditors, any unpaid taxes, tax certificates from finance companies for financed assets, loans from banks and other parties, movements in loan accounts, and any other liabilities
Copy of the registration certificate
If we require additional info we will inform you
The normal tax rates for companies is 28% and is levied on the nett profit of the company.
However, if you meet the requirements of a small business corporation you will be taxed at the following rates:
The Small business corporation tax rates for financial years ending between 1 April 2018 and 31 March 2019
Taxable income Tax rate
R 0 - R 78,150 - No income tax payable
R 78,150 - R 365,000 - 7% of taxable income above R 78,150
R 365,001 - R 550,000 - R 20,080 + 21% of taxable income above R 365,000
Above R 550,000 - R 598,930 + 28% of taxable income above R 550,000
Above R 550,000 - R 59,451 + 28% of taxable income above R 550,000
To see if you qualify download the guide here!
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