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Accounting Services

A business is nothing without solid, clean and up to date accounting. As part of SCA's services we offer a professional and affordable Accounting Service.

Our team will assist you with your business book keeping, financial and cash flow statements and reconciliations.

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The South Coast Advisory Group - Since 1980
 +27 31 903 4787
South Coast Advisory (PTY) Ltd

Business Tax Services

Business Tax Services Enquiry
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SCA offers the following outsourced services

Business Tax Services

Tax Services Available

SCA provides you with a fully comprehensive tax service which amongst others include the following:

Mandatory Taxes: Funding the Community

Taxes are mandatory financial charges imposed by local authorities or the National Treasury to fund various domestic and public projects and expenses. They are crucial for providing the community with essential services and infrastructure that improve their quality of life.

Legal Tax Avoidance: Optimizing Your Tax Burden

Tax avoidance refers to legally minimizing your tax burden by utilizing tax breaks and provisions provided by the legislature. We can help you navigate the tax legislation and identify legitimate opportunities to optimize your tax position while remaining compliant.

The South African Tax System: Navigating Tax Complexity

The South African tax system encompasses various tax forms that require specific handling to avoid penalties and excessive tax burdens. We have the knowledge and expertise to assist you with the following tax areas:

Personal Taxes

We offer

  • Tax planning services,
  • Assist with tax registrations,
  • Prepare and submit tax returns,
  • and ensure compliance with personal tax obligations.
Indirect Taxes

Our services cover

  • Value Added Tax (VAT) registration, returns, compliance, reviews, and assistance with South African Revenue Service (SARS) audits.
  • We also provide customs registration for import and export and assist with taxes specific to industries like cosmetics and liquor.
  • Ad Valorem and sin taxes such as are incurred in the cosmetics and liquor industries
Workmens’ Compensation Insurance.

We can help with

  • Business registration,
  • Completion of annual assessment returns,
  • And provide support with claims for employees who have sustained injuries on duty.
Business Tax

Our expertise extends to

  • Tax planning,
  • Tax registration,
  • Filing of tax returns for businesses.
  • We also provide assistance with tax clearance and overall compliance.
Employees' Unemployment Insurance

We assist with

  • Business registration,
  • Employees' registration with the Unemployment Insurance Fund,
  • Monthly returns,
  • And support with claims against the fund in cases of disaster relief.

Streamline Your Tax Management with South Coast Advisory

To simplify your tax management processes and ensure compliance with the South African tax system, we invite you to take advantage of our comprehensive tax services.

You can

  • fill out the inquiry form below,
  • or book a 20-minute discovery call with South Coast Advisory.
  • Alternatively, you can contact us directly at 031 903 478.

Let South Coast Advisory be your trusted partner in tax services. Our knowledgeable team will guide you through the complexities of tax regulations, provide personalized tax planning strategies, and ensure that your business meets its tax obligations efficiently and effectively.

Frequently Asked Questions (FAQs) about Personal Taxes in South Africa:

 

  1. What are the main types of business taxes in South Africa?
    In South Africa, businesses are typically subject to various taxes, including corporate income tax, value-added tax (VAT), payroll taxes (such as PAYE and UIF), and customs and excise duties. The specific taxes applicable to a business depend on its structure, activities, and annual turnover.
  2. When is the deadline for filing business tax returns in South Africa?
    The deadline for filing business tax returns in South Africa varies depending on the type of tax and the financial year-end of the business. For example, corporate income tax returns are generally due within 12 months from the end of the company's financial year. It's important to stay updated with the latest SARS guidelines to ensure compliance.
  3. How is VAT calculated and when should a business register for VAT?
    VAT is calculated as a percentage of the value added at each stage of the supply chain. A business must register for VAT if its taxable turnover exceeds or is expected to exceed the prescribed threshold (currently ZAR 1 million in a 12-month period). Once registered, the business must charge VAT on its taxable supplies and submit VAT returns to SARS.
  4. What are the tax implications of employing staff in South Africa?
    Employers in South Africa are required to deduct Pay-As-You-Earn (PAYE) taxes from their employees' salaries and remit them to SARS. Additionally, employers must contribute to the Unemployment Insurance Fund (UIF) on behalf of their employees. It's crucial to understand and fulfill these tax obligations to avoid penalties or legal issues.
  5. Are there any tax incentives or deductions available for businesses in South Africa?
    Yes, South Africa offers various tax incentives and deductions to promote economic growth and investment. These may include tax incentives for research and development, film production, special economic zones, and employment creation. Each incentive has specific eligibility criteria and application procedures.

Please note that tax matters can be complex, and it's advisable to consult with a qualified tax professional or contact South Coast Advisory. Our team is here to provide personalized guidance and ensure that your business meets its tax obligations effectively while maximizing available benefits and incentives.

Frequently Asked Questions (FAQs) about Personal Taxes in South Africa:

  1. What is Employees' Unemployment Insurance?
    Employees' Unemployment Insurance, also known as the Unemployment Insurance Fund (UIF), is a compulsory insurance program in South Africa that provides temporary financial assistance to employees who become unemployed, suffer reduced working hours, or are unable to work due to maternity or adoption leave.
  2. Who is required to contribute to the Employees' Unemployment Insurance Fund?
    Both employers and employees are required to contribute to the UIF. Employers must deduct a specific percentage of their employees' remuneration and contribute an equal amount from their own funds. The contributions are made monthly and are based on the employees' earnings up to a certain threshold.
  3. What is the purpose of the Employees' Unemployment Insurance Fund?
    The purpose of the UIF is to provide temporary financial relief to employees who have lost their jobs, experienced reduced working hours, or are unable to work due to specific circumstances. It aims to provide a safety net for individuals during periods of unemployment or temporary incapacity.
  4. How do employees access UIF benefits?
    Employees who become unemployed or meet the criteria for reduced working hours or temporary incapacity can apply for UIF benefits through the Department of Employment and Labour. The application process involves submitting the required documentation and meeting specific eligibility requirements. The benefits are paid directly to eligible individuals.
  5. What are the eligibility criteria for Employees' Unemployment Insurance benefits?
    To be eligible for UIF benefits, employees must meet certain criteria, including being registered contributors to the UIF, having made the required contributions, being unemployed or working reduced hours due to no fault of their own, and actively seeking employment. Maternity benefits have separate eligibility criteria for qualifying employees.

Please note that Employees Unemployment Insurance matters can be complex, and it's advisable to consult with a qualified HR professional or contact South Coast Advisory. Our team is here to provide personalized guidance and ensure that your business meets its Employees' Unemployment Insurance obligations effectively.

 

 

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