Corporate Tax
Bean Accounting can assist in completing and submitting the following returns directly to SARS on your behalf to ensure you as an individual as well as your company remain tax compliant avoiding penalties and further legal battles.
IRP6 - COMPANY
IRP Compilation and Submission- First Provisional Tax Return (due 6 months after the financial year commences); Second Provisional Tax Return (due by the end of the financial years 12 month period)
ITR14 - MICRO
For Companies with an annual turnover of 1 million Rand and Registered with CIPC- The ITR14 Return (due 12 months after year end)
IRP14 - DORMANT COMPANY
For Company's that have not traded during the year or assessment and are registered with CIPC- The ITR14 Return (due 12 months after year end)
ITR14 - SMALL
For Companies with an annual turnover up to 10 million and Registered with CIPC- The ITR14 Return (due 12 months after year end)
EMP201
Compilation and Submission- EMP201's are to be submitted to SARS on a monthly basis before the 7th of the new month (provided the 7th falls on a business day)
EMP501
Compilation and Submission- EMP501's are due mid-year and final EMP501's are due following February each year.
TAX CLEARANCE
SARS Tax Clearance Pin- Tax Compliance Status (TCS) required for: good standing, Tenders, FIA (Foreign Investment Allowance) (individuals only), Emigration
DIVIDENDS TAX
Withholding Tax- Withheld and paid to SARS by the company paying the dividend at a Rate of 20%
Individual Tax
IR12 - BASE
Basic Salary, No Medical Aid, Retirement Annuity, Allowances or Other Income- IRP5 Deductions Salary
- IRP5 and IT3a's
- Pension
- Salaried Income
- Non-Taxable Amounts
- Unemployed Periods
TAX CLEARANCE CERTIFICATE
SARS Tax Clearance Certification (Per Certificate)- Tax Compliance Status (TCS) required for: Good standing Emigration
IT12 - MED
Salary together with Medical Aid, Retirement Annuity Funds, Allowances, Donations, Capital Gains- Salary / IRP5 / IT3a
- IRP5 Deductions
- Travel Allowance & Employer Provided Vehicles
- Medical Aid Contributions / Credits
- Retirement Annuity Fund Contributions / Pension Fund Income
- Capital Gains/Losses
- Balance Sheet - Assets & Liabilities
- Interest & Investments IT3b
- Non-taxable Income
- Other Income Amounts
- Tax Free Savings
- Unemployed Periods
- S18A / Non-S18A Donations
IT12 - FULL
Comprehensive Tax Return encompassing commission, sole proprietors, independent contractors, rental and foreign income earners.- Self Employed/Independent Contractor/Freelancer / Rental Income / Partnerships / IRP5 / IT3a
- IRP5 Deductions
- Travel Allowance & Employer Provided Vehicles
- Medical Aid Contributions / Credits
- Retirement Annuity Fund Contributions / Pension Fund Income
- Capital Gains/Losses
- Balance Sheet - Assets & Liabilities
- Interest & Investments IT3b
- Non-taxable Income
- Other Income Amounts
- Tax Free Savings
- Unemployed Periods
- S18A / Non-S18A Donations
- Foreign Employment and Taxes Paid
- Commission Earners
- Trust Income
IRP6 - INDIVIDUAL
Provisional Tax- Provisional Tax This return needs to be submitted B-Annually (Twice per Year)
TRUST TAXATION
Trust Accounting and Administration- Trusts (excluding Special Trusts) are currently taxed at a rate of 45%