IRP5/IT3

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Cecil Kilpin | April 2024 Newsletter

By |2024-04-18T12:12:59+02:00April 18th, 2024|Accounting, Business, Environmental, Finance + Economics, Newsletter, Tax|

Employer Annual Declarations (EMP501): 1 April to 31 May 2024. As an employer, it’s essential to stay informed about your tax obligations. The Employer Annual Declaration period is a crucial time when you need to submit accurate information to the South African Revenue Service (SARS). Let’s dive into the details: What is the Employer Annual Declaration (EMP501)? The EMP501 is an annual reconciliation declaration that employers must submit. It provides SARS with up-to-date payroll information about their employees. During this period, employers review their records, ensure accuracy, and report the necessary details. Key Dates: Opening Date: The Employer Annual Declaration period opens on 1 April 2024 Closing Date: Employers have until 31 May 2024 to complete and submit their [...]

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Cecil Kilpin | July 2017 Newsletter

By |2022-01-21T11:20:54+02:00July 6th, 2017|Tax|

Tax Season 2017 Now Open Tax Season 2017 officially opened on Saturday, 1 July 2017 for eFilers. To assist you we have prepared some helpful information below. Not everyone needs to file an income tax return. Taxpayers do not have to submit an income tax return if: Their total salary for the year before tax is not more than R350 000 They only receive employment income from one employer for the full year of assessment They have no other form of income They don’t have any additional allowable tax deductions to claim Ensure that you have all your documents ready: Proof of income such as: IRP5/IT3(a) from your employer or pension fund Tax certificates for investment income IT3(b) Tax Free Investments certificate(s) IT3(s) Financial statements [...]

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