Tax

Solutions For Small To Medium Sized Businesses

SMME Starter is experienced in the managing of all tax matters for SMMEs. We ensure that your company is Tax Compliant with SARS. Most businesses are registered for the following tax types:

Income Tax:

Companies come already registered by SARS. If you can not find your tax number, you can call SARS to try and retrieve it, Alternatively, we can retrieve it for you should you not remember all the answers to questions that SARS may ask. If you would like your tax number sent to you,  click here.

If you would like to register yourself or your employees for income tax, please click here

Provisional Tax

In order to reduce the amount of income tax payable at the end of the period and for SARS cash flow, SARS requires companies to do 2 provisional tax payments. At the beginning of the financial year, the 1st provisional tax payment which is half the estimated tax payable at end of period. In August are required to make another assessment of their expected tax payable and subtract already paid from 1st provisional tax, and pay balance to SARS.

VAT 

Value Added Tax (VAT) is currently levied at 15%. When your turnover reaches 1million, you are obligated to register. You can voluntary register before you reach the R1million mark. Companies may opt to register voluntarily as some companies only trade with VAT registered companies only. Once registered, the company is supposed to do VAT returns every two months. The VAT return is a reconciliation of VAT paid to suppliers and VAT  collected from customers. If you have bought more than you have sold, then you will be liable for a refund provided you bought from other VAT vendors.

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PAYE

If you have an employee that earns above R5500, then you are obligated to register for Pay As You Earn Tax. You are to withold the PAYE portion of their salary and pay it over to SARS every month by the 7th.

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