Services

The company provides the following services to the public:
Accounting
Monthly processing
We provide a comprehensive bookkeeping service. This includes all accounting entries up to trial balance level. This will provide you with timeous financial information and enable you to make informed and accurate decisions regarding your business.
Preparation of Annual Financial Statements in accordance with IFRS
We will prepare your Annual Financial Statements in accordance with IFRS which will be required by your auditor or other external parties.
Advisory services
Valuation of assets/companies
Do you want to sell or purchase an existing company? Let us do a professional valuation of your company. We also do impairment calculations on assets and goodwill.
Financial modelling
You might need to determine certain KPI’s within your company in order to make important key decisions. A standard chart of accounts might not be able to provide you with this information, resulting in incorrect assumptions or decision being made. Let us assist in analysing your business and giving you a solution that might give you an edge in the market.
Design and implementation of internal controls
Fraud and errors lead to unnecessary costs in your business and could be a result of ineffective internal controls. We will analyse the current structure that is in place and identify any enhancements that could be made.
Payroll
Monthly processing and filing
Staying up to date with legislation regarding employee taxes and fringe benefits could be challenging. Let us manage your payroll function. We have the required skills and knowledge and will worry about meeting the statutory deadlines and filing monthly and annual returns.
Secretarial
Secretarial
We will register your company with CIPC, file annual returns and maintain registered details of your company. We also provide shelf companies, which already has a VAT number and bank account.
Tax
Income tax
If you are an individual tax payer, we will provide you with updated advice about allowed expenditure to minimise your tax liability.

We will do your company’s tax computation which is used to file your tax return and compile the necessary tax schedules which might be requested by SARS. This includes deferred tax calculation and entries.

Provisional tax
You run the risk of paying unnecessary penalties and interest for non-compliance. We will do your provisional tax calculations and file required returns.
VAT
We will assist with your VAT registration and preparation and filing of your VAT 201’s. This includes a monthly recon to your TB, in order to minimise the burden of completing an IT14SD if required by SARS.
Objections, appeals and tax clearance certificates
A taxpayer is allowed to object against an assessment issued or decision made by SARS. You can also appeal to SARS if an objection is disallowed in part or full. Let us draft the correspondence and deal with SARS on your behalf. We will also obtain a tax clearance certificate for your business.
Dividends tax
We will complete and file these returns on your behalf.

Tax Rates

Small Business Corporation

Small Business Corporation

Requirements:

  • CC, Pty or Co-Operative
  • All members/shareholders throughout the year of assessment are natural persons who do not hold shares in any other private companies or members’ interests in any other cc’s, other than those which:
    • are inactive and have assets of less than R5,000 or
    • have taken step to liquidate, wind up or deregister (effective for years of assessment commening on or after 1 January 2011).
  • Gross income for the year of assessment does not exceed R20m (2013:R14M).
  • Not more than 20% of gross accruals (income and all the capital gains) consist collectively of investment income and income from
    rendering a personal service. (If entity employs 3 or more unconnected full-time employees for core operations throughout  the year, it will not be a personal service company regardless of the services provided).
  • The entity is not an employment entity.
Period Type Min Max Tax Amount Tax %
1 April 2012 – 31 March 2013 Small Business Corporation 63 556,00 0%
1 April 2012 – 31 March 2013 Small Business Corporation 63 557,00 350 000,00 7%
1 April 2012 – 31 March 2013 Small Business Corporation 350 000,00 20 051,00 28%
1 April 2013 – 31 March 2014 Small Business Corporation 67 111,00 0%
1 April 2013 – 31 March 2014 Small Business Corporation 67 112,00 365 000,00 7%
1 April 2013 – 31 March 2014 Small Business Corporation 365 001,00 550 000,00 20 852,00 21%
1 April 2013 – 31 March 2014 Small Business Corporation 550 000,00 59 702,00 28%
1 April 2014 – 31 March 2015 Small Business Corporation 70 700,00 0%
1 April 2014 – 31 March 2015 Small Business Corporation 70 701,00 365 000,00 7%
1 April 2014 – 31 March 2015 Small Business Corporation 365 001,00 550 000,00 20 601,00 21%
1 April 2014 – 31 March 2015 Small Business Corporation 550 000,00 59 451,00 28%
1 April 2015 – 31 March 2016 Small Business Corporation 73 650,00 0%
1 April 2015 – 31 March 2016 Small Business Corporation 73 651,00 365 000,00 7%
1 April 2015 – 31 March 2016 Small Business Corporation 365 001,00 550 000,00 20 395,00 21%
1 April 2015 – 31 March 2016 Small Business Corporation 550 000,00 59 245,00 28%
Individual Tax

Individual Tax Rates & Rebates

An individual’s tax liability will be calculated using the tables below:

Year Type Min Max Tax Amount Tax%
2011 Individual 140 000,00 18%
2011 Individual 140 001,00 221 000,00 25 200,00 25%
2011 Individual 221 001,00 305 000,00 45 450,00 30%
2011 Individual 305 001,00 431 000,00 70 650,00 35%
2011 Individual 431 001,00 552 000,00 114 750,00 38%
2011 Individual 552 001,00 160 730,00 40%
2012 Individual 150 000,00 18%
2012 Individual 150 001,00 235 000,00 27 000,00 25%
2012 Individual 235 001,00 325 000,00 48 250,00 30%
2012 Individual 325 001,00 455 000,00 75 250,00 35%
2012 Individual 455 001,00 580 000,00 120 750,00 38%
2012 Individual 580 001,00 168 250,00 40%
2013 Individual 160 000,00 18%
2013 Individual 160 001,00 250 000,00 28 800,00 25%
2013 Individual 250 001,00 346 000,00 51 300,00 30%
2013 Individual 346 001,00 484 000,00 80 100,00 35%
2013 Individual 484 001,00 617 000,00 128 400,00 38%
2013 Individual 617 001,00 178 940,00 40%
2014 Individual 165 600,00 18%
2014 Individual 165 001,00 258 750,00 29 808,00 25%
2014 Individual 258 751,00 358 110,00 53 096,00 30%
2014 Individual 358 111,00 500 940,00 82 904,00 35%
2014 Individual 500 941,00 638 600,00 132 894,00 38%
2014 Individual 638 601,00 185 205,00 40%
2015 Individual 174 550,00 18%
2015 Individual 174 551,00 272 700,00 31 419,00 25%
2015 Individual 272 701,00 377 450,00 55 957,00 30%
2015 Individual 377 451,00 528 000,00 87 382,00 35%
2015 Individual 528 001,00 673 100,00 140 074,00 38%
2015 Individual 673 101,00 195 212,00 40%
2016 Individual 181 900,00 18%
2016 Individual 181 901,00 284 100,00 32 742,00 26%
2016 Individual 284 101,00 393 200,00 59 314,00 31%
2016 Individual 393 201,00 550 100,00 93 135,00 36%
2016 Individual 550 101,00 701 300,00 149 619,00 39%
2016 Individual 701 301,00 208 587,00 41%
Year Type Primary Rebate 65 years and older 75 years and older
2011 Individual 10 260,00 15 935,00 15 935,00
2012 Individual 10 755,00 16 767,00 18 767,00
2013 Individual 11 440,00 17 830,00 19 960,00
2014 Individual 12 080,00 18 830,00 21 080,00
2015 Individual 12 726,00 19 836,00 22 203,00
2016 Individual 13 257,00 20 664 23 130,00
Interest Exemptions

Individual Interest Exemptions

Interest from a South African source earned by a natural person is exempt up to the amounts listed below

Year Type Interest Exemption under 65 Interest Exemption over 65
2012 Individual 22 800,00 33 000,00
2013 Individual 22 800,00 33 000,00
2014 Individual 23 800,00 34 500,00
2015 Individual 23 800,00 34 500,00
2016 Individual 23 800,00 34 500,00
Medical Scheme Tax Credit

Medical Scheme Fees Tax Credit

This is a rebate which reduces the tax liability of an individual. The rebate is non-refundable and can’t be carried over to the next year of assessment.

Members Year Type Tax Credit/Month
1 2014 Medical Scheme Tax Credit 242,00
2 2014 Medical Scheme Tax Credit 484,00
2 2014 Medical Scheme Tax Credit 484,00
3 2014 Medical Scheme Tax Credit 646,00
4 2014 Medical Scheme Tax Credit 808,00
5 2014 Medical Scheme Tax Credit 970,00
6 2014 Medical Scheme Tax Credit 1 132,00
7 2014 Medical Scheme Tax Credit 1 294,00
1 2015 Medical Scheme Tax Credit 257,00
2 2015 Medical Scheme Tax Credit 514,00
3 2015 Medical Scheme Tax Credit 686,00
4 2015 Medical Scheme Tax Credit 858,00
5 2015 Medical Scheme Tax Credit 1 030,00
6 2015 Medical Scheme Tax Credit 1 202,00
7 2015 Medical Scheme Tax Credit 1 374,00
1 2016 Medical Scheme Tax Credit 270,00
2 2016 Medical Scheme Tax Credit 540,00
3 2016 Medical Scheme Tax Credit 721,00
4 2016 Medical Scheme Tax Credit 902,00
5 2016 Medical Scheme Tax Credit 1083,00
6 2016 Medical Scheme Tax Credit 1 264,00
7 2016 Medical Scheme Tax Credit 1 445,00
Micro Business

Micro Business

Requirements

  • Sole Proprietor, Partnership & Inc.
  • Turnover less than R1m p.a.
  • Taxpayer has to register at SARS and for years commencing after 1 March 2012, taxpayer can voluntarily exit the system at the end of any year of assessment, but will then not be permitted to re-enter.
  • Personal services providers and certain professional services are excluded from this system.
Period Type Min Max Tax Amount Tax %
1 April 2012 – 31 March 2013 Micro Business – Turnover Tax 63 556,00 0%
1 April 2012 – 31 March 2013 Micro Business – Turnover Tax 63 557,00 350 000,00 7%
1 April 2012 – 31 March 2013 Micro Business – Turnover Tax 350 000,00 20 051,00 28%
1 April 2013 – 31 March 2014 Micro Business – Turnover Tax 67 111,00 0%
1 April 2013 – 31 March 2014 Micro Business – Turnover Tax 67 112,00 365 000,00 7%
1 April 2013 – 31 March 2014 Micro Business – Turnover Tax 365 001,00 550 000,00 20 852,00 21%
1 April 2013 – 31 March 2014 Micro Business – Turnover Tax 550 000,00 59 702,00 28%
1 April 2014 – 31 March 2015 Micro Business – Turnover Tax 150 000,00 0%
1 April 2014 – 31 March 2015 Micro Business – Turnover Tax 150 001,00 300 000,00 1%
1 April 2014 – 31 March 2015 Micro Business – Turnover Tax 300 001,00 500 000,00 1 500,00 2%
1 April 2014 – 31 March 2015 Micro Business – Turnover Tax 500 001,00 750 000,00 5 500,00 4%
1 April 2014 – 31 March 2015 Micro Business – Turnover Tax 750 001,00 1000 000,00 15 500,00 6%
1 April 2015 – 31 March 2016 Micro Business – Turnover Tax 335 000,00 0%
1 April 2015 – 31 March 2016 Micro Business – Turnover Tax 335 001,00 500 000,00 1%
1 April 2015 – 31 March 2016 Micro Business – Turnover Tax 500 001,00 750 000,00 1 650,00 2%
1 April 2015 – 31 March 2016 Micro Business – Turnover Tax 750 001,00 1000 000,00 6 650,00 3%