TO PAY OR NOT TO PAY TAX... THAT IS THE QUESTION:

If you earn less that R6,316.00 per month you will not be liable for tax, only UIF (Unemployment Insurance Fund).

TAX 101 :)

The definition of tax is: a compulsory constitution to state revenue levied by the government on workers’ income and business profits, or added to the cost of some goods, services, and transactions. 

What stands out in the definition is that tax is compulsory for everyone (individuals and businesses) AND that the tax you are paying every month which we call PAYE (Pay As You Earn) is not the only tax that we pay. There are also indirect taxes such as VAT (Value Added Tax) that we pay on products and services. 

Because tax affects everyone and because we cannot get away from tax, and also that the tax legislation changes ever so often, tax is always in the news and always on everyone's’ lips.  Be informed and keep up to date on the topics because a big amount of your salary goes towards this compulsory expense, nl. tax. Tax is a hot topic, so be a part of it.

Just a reminder that the annual tax return submission due date is 24 November 2017 if you are NOT a provisional taxpayer. If you are, relax, your submission due date is at the end of January 2018.

(A FOOL AND HIS MONEY ARE SOON PARTED. THE REST OF US WAIT UNTIL INCOME TAX TIME)

Visit back soon for all you need to know about being TAX Compliant or get in touch!