Personal Tax Services

Why is Your Personal Tax Important?

For many, tax season brings a cloud of confusion and dread. But what if it didn't have to? At Esti MaGuire Tax & Accounting, we believe your personal tax compliance shouldn't be a source of stress, but rather a foundation for your financial peace of mind. Why risk penalties and legal action when you can have accurate, timeous, and professional tax management?

 

We understand the unique complexities faced by individual taxpayers in South Africa – from balancing multiple income streams to navigating foreign income, or even understanding the tax implications of your new crypto investments. Based in Gqeberha (Port Elizabeth), we proudly extend our trusted services to individuals across the entire country, ensuring your financial security and compliance with SARS.

Don't let tax complexities hold you back.

Your Trusted Partner for Personal Tax Compliance in South Africa

Esti MaGuire Tax & Accounting provides professional and efficient tax services specifically designed for your individual needs, ensuring accuracy and peace of mind.

 

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Comprehensive Income Tax Preparation & Submission

We take the guesswork out of your annual tax return. Our meticulous service ensures all your income and deductions are correctly accounted for, preventing errors and maximising your legitimate refunds.

  • Salaried Individuals: From your basic PAYE to medical aid and retirement contributions, we ensure your ITR12 is perfectly aligned.
  • Commission Earners: We understand the nuances of commission-based income and ensure all deductible expenses are correctly claimed.
  • Foreign Income Earners: Navigating international tax regulations can be tricky. We guide you through the complexities of declaring foreign income to SARS, ensuring compliance and avoiding double taxation where applicable.
  • Sole Proprietors: While operating as a business, your income is declared via your personal income tax return. We ensure your business income and expenses are accurately reflected.

Effortless Provisional Tax Management

If you earn income beyond a standard salary, you're likely a provisional taxpayer. We simplify this process by accurately calculating and submitting your provisional tax returns (IRP6), helping you manage your tax obligations throughout the year and avoid unexpected year-end bills or underpayment penalties.

Simplified E-Filing & SARS Registration

New to tax? Or simply prefer professional handling? We assist you with your Income Tax Registration on E-filing and accurately complete and submit your Income Tax returns via e-filing. We make the entire process seamless and secure, from initial registration to final submission.

Skilled Handling of Tax Audits, Arrears & Disputes

Receiving a letter from SARS about an audit, arrears, or a penalty can be intimidating. We act as your dedicated representative, managing your tax audits, addressing arrears, contesting penalties, and handling objections and disputes with SARS, always striving for the most favourable outcome for you.

Capital Gains Tax (CGT) Guidance for Individuals

Planning to sell property, shares, or other significant assets? Understanding Capital Gains Tax implications is crucial. We offer comprehensive CGT services to individuals:

  • Accurate CGT Calculations: We precisely calculate your capital gains or losses.
  • Implication Determination: We explain how CGT impacts your specific disposals.
  • Tailored CGT Advice: We provide guidance to help you navigate CGT regulations and make informed financial decisions.

Tax Clearance Certificates for Good Standing

Need proof of your good tax standing for visa applications, financial aid, or other personal requirements? We assist in efficiently obtaining your Tax Clearance Certificate, demonstrating your compliance with SARS.

Crypto Currency Tax Advice & Submission for Individuals

The world of digital assets is exciting, and its tax implications are evolving. We offer specialized crypto currency tax submission and guidance for individual investors and traders in South Africa. From understanding your cost basis to declaring gains or losses, we ensure your crypto holdings are compliant with SARS regulations.

Why Choose Esti MaGuire Tax & Accounting for Your Personal Finances?

Your financial peace of mind is our priority.

With Esti MaGuire Tax & Accounting, you gain more than just a tax preparer; you gain a trusted advisor dedicated to your individual well-being.

Personalised Attention:

We understand that every individual's financial situation is unique, offering tailored solutions.

Stress-Free Compliance:

We take the burden of tax off your shoulders, ensuring accurate and timeous submissions.

Proactive Advice:

Beyond compliance, we offer insights to help you manage your personal tax effectively.

Nationwide Service:

Based in Gqeberha, we seamlessly serve individuals across all nine provinces of South Africa.

Confidential & Secure:

Your financial information is handled with the utmost discretion and security.

Trusted Partnership:

We aim to build long-term relationships based on clear communication and demonstrable value.

Frequently Asked Questions (FAQs)

for Individual Tax Services

Do I need to submit an income tax return in South Africa if I only earn a salary?

Not always. If you meet certain criteria, such as earning below a specific threshold (e.g., in recent tax years, below R500,000 from a single employer with no other income sources and no medical aid/retirement fund contributions that are not PAYE-deducted), you may not be required to submit. However, it's often beneficial to submit if you have deductions to claim (like medical expenses not covered by your employer, or retirement annuity contributions) or if you want to ensure your tax affairs are fully reconciled. It's always best to check with SARS or a tax professional.

What is provisional tax, and how do I know if I'm a provisional taxpayer as an individual?

Provisional tax is a way for SARS to collect income tax on earnings that aren't subject to PAYE (Pay As You Earn) deductions, like rental income, business profits (if you're a sole proprietor), or investment income. You are generally considered a provisional taxpayer if you earn taxable income that is not remuneration (e.g., from employment) or if you earn remuneration as an independent contractor. Even if you're employed, significant additional income might make you a provisional taxpayer. We can help you determine your status.

How does Capital Gains Tax (CGT) affect me if I sell my property or shares?

If you sell a primary residence, there's a significant exclusion on the capital gain (currently R2 million), meaning if your profit is below this, no CGT applies. For other properties or shares, any profit made from the sale (capital gain) is added to your taxable income for the year, and a portion of it is then taxed at your marginal income tax rate. It's a complex area, and accurate calculations are crucial to avoid overpaying.

Can Esti MaGuire Tax & Accounting help me if SARS has flagged my tax account or I owe them money?

Absolutely. We specialize in assisting individuals with SARS audits, managing tax arrears, disputing penalties, and handling objections. It's crucial not to ignore correspondence from SARS. We can act as your representative, communicate with SARS on your behalf, help you compile necessary documentation, and work towards resolving your tax issues efficiently and effectively, aiming to minimize your liabilities.

I've been investing in Bitcoin and other cryptocurrencies. Do I need to declare this to SARS?

Yes, absolutely. SARS views cryptocurrency as an intangible asset for tax purposes. If you dispose of your crypto assets (e.g., selling them for fiat currency, exchanging them for other crypto, or using them to purchase goods/services), any profit you make may be subject to Capital Gains Tax or, in some cases, income tax (if you're considered a trader). It's essential to keep meticulous records of all your crypto transactions, including dates, values, and purposes. We provide specialized advice and submission services for crypto currency tax to ensure your compliance.

What is a Tax Clearance Certificate and why might I, as an individual, need one?

A Tax Clearance Certificate (TCC) confirms that your tax affairs with SARS are in order. While often associated with businesses applying for tenders, individuals may need a TCC for various reasons, such as applying for emigration, certain visa applications, foreign investment allowances, or other specific legal and financial requirements. We can assist you with the application process to ensure you obtain your TCC efficiently.

Ready for stress-free personal tax management?

Contact Esti MaGuire Tax & Accounting today for a confidential consultation

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Office 10, Seagate Centre, Torquay Street, Summerstrand, Port Elizabeth

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