STUDY IN YOUR OWN TIME !

The following courses are included in this package:

DIFFERENT TYPES OF TRAVEL ALLOWANCES

• Where the employer provides a company owned car for the employee
• A travel allowance / car allowance is given to some staff members whereby the employee uses his or her own vehicle
• A reimbursement of business travel expenses where the employee is paid a rate per kilometer travelled
• Source codes to be used on IRP5’s for the different scenarios and calculations
• The 80/20 Rule applied

DETERMINATION OF MEDICAL TAX CREDITS (MTC)

• Medical Tax Credits – year on year comparison
• Individuals who have not had their MTC taken into account by an employer
• The meaning of “dependent”, “spouse” and “child”
• Persons paying the contributions
• Apportionment

DETERMINATION OF ADDITIONAL MEDICAL TAX CREDITS (AMTC)

• Qualifying medical expenses (Disability, Physical Impairment)
• Qualifying persons
• Timing of claim of qualifying medical expenses
• How to claim – whether you are registered for income tax or not
• How to object to a disallowance

COMMISSION EARNERS & TAX

• Who is a commission earner
• Remuneration subject to PAYE, on the payment basis
• How to apply for a tax directive
• Types of expenses claimed as deductions
• Reduction in commission income due to Covid-19 lockdowns
• Formulas for Calculating Tax on Commission
  • Aggregated Annual Taxable Income
  • Tax Directive
  • Annualised Amount of Tax Payable
• Home office deductions and lockdown
• Home office deductions and the impact on Capital Gains Tax
• How to complete your income tax return
• Maintaining an income statement
• Claims against Travel Costs and the importance of a Travel Log Book
• Caution in accepting Auto-assessments from SARS

FREELANCERS & INDEPENDENT CONTRACTORS & TAX

• Know what kind of business you are running –
  • Sole Proprietor
  • PTY LTD
  • Partnership
  • CC
  • Independent contractors or freelancers
  • Small Business Corporation
• Provisional Tax and Turnover Tax
• How are you taxed on your 'side business'
• Types of expenses claimed as deductions
• Benefit from home office tax deductibles
• Home office deductions and the impact on Capital Gains Tax
• How to complete your income tax return
• Maintaining an income statement
• Claims against Travel Costs and the importance of a Travel Log Book
• Caution in accepting Auto-assessments from SARS

EMPLOYER & EMPLOYEE: PAYE, UIF & SDL

• Registration of your entity with both SARS and The Department of Labour – the two are NOT the same
• How to calculate, submit and pay – and to who?
• When is an employer compelled to pay SDL?
• What tax relief systems are available to employers
• How to effectively use your SETA
• Introduction to Workmen’s Compensation and when is it compulsory to register

FRINGE BENEFITS & TAX

• Free/cheap assets
• Right of use of an asset
• Right of use of a motor vehicle
• Meals, refreshments
• Residential accommodation
• Free or cheap services
• Benefits in respect of loans
• Benefit funds
• Medical expenses
• Insurance policies
• Retirement funds
• Payment of employees’ debt
• Allowances
  • Transport allowance
  • Travel allowance
  • Subsistence allowance

HOME OFFICE EXPENSES

• When will I be able to claim home office expenses?
• What are the requirements for claiming home office expenses?
• What constitutes home office expenditure?
• What are the Capital Gains Tax implications if I sell my house used partially for trade?
• How do I apply the floor space formula?

HOW TO CALCULATE A REASONABLE TRAVEL ALLOWANCE

• When will I be able to claim home office expenses?
• What are the requirements for claiming home office expenses?
• What constitutes home office expenditure?
• What are the Capital Gains Tax implications if I sell my house used partially for trade?
• How do I apply the floor space formula?

All Included:

• Video presented courses
• Downloadable course material
• Certificate of training
• Verifiable CPD points
• Assessments