Understanding Provisional Tax for Freelancers and Side Hustlers in South Africa
With the rise of freelancing, consulting, and side hustles, many South Africans are earning additional income outside of traditional employment. While this extra income can be financially rewarding, it also comes with important tax obligations. One of the most common requirements is provisional tax.
Karbon for Clients: A Simpler Way to Work With Us
Karbon for Clients is part of Karbon, the system we use to manage our work behind the scenes. Karbon helps us plan, track, and complete accounting and compliance tasks accurately and on time. The client portal is the part of that system designed specifically for you. It gives us a secure, structured space to collaborate.
A Guideline for Provisional Tax Returns for Individuals
Provisional tax is not a separate kind of tax. It’s Tax that is based off the Income you receive in which no PAYE is deducted.
If you qualify based on the below criteria, you are required to submit Provisional Tax Returns twice or three times a year. In simple terms, this is a way of paying off your Annual Income Tax liabilities in advance.
Accounting and Tax Tips to Help You Stay SARS-Compliant
Staying compliant with the South African Revenue Service (SARS) is an important responsibility for both businesses and individuals. Proper accounting practices and timely tax compliance not only help avoid penalties and interest but also provide peace of mind and better financial control.
Read are some practical accounting and tax tips to help you remain SARS-compliant throughout the year.
Why Is SARS Charging Admin Penalties on My Dormant Company?
Even a business that’s been completely inactive can still face administrative penalties, and many owners only realise this once a fine lands in their inbox. Understanding why this happens, and how to avoid it, can save you a lot of stress and unnecessary costs.
Common Red Flags That May Trigger a SARS Audit
Getting flagged doesn’t always mean you have done something wrong, but certain mistakes or unusual patterns in your tax return can draw their attention. Knowing what commonly triggers an audit can help you submit your tax return correctly and avoid extra stress.
How do I know if the SARS correspondence I received is real?
As of recently, there has been an influx of scammers attempting to impersonate SARS officials and demand money. It’s important to know how to handle these communications calmly and correctly. Many individuals are discovering that they have no outstanding tax debt, yet still receive demand notices.
Why Teamwork Is the Backbone of Every Great Accounting Firm
In the world of accounting, accuracy and timeliness are everything. But behind every set of balanced books and filed returns is more than just an accountant — there’s a team. That includes not only the accounting professionals but also the administration staff, who play a crucial role in keeping things running smoothly.
Working at TLOK
One of TLOK’s core values is customer focus, which reflects our commitment to understanding and meeting the unique needs of our customers. This value involves tailoring each interaction to effectively address their specific requirements and preferences.
New Advancements and Improvements at TLOK
We are thrilled to share technological advancements that will make managing your finances easier and give you greater flexibility.
• Debit Orders
• Additional Payment Methods
• Karbon & Karbon for Clients App
What is required of individuals to file their tax returns?
If you have opted to file your own tax return, you might wonder what documents are required to get started. Each year, SARS expects specific standard documents from taxpayers. Having these on hand will make the process smoother and help ensure your return is accurate and complete.
The Exciting World of an Accountant
If you ever wondered what an accountant goes through in a day – you may have imagined them in front of their screens engrossed with spreadsheets and numbers all day long. Yes, that is definitely part of heir job, however there is a whole lot more that goes on in the life of an accountant. In this blog we will give you a peek into the tasks, responsibilities and challenges in the accounting world.