Tax

GreatSoft tax calculator is browser-based, which means you can login to your secure portal and manage your clients’ tax affairs from anywhere on any device.

GreatSoft DraftWorx integration

Integration of GreatSoft and Draftworx for Importing Draftworx Trial Balance into GreatSoft ITR14 Corporate Tax Return

GreatSoft Draftworx Integration: GreatSoft and Draftworx, two leading software vendors in South Africa for accountants and auditors, have joined forces to enhance efficiency and accuracy in tax compliance processes. This partnership focuses on the seamless integration of Draftworx trial balances into the GreatSoft ITR14 Corporate Tax Return form, saving time and reducing errors for users. …

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Tax software South Africa

GreatSoft Tax: Simplifying Tax Administration

As tax professionals, we understand the complexities involved in calculating taxable income, filing tax returns, and managing client information. GreatSoft Tax aims to alleviate these burdens by providing a streamlined platform for tax practitioners. Let’s explore what makes GreatSoft Tax a game-changer in the world of tax software. Overview of GreatSoft Tax GreatSoft Tax is …

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Practice Management Virtual Classroom Training

Supercharge Your Practice Management Skills with Our Virtual Classroom Training Are you ready to take your practice management skills to the next level? We’re thrilled to announce our upcoming Practice Management Virtual Classroom Training, designed to empower professionals like you with the knowledge and tools needed to excel in today’s competitive landscape. In this comprehensive …

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SARS PIT Modernisation Project

Important Update: SARS PIT Modernisation Project and How It Affects employers, payroll bureau’s and payroll service providers

During a meeting in February 2020, SARS unveiled its plans for the “SARS Vision 2024 PIT” project. Various payroll bodies provided inputs to the SARS Vision 2024 PIT team during this meeting. These inputs highlighted crucial aspects of payroll processing and employment taxes. The goal of these documents was to give SARS a better understanding …

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Real Time Reporting

‘Real-time’ reporting to SARS on trusts? Yes, maybe

Trusts are still largely unregulated, which frequently leads to their abuse. The Courts and SARS are, however, becoming impatient with trustees and trust service providers. In July 2021, SARS presented a webinar on Trust and Tax Obligations. SARS’s nine objectives were communicated and included the following:  SARS will make non-compliance difficult and costly; They are …

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What you need to know about SARS auto-assessment

What you need to know about SARS auto assessment

News Article – SARS Notice: Auto Assessment rules for 2022 Payroll system functionality traditionally ends with the creation of tax certificate files for submissions and reconciliation and does not extend into income tax assessments and related processes. However, the notice from SARS outlining the latest auto-assessment rules is of direct importance for employees (taxpayers), and …

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Tax Calculator

Tax Deductions (PAYE) on your Pension or Annuity

SARS has released a letter with regards to the Tax Deductions (PAYE) on Pension or Annuity in order to deal with the individuals who have Pensions and/or Annuity funds. According to the letter, these deductions will be effective from 1 March 2022. Tax Deductions (PAYE) on your Pension or Annuity Where a pensioner has one …

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Protection from a SARS tax audit

Having a great tax accountant no longer guarantees your protection from a SARS tax audit.

With SARS facing tax revenue shortfalls in excess of R200 billion, the reality is that SARS is under pressure to collect more taxes. And this means more taxpayers will be subjected to tax audits – even if you and your business is 100% tax compliant. SARS have the law behind them. The Tax Administration Act …

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Claiming PAYE from Home

With the Outbreak of the Corona Virus, more and more employees were forced to start working from home. Remote work is no longer a term for freelancers and gig workers, but everyone’s present daily. The work culture has evolved massively and Flexible employment became the new buzzword. With all that said, what does this mean …

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Work from Home - Home Office Tax Deductions and Expenditures

Home Office Tax Deductions and Expenditures

Working from home seems to be the “New Normal” since the Coronavirus outbreak. If you worked from home for more than half of your total working hours or for more than 6 months during the tax year March 2020 to February 2021 you can claim back from SARS. These deductions are only allowed under certain …

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