Tax season is upon us again and many of you will be rushing to make sure all the necessary documentation is in order.
SARS is without a doubt one of the most forward thinking revenue agencies in the world, but this does not mean they are without their quirks and challenges. A number of industry commentators have lashed out at the new Amendment Bills saying they are ‘draconian’. However, like it or not, we are all going to have to knuckle down and ensure compliance.
Over the last year there have been a raft of new legislative requirements and CRS has been working flat out to ensure that your payroll software is totally up to date and compliant. That said, if you think this bi-annual submission has been tough, we can confidently warn you that more changes are on the way.
SARS is moving towards a simpler tax institution, but as it moves down this path we can expect a shift in how SARS engages with both companies and individuals – as Jim Morrison once said, “Everything is simpler and more confused.”
Companies would be well advised to keep an eye on new statutory compliance issues and CRS, through this newsletter and other communications, will ensure we pass on any relevant information as and when it becomes available.
Issues that are currently on the table include the new requirements in terms of the IT88 form, which now makes employers responsible for collecting debt on behalf of SARS, as well as other new requirements ahead of the August declaration. If you are in any doubt, please don’t hesitate to contact CRS and we will happily walk you through these and other challenges.
Until next time,
A useful resource: Personal Tax in 2010
Click here for a quick guide to personal tax from Tax Consulting.
Feel it! It is here!The Annual CRS Conferences
For those in Johannesburg and Durban, it may be too late but there is still time to book your seat at the Cape Town and Port Elizabeth conferences.
Cape Town: August 4 Port Elizabeth: August 5
Please click here to register online or chat to your Consultant for more information.
During the next month we’ll be offering training on the following modules:
- Payroll Operations
- Leave Module
- Report Writer
- Equity Module
- Safety Module
- Wellness Module
- Employee Relations Module
Please click here for the dates and venues.