LinCo Accounting

11/07/2022

This time of the year again. Get your paperwork in order.

05/09/2020

Professional Evaluation details, results and results archives, as well as past papers.

20/08/2020

17/08/2020

Be compliant. Let us help YOU.

16/08/2020

[SARS Auto-assessment: further feedback issued 13 August 2020]

Further to our feedback on 4 August 2020, SAIPA would like to inform members of the following:

• Taxpayers have until 16 November 2020 to accept an auto assessment.
• Taxpayers may view the results of their auto assessment by clicking on the left menu on “Return Issued”, then “Personal Income Tax (ITR12)”, then on the top right, click on “Request Return” for the year 2020. A pop-up message will be displayed informing you of the auto assessment results. Click “Continue” to view the results and summary of the underlying data used for the auto assessment. Tax practitioners may also view the results of auto assessments for clients listed on their profile.
• The source code 4029 with the description Retirement Fund considers contributions for all types of retirement funds, that is, Retirement Annuity Fund/Pension Fund/Provident Fund).
• It is possible that an IRP5 discloses R375 000 as contribution to a pension fund, but an auto assessment displays R350 000. Fund contributions are capped at R350 000, so even if the taxpayer contribution was more than R350 000, it will remain R350 000 on the auto assessment.

• Medical aid contributions are included under `Rebate’ under tax calculated.

But what happens if a taxpayer is not in receipt of an SMS?

• Taxpayers can submit their tax returns immediately. Taxpayers who file online via eFiling or the SARS MobiApp must file on or before 16 November 2020. Taxpayers who cannot file electronically can file at selected branches from 1 September – 22 October by appointment only.

16/08/2020

Let us assist you.

14/08/2020

[TREATMENT OF AUTO-ASSESSMENT: MESSAGE TO ALL SAIPA MEMBERS] SARS briefed the Recognised Controlling Bodies (RCBs) on 3 August 2020, on concerns arising from the auto assessment currently issued by SARS to taxpayers. Read more about all you need to know about auto assessments here: https://bit.ly/SARSAutoAssesments