MK & Associates

27/03/2020

MK & Associates will remain open during lockdown.
Mon to Fri: 9h00 - 16h00

Please keep in mind that we can only offer certain services because of the lockdown.

Most websites are still under construction and we are trying our best to assist all companies applying for uif and smme debt relief.

May you and your family stay healthy and safe during this time.

25/10/2018

20/07/2018

Personal Income Tax Returns from March 2017 to February 2018

Tax Season 2018:
• All individual non-provisional taxpayers: 1 July to 31 October 2018 - eFiling (non-provisional)

• Provisional taxpayers who use eFiling have until 31 January 2019 to file.

23/06/2017

Medical deductions

Check if the information on your medical scheme tax certificate is correct. If not, contact your medical scheme to correct it before you file your tax return.

If your employer paid your medical scheme contributions to your medical scheme on your behalf, the amount will appear on your IRP5/IT3(a) certificate but SARS will not use this amount in calculating your assessment. You must complete the medical expenses section on your ITR12 using the information on your medical scheme tax certificate.

Retirement Annuity Fund Contributions

If you want to claim deductions for retirement annuity contributions you made, you must provide the individual policy number(s) and the name(s) of the insurer(s) or fund(s) of each.

23/06/2017

Tax Season 2017 starts on 1 July!

• Have all your supporting documents ready:

o Proof of income such as:
 IRP5/IT3(a) from your employer or pension fund
 Tax certificates for investment income IT3(b)
 Tax Free Investments certificate(s) IT3(s)
 Financial statements (e.g. for business income), etc.

o Proof of deductions such as:
 Medical scheme contribution certificates and receipts
 Completed confirmation of diagnosis of disability form
(ITR-DD) if you want to claim any disability expenses
 Retirement annuity contributions certificates
 Travel logbook (if you receive a travel allowance or use
a company car), etc.

25/04/2017

26/02/2017

Economist Dawie Roodt has described the 2017 budget as horrible, with the government increasing the bloated state and adding more pressure on a shrinking number of wealth creators.

26/02/2017

Income tax is going up in South Africa for certain individuals, Finance Minister Pravin Gordhan has announced.

08/12/2016

Our office will be closed from 15 December 2016, 16h00 and we will reopen Monday, 9 January 2017, 8h30.

We would like to thank you for your loyalty and support.

30/08/2016

1 September 2016 - Employer Mid-Year Reconciliation

Employers are required to submit their Pay-As-You-Earn (PAYE) Employer Annual Reconciliations Declarations (EMP501) between 1 September and 31 October 2016 to SARS, confirming or correcting payroll tax amounts which were declared during the period 1 March – 31 August 2016.

Employers are urged to accurately verify and update each employee’s personal and financial details before submitting their Reconciliation Declaration (EMP501) and Employees Income Tax Certificates [IRP5/IT3(a)s] to SARS.

In cases where details are incorrect, employees will have to revert to their respective employers who will need to make changes on the IRP5 and re-submit these to SARS. This process can be time consuming and it may become problematic for employees to file on time.

Employers play a very important part in the income tax cycle.

22/06/2016

Commission earners
Unfortunately SARS won’t accept the commission tax deduction without proof and will only be accepted where income source code 3606 is available and where the 3606 amount exceeds 50% of the total of the amounts of codes 3697 and 3698 on your IRP5/IT3(a).

We need the following documentation form you which will enable us to claim against commission income:
- Cell phone accounts
- Entertainment expenses – slips
- If your laptop, cell phone or table are owed by you please provide the following:
Make and model
Cost price

- Any other expenses you have incurred with enable you in your trade. Please provide proof.
Bank Charges
Insurance – Vehicles, cell phones and laptops / tablets