MHL Accountants

15/08/2024

COMMON MISTAKES WHEN FILING A RETURN-ITR12-PERSONAL TAXES.

1. Completing the tax return without obtainingsupporting documents
2. Assuming you will automatically get arefund
3. Using the wrong source code
4. Not understanding the ITR12 return field onefiling
5. Not declaring other income received duringthe year of assessment
6. Provision taxpayers failing to file provisionaltax returns
7. Choosing to manually submit

Below It’s a list of some of the documents you may need:
1. . IRP 5 / IT 3 (a) certificate fromthe employer
2. . Medical aid certificate
3. . Pension & retirementannuity certificate
4. . Proof of bank details
5. . Travel logbook if you receive a travel allowance includingfuel, maintenance, lease & Insurance costs
6. . Tax certificate (IT 3 (b) which youreceived in respect of investment income
7. . Completed confirmation of diagnosisof disability form (ITRDD) for dependentswith disability8. Other documents depending onyour circumstances

08/02/2024

Good Day, Business Owners,

Do you qualify for Turnover Tax? SARS registration for Turnover Tax is before the 1st of March each year, If you qualify let us know, to register you.
Run a quick test on the SARS website and see if you qualify.

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17/05/2023

22/06/2021

01/11/2020

Chapter 6 of the Companies Act 2008 (Act 71 of 2008) provides for the efficient rescue and recovery of financially distressed companies, in a manner that balances the rights and interests of all relevant stakeholders.

All businesses that are financially distressed and want to take a decision to start rescue proceedings can file a notice to start business rescue proceedings

A director or a member would have a duty to pass or consider passing a resolution for a company’s business rescue or alternatively resolve to wind up or liquidate as soon as he or she becomes knowingly aware that the company is either:
Financially distressed or
Is unable to pay its debts

Important: No liquidation proceedings must have commenced against the company when a decision is taken to start business rescue proceedings

15/08/2020

COMMON MISTAKES WHEN
FILING A RETURN-ITR12
PERSONAL TAX
1.Completing the tax return without obtaining
supporting documents
2.Assuming you will automatically get a
refund
3.Using the wrong source code
4. Not understanding the ITR12 return field on
efiling
5. Not declaring other income received during
the year of assessment
6. Provision taxpayers failing to file provisional
tax returns
7.Choosing to manually submit

MHL
ACCOUNTANTS
J O H A N N E S B U R G, FOURWAYS

11/08/2020

What are the benefits of using a properly
registered tax practitioner?

A tax practitioner’s job is to provide taxpayers with reliable
advice, detailed preparation of returns and assistance with
SARS verification and audit processes.

In practice, we see major value in saving time and ultimately money for a taxpayer in using a registered tax practitioner to direct the tax filing process and communication with SARS.

The goal of a taxpayer is to receive the correct tax
assessment and to pay the correct amount of tax. By
supplying the correct and complete information in the correct
format through a registered tax practitioner, the taxpayer can
ensure the maximum refund possible or the correct amount
of tax to pay legally.

08/01/2018

Thank you for the likes hope our consulting services will meet your required needs going forward.We are empowered by your success.