On 1 March, The Minister of Finance changed the tax rates

Every South African tax law explained by our experts!

2017 edition available for pre-order now

Dear tax professional

The new tax changes are here. Enforced by SARS, these regulations came into effect on 1 March and, according to experts, are an important structural change in tax legislation. And these changes are causing uncertainty and stress.

The most important changes concern:

Changes to Capital Gains Tax;
Valuation of company cars for fringe benefit tax;
Provisional tax changes;
Medical tax rate increase;
Employer provided residential accommodation.

Ignorance of the law, especially when it comes to taxes you owe SARS, can be fatal to your business!

The Practical Tax Loose Leaf service has solutions to all of the new regulations in the Tax Acts!

The Practical Tax Loose Leaf contains everything you need to know about tax

Audit Rights

Your rights when you’re audited
How long it takes SARS to issue another assessment

Capital Gains Tax
How to calculate your CGT liability, in 5 easy steps
How CGT affects small businesses
How CGT affects provisional taxpayers

Businesses: Allowances and Deductions
The difference between allowances and deductions
The golden rule for deducting expenses
Nine requirements to qualify for a deduction

Capital Reconciliation
Are you at risk? 14 typical cases that call for a capital reconciliation
How does SARS perform capital reconciliation? Here is their 9-step procedure
The formula SARS uses to perform a capital reconciliation

Company Cars and Travel Allowances
How to tax your employee’s private use of the company car
How to shrink the car’s fringe benefit tax to 3.25% if you bought it on a maintenance plan
Use depreciation to shrink the employee’s tax bill

The most effective way to save on tax
How to depreciate assets under R7 000
How to qualify for a deduction

Directors of Companies and Members of CCs
Directors/members’ remuneration is now subject to PAYE
How a director/member’s remuneration will be affected and taxed
Two other tax obligations and duties you should consider

Donations Tax
How much donations tax you will pay
Consequences of making more than one donation
19 Allowable donations exempt from tax to reduce your tax bill

Deductions: Section 23(m)
Salary earners can claim these 13 deductions
Checklist: When you CAN claim a home office deduction
Tax-free reimbursement of your business expenses

Dividends Tax
How to pay a dividend
When you become liable to pay dividends tax
Who’s exempt from DT
How to avoid a SARS audit of your dividends

Employment Contracts
3 Legal tax obligations your employment contracts must meet
 SARS gives you the thumbs-up on these 3 clauses

Fringe Benefits
Avoid a 10% penalty by taking control of your taxable fringe benefits
12 taxable fringe benefits you need to know about

Individuals Allowances
When R1 difference on the purchase price of your car will increase your tax saving
The different types of allowances

 IRP5s, IT3(a) and ITREG
Three types of employee tax certificates and when to use them
5 situations when you must issue an employees’ tax certificate
Make sure you include this mandatory info so SARS doesn’t reject your tax certificate

Income: Gross Income
Formula for calculating your normal tax
Checklist: determine whether an amount falls within your gross income

Income: Exempt Income
When you can exclude exempt income
24 Absolute exemptions you can take advantage of
How to declare your exempt income to SARS

Medical Benefits
How the medical tax credits affect you
How to calculate the medical tax credit in four easy steps
What happens if you pay for your employee’s medical expenses

Provisional Tax
What to include in your provisional tax calculation
Eight easy steps to calculate provisional tax
Avoid these three penalties from SARS

Record Keeping
15 Records you must keep to avoid penalties
3 Ways to legally keep your records
How to hang on to your ‘get out of jail free’ card

 SMMEs and Small Business Corporations
 SBCs have more tax benefits than SMMEs
Your SBC qualifies for tax investment incentives
What the benefits are of being an SMME 

Skills Development Levies
One way out of paying SDL
Three employers exempt from SDL
How to calculate your SDL contributions

Tax Audits
4 Types of SARS audits
What documentation SARS will request in an audit
6 Things to remember when it comes to a SARS audit

The two kinds of taxes you pay
Normal tax (income tax) defined – it’s not as simple as you might think

Use the experience our experts have with the tax Acts and discover how to legally pay less tax to SARS. You’ll discover exactly what taxes you have to pay and how much is due, not one cent more! Use our experts’ advice and you’ll be guaranteed to have more money in your pocket.

In the Practical Tax Loose Leaf Service, there are dozens of sample documents, checklists, tips, step-by-step instructions on how to complete SARS’ forms, practical examples and warnings about tax deadlines, now at your disposal. And they’re complete, customisable and ready to print!

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Spending time trying to correct your tax calculations? Don’t bother! The Practical Tax Loose Leaf Service will help you permanently remove any incorrect tax calculations!

Stop fuelling SARS’ bank account by paying penalties! How? Apply the secret techniques our tax experts have shared with us. Imagine beating SARS with its own weapons! Unbelievable but true! Check for yourself!

Have you misinterpreted the Tax Acts? Is legislation unclear?
The Practical Tax Loose Leaf Service brings order to the chaos of the tax Acts.  

Stop wasting time... Find out today if you’re applying the latest tax legislation correctly.
There’s no down time! You’ll now have the latest changes and practical advice on all the tax Acts.

... How long does it take you to understand and correctly apply the new tax rules?
Save 90% of your time studying the changes in the tax Acts. You’ll now have clear, concise interpretation of the tax Acts. No figures of speech or unnecessary digressions! Just open the chapter you’re interested in!

Do the tax Acts seem unclear, incomplete, uninterpretable?
Our team of tax experts are here just for you. The tax laws are ambiguous and all the tips and secrets can only be interpreted by the experts. You’ll learn how to apply tax Acts to work in your favour.
We’ll even give you the correct interpretation of the recent legislative changes in the tax Acts!

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Four reasons to subscribe to The Practical Tax Loose Leaf Service 

The Practical Tax Loose Leaf Service represents 13 years of tradition, prestige and value!

The Practical Tax Loose Leaf Service first published in May 2003!
Last updated: September 2016!

It contains important news about the implications of the tax Acts, both old and new!

Over 500 pages of definitions and legal regulations, useful advice, exceptions to the rules that help you slip through the legislative jungle of taxes.

167 Case studies and practical examples that show you what elements you should consider for your taxes to be perfect;

83 Red flags you need to watch out for and the penalties you’ll face if you don’t respect them;

Six sample templates at your disposal, ready to be filled in, customised and printed. The Practical Tax Loose Leaf Service is a full service tax consultancy you can use every day!

Membership to the Practical Tax Loose Leaf offers you the following benefits:

#1 A handbook with over 500 pages of all the information relating to the Tax Acts [click here to view the full contents of the Practical Tax Loose Leaf Service]

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A talented team of experts, each excelling in a particular field -  Corporate tax, tax audits, tax law will show you how to legally pay less money to SARS.

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Lowest Price and Satisfaction Guarantee
When you subscribe to The Practical VAT Handbook Subscription Service, you will be billed based on the option you select. The handbook comes with an essential updating service to keep you on top of legislation and new information. *The cost of each update is R249 incl. Vat. Remember your right to cancel your subscription within 30 days of initial payment should the service not meet your requirements.

Kind regards,

Natalie Cousens

Managing Editor, The Practical Tax Loose Leaf

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