BVK Tax Consultants and Practitioners

Yes, all entities must be registered for tax.

Yes, even though the company is tax exempt a tax return still needs to be completed.

Non provisional taxpayers in October and provisional taxpayers in January of each year. Subject to change yearly by SARS.

SARS receives data from employers (IRP5), medical schemes, banks, retirement annuity funds and other. They then use the data to calculate your tax assessment. SARS issues the assessment via Efiling or the SARS MobiApp. The taxpayer has 40 days to file a tax return through the normal channels should they believe the assessment is incorrect. It is important to note that even though SARS has issued the auto assessment, that the onus is always on the taxpayer to ensure the information is complete.

It is regulated in the Tax Administrations Act and Income Tax Act that a company must appoint a director at SARS who is responsible for all tax fiduciary matters.

Businesses with an annual turnover of R 1 million or less, may qualify as a micro business. Contact us for further information.

This is dependent on your circumstances, contact us for a consultation

You are entitled to a refund when your input tax exceeds your output. There are however currently delays with SARS paying out refunds.

No, it will not be taxable in your hands, but your uncle may have to pay donations tax, if his total donations for the tax year exceeds R100,000. You will however be required to indicate on your tax return that you have received a donation and give details thereof.

To be tax exempt, you will need to apply for the tax exemption. We can assist.

Any person who receives income (or to whom income accrues) other than a salary, advance or allowance, is a provisional taxpayer and should register for provisional tax at SARS. You are exempt from being a provisional taxpayer even if you receive income other than a salary, if both of the following applies to you:

• You received income from interest, dividends, rentals and any remuneration from an employer that is not registered for PAYE and the total amount received does not exceed R 30 000 for the year.
• Your taxable income does not exceed the tax threshold for the year.

You will need to register for VAT if your vatable turnover exceeds R1million per year. There may be advantages to register for Vat even if your vatable turnover is less than R1million. Contact us for details.

The same day.

21 working days

Yes. This is included in your monthly retainer fee.