Download your Bonus report: SARS Tax Tables 2014/15 today!
Use this report and The Practical Tax Loose Leaf Service to avoid nasty tax penalties from SARS and save you thousands of rands… maybe even R1 270 150.
Imagine SARS calls you and says they will be doing an audit of your business, you’re not worried as you know your accountant has paid all your taxes on time and your finances are up to date.
Following the audit you get an assessment saying you owe penalties of 200% and interest on all the money you owe, which means you will have to liquidate your business! Ensure SARS doesnt slap you with penalties of up-to 200% by calculating all aspects of your tax returns correctly.
When you sign-up for the Practical Tax Loose Leaf Service we will send you the bonus e-report 'SARS Tax Tables 2014/15. In this report we will give you each tax table as recommended by SARS:
- The income tax rates for 2014/15
- Details of the income tax rebates, exemptions and deductions allowed by SARS
- The rate per kilometer travel allowance, which you need to calculate travel allowances
- Company income tax rates for 2014/15
- Transfer duty rates
- SARS interest rates.
But without the Practical Tax Loose Leaf this tax tables report is useless. With the Practical Tax Loose Leaf at your side, within minutes you will be able to acurately manage and calculate tax on:
- Fringe Benefits
- Capital Gains Tax
- PAYE and salary structures
- Dividends and STC
- Company Car Allowances
- Medical Aid Percs
- And so much more...
With all these checklists, step-by-step instructions and expert tips and advice at your fingertips you will never need to call in a consultant. All the information in the Practical Tax Loose Leaf is written in simple english so anyone can understand tax.
But thats not all...
If SARS comes knocking at your door, are you 100% confident that all your books are in order?
When it comes to tax you need to make sure you know your rights and ensure you never pay too much tax or end up with penalties of as much as 200%. Just relying on your accountant or tax consultant could end up costing you hundreds of thousands of rands.
Protect your rights when SARS comes knocking at your door with the Practical Tax Loose Leaf - try it now.
139 reasons why SARS doesn't want you to
SARS is hungry for money.
It's teetering on the edge of a R69 billion budget-shortfall... and if it falls in, lights will go off, roads will crumble and water will become undrinkable.
So, SARS' only hope is to go after taxpayers with a vengeance.
But not individual taxpayers.
No. It's set its sights on corporate taxpayers, like you.
And that's why it doesn't want you to see this letter...
Because with it, you'll uncover no less than 139 ways for your business to legally pay less tax.
Here are the first five (for example)...
- The 22 little known allowances that you could deduct so you pay less tax (C04:037)
- The 7 expenses you incur for legal activities that you can claim deductions on (C04:031)
- A 3-point checklist that guarantees the repairs you make to your office, machinery or tools will qualify as a deduction (C04:026)
- The 3 ways to deduct your bad debts (C04:034)
- Seven expenses to always include in your travel claim to maximise your tax savings (C04:017)
Deductions aren't the only way to reduce your tax bill. Here's another completely legal strategy...
How to make yourself invisible to SARS
Key to reducing how much tax you pay is staying off SARS' radar.
But SARS plans to double the 72,926 audits it managed this year. It's added 100s of new tax collectors and auditors to its payroll and each one has his own collection targets to meet. This means two things:
1. Your chances of an audit this year has just doubled, and
2. So has your chance of paying more tax.
But I have a perfectly legal way for you to reduce your risk, including...
- What you can do to avoid unnecessary attention from SARS using these 6 secrets (A03:003)
- How to make every transaction legit with this one simple step (A03:009)
- The one letter you must ask to see BEFORE any audit starts... or refuse to comply (A03: 006)
Still... knowing your rights, and insisting that SARS honours them - is only ONE battle to win in reducing your tax burden.
Which is why SARS doesn't want you to learn about the 139 ways the Practical Tax Loose Leaf Service has identified to help your business pay less tax, legally.
And that's EXACTLY why I want to get this information to you today!
But, before you read more about what this service has uncovered, here's why you should listen...
A combined experience of 91 years... and a mission
I'm Natalie Cousens and I have one signle purpose: To help businesses like yours save tax. My team and I at the Practical Tax Loose Leaf Service have developed a perfectly legal way to do just that.
Take Ettiene Retief for example. He's on a first name basis with Trevor, Pravin and now Oupa... all so he can fight for the cause of taxpayers like you. Every chance he gets he bends their ears and challenges SARS' interpretation and application of South Africa's tax laws. As a chairman of the Tax Technical Committee at South African Institute of Professional Accountants, he's in a position that those in power can't ignore.
There's also André van Staden - a tax specialist with nine years’ of experience in advising both individuals and companies on a wide variety of taxation matters. André is the proprietor of Exord Tax and Payroll Solutions, and holds a Masters degree in tax law
There's Antonie Goosen. He worked at SARS for 17 years. Who could ask for a better insider?
Then we have three more highly qualified tax experts who contribute to the Practical Tax Loose Leaf Service. Together, this team works day and night to uncover every legal way to help you protect your rights and to reduce how much tax your business must pay.
What they find is so powerful, SARS doesn't want you to see it.
How to structure your salary to save R1,000s
(Yes, you can still save on tax this way)
Let's say your company pays you a gross monthly salary of R10 000 with medical contributions of R1 500. Then the medical aid company increases its premium to R2 000.
Under the usual system of structuring salaries, you would make a salary sacrifice of R500. AND you'd need to comply with all the legal requirements to make that sacrifice as well. Then you can only claim your tax-free portion back in the month you make your contribution...
The Practical Tax team has a better way to do this, one that doesn't involve sacrifice and extra work. One that SARS won't look at twice, reassess and penalise you for.
In fact, the salary structuring solutions that the Practical Tax team has uncovered allow you more leeway to structure salaries in the future without affecting your gross salary now.
- The 11 deductions salary earners can still claim (D06: 003)
- The three non-negotiable requirements your employment contracts must meet to minimise your tax (E01: 003 - 005)
- The most common mistake taxpayers make when calculating their pension fund deductions... and what you must to do to avoid it (I01: 005)
- Five tax safeguards to include in your employment contracts (E01: 010, 011)
The solutions also allow you to know the exact cost to company of all your employees, so making management decisions will be easier... especially when review time comes around again.
Then there's this 100% legal strategy...
Save R25 988 by keeping an accurate logbook
Maintaining an accurate logbook is a tedious affair but the benefit of additional tax savings may make it worthwhile.
An accurate logbook means you can base your claim for travel expenses for business and private use on the actual distances travelled. You may also be able to reduce the taxable benefit of the company vehicle used by you. No logbook puts you at the mercy of the provisions of the Income Tax Act, that can in some cases be extremely costly.
In fact, as of 1 March 2010, if you’re using the gazette rates per kilometer method for calculating your travel claims, then no logbook means no claim!
Our practical example below shows you how you can easily save R25 988 by keeping an accurate logbook.
Who can benefit from an accurate logbook?
• Sole proprietors, commission earners
• Employees who receive travel allowances
• Employees, directors, members, etc. using a company owned vehicle
Example: No logbook
Mr Smith uses his personal vehicle for business purposes. He didn’t maintain an accurate logbook. His vehicle costs him R250 000 including Vat, but excluding finance charges. His travel allowance is R64 970 for the tax year ending 29 February 2012. He travelled a total distance of 17 600 kilometres for the period 1 March 2011 to 29 February2012.
Mr Smith won’t have a claim because he didn’t keep a logbook.
Example: Logbook kept
Assume that Mr Smith maintained an accurate logbook as follows.
|Business travel||10 518 km|
|Private travel||7 082 km|
|Total distance travelled||17 600 km|
Mr Smith’s travel deduction is calculated as follows.
Fixed cost = fixed cost/Total km: ((86 211/17 600) x 100)
|Fuel cost||= 81.5c|
|Maintenance cost||= 46.4c|
Business km x total cost 10 518 x 617.7c
Allowable deduction = R 64 970
Tax saving based on a marginal tax rate of 40% = R 25 988
Mr. Smith will benefit in paying R25 988 less in taxes, compared to not keeping a logbook.
With SARS hungry to increase its collection revenue, it doesn't want you to know how to pay LESS tax like this. Nor does it want you to know any of the 139 secrets the Practical Tax Service has uncovered for you. So today I'd like to give you the opportunity to put this service to the test.
I'll explain in a minute... but first, here are a few more secrets you can use to pay less tax, guarantee your compliance and generally just make your job (and life) easier...
Other secrets you'll uncover with the Practical Tax Loose Leaf Service
- If SARS asks you to sign this document... STOP! Put down that pen. You have the right to refuse (C08: 010)
- What R5,000 can do to boost your annual deductions, and how to maximise its effect (D01: 008)
- The ONLY way you'll NEVER pay donations tax (D03: 002)
- Use your company car in these three ways and you WON'T pay tax (T09: 007)
- The 27 capital allowances for your business (ID: 004, 005)
Today, I've only shown you a few of the 139 reasons why SARS doesn't want you to see this. Space is limited. Your time is precious. So, instead of going into more detail here, I want to give you the opportunity to uncover for yourself ALL the tax-minimising, compliance-maximising strategies the Practical Tax team has covered, I'd like to send you the Practical Tax Loose Leaf today.
Remember, independent consultants check all the tips, tools, strategies and checklists you'll discover in the Practical Tax Loose Leaf. That means everything you'll find in this loose leaf is 100% legal.
Every word of the practical advice the team writes in simple English (you won't find a word of jargon)...
Every step-by-step instruction...
Every sample and formula...
Every case study and example...
And it covers the whole business tax spectrum. Audit regulations. Capital Gains Tax. Capital Reconciliation. Company Allowances. Company cars and travel allowances. Section 23(m) deductions. Depreciation. Directors of companies and members of CCs. Dividends. Donations tax. Employment contracts. Fringe benefits. Exempt income. Gross income. Individual allowances, deductions and fringe benefits. Record keeping. SDL and UIF levies. SMMEs and small business corporations. Medical expenses. Provisional tax. Salary structuring. IRP5s, IT3(a), ITReg.
You name it.
You can use it all for two weeks to pay less tax AND slash your admin burden...
Then you have a choice to make...
You can decide that you prefer paying SARS more than you should. That you enjoy working late. That you're happy to put a bright red "I'm here", beacon on your business so SARS can find you. If that's the case, then return the Practical Tax Loose Leaf binder to me with the invoice and that will be that.
But, if you recognise the power crammed between the covers of the loose leaf, simply pay the invoice for R860.70 and then take full advantage of the complete Practical Tax Loose Leaf Service.
- Regular updates for your loose leaf: Every month, the team send you NEW tips, strategies and secrets (SARS doesn't want you to see these either). And they update any of their solutions that have become outdated because of law changes.
- The tax helpdesk: If you have any tax questions, log on to the AccountingandTaxClub.co.za. As soon as your question arrives, the team will find you an answer. Free of charge. But this is only available to all paid-up subscribers.
- Unlimited permission to copy all sample forms and contracts you get in the loose leaf and updates, as long as you've paid your invoice.
- Valuable daily e-letter answering pertinent questions and covering key changes in the tax world.
- Online access to past updates.
Get your copy of the Practical Tax Loose Leaf for review right now. With everything it can do for your business... it's the last thing SARS wants you to see.
Managing Editor: Practical Tax Loose Leaf Service
P.S. Grab your copy of the Practical Tax Loose Leaf before the end of the month and we'll send you a free copy of the team's best creation yet:
Take on SARS and Win! covers:
The benefits of Appropriate Dispute Resolution (ADR)
How to object to an assessment by SARS
What to do if your objection gets disallowed
When SARS may/may not settle your dispute
The regulation of ADR
It's yours, no charge.
P.S. Don't pay any money now! Review the 100% legal tips and strategies. Learn how to pay less tax and be perfectly compliant.