Value Smart

SA Tax Practitioners and Tax Services

ValueSmart’s registered tax practitioners ensure that your tax submissions align with laws & are submitted on time for absolute peace of mind.

Tax Preparation! Tax Time!
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ValueSmart Tax Services

As experienced tax practitioners, we know that most people see tax as, well, taxing.   It doesn’t have to be that way.  

When your tax affairs are handled correctly, you can enjoy considerable savings and even receive money back in the form of Tax Refunds.

Calculating tax and submitting tax returns requires an up-to-date understanding of company and taxation laws so that your business remains compliant. 

The law is constantly revised, and–when it comes to taxes–it is your responsibility as a taxpayer to submit your returns accurately and timeously. This involves knowing what is taxable, how much is taxable, and when the associated submissions are due. If this sounds a bit overwhelming, don’t worry, we’re here to help!

Have a Question? Give us a Call 

When qualified tax practitioners handle your tax submissions, they must uphold stringent quality standards. We ensure that your submissions align with all the applicable laws for absolute peace of mind.

Our service includes preparation and submissions of:

  • Personal income tax returns
  • Company income tax returns
  • VAT returns
  • PAYE, UIF and SDL returns and IRP5 certificates
  • Provisional tax returns

Find out more about our services from our genius tax practitioners

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CIT, or Corporate Income Tax, is a tax imposed on all companies that derive income within the Republic of South Africa’s borders. 
This applies, but is not limited, to:

  • Listed public companies
  • Unlisted public companies
  • Private Companies
  • Close Corporations
  • Co-operatives
  • Collective Investment Schemes
  • Small Business Corporation (s12E)
  • Body Corporates
  • Share Block Companies
  • Dormant Companies
  • Public Benefit Companies

PIT, or Personal Income Tax, is a tax that you are liable to pay based on your taxable income. This includes:

  • Remuneration paid to you for employment can be in the form of a salary, wages, bonuses, allowances, overtime pay, as well as taxable fringe (such as company loans or medical) benefits or certain lump-sum benefits.
  • Profits or losses from a trade or business
  • Income or profits received as the result of being a beneficiary of a trust
  • Director’s fees
  • Investment income (such as interest received or foreign dividends)
  • Income or losses derived from rentals
  • Income received from royalties
  • Annuities
  • Income received from a pension
  • Certain capital gains

You are liable to pay tax if your earnings exceed the minimum tax threshold for the year of assessment. There are also certain exemptions which exist that may apply to you.

Valued Added Tax (VAT) is an indirect tax added to goods and services to collect tax on behalf of the government. VAT is currently levied at 15%.
VAT is payable by individuals and business entities. We can assist with both your personal and company VAT submissions.

Employees’ Tax: PAYE, UIF and SDL returns, and IRP5 certificates Employees’ Tax (withheld or deductible amounts to be paid by an employer to SARS) includes: PAYE, UIF, SDL and/or ETI (Employment Tax Incentive), if applicable.

Deductions from an employee’s remuneration, payable to SARS. 

The Unemployment Insurance Fund (UIF) provides short-term funding to individuals who cannot work due to unemployment, maternity, illness, or adoption leave.

The Skills Development Levy (SDL) is a levy imposed by the government to collect funding used to develop and improve employees’ skills.

An employer must prepare IRP5 or IT3(a) certificates annually for each employee. These certificates reflect the total amount of remuneration received and the total amount of deductions for the year of assessment. 

Reliable Tax Practitioners on Call

Most people see tax as, well, taxing. However, it need not be at all. When your tax affairs are handled correctly, you can enjoy considerable savings and even receive money back in the form of Tax Refunds.

Have Any Questions? Our tax practitioners would be happy to help!