Introduction to TAX in South Africa

Workshop dates:

Johannesburg:  For future dates email customerservice@norcazacademy.co.za
Pretoria:  For future dates email customerservice@norcazacademy.co.za
Durbanville, Cape Town:  For future dates email customerservice@norcazacademy.co.za
Durban North: For future dates email customerservice@norcazacademy.co.za

Course Fee: 

Single : R8,500.00 (R9,690.00 incl. VAT)

In-House Training sessions: available on request – send an e-mail with specifications to admin@norcazacademy.co.za

 

 

Introduction

This comprehensive programme aims to outline the many different forms of South African Tax, including Income Tax, VAT, Donations Tax, Estate Duty, and more.  With all the recent changes in legislation, and with regard to the New Companies Act and the New Tax Administration Act – Income Tax and / or Value Added Tax (VAT) consequences have to be considered in respect of all transactions, p-r-i-v-a-t-e or business.  Both senior managers of business entities and advisors from all fields are at risk if they do not have a proper understanding of the basic principles of taxation.

This three-day programme will give an introduction to all aspects of Taxation in South Africa with the aim to simplify tax issues for those who are working with Tax matters within corporate companies and those who are self- employed to enhance their knowledge of taxation.

Who Should Attend?

This course is suited for anyone who wants to gain knowledge and understanding within the field of Taxation.
The workshop will not only assist participants in dealing with taxation matters in their own firms more proficiently, but it will also give them enough knowledge to identify possible issues that may exist with clients.

Programme Outline
What is Tax?
  • Tax in the economic context
  • purpose and effect
  • General discussion on concepts like Tolling, Environmental taxes, fuel levy etc.
Differentiate between Tax payers
  • Individuals
  • Business
  • Resident
  • Non resident
Types of Taxes
  • South African Revenue Services (SARS) – central administration for all taxes
  • Direct taxes
  • Income Tax
  • Tax on Income
  • Tax on Capital Gains (CGT)
  • Dividend Tax
  • Withholding tax
  • Estate Duty
Indirect Taxes
  • Value-added Tax (VAT)
  • Transfer Duty
  • C-u-s-t-o-m-s and Excise Duty
  • Other
Application
1.  Individuals
  • Progressive Tax and Marginal Tax
  • Negative Tax or grants
2.  Companies
General Obligations
  • Obligation to collect and pay tax from Individuals (payroll)
  • Definition of Employee
  • Contract workers
  • Vat
  • Company tax- concepts
  • Taxable profit
  • STC
  • Capital gains
Company Tax in practice
  • The income statement and balance sheet explained
  • Operating Income
  • Depreciation
  • The implication of owners’ equity or borrowings
  • Buy v Rent
  • Non-operating Income
  • Capital gains
Tax management and the law
  • Avoidance v Evasion
  • Legislation
  • Paying over of taxes
  • When due and payable
  • Actual payment process
  • Providing and recoupment
       
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