Gear Accounting

Weet jy wat is die impak van jou ontrekking op die nuwe twee-pot-stelsel?

Exciting Opportunity: Accountant Position Available Are you passionate about numbers and have practical experience in accounting? Have you graduated, or are you still working towards your degree? We have the perfect opportunity for you! Diversify your skill set, learn from industry professionals, and grow your career in a supportive environment. What We’re Looking For: Enthusiasm to learn and grow in accounting Strong attention to detail Understanding of accounting principles Financial statement drafting skills Willingness to work as part of a dynamic team What You’ll Get: Competitive salary package Hands-on experience in a professional environment Mentorship and learning opportunities A chance to kickstart your accounting career before you graduate! Applications close on 25 September 2024. Apply today and start your journey toward a successful accounting career! E-mail your CV to susan@gearaccounting.co.za

Hierdie is Penny. Sy wonder waarom dit so lank vat vir haar SARS krediet om uit te betaal. Hier is die mees algemene rede: 1. Jou inkomstebelasting opgawe is geselekteer vir verifikasie of oudit. 2. Jou bankbesonderhede moet geverifieer word. 3. Jy het uitstaande opgawes. 4. Jy het uitstaande skuld. Jy het 21werksdae om die vereiste relevante dokumente by SARS in te dien. Daarna het SARS òòk 21 werksdae om die dokumente te verifieer. Die krediet moet binne 72uur nadat navraag afgehandel is, uitbetaal word. Het jy hulp nodig met jou belastingnavrae kontak Gear Accounting gerus! 📧info@gearaccounting.co.za ☎️022 433 4607 🌐www.gearaccounting.co.za

Tax Season is HERE and This is What You Need to Know About the 2024 SARS Auto-Assessment Important Dates: Auto-assessment notices: Monday, 1 July 2024 - Sunday, 14 July 2024 Tax season: Monday, 15 July 2024 - Monday, 21 October 2024 Certain taxpayers have already started to receive 2024 SARS auto-assessment notices via SMS or email. These assessments are automatically generated, but here's why you shouldn't just accept them blindly. What is a 2024 SARS Auto-Assessment? SARS has improved its AI technology to create a smoother tax season by generating automatic assessments based on data from employers, medical-aid schemes, and other third parties. While this sounds convenient, it's crucial to verify the information. Why You Shouldn't Just Accept It: Accepting the auto-assessment without checking can impact your tax refund. Incorrect information could lead to hefty penalties. Auto-assessments might miss tax certificates or deductions such as travel claims, home office expenses, donations, and medical expenses. How we at GEAR Accounting confirms Your Auto-Assessment: We review the details and ensure all your tax information is accurate and up-to-date. We check for missing deductions by manually capturing any deductions not included in the auto-assessment. Get it touch with Gear Accounting if you need any assistance with your TAX Submissions. #TaxSeason2024 #SARS #AutoAssessment #TaxTips #StayInformed #TaxRefund

Claiming home office expenses: Are you eligible? Curious about whether you can claim home office expenses on your taxes this July? Let's break it down for you! Requirements to claim home office expenses: According to Section 23(b) of the Income Tax Act, you can only deduct home office expenses if: 🏠 Your home office is regularly and exclusively used for your trade (e.g., employment) and is specifically equipped for that purpose. 💼 If your income is mainly from a salary, you must perform more than 50% of your duties in your home office. 📈 If more than 50% of your income is from commission or variable payments, more than 50% of your duties must be performed outside of an employer-provided office. What Counts as home office expenditure? Here are typical expenses that may be deductible: 🏠 Linked to the premises: • Rent • Repairs • Rates and taxes • Cleaning • Electricity Maintaining the home office: • Wear and tear on office items • Office equipment, furniture, and repairs • Phones and internet • Stationery Calculating home office expenses: To determine your deductible amount, use this formula: 📏 A / B x Total Costs where: A = Area (in m²) of your home office B = Total area (in m²) of your residence Total Costs = Expenses linked to the premises (excluding capital nature expenses) Ensure your calculation reflects the correct proportion based on your home office's floor area versus the total area of your home. Make sure you meet these criteria to maximize your deductions and ensure compliance with tax laws. FILING SEASON DATES: Auto-Assessment Notices: 1 – 14 July 2024 Individual Taxpayers (Non-Provisional): 15 July 2024 to 21 October 2024 Contact us for assistance with your tax return and available tax deductions this filing season. #HomeOffice #TaxDeductions #WorkFromHome #FinancialTips #TaxSeason

We are thrilled to introduce the newest member of the Gear Accounting family, our amazing Secretarial Officer! A little bit about Maritza Smit: Life Quote: "Do not wait for miracles to happen. The greatest miracle in life is life itself." Favorite Foods: Sushi and Hearty Butter Chicken - a perfect blend of flavors and culture! Hobbies: When Maritza isn't busy keeping everything in order at the office, you'll find them baking delicious treats, experimenting with new recipes in the kitchen, or indulging in some online shopping! We asked her what she would do with R5mil – Travel overseas and then buy a “Huisie by Die See” Join us in welcoming Maritza warmly! We are excited to have you on board and look forward to all the wonderful moments ahead.

Simplify your business payroll with Gear Accounting. Tired of juggling payroll tasks? Let us handle it for you! ↘ Accurate & On-Time Payroll Processing ↘Tax Filing & Compliance ↘Employee Benefits Administration ↘Customizable Payroll Solutions Spend less time on payroll and more time growing your business! Partner with us and experience stress-free payroll management. Contact us today to get started! 022 433 4607 info@gearaccounting.co.za

Get Your Finances in Perfect Shape with Us! 📈 Expert Tax Services & Financial Statement Audits 📊 At Gear Accounting, we specialise in optimizing your tax strategy and ensuring accurate financial reporting. Trust our seasoned pros to handle your financial complexities with ease! Visit our website for more detailed information. https://lnkd.in/d6VQrwcA #gearaccounting #tax #accounting #audits #financial #experts

Tax benefits & medical credits for individuals with disabilities in South Africa: 33.3% Claim: Get back 33.3% on qualifying medical expenses, including disability-related costs. Dependents Covered: Even if your dependent has a disability, you can claim related expenses. Criteria: Disability confirmed by a registered medical practitioner using the ITR-DD form. Docs Needed: Fill ITR-DD form & "Confirmation of Diagnosis of Disability" endorsed by a medical practitioner. Extra Credit: Enjoy an additional 33% tax credit on qualifying medical expenses. Eligible Expenses: Personal care, aids/devices, special education, modifications. Conclusion: These benefits ease financial burdens and enhance accessibility to crucial healthcare & support services for individuals with disabilities in South Africa. Stay informed: Consult SARS or qualified tax professionals. Additional Medical Expenses Tax Credit: Under Section 6B of the Act, individuals with disabilities are entitled to an additional medical expenses tax credit. This credit equals 33% of qualifying medical expenses paid by the person, including medical scheme fees exceeding three times the medical scheme fees tax credit. Expenses Eligible for Claim: • Personal Care Attendant Expenses: This includes salaries for caregivers, living-in expenses, and training costs for personal care attendants or family members. • Aids & Other Devices: Expenses related to aids, devices, and modifications to assets for the disabled are claimable. • Special Education Schools: Costs associated with special education schools, including school assistants, classroom costs, and school fees, are eligible for deduction. • Alterations or Modifications: Expenses for alterations or modifications to assets acquired or to be acquired to accommodate disabilities can be claimed.

Dreaming of tax relief and financial perks for your small business? SBC tax might be the key! 🚀 Here's what you need to know: ✅ Lower Tax Rates: Say goodbye to the standard 28% corporate tax rate! As an SBC, enjoy progressive tax rates tailored to your taxable income. ✅ Tax Deductions Galore: From capital allowances to research and development expenses, SBCs unlock a treasure trove of deductions, slashing your tax liability and boosting your bottom line. ✅ Streamlined Operations: Simplified accounting and administration procedures mean less hassle and more time for what you do best – growing your business! ✅ Enhanced Credibility: Gain trust and credibility with customers, showcasing your commitment to compliance and financial responsibility. ✅ Access to Incentives: Unlock access to various government incentives, fueling your business growth and expansion plans. Is your business eligible? Here's a quick checklist: 🔍 Shareholders: All shareholders must be individuals. 💰 Annual Income: Keep it under R20 million. 📈 Diverse Revenue: Ensure investment income doesn't exceed 20% of total receipts. 🚫 Personal Service Providers: Avoid offering personal services