Vectigal Accounting

𝗗𝗜𝗬 𝗧𝗮𝘅𝗲𝘀: 𝗔 𝗖𝗼𝗺𝗲𝗱𝘆 𝗼𝗳 𝗘𝗿𝗿𝗼𝗿𝘀 1. The Mystery of Missing Receipts: It's like a treasure hunt, but instead of gold, you're searching for that one receipt from 11 months ago. Spoiler: It's never where you think it is. 2. The Puzzle of Tax Codes: Trying to decipher tax codes without a professional is like trying to solve a Rubik's cube blindfolded. Sure, you might get lucky, but are you willing to bet your finances on it? 3. The 'Creative' Deductions: Sure, you can try to write off your dog food as a "security expense", but you're pushing your luck. 4. The Procrastination Station: Doing your own taxes often means waiting until the last minute. And by 'last minute,' we mean frantically Googling "how to do taxes" while the clock strikes midnight on tax day. 5. The Audit Lottery: You might feel lucky, but when it comes to audits, you don't want to win this lottery. Professional accountants are like your lucky charm, keeping the audit boogeyman at bay. 6. The Software Saga: Tax software can be great, but it's not quite as savvy as a seasoned tax professional. It's like asking a calculator to write a novel; it's just not equipped for the plot twists of tax law. 7. The Time Sink Hole: You thought it would take an hour, but somehow you've aged five years and developed a caffeine dependency in the process. Remember, taxes are no joke, but your attempts at doing them might be. Save yourself the drama and let a professional take the lead. We've got the know-how, the experience, and most importantly, we actually enjoy this stuff! Contact Vectigal Accounting today for all your tax and accounting needs, both for individuals and businesses. https://lnkd.in/dvtkCeyz

"To honour our heritage is to pay homage to the origins of our unique story." 𝗛𝗮𝗽𝗽𝘆 𝗛𝗲𝗿𝗶𝘁𝗮𝗴𝗲 𝗗𝗮𝘆 𝗦𝗼𝘂𝘁𝗵 𝗔𝗳𝗿𝗶𝗰𝗮 #VegtigalAccounting #HeritageDay #SouthAfrica #Potchefstroom #Bookkeeping #Accounting #CompanyRegistration #Tax

The South African Revenue Service (SARS) has received a total 161,607 tax directive applications with a preliminary amount of R4.1bn applied for in two pot system between 1 to 10 September 2024. Allan Gray talks about the new two pot system and shares at a high level what this involves: 1. Whether the new rules improve or worsen the preservation rules of your retirement fund 2. The risk of withdrawing from – and worse, depleting – your savings component before retirement 3. The risk of treating and investing your savings component like a shorter-term investment 4. The fact that the new rules alone do not ensure an appropriate and sustainable income in retirement. Be sure to read the full article from Allan Gray here: https://lnkd.in/d9ebSnZx And to see the media release from SARS, click here: https://lnkd.in/d7Jix6tN Need help with accounting or tax for your business, call Vectigal Accounting today. Contact us for a consultation to find out how we can assist you. info@vectigal.co.za | 076 051 6559 | www.vectigal.co.za

𝗣𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗔𝘀𝘀𝗲𝘁𝘀: 𝗧𝗵𝗲 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗧𝗿𝘂𝘀𝘁𝗲𝗱 𝗧𝗮𝘅 𝗣𝗿𝗮𝗰𝘁𝗶𝘁𝗶𝗼𝗻𝗲𝗿𝘀 In the current climate, where fraudulent activities are increasingly sophisticated, taxpayers are facing a barrage of scams. One prevalent scam involves letters falsely claiming money is owed to the South African Revenue Service (SARS). These communications are designed to deceive and defraud individuals, posing a significant risk to personal assets. Vectigal Accounting emphasizes the importance of safeguarding your financial information and assets. With a rise in reported incidents, SARS has issued warnings about these scams, urging the public to be vigilant and sceptical of any communication suggesting tax refunds or outstanding payments. It's crucial to verify the authenticity of such messages and avoid clicking on any links or providing personal information. By engaging with a trusted tax practitioner like Vectigal Accounting, you can ensure that your tax matters are handled securely and professionally. We serve as a reliable intermediary between you and SARS, ensuring that your tax affairs are in order and your assets remain secure. Remember, it's always better to be cautious and consult with professionals when dealing with tax-related communications. Vectigal Accounting stands ready to assist you in these challenging times, providing peace of mind and security for your financial well-being. For more information on how to protect yourself from tax scams, visit the official SARS website.

Het jy hulp nodig met jou belasting? Ons is 'n span belastingkundiges en is 'n geregistreerde belastingfirma. Stel ons aan om jou te help met jou belasting. Leer meer hier 👉 https://lnkd.in/eAXkq7fx #Tax #TaxSeason #Belasting #SARS

𝗦𝗮𝗳𝗲𝗴𝘂𝗮𝗿𝗱𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗙𝗶𝗻𝗮𝗻𝗰𝗲𝘀: 𝗥𝗲𝗰𝗼𝗴𝗻𝗶𝘇𝗶𝗻𝗴 𝗮𝗻𝗱 𝗔𝘃𝗼𝗶𝗱𝗶𝗻𝗴 𝗦𝗰𝗮𝗺𝘀 𝗮𝗻𝗱 𝗣𝗵𝗶𝘀𝗵𝗶𝗻𝗴 In an age where digital transactions are commonplace, the threat of scams and phishing attempts looms large. Vectigal Accounting is committed to educating our clients on how to recognize and protect themselves from such fraudulent activities. Useful Points: 1. Be Cautious with Emails: Scammers often use emails to trick individuals into providing personal information. Always verify the sender and avoid clicking on suspicious links. 2. Protect Personal Information: Your personal, tax, banking, and eFiling details are valuable. Do not share them unless you are certain of the recipient's authenticity. 3. Stay Informed: Keep up-to-date with the latest scam examples provided by the South African Revenue Service (SARS) to recognize new tactics used by fraudsters. 4. Report Suspicious Activity: If you encounter a potential scam or phishing attempt, report it immediately to the appropriate authorities. SARS provides channels for reporting such activities. Awareness is the key to preventing scams and phishing. By staying informed and vigilant, you can protect your financial well-being and personal information from the hands of cybercriminals. Remember, if something seems too good to be true, it probably is. Always double-check and stay safe. For more detailed information on scams and phishing, visit the SARS official website.

𝗪𝗵𝗮𝘁 𝗶𝗳 𝗺𝘆 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗿 𝗱𝗶𝗱𝗻’𝘁 𝗴𝗶𝘃𝗲 𝗺𝗲 𝗮𝗻 𝗜𝗥𝗣𝟱 𝗼𝗿 𝗜𝗧𝟯(𝗮) If you find yourself in a situation where your employer has not provided you with an IRP5 or IT3(a) certificate, don't worry, there's a procedure to follow. You should first request the certificate from your employer. If they fail to provide it, you can use your payslips to complete your ITR12 return. However, you'll need to visit your nearest SARS branch or contact their call center for guidance on the steps to take. Be prepared to provide your payslips, bank statements showing salary deposits, and details about your employer. This process is applicable if your employer is insolvent, untraceable, deceased, or not registered for PAYE. https://lnkd.in/dSSNfrzY

𝗛𝗼𝘄 𝘁𝗼 𝗰𝗼𝗻𝗳𝗶𝗿𝗺 𝗶𝗳 𝗧𝗮𝘅 𝗣𝗿𝗮𝗰𝘁𝗶𝘁𝗶𝗼𝗻𝗲𝗿 𝗶𝘀 𝗿𝗲𝗴𝗶𝘀𝘁𝗲𝗿𝗲𝗱 Verifying the registration of a Tax Practitioner with SARS has been streamlined for ease and accessibility. Now, individuals and businesses can quickly confirm the registration status of their Tax Practitioner through SARS' dedicated online portal. This efficient process ensures that Tax Practitioners are accountable and clients are informed. For a step-by-step guide on how to check the registration status of a Tax Practitioner, visit the SARS eFiling website. Remember, a registered Tax Practitioner is a credible ally in managing your tax affairs. https://lnkd.in/dGWjVtB

𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝗦𝗔𝗥𝗦 𝗲𝗙𝗶𝗹𝗶𝗻𝗴: 𝗥𝗲𝗳𝘂𝗻𝗱 𝗮𝗺𝗼𝘂𝗻𝘁 𝗮𝗻𝗱 𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗱𝗮𝘁𝗲 If you're looking to find out your refund amount and payment date or the due date for any amount you owe, eFiling provides a straightforward way to access this information and can be seen on the ‘Notice of Assessment’ (ITA34). Here's a simplified breakdown: 1. Refund Amount and Payment Date:   - On your 'Income Tax Statement of Account' (ITSA), look for the 'Electronic refund' label.   - The date next to this label is when you can expect the refund in your bank account.   - The 'Transaction value' column will show the refund amount if applicable. 2. Payment Due Date for Amount Owed:   - Check your 'Notice of Assessment' (ITA34) for this detail.   - Under the 'Details' section, you'll find the payment due date. Remember, these documents are easily accessible through your SARS eFiling portal, ensuring you stay informed and up-to-date with your tax obligations. Happy filing! https://lnkd.in/df787mja

In the dynamic world of business, staying informed about legal compliance is crucial. Vectigal Accounting recently benefited from an engaging session on the Protection of Personal Information (POPI) and Promotion of Access to Information Act (PAIA), hosted by ProBeta Training at Akhanani Training. This session was particularly tailored for small to medium-sized businesses, emphasizing the importance of understanding and implementing these regulations to safeguard personal information and promote transparency. Such knowledge is not only a legal requirement but also a significant trust factor for clients in today's digital age. At Vectigal Accounting, we work effectively to ensure that you are available to run your business efficiently. Accounting and Financial Services Taxation Services Company Administration (CIPC) Payroll and HR Contact us for a consultation to find out how we can assist you. info@vectigal.co.za | 076 051 6559 | www.vectigal.co.za