Every year, tax season comes around before you realise it. For many individuals, it is a process that they dread to go through – often because of uncertainty and the fact that tax rules are regarded as something to be understood and used only by practitioners and accountants.
We offer a session aimed at discussing and explaining the process of completing your tax return as an individual, based on the rules that govern your taxes from the Act.
This session will address matters including, but not limited to, the following:
• The relevant income and expenditure items that might be applicable to individuals, where they originate from in the Income Tax Act, as well as how they fit into the tax return, such as
o Types of income that will be taxed, as well as those that will not be taxed (remuneration, investment income, trading income)
o Deductions, rebates and credits available to individuals (including deductions against allowances and assessed losses)
• Special considerations for taxpayers married in community of property
• Special considerations for capital gains taxes
• A brief coverage of the administrative rules and the responsibility of individuals regarding submissions
• Please note that this session will not be a practical session on e-Filing itself
