By Clinton Forlee (Group Director)
Due to the erratic income of many commissions earners, it is important to obtain Tax Directives annually as a means to smooth out PAYE deductions, and thereby enhancing cashflow. Tax Directives are obtained from SARS, and must be renewed annually after the new Tax Rates are announced in the Budget Speech. To assist you (and your friends) in this process, we have compiled an ‘Income & Expenditure’ spreadsheet which you can use to plot out your expected income/expenses for the next Tax Year. The spreadsheet can also be used as a useful Budgeting Tool. You can find the spreadsheet in the link below.
Once you have used the spreadsheet above to estimate your Taxable Income for the year, you can use our Tax Calculator below to confirm the Annual Tax Payable thereon.
All that is required thereafter is to submit an Application for Tax Directive to SARS based on the information above. This should ideally be attended to by an accountant – if you would like for FinServe to attend, please be sure to make contact with us or mail myself directly on firstname.lastname@example.org.