Basic Tax Calculations and Returns
Presenters : Doubt Moyo
Overview
This webinar provides a practical and accessible introduction to basic tax calculations and the completion of tax returns for bookkeepers, finance professionals, and support staff involved in financial recordkeeping. Participants will gain a firm understanding of South Africa’s tax system, including the calculation of taxable income for individuals and sole proprietors, allowable deductions, fringe benefits, and the SARS submission process. Designed for professionals supporting tax-related functions, the session aims to boost confidence and accuracy in preparing compliant tax submissions.
Join Doubt Moyo as he unpacks the core principles and practical steps involved in tax calculations and returns. With his experience in accounting, taxation, and education, Doubt will walk attendees through key tax concepts, real-world examples, and best practices for ensuring accurate and timely submissions through SARS eFiling.
Learning objectives
By attending this webinar you will gain the following competencies:
• Understand the structure of the South African tax system and key tax types
• Calculate basic income tax for individuals and sole proprietors
• Identify allowable deductions, fringe benefits, and tax-free thresholds
• Complete and review ITR12 and ITR14 tax returns with confidence
• Use SARS eFiling effectively for accurate and timely submissions
Content
The webinar will cover the following topics:
-
Overview of the South African Tax System
o SARS legislation and tax administration framework
o Role of bookkeepers in compliance and reporting
o Taxpayer categories and filing responsibilities -
Types of Tax in South Africa
o Income Tax, Provisional Tax, PAYE
o Capital Gains Tax, Donations Tax, VAT, and Transfer Duty
o Turnover Tax and Dividends Tax -
Basic Income Tax Calculations
o Calculating taxable income for individuals and sole proprietors
o Understanding gross income, deductions, and taxable capital gains
o Using tax tables, thresholds, and rebates -
Treatment of Key Items
o Business expenses and retirement contributions
o Medical aid tax credits and donations
o Handling home office expenses and crypto transactions -
Tax Return Completion and Submission
o Understanding and completing ITR12 and ITR14 returns
o Required documentation and supporting records
o Avoiding common errors in tax submissions -
Navigating SARS eFiling
o Step-by-step guide to submitting returns online
o Best practices for login, accuracy, and recordkeeping
o Responding to SARS verifications and audit queries -
Ensuring Compliance and Accuracy
o Recordkeeping requirements and audit readiness
o Ethical responsibilities and consequences of non-compliance
o Using software tools and maintaining tax accuracy
