LEARN ABOUT TAXES

LEARN ABOUT TAXES

Taxpayer Education Workshops

Free tax education workshops are presented at most SARS branches across the country by the Branch Operations Engagement team. These workshops cover a wide range of topics and are presented on a regular basis.

The aim is to provide taxpayers with information that would create a basic understanding of  the various tax types, how these taxes work and what is expected of taxpayers in order to be tax compliant at all times.

There are many different types of taxes a person has to pay which include Sales Tax, Income tax, Property Tax, Estate Tax, Excise Tax etc. Some of the tax types are known to everyone while others are not common and tax payers find it difficult to comprehend them. Here is the explanation of two different types of taxes:

Estate taxes

The items which are considered part of the estate include; Cash, securities, insurance, real estate, and business interests. Estate Tax; is the tax on your right to transfer property at your death. This tax is questioned by many tax payers. Tax payers argue that this tax seems like a penalty for dying. This tax is levied on people whose income exceeds $5.34 million. Estate taxes are levied at federal level and state level. At federal level the highest percentage charged is 40%. At state level the rules of this tax are different. The rate of tax is lower and the exemption amount is also low.

Gift taxes

This is almost similar to estate tax, this is the tax levied on the transfer of wealth to someone as a gift, on company shares and cars. The Gift tax is given by one person to another living person. Federal government has a lower exemption for gist tax in comparison to estate tax. Gift taxes are paid by the receipt. All gift of more than $14,000 are taxable. The highest percentage on gift tax is similar to estate tax i.e. 40%.

My Tax Help MD provides the best IRS back tax help and tax settlement services and make the life of its clients easy and relaxed. Having a team of professional tax consultants, we provide diverse IRS tax debt relief service. You can tell us your tax problems and we will come up with the best possible solutions for them.

MOBILE UNIT FUNCTIONS

What services do the Mobile Units offer and the documents needed? Register as a taxpayer and updating or changing bank details:

  • Certified copy of your Identity Document / Passport /Driver’s Licence
  • Original Bank Statement (stamped by the bank)
  • Original Proof of Address

Please note: All these should be in your name and not older than 3 months.

Submit an Income Tax Return:

  • IRP5/IT3(a) certificates
  • IT3(b) certificates in respect of Investment Income
  • Medical Aid certificates and receipts as confirmation of payment
  • Retirement Annuity Fund certificates
  • Travel logbook (receipt of a travel allowance)
  • Any other documentation relating to income received or deductions you want to claim
  • Proof of Identification (identity document /passport / driver’s licence)
  • If married in community of property – spouse’s identity number.

For small businesses:

  • CK Documents 14.1 ,14.3 and 15.1
  • Proof of business address
  • Proof of personal / individual’s address
  • Bank statement or letter
  • Certified ID copy
  • Letter appointing public officer.

Mobile Tax Units (February 2018):

Tax workshops per province (January to March 2018):

Eastern Cape

Free State

Gauteng

KwaZulu-Natal

Limpopo (February & March 2018)

Mpumalanga

Northen Cape

North West

Western Cape

For more information please contact our support term at info@fyionline.co.za

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