Commission Earners & Tax

****Please note that this course is based on South African Tax****

Does 50% or more of your total remuneration consist of commission earned?

Did you know that as an employee, you are entitled to claim business expenses against commission income recorded under code 3606, should it be more than 50% of the total remuneration on the IRP5?

Not sure what business expenses to claim?

In many ways, the deductions for business expenses available to these commission earners are similar to those available to individuals who are sole proprietors or independent contractors.

During the course the following Topics are covered:

• Who is a commission earner

• Remuneration subject to PAYE, on the payment basis

• How to apply for a tax directive

• Types of expenses claimed as deductions

• Reduction in commission income due to Covid-19 lockdowns

• Formulas for Calculating Tax on Commission

  • Aggregated Annual Taxable Income

  • Tax Directive

  • Annualised Amount of Tax Payable

• Home office deductions and lockdown

• Home office deductions and the impact on Capital Gains Tax

• How to complete your income tax return

• Maintaining an income statement

• Claims against Travel Costs and the importance of a Travel Log Book

• Caution in accepting Auto-assessments from SARS

All Included:

• Vide presented course

• Downloadable course material

• Certificate of training

• SAIT Accredited - 4 verifiable CPD points

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About the Presenter:

Ruzel van Jaarsveld

She has over 23 years financial and bookkeeping experience, working with many industries and corporate environments, with extensive knowledge and practical application of trial balance, payroll, VAT, PAYE returns, Inventory control, Management Accounts, E-filing and Procedures of Importing and Exporting.

She is a seasoned appointed facilitator with Biz Facility, and for numerous years has been presenting various national practical financial workshops to business owners and corporate financial staff.