What you'll learn
- Remuneration subject to PAYE, on the payment basis
- How to apply for a tax directive
- Types of expenses claimed as deductions
- Formulas for Calculating Tax on Commission
- How to complete your income tax return
- Claims against Travel Costs and the importance of a Travel Log Book
- No prior experience needed
- little to no knowledge on 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
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
Vide presented course
Downloadable course material
Certificate of training
SAIT Accredited - 4 verifiable CPD points
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.
Who this course is for:
- Professional individuals
- Sole Proprietors
- Independent contractors
- Business owners
Being from Bizfacility Financial training for over 10 years of providing training to accountants, bookkeepers and various business owners and companies, we also offer self-study courses to provide value adding knowledge, skills and tools through remote training and engagement that enables you to become more financially skilled.
We offer a variety of self- study courses, packages to provide understanding of all aspects of Bookkeeping, Accounting, Financial instruments, Management Accounting and Financial procedures that are essential for the running of a business.
As finance is a universal language, all online courses offered through UDEMY, are useful to anyone in the world as it complies with IFRS (International Framework of Reporting Standards) and does not include any country specific vat or tax content.