Overview
This module comprises of three topics. Topic one covers the registration requirements for the main tax types as prescribed by the TAA (Tax Administration Act) read with the underlying Tax Acts, including VAT (Value Added Tax), PAYE (Pay As You Earn), and income tax as well as how to register for same in practice. Topic two looks at the duty to file tax returns in particular, what are the types of tax returns and when and how to file them, and the duty to keep records. Topic three covers the very important concept of assessments. The importance of understanding what an assessment is and the types of assessments cannot be overstated – notices of assessment are ultimately the thing that creates the obligation to pay tax. This module includes an analysis of pertinent case law on the relevant topics.
Course Expiration: Upon purchase of the course, you have access for 180 days. Please ensure you complete the course within this timeframe, as you will be denied access after this period.
What will you get access to
HD Video Recording and High-Quality Sound
Downloadable Discussion Content aka Slides
Applicable Caselaw Documents, Guides, and Notices available for download
What this Module consists of:
Topic 1 – Tax Registrations
Overview
This topic covers the obligation on taxpayers to register for taxes such as income tax, VAT and PAYE, and turnover tax when to register for these taxes and provides guidance on how to go about registering for these taxes.
Outcome
After completing this topic, you will know:
- What the TAA (Tax Administration Act) says about the obligation to register;
- Who is liable for registration for income tax, VAT (Value Added Tax), PAYE (Pay As You Earn), UIF (Unemployment Insurance Fund) and SDL (Skills Development Levy); and
- Where to go to find out what must be done to apply for registration and how to go about doing so.
Session Duration
34min
Topic 2 – Returns and Records
Overview
This topic covers who is required to file income tax returns, VAT (Value Added Tax) returns and PAYE (Pay As You Earn) returns in terms of the obligations set out in the TAA (Tax Administration Act). In addition, this topic covers the very practical issue of records retention, who is required to keep records, what records must be kept, how they must be kept, and for how long.
Outcome
After completing this topic, you will know:
- Who is required to file an income tax return;
- Where to check who is required to file tax return and by when;
- Who is required to file employees’ tax returns and VAT (Value Added Tax) returns; and
- Who must keep records, what and how records must be kept and for how long records must be kept.
Session Duration
52min
Topic 3 – Assessments and TP Registration
Overview
This topic covers assessments. In particular, the different types of assessments that can be raised, when they can be raised, how notice must be given to the taxpayer of the assessment, the importance of a notice of assessment as well as when assessments prescribe.
Outcome
After completing this topic, you will know:
- What exactly is an assessment;
- What exactly is an original assessment
- The difference between an assessment by SARS (South African Revenue Service) and a self-assessment by the taxpayer;
- When SARS (South African Revenue Service) can raise an additional assessment;
- When an assessment prescribes; and
- When SARS (South African Revenue Service)can lift the proverbial veil of prescription.
Session Duration
1h 35min
Important note:
All topics in this module including the overview must be marked as completed before you will be able to access the quiz. You need to score at least 80% on the quiz to be awarded a certificate of completion. The certificate of completion should entitle you to 4 hours verifiable output CPD.