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GLOSSARY


What is a tax deduction? 04 Feb 2023    •    T What is a tax deduction?

What are trade creditors? 25 Mar 2023    •    T What are trade creditors?

What are trade debtors? 25 Mar 2023    •    T What are trade debtors?

What is a trial balance? 04 Feb 2023    •    T A trial balance is a statement of all the debits and credits in the double-entry accounting system. If the trial balance doesn’t balance, then there is an error in the bookkeeping.

What is Tax Preparation and Planning? 23 Mar 2023    •    T What is Tax Preparation and Planning?

What is a Tax Practitioner? 24 Mar 2023    •    T A Tax Practitioner is a natural person who provides a tax preparation, planning and submissions service on behalf of third parties, for reward.

What is a Tax Return 10 Aug 2023    •    T A Tax Return is submitted to a tax authority to make the required declarations as per the various tax acts.

Income tax calculator for Individuals 2023/2024 20 Aug 2023    •    T Most income tax calculators leave out some of these variables from the formula when calculating tax payable or refundable. This is why it is preferable to use the services of a tax practitioner.

Trust Tax rate and accounting for Trusts 18 Oct 2023    •    T The taxation of Trusts is at a flat rate in South Africa. Any profit that is distributed is taxed in the hands of the beneficiaries.