Commission Earners & Tax

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
Requirements
No prior experience needed
little to no knowledge on Tax
Description
****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 earnerRemuneration subject to PAYE, on the payment basisHow to apply for a tax directiveTypes of expenses claimed as deductionsReduction in commission income due to Covid-19 lockdownsFormulas for Calculating Tax on CommissionAggregated Annual Taxable IncomeTax DirectiveAnnualised Amount of Tax PayableHome office deductions and lockdownHome office deductions and the impact on Capital Gains TaxHow to complete your income tax returnMaintaining an income statementClaims against Travel Costs and the importance of a Travel Log BookCaution in accepting Auto-assessments from SARSAll Included:Vide presented courseDownloadable course materialCertificate of trainingSAIT Accredited - 4 verifiable CPD points------------------------------------About the Presenter:Ruzel van JaarsveldShe 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.
Overview
Section 1: Commission Earners and Tax
Lecture 1 Introduction
Section 2: Commission Earners and Tax
Lecture 2 Part 1
Lecture 3 Part 2
Lecture 4 Part 3
Lecture 5 Part 4
Professional individuals,Sole Proprietors,Independent contractors,Business owners,Accountants


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