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“Efiling has become a very popular way of submitting or completing tax returns in South Africa” says Raimond Lamprecht of Lamprecht & Co Accounts. It is an easy and time saving process which is quick processing, anywhere-anytime filing, accurate data in return, no long queues and no personal interface.
Taxpayers can register for efiling for whatever tax returns they need with SARS with their own password and username. After an easy registering process they can download the necessary forms and complete it online. The completed forms can firstly be saved if you would like to make alterations to the return, or can be filed directly. They can then print the returns for personal filing although it will always be available on the SARS system.
Saving extra cash monthly is probably one of the hardest things to do, but it's the number one rule you must obey in order to be able to invest in assets and be able to build passive that will generate even more money.
We have compiled some quick tips in our February issue of WealthWise magazine to help you finally decide to save and open a savings account as a first step to your financial freedom.
How to free yourself from the debt trap 9.6 million credit active consumers had negative payment records in December 2009 according to the latest Credit Bureau Monitor Reports. Hundred of thousands of newly purchased cars are being re-possessed by the banks every month – proof of consumers still living beyond their means.
• Foreign income received by or accrued to an individual (natural person) who is a South African resident (resident);
• Income received by or accrued to an individual, who is not a South African resident (non-resident), from a source within South Africa; and
• The treatment of capital gains in the hands of a resident or a non-resident.