Overview

When a client with a micro business asks you about turnover tax, does it send chills down your spine? Many taxpayers and practitioners are put off by this simplified taxation method due to a lack of understanding of the intricate rules outlined by SARS for eligibility as a turnover taxpayer.

SARS provides an online test on their website to establish whether your client is eligible to register for this tax system. You can try the test out here: Do I qualify for Turnover Tax?

However, as easy as taking the test may seem, tax professionals need to understand the rules, terminology, and correct procedures to advise clients appropriately.

Webinar Content

The aim of this session is to discuss:

• Who qualifies for turnover tax?
• What are the accurate definitions of personal service provider, labour broker, and small business funding entity?
• How is turnover tax calculated?
• How does turnover tax interface/align with other tax types?
• What are some of the practical considerations for taxpayers registered for turnover tax?

Competencies developed in this webinar

At the end of this session, you will be able to successfully:

• Identify whether a taxpayer qualifies for turnover tax.
• Easily explain terms and definitions to clients:
  • Calculate the taxes payable.
  • Understand when and how the returns are submitted to SARS.
  • Comprehend the assessments issued based on 3% of a company’s taxable turnover.

Presenter

Carmen Westermeyer

BCom(Honours Accounting) [UND] CA(SA)

Carmen Westermeyer graduated in 2001 from the University of Natal, Durban (now UKZN), with a BCom Honours degree in Accounting and completed her articles with PwC, where she remained until 2006. She has been a member of SAICA since then.

In 2008, she started her academic career at UKZN, where she performed a number of functions, taking on the role of Academic Leader for Taxation. On leaving academia in 2013, Carmen has been providing training and consulting services to the profession. She has presented on behalf of various professional bodies, such as SAICA, FASSET, CSSA as well as providing in-house training to numerous accounting firms. The topics covered include all aspects of income tax, VAT, estate duty as well as the health levy (sugar tax). In addition, she regularly consults on tax matters as well as assisting with SARS disputes.

She is also the Chair of the SAICA Eastern Region Tax Committee, a member of the SAICA National Tax Operations Committee and is an Accounting Member of the Tax Court.

CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 1 hours of Tax CPD.

Event Investment

Free for Tax Technicians, Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price:  R230
• Special rate for SAIT members:  R184.00
• Group booking discounts available when you register for a group.

Payments and cancellations

• All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
• Kindly note that should payment not be received two days after the event, legal action will be taken.
• Proof of payment will be requested at registration if payment does not reflect in The Tax Faculty’s bank account.
• Only written notice of cancellation will be recognized.
• Conditions:
  • If the cancellation occurs more than four working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than four working days prior to the event, a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.