Microlearning Course: Completing the ITR12
Duration: 4 hours
Price: R351.00
Microlearning Course: Completing the ITR12
Overview
Diane Seccombe guides through critical components of the 2024 ITR12 filing season, with a special focus on changes and updates relevant to both residents and non-residents. She helps understand tax rates, income inclusion, exemptions, deductions, and critical tax formulae necessary for proper tax filing.
Video Content
Key topics covered include:
1. Tax Rates and Formula
An overview of tax tables for various income brackets, capital gains inclusion rates, and relevant deductions such as retirement contributions and allowances.
2. Tax Residency
Clarification on how to determine your tax residency status using the ordinarily resident and physical presence tests, including details on ceasing residency and the impact of double taxation agreements (DTAs).
3. Non-Residents and Source of Income
Understand how non-residents are taxed on South African source income, including details on withholding taxes for dividends, interest, and capital gains on immovable property.
4. Trust Taxation
Comprehensive details on how trusts are taxed, the rights of trust beneficiaries, and the impact of the conduit principle.
5. Foreign Income and Dividends
Learn about the taxation of foreign income and dividends, including how to claim rebates for foreign taxes to avoid double taxation.
6. Exemptions and Allowances
Key exemptions available, such as the R1.25 million foreign remuneration exemption and how to claim tax relief on foreign pensions and annuities.
7. Crypto Assets
Insights into how SARS views and taxes cryptocurrency transactions, including revenue versus capital gains treatment.
8. Enhanced Renewable Energy Tax Incentives
Newly proposed incentives for businesses investing in renewable energy infrastructure, providing up to 125% upfront deductions for eligible assets.
This session is essential for anyone preparing to file their 2024 ITR12, whether you are a provisional or non-provisional taxpayer, a resident, or non-resident. By the end, you’ll have a clear understanding of how to approach your tax filing for this year, making it a valuable resource to ensure compliance and optimise your tax outcome.
Competencies Developed
- Updated with the current law and SARS practice impacting taxpayers during the 2024 filing season.
- Competent to advise clients on the compliance and documentary evidence requirements applicable to the 2024 filing season.
- Confident to train your staff about the current law and SARS practice applicable to the 2024 filing season.
- Informed about topics to include in a client communique to alert your clients about current law and practice impacting 2024 filing season obligations.
What's Included:
Practical Guidance: Completing the ITR12 - session 1
Overview This video series on Practical Guidance: Completing the ITR12, equips tax professionals with the latest insights and practical tools to complete the ITR12 tax return accurately. Led by Diane Seccombe, the video series covers crucial updat es for residents and non-residents, tax rates, deductions, trust taxation, and crypto asset treatment, ensuring compliance for the 2024 tax season. Content Session 1 This session covers the foundational aspects of ITR12 filing, focusing on: Tax rates and the tax formula. Determining tax residency status. Filing for both residents and non-residents. Managing foreign income, exemptions, and deductions. SARS exchange rates and foreign currency treatment. Session 2 The second session delves into more specialised topics: Tax implications for married couples. Crypto assets and their taxation. The taxation of trusts and the conduit principle. Renewable energy tax incentives for businesses. Enhanced deductions and updated capital gains treatments. Competencies Developed Understanding and applying current tax rates and deductions. Determining tax residency and handling foreign income. Navigating SARS exchange rates and completing foreign income disclosure. Effectively managing crypto asset transactions for tax purposes. Mastering trust income taxation and its conduit application. Advising on renewable energy tax incentives for business investments.
4 Hours | R390.00
Diane SeccombePractical Guidance: Completing the ITR12 - session 2
