Knowledge Centre

Stay compliant with SARS while paying the minimum legal tax — and no more.

Tax Returns and Tax Planning

1. What You Need to Know 

Tax isn’t just a formality — it’s a strategy. 
Every business and individual must submit accurate returns to SARS. But beyond filing, tax planning helps structure your income, expenses, and investments to minimise liability legally. CBAPs combine compliance expertise with strategic advice.   

2. Why It Matters to You 

Smart tax management saves you money and reduces risk. 
Avoids penalties, audits, and SARS disputes. 
Ensures you claim all allowable deductions. 
Improves cash flow through tax-efficient structuring. 
Builds peace of mind knowing returns are correct. 

3. Frameworks, Standards, or References 

Tax returns and planning are governed by law and best practice. 

  • Laws & compliance: Income Tax Act, VAT Act, Payroll legislation. 

  • Frameworks: Annual tax planning cycle, provisional tax forecasting. 

  • Standards & ethics: IFAC Code of Ethics (acting in client’s best interest). 

  • What your accountant will actually do: 

  • Prepare and file personal, company, VAT, and payroll returns. 

  • Review your affairs for allowable deductions and credits. 

  • Forecast future liabilities to avoid cash crunches. 

  • Advise on structuring business or investments tax-efficiently. 

4. How to Apply  

Steps to manage your tax properly with an accountant: 

  1. Keep records of all income and expenses. 

  2. Provide your accountant with required documentation. 

  3. File monthly, provisional, and annual returns on time. 

  4. Review your tax plan annually to adapt to law changes. 

  5. Implement tax-efficient structures (where legal and appropriate). 

5. Common Mistakes to Avoid 

Avoid these costly tax pitfalls: 

  • Filing late and paying penalties. 

  • Ignoring provisional tax. 

  • Missing out on deductions you qualify for. 

  • Overpaying because of poor structuring. 

9. Need Help? 

Still stuck? We’re here to help. 

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