South Africa has the most complex tax laws of any country in the world - tax laws so complex it is common knowledge that even SARS have been known to struggle with many of their own tax calculations!
If you, as a tax practitioner, are only interested in submitting taxpayer's returns and you are not concerned whether your client's will get money back or have to pay in then SARS eFiling system will do you nicely. If however, you need to work out exactly how much tax your clients are due back as a refund, or exactly how much they will be required to pay in, then you need WinTax. If you need help with complex tax calculations to reduce your client's tax committment to the absolute minimum required by law then you will find WinTax absolutely invaluable!
Note that WinTax Pro now includes all the WinTax Admin Manager features! A multitude of search options on offer such as Search for assessments outstanding and the report shows why they are still outstanding; what you are still waiting for etc.
The Medical Aid Contribution claim calculator in WinTax is invaluable and easily handles the most complex medical aid contribution split scenarios. The calculator processes amounts on the IRP5 and automatically calculates your medical claims and enters your medical claims on the Deduction screen for you. You simply enter amounts from the IRP5 such as codes 3810, 4474, 4005, 4040, 4025 etc and WinTax shows your claims in an instant! WinTax will even examine the amounts you enter off the IRP5 for medical codes and warn you of possible errors!
Another invaluable addition to WinTax Pro and WAM is the Monthly Payslip and IRP5 Checker to verify medical code amounts on payslips and on IRP5's. The new medical laws are possibly the most difficult-to-understand tax legislation introduced in many years and SARS has passed the responsibility for getting these calculations correct onto employers.
Main Features :
- Assessment and provisional estimate calculators for personal taxpayers and Trusts.
- Tax review calculators and provisional estimate calculators for companies, cc's etc.
- Download free updates from our web site if SARS changes legislation, or if we add extra features during the tax year.
- Free software support. Lines open between 8am and 7pm 7-days a week.
- Save an unlimited number of assessments for Personal taxpayers, trusts and companies in the database.
- Import client data from last year's WinTax program (no need to retype all that data!)
- Full CGT calculator allows you to choose between valuation method, deemed value base cost and 80%/20% method to show differences. Cater for disposals of shares, primary residences, 2nd properties, other assets, small business disposal, partnerships, CoP, residency periods, loss limitation clauses etc.
- CGT Calculator may be used as a register for storing assets which may attract CGT in the future. WinTax will carry the purchase and other details of these assets forward year after year until a disposal triggers a CGT event.
- WinTax's medical claim calculators are known throughout the tax industry as being 100% accurate and correct - no matter how complex the scenario.
- Super-accurate Non-RF 15% limit for R/A contribution claims
- Travel Allowance claim calculator takes up to 9 cars per year per taxpayer. Caters for any scenario of records kept or not kept, allowance received or no allowance received.
- Taxation of lump sums catered for completely - especially with new legislation regarding the taxing, at tiered rates, of the aggregate of lump sums received from retirement funds since 1st October 2007.
- Check company car fringe benefit amount. Compare tax between company car and travel allowance.
- Caters for the most complex s6quat calculations.
- Check SITE & PAYE splits on IRPR's, tax amounts on monthly, daily, weekly Pay Slips, UIF, SDL, bonuses, partial periods etc.
- WinTax offers a variety of reports such as summary reports, full assessment reports, ITR12 reports, provisional estimate reports etc.
- All WinTax reports may be printed in English or Afrikaans either direct to your printer or viewed on your screen, exported to a word processor or spreadsheet and optionally edited before printing and/or emailed.
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