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Can a self-employed person get a home loan in South Africa?

 How to get a home loan when you are self-employed Can a self-employed person get a home loan in South Africa? The simple answer is yes. But the bank or the financial institute will have certain requirements that self-employed person has to meet.  These are similar to the rules that registered companies must follow. The moment you earn an extra income, the South African Revenue Service sees it as a business income and you are expected to have financial statements and pay taxes.  Before you apply for a home loan, first find out what amount you qualify. Determine exactly what the bank would need from you before you apply. This would speed up the process and the bank doesn't have to wait for outstanding documents that you probably don't have and still have to search for. If you're applying for a home loan as a self-employed person , then these tips can streamline the process and increase your chances of approval. These are the things to do before you apply for the home loan....

6 Tax affairs that you can manage using Sars efiling in 2023

 

6 Tax affairs that you can manage using Sars efiling



Sars efiling | Sars tax returns 2023| Tax filing season 2023


Once you have signed up and logged in, you can start using SARS eFiling to manage your tax affairs. Here's an overview of how it works:


1. Tax returns: SARS eFiling allows you to complete and submit various tax returns, such as income tax, value-added tax (VAT), and payroll taxes. You can access the relevant tax return form, fill in the required information, and submit it electronically.


2. Supporting documents: You can upload supporting documents, such as IRP5/IT3(a) certificates, medical aid certificates, and proof of deductions, along with your tax return.


3. Payments: SARS eFiling provides secure payment options for tax liabilities. You can make payments using electronic funds transfer (EFT), credit or debit cards, or via the SARS MobiApp.


4. Correspondence: Through the eFiling platform, you can receive and respond to correspondence from SARS, including notices, queries, and audit requests. It simplifies communication between taxpayers and SARS.


5. Tax calculations and assessments: SARS eFiling offers tax calculators and tools to assist in estimating tax liability and understanding the tax assessment process. You can view your assessment outcome and respond if necessary.


6. Account management: The platform enables you to manage your tax profile, update personal details, register for additional tax types, and view your tax compliance status.


It's important to note that SARS eFiling provides a secure environment for taxpayer information and transactions. It utilizes encryption and authentication protocols to safeguard sensitive data. However, it's always advisable to follow best practices for online security, such as keeping your login credentials confidential and regularly updating your password.


If you encounter any issues or have specific questions regarding SARS eFiling, it's recommended to visit the official SARS website or contact their support channels for assistance.

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