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....
Accountant Explains: Where To Find Sars Statement Of Account & How To Re...
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Unveiling SARS Statement of Account: A Complete Guide
Navigating the labyrinth of SARS statement of account can be daunting. Learn how to demystify it and access vital tax information with ease.
The Importance of SARS Statement of Account
Before delving into the depths of SARS statement of account, it's crucial to first understand its significance. The statement provides a comprehensive overview of the taxes owed, indicating outstanding amounts and showing payment deadlines for various tax types such as VAT, PAYE, and SDL.
Navigating the SARS Statement of Account
Once you grasp the importance, it's time to understand how to navigate the SARS statement of account. By accessing your e-filing profile in South Africa, you can conveniently view your statement online. In case of forgetfulness or technical constraints, a branch visit can help you obtain a physical copy.
Making Payments and Facilities
Now that you've accessed your statement, it's pivotal to comprehend the payment process. If the full amount appears daunting, you can arrange a payment plan with SARS. To make payment arrangement with SARS you can start the process on your e-filing profile. If you don't have access to e-filing you can visit a branch. You will be required to submit certain documents that include the profit and loss statement, balance sheet and six to twelve months bank statements before your application can be processed. If you are able to start paying immediately, it's crucial to ensure the correct PRN number is used for making payments, especially for manageable monthly amounts.
Challenge of Accessing SARS Statement
Undoubtedly, accessing the SARS statement of account may not always be a smooth ride. Customer service can be challenging to reach, leading to long wait times and disruptions. However, there are avenues such as online queries and visiting branches that can facilitate the process while avoiding unnecessary expenses.
Pro Tips for Business Owners
For business owners, the saga of SARS statement of account can be more intricate. By watching tailored videos, you can obtain insights into paying SARS debts and navigating the intricacies specific to business taxation.
Conclusion:
By understanding the significance, mastering the navigation, and being aware of the potential challenges, you can efficiently manage your taxes with SARS statement of account and avoid any unnecessary roadblocks.
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