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Sep 17, 2024 · After you have completed an application, you will be able to obtain a simulated tax directive. On the application form, the following question will be displayed ‘ Which directive do you require? Indicate ‘ Simulation’ or ‘ Actual’ .
Intermediaries can request tax simulations for clients at retirement or withdrawal stage. Once an actual tax directive is requested it cannot be cancelled and The South African Revenue Services (SARS) has always applied this strictly.
The purpose of the tax directive simulation is to receive a simulated (illustrative) response from SARS in terms of the tax to be deducted from the lump sum. It gives an estimate of the tax to help you and your client make an informed decision when selecting an option.
2 days ago · Step 1: Before testing can commence, you will need to email 10 taxpayer reference numbers to ncts@sars.gov.za to ensure the numbers are active. In the email subject line, use “Tax reference numbers for Trade Testing”. A maximum of 10 taxpayer reference numbers will be allowed.
Apr 18, 2023 · Enter the tax directive simulation, which can accurately simulate the tax payable by a client, based on all their previous withdrawals recorded by and available from SARS. Why is a tax...
TABLE OF CONTENTS. 1. SUMMARY. 2 INTRODUCTION. 3 WHO MUST COMPLETE AND SUBMIT A TAX DIRECTIVE APPLICATION. 4 HOW TO OBTAINA TAX DIRECTIVE APPLICATION FORM. 5 HOW TO SUBMIT A TAX DIRECTIVE APPLICATION. 6 REGISTRATION OF EFILING. 6.1 New eFiling Users. 6.2 Registered eFiling Users. 7 EFILING PORTFOLIOS. 8 RIGHTS GROUP FUNCTIONALITY ON EFILING.
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Sep 8, 2020 · A tax directive is simply an official instruction from SARS to your employer or fund manager to deduct tax at a set rate, determined by SARS for your individual case, and not the general income tax rates.
