The Income Tax Act requires ALL Companies that uses any individual/company for services, to complete a Contractor Classification in order to determine whether they are of an Independent or Personal Service Provider nature. The outcome will further determine if tax should be withheld from them before their invoices are paid.
Many Companies neglect this Tax requirement and then faces penalties of up to 200% during SARS Audits as a result. Imagine a 200% penalty on all your supplier invoices, simply because you cannot prove that they are not a Dependent Service Provider. The Contractor Classification (per Interpretation Note 17 and 35) requires a tax specialist to conduct.
However, our legal team took all the complex requirements and converted it in easy and understandable questions. Simply complete the Secure Cloud Online Form and our system will generate an outcome indicating their Contractor Status, the tax that should be applied, and even an Affidavit for the Contractor to complete in order to mitigate the risk of the Company should a SARS Audit be conducted.
Compliance has never been this easy!! This product is a necessity for the following parties:
Accountants (for all their customers)
Chief Financial Officers / Financial Managers
Simply purchase your submission credits at our online store (bulk discounted orders allowed), then our Business Technology Consultants will forward your unique link to the Online Form. Should you want your firm’s own branding on the Tool, simply submit us a request and we can add this for a once-off fee (if you purchase more than 10 credits the branding is FOR FREE).
The form is based on a Pay-As-You-Use credit principle, you only pay per submission. The bulk discounts are as follows:
Amount of Credits Purchased in Bulk
Amount of Discount offered
For every 10 bulk credit purchases
For every 50 bulk credit purchases
For 100 or more bulk credit purchases
We want to make this purchase as fast and easy as possible for you. The process is as follows:
Checkout - Once you added this product to your cart and checked out, you will be redirected to the PayFast/PayPal page where you will be asked to select your Payment Method (EFT / Credit Card / Debit Card). Upon selection, you only have to insert your email address and you will be redirected to your Bank or asked for your Card details to finalize the transactions.
Info Collection - Once payment has been fulfilled, one of The Supremacy Group Consultants must allocate the credits and will then contact you within business hours and you will get an email with a link that allows you access to the Contractor Tool Form.
Customization - Should you want the Form to be customized with your Logo for your clients, please advise the Supremacy Group Consultant (subject to an additional fee).
Completion - After completion of the Contractor Tool Form, you will receive your submission in a pdf format and you will also receive an Outcome Report that indicates the formulated answers.