Contact info
T : 012 997 0515 | 012 997 0924
E : info@leofin.co.za


Services

Tax

Leofin Accountants provide annual taxation services to individuals. Once we receive the relevant information, we completed the calculation and discuss the outcome before submission of the return.

We will also suggest changes to your current salary structure if there are any areas there you may benefit from.

Payroll

Leofin Accountants provide a payroll service for monthly and weekly payroll cycles, including the production of monthly reports and we offer the alternative of security-sealed or electronically delivered payslips.

In addition, we provide a full end of tax year service including the production of all statutory employer and employee information

Bookkeeping

Why employ a full time bookkeeper when you can cut your costs and outsource your financial department to experts? Leofin Accountants provide a monthly bookkeeping service to clients. Monthly management accounts are provided that will keep you well informed at all times. We assign a dedicated consultant to each client, ensuring that you have a single point of contact for all your accounting needs.

Wills and Trusts

Estate planning is an essential part of personal financial planning. Changing personal circumstances as well as a changing legislative and financial environment make it vital for everyone to look carefully at the way their affairs are ordered. We at Leofin Accountants know that estate planning is complex. Overlooking or neglecting any aspect thereof can create problems in the future. To prevent this, we have advisors who ensure that estate plans comply with legal and personal requirements.

Accounting and Advisory Services

Compiling of annual financial statements in order to comply with statutory law as well as the review of financial statements.

Leofin Accountants also provide:

• Preparation of management accounts
• Help with financing decisions
• Analysing your business results
• Advice on improvements

New Registrations

Leofin Accountants also specializes in new Company Registrations and Registrations with SARS for Income Tax, VAT, PAYE, UIF as well as registration with the Compensation Commissioner


Do you have Questions?

Why should I register for Value-Added Tax (VAT)?
You should register for VAT if you intend participating in the VAT system. However, before you register you must carry on an enterprise and you must meet, either the compulsory or the voluntary monetary registration threshold requirements. To register on the compulsory basis, you must carry on an enterprise and the value of your taxable supplies (excluding VAT) must either exceed R1million in a 12month period or if you have reasonable grounds to believe that your taxable supplies will exceed R1million. To register on the voluntary basis you must carry on an enterprise and the total value of your taxable supplies must have exceeded R50 000 in the past period of 12 months.
When is my VAT payment due?
VAT payments are due by the 25th day of the first month commencing after the end of the tax period, for businesses who file their returns and make payments electronically. For eFiling it is the last business day of the month after the end of the tax period.
Why must I register for Income Tax?
If your earnings for a given tax year are above the tax threshold, you are obliged by law to register for income tax. If you are an individual who is younger than 65years and earned more than R R63,556 in the 2013 tax year, you must register for income tax. And so should an individual who is 65 years and older and earned R99, 056. The amount increases to R110, 889 if you are older than 75years.
Do I need to submit my logbook and in what format do
I need to compile the logbook?
Yes, you need a log book to support your claim for expenses related to an employer-provided vehicle. However, you do not need to submit the log book with your ITR12 return. The log book must be maintained and retained with other relevant material for a period of five years from the due date of submission. Link to Logbook: www.sars.gov.za