PART-TIMEIncome Tax ReturnsSaturday or Monday & Wednesday evening classes

About this programme

This Institute of Certified Bookkeepers (ICB) “Income Tax Returns” module, presented at Unigrad College, is part of the National Diploma in Technical Financial Accounting (NQF Level 5).

This module involves a thorough study of taxation. You will be able to compute taxable income and tax payable for individuals and businesses, submit tax returns, acquire a working knowledge of estate duty and provide taxation planning advice to clients.

Module outline

Introduction to income tax and tax terminology

5
The income tax act, types of tax, tax rates, tax rebates and tax thresholds
5
Formula for calculating income tax

Gross income

5
Types of income and gross income special inclusion
5
Fringe benefits, sale of assets, dividends, key-man insurance policies and recoupments

Exempt income

Allowable deductions

5
General deduction formula
5
Special deductions
5
Capital allowances
5
Building allowances
5
Prohibited deductions

Fringe benefits and allowances

Employee’s tax and provisional tax

5
Difference between SITE and PAYE
5
SDL, UIF, EMP201 return for SARS and tax certificate & EMP501 reconciliation
5
IRP6 tax return and provisional payment

Taxation for non-residents

Taxation of business entities

5
Sole proprietorships, partnerships, companies & close corporations
5
Dividend tax, value extraction tax, trusts and taxation of trusts

Turnover tax, capital gains tax and donations tax

Completing tax returns

Estate duty

SARS and the Tax Practitioner

Programme duration 

  • 15 weeks (Saturday morning or Mon & Wed evening classes)