Oschmann Accounting
Internal Audit in Cape Town

Oschmann Accounting business activities expanded to providing personalised accounting solutions, tax advise and structuring and internal audit services to the SME market over the years.
■Statutory Returns and Registrations; and.
■Registration and sale of legal entities;.
■Payroll and Human Resource Services;.
■Legal Bookkeeping (Attorneys & Estate agents);.
■Internal Audit;.
■Independent Reviews;.
■Financial statements;.
■Expatriate tax;.
■Company Secretarial Services;.
■Business Plans;.
■Business Management;.
■Accounting and Bookkeeping services;.
Oschmann Accounting offers accounting, secretarial, taxation, internal audit and related services, for example:.
■Tax Returns (Business & individual returns).

We provide our clients with a monthly assessment of how healthy their business is\. Well thought out business plans with realistic projections and strategic objectives\. Independent reviews of your annual financial statements to comply with the Company’s Act\. Identified weaknesses and best practise recommendations regarding overall operations of your business\. Registration for and submission of Statutory Returns on time\. Completion and submission of your and your business’ annual and provisional income tax retruns on time, and ensuring all deductions within the law were taken into account. One of the big four international accounting and audit firms were among its various clients. Oschmann Accounting business activities expanded to providing personalized accounting solutions, tax advise and structuring and internal audit services to the SME market over the years. Medical aid, income protection and retirement annuity deductions are included in the fee. This fee does not include the loading of payments on the client’s behalf fee. But what if you belong to a pension/provident fund with zero non retirement funding income? Since all of his or her salary is considered to be retirement funding income, he or she does not qualify for the 15% rule. Example 3: Let’s work with Sizwe once more, only this time he belongs to the company’s pension/provident fund and his whole salary is subject to pension/provident fund contributions. The calculation is as follows: 15% of his non retirement funding income (Which is Nil) No allowance was paid, from which PAYE was not deducted in full with regards to travel allowance. The amount of the penalty is determined according to the taxpayer’s taxable income or assessed loss\. 14 days after the date on which the employer has ceased to carry on business or other undertaking in respect of which an employer has paid or becomes liable to pay remuneration to any employee; or. Shares, unit trusts and private investments, and second-hand policies. Kruger Rands or other silver, platinum, or gold minted coins or any other coin the market value of which lies mainly in the metal it’s made of. The following individuals are not required to pay provisional tax: Any person whose income is derived solely from remuneration. Close corporations, companies, trusts etc are all provisional taxpayers. Voluntary redundancy takes place when the company, wishing to downsize workforce, offers it to all employees and those who wish to leave opt for it. Compulsory redundancy is a situation where company decides on its own which are the employees it wishes to leave. Persons who are liable to register, and those who have registered voluntarily, are referred to as vendors. For example, vendors are required to ensure that VAT is collected on taxable transactions, that they submit returns and payments on time, that they issue tax invoices where required, that they include VAT in all prices advertised or quoted etc.