DataGrows has a Dividends Tax Calculator, allowing you to capture declared dividends as if you were capturing on eFiling. However, we pull all the information together, so you don’t have to keep track. We don’t submit the return to SARS at this point, but it is a helpful tool for you to capture all the required information.
This is a manual table, so click Add Record when a client wants to declare dividends. Complete all the fields applicable, to ensure that the calculations pull through. This post on SARS’s website explains Dividends tax as it currently applies, if you are unsure.
Once you save the Dividends Declared record, Dividend Recipient will open as a tab. There will be records here for every owner type you selected: Individual Owners, Non-Individual Owners and Intermediaries. Please note, we create a dividend declared record for every distribution type – i.e., a separate record for Cash Dividends needs to be created from a Dividends In Specie.
On Dividend Recipient, you can store their details here for easy copying over onto eFiling.
Once you have completed all the recipients’ details, click on the next tab inside Dividends Declared, called Dividends Tax. This is the submission form for the total tax payable.
Throughout the calculation, we display this tax due date, and it is also an All Tasks Due Detail task.
We have also created a SARS task, just as an extra precaution to not miss the tax deadline.
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