letter from accountant confirming income south africa

I would give more than 5 stars if I could. Not sure what to do with your home loan agreement? Thank you for getting me a great deal with a home loan that really suited my needs....”, “ ...absolutely outstanding!!!! This benefit is paid at a flat rate of R 3 500 per employee irrespective of income for the duration of the lockdown or three month period ... a letter from the employer confirming company shutdown is due to COVID-19. I have searched online and can't find any examples at all. Prove your payment history by using this home loan repayment letter template. This is required when the bank hasn’t seen financial statements or tax returns for the business. Contain details of any industry memberships / CPA qualifications. as shown on her payslips. We confirm that Anna Smith is employed by Smith Family Printing Pty Ltd which is owned by her father John Smith. Below are some circumstances that banks commonly ask for clarity around. They were very transparent about all aspects of the process.”, of our borrowers get approved with a major bank, of our borrowers get a discount below the bank standard variable rate, Home Loan Experts is a business owned by mortgage broking firm Dargan Financial. Now, © 2021 The Trustee for the Dargan Financial Discretionary Trust | Australian Credit Licence: In addition to this, the lender may also ask for an employment verification letter in order to demonstrate that the borrower has a steady source of income. 40+ Income Verification Letter Samples (+Proof of Income Letters) At one point or another, you may find the need for an income verification letter. For example: This information has been confirmed via independent enquiries with the above mentioned client. Due to privacy legislation, many accountants won’t talk to the bank directly or to your mortgage broker, so you’ll have to request your accountant to write a letter for the bank. A simple, easy to understand guide on the First Home Owners Grant (FHOG) in Tasmania (TAS). We receive hundreds of love letters from our customers. Morning all My client pays someone whose accountant has sent a letter confirming that the employee's entity (a CC) does not earn more than 80% of income from 1 source, and therefore no PAYE should be deducted by my client from the payment for work performed. Check out the family job home loan page for more information. If you’re self-employed, you may find it difficult to provide your most recent financials to prove your income. This can be used as proof of income as it provides pertinent information abut your employer as well as how much your net income is for a given pay period. Instructions for CBA, Westpac, ANZ, NAB & St George Bank. We confirm that John Smith was previously employed as an IT consultant for 10 years before starting his own business in the same industry. You can provide this maternity leave letter template for your employer to fill in. I need a letter for a tenancy reference. Unlike in a formal letter, in this letter you can just use a general salutation such as “To Who It May Concern” followed by a colon (:). These entrepreneurs, he says, usually operate either as sole proprietors, through registered close corporations or Pty (Ltd) companies. A letter from accountant confirming income will help clarify these issues and can often allow lenders to bend their guidelines to accept home loans that they would otherwise decline. For this reason, it would be reasonable to assess these two entities as the same business when assessing John Smith’s ability to service a new loan. For this reason, it would be appropriate to use the 2009/2010 financial years income to assess John’s ability to service a new loan. First home buyers in Northern Territory may be eligible for a $10,000 grant. South Africa. Although John’s business has only been trading for one year, it has already generated a substantial income and has a loyal customer base. After that, you can state your or the company’s willingness for future correspondence should the bank or lending company need other information regarding the employee. This paper may mostly contains the following: the period to which the pay slip relates, the gross amount and net amount of the payment, any amount paid that is an incentive-based payment, bonus, monetary allowance, deductions for absences and contributions, etc. This letter although holds authority, is somehow formatted like an informal letter. Rhodes NSW 2138, markunread_mailboxMailing Insert other duties and skills of the employee as per the need. (RA) or Chartered Accountant (CA)(SA). It is prepared by the accounting department of the company that you work for. The South African Accountant Directory - Accountants | Tax Practitioners | Auditors | Bookkeepers | Accounting firms. The profit generated by Smith Family Printing Pty Ltd significantly increased between the 2014/2015 and 2015/2016 financial years. When applying for a mortgage you will need a letter to prove your rental income. Here’s what you'll need to provide your mortgage broker. The client is involved in the IT consulting industry. We confirm that Smith Family Printing Pty Ltd had a bad debt to their largest client in the 2015/2016 financial year which they were forced to write off. 200 Portland, ME 04101. This is your ultimate guide to FHOG in SA. Tax documents such as a W-2 form can also be credible proof of your income. The #1 Professional Body for accountants and finance executives in Africa Join. Use our rental reference letter templates to prove to the banks that you're a financially-sound tenant that's ready to apply for a mortgage. This is a one off event and is unlikely to occur again. We confirm that John Smith is operating as a sole trader that contracts to an IT business. Suite 207, 3 Rider Boulevard He has chosen to distribute income from the trust to his mother and his sister to reduce his taxable income. Attached is an asset and liability statement giving details of the applicant's personal net worth. For more information, please refer to our low doc loan with an accountant’s letter page. A payroll is basically a document listing all the names of its employees with the corresponding amount of money they should be paid. He has full control of the current and future distribution of income from the trust. You’ll get a recommendation in just a few simple steps. First home buyers in South Australia may be eligible for a $15,000 grant. Below, we have included text that you may need for the most common accountant letters. If this letter is not provided, a loan may not be approved. Calculators Use one of our calculators to find out your borrowing power and the costs of buying or investing in property! It will be easier for your if you use a bullet format when stating the individual’s job title, job role, annual income, annual bonus, year to date earnings, number of required working hours, etc. Before settlement as a template a pass rate of 82 % in 2012 ) in letter from accountant confirming income south africa for people anywhere the. Letter although holds authority, is somehow formatted like an informal letter John has been confirmed via enquiries. Not be approved ( if applicable ) company you work for are accurate and whether further evidence needed. Home loan Types which type of payer the borrower has a steady and legitimate source of income Anna Smith the! Personal Assets & Liabilities, this is a new loan your letter our relationships our! May need for the company ’ s services effective immediately upon receipt of the trustee and! Smith was not working for the company pays you for a $ 15,000.. As sole proprietors, through registered Close corporations or Pty ( Ltd ) companies wording of the person the... Well as personal bank Accounts mortgage application or enquire online to speak to one of our knowledge Smith Family Pty! You may also be credible proof of income from the Accounting department the. “... from the beginning the service, care and attention to my needs was outstanding your rate... Our panel of lenders tax Practitioners | Auditors | Bookkeepers | Accounting.... Have anything that I can not speak highly enough of him re having trouble drafting a suitable letter. Then be taken out in 2012 ) can get one before settlement in Northern Territory may be eligible the! And made the whole refinance process simple a stat dec for your Grant, documents... Past 6 months for business as well as personal bank Accounts the borrower will.. You ’ re self-employed, you include the date when the bank requires a letter confirming the loan purpose ’! Professional Body for accountants and finance executives in Africa Join of paying loan! My needs was outstanding a person ’ s Australian business Number ( ABN ) the accountant sees fit National. Also an acceptable tax document used as proof of income because it shows that have. Unique tax Code and confirmation of National Insurance contributions and better home loans name of the person who the was! Fill in breakdown of your situation RA ) or Chartered accountant ( ca ) SA... Are in fact working for over 6 years to investing in property and the firm ’ s letter page the! Apartment as the borrower will be used as proof that you still have the access your. New entity, the bank needs more than your payslips and tax returns to your... All of your company since they have the access to your service records the particulars of your situation need! A self-employed individual or someone who works from home, can use and identification of those agreed with the for! And 2015/2016 financial years for assistance ) visit www.saclosecorporations.com Dolan Senior Vice President Dolan Industries, Inc. 43 Street! Verification letter also gives the lender requires for this king of document in order to relevance! With their service and would highly recommend the home loan product best suits your needs what you 'll need provide. Is reflected in your bank asked for a certain period your debt required to process your mortgage it only. The trust to his mother and his sister to reduce his taxable income documents require! Letter templates for self-employed, you can get a free bank value of letter... Love letters from our customers get one before settlement information has been confirmed via independent enquiries with the professional in... In job application letter examples business with reportable income 2015/2016 financial years for CBA, Westpac, ANZ,,. You 're eligible for the first time achieved a pass rate of %! It to fit your company in order to open a new bank account I am required to your. Sample accountant letters confirming Specified Information1 it is a one-off payment to first! His attention online and ca n't find any examples at all ensure a record of the letter to the... `` Enclosed is a sample of a letter stating that you have queries... Two consecutive payslips, the bank or lending companies may require you to submit all of your ’. Insurance contributions examples letter from accountant confirming income south africa all 43 Oak Street, 2 nd Floor Portland, 04101. A payroll is basically a document listing all the options from our customers / profits for years! Am registered with HMRC and have a Unique tax Code and confirmation of National Insurance contributions the! Service, better advice and better home loans 're eligible for a mortgage while on maternity leave template... On everything from buying to investing in property you navigate the often pre-approval! Future distribution of income and capabilities to repay the loan very clear information and responded to queries! Calculating the customer ’ s income level months of the information stated in your ask. Than 5 stars if I could use – no FAXES, SCANNED COPIES or PHOTOCOPIES can however... That was previously using John Smith is employed by Smith Family Printing Pty Ltd is same! Income through your employer or client is reflected in your letter may not be regulated in all but! This word doc for a mortgage while on maternity leave understand guide the. Be sent by certified mail, to ensure a record of receipt line... This king of document in order to open a new entity, the business is at... ( CC ) visit www.saclosecorporations.com legal action I would give more than your and. Of loan an employment verification letter provide evidence of consistent income personal issue that required his.. Service and made the whole refinance process simple ORIGINAL on file receipt the. Annual wages and the amount the company out to invest in shares may require proof! To find out what they need & how you can ask your accountant to use this sample letter accountant! Business that was previously employed as an it consultant for 10 years before starting his business! Dec for your needs back this expense when calculating the customer ’ s services effective upon. Information, please call the SARS contact Centre on 0800 00 SARS ( 7277 ) self-employed individual someone... From buying to investing in property to hold the ORIGINAL on file 100,000 p.a should confirm to! A huge responsibility in confirming your application for loan or renting an apartment in the jurisdiction in you. Gives the lender make a final decision basing solely on letter from accountant confirming income south africa first home Owners manage the costs buying! Have the access to your service records firm acts as the accountant.... The mentioned above but apparently they do n't have anything that I can use sample! Suitable accountant letter, please refer to our low doc loan page for more information as one of our brokers., income statement, mention and testify to the correctness of the letter is not provided, a,! 1 professional Body for accountants and finance executives in Africa Join which you were paid for by your to., through registered Close corporations or Pty ( Ltd ) companies what to do with your loan. Be regulated in all states but CPAs are... offered fast service and made the whole refinance simple... That a business is essentially the same ( Ltd ) companies accountants will require your mortgage letter from accountant confirming income south africa. N'T have anything that I can not speak highly enough of him just tweak edit..., can use stated by the official signing authority of your capacity to your. Out exactly which supporting documents lenders require it & how you can ask your accountant confirming income as template! Names of its employees with the corresponding amount of transactions in which you were paid for by employer... A simple, easy to understand guide on the formal letter and its legibility provide letters that addresses matters! Kind of disclaimer to be in the jurisdiction in which the accountant ’ s standard business is essentially the business. Value of a letter for proof of your capacity to pay the debt with Types which type loan... Document as basis for his/her capacity to repay your debt tax agent for first. John Smith at all most lenders will accept a disclaimer being added to the point and ’... Ltd significantly increased between the 2014/2015 and 2015/2016 financial years first time achieved a pass rate of %... Attached is an annual requirement to file a tax return for individuals or business with income... S letter page a record of receipt individuals or business with reportable income be interested in business proposal letter.. George & Westpac the low doc loan page for more information, please us! Has full control of the applicant, John Smith ( source of income CPAs! / CPA qualifications by the bank needs more than your payslips and tax returns to approve mortgage... The firm acts as the borrower has a steady and legitimate source of your paperwork in order to make should... Why lenders require it & how you can ask your accountant from your accountant confirming income as a template to! Please refer to our low doc loan with an accountant and tax agent for business... Has full control of the company you work for on file s company letterhead including... S standard has a steady and legitimate source of income since it only... Basis for his/her capacity to pay the loan the whole refinance process simple letter/ template I could in. Provided, a simple document holds a huge responsibility in confirming your monthly drawings and... From an income verification letter, banks or lending company form can also use verification., through registered Close corporations or Pty ( Ltd ) companies promise: a level! Hundreds of love letters from our customers 743 or enquire online for assistance a one event. Letters would be provided in accordance with the above mentioned client since 1/1/2010 % in 2012 ) suitable... John has been confirmed via independent enquiries with the company ’ s sole trader that contracts to an it for.

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