Submitting IRP5 document

Posted 26 November 2015

How do I submit the IRP5

I am due a refund but I don't have a 2012 tax return as I was studying full time.

Posted 26 November 2015

Hi there. I'm due a refund from SARS but it might be withheld as I did not submit a return in 2012. I wasn't working in 2012 as I was studying full time. Please advise what I need to do in order to ensure all my tax returns are up to date? Thanks

Pension fund withdrawal

Posted 26 November 2015

If I withdraw money from my pension fund how will it be taxed. 500 000 withdrawal

TAX PAYABLE ON BONUS MONTH

Posted 26 November 2015

how much tax would i pay with my bonus month

Is UIF levied on commission earners?

Posted 26 November 2015

Hi. Does commission earners pay UIF and if so, how much is deducted. The commissions payable is under R6000 per month. Does the employer deduct UIF on amounts below R6000?

Submission of tax form

Posted 26 November 2015

I have earned R5000 per month. I work for my husband. I have not payed PAYE or UIF. Can I still submit my tax form?

If an expat individual salary processed in feb will the tax deducted for entire year or only feb

Posted 26 November 2015

If I have landed in South Africa on 20th of Jan 2016 and my salary for Feb 2016 is processed in South Africa. The tax would be deducted only for the month of Feb or for entire financial year that includes previous months wherein I was not part of SA.

Can I claim for med. Aid monthly contributions?

Posted 26 November 2015

Am I allowed to claim against my monthly contribution to my medical aid even if my company pays its portion?

Provisional tax once off situation?

Posted 26 November 2015

In the 2015 tax season my employer paid me my full salary and did not subtract PAYE. This was the case for 3 months. I did not get an IRP5 for that period. I know that I need to pay that tax portion How do I declare that to SARS? And avoid becoming a provisional tax payer

Do I still have to submit a tax return having emigrated to Namibia?

Posted 26 November 2015

My friend lives in Namibia - she recently moved there about 2 years ago. She earns income there and pays medical aid and pension contributions there. She still has a bank account in South Africa together with investments so she is earning interest yearly. Would she still have to submit a tax return? The interest she has earned showing on her IT3b from the bank is just under R900. Would appreciate your help with this? Thank you

Don't know if i'm provitional or individual tax payer.

Posted 26 November 2015

I'm not sure which type of tax return should I submit.

Do I get money from SARS?

Posted 26 November 2015

How do I know I got money at SARS

SARS code 3702 not being taxed

Posted 25 November 2015

Good day. I have codes 3701 and 3702 on my IRP5. I claim more then the SARS rate due to the fact that our rate includes fuel, maintenance, capital, insurance and depreciation. I was told by SARS the employer is not taxing the 3702 reimbursement. I now owe SARS. How do one correct such a scenario not to owe monies at assessment. Thank you
Regards

Car expense claims as a full commission earner

Posted 25 November 2015

I started as an estate agent and I have not kept records of my mileage and the car is paid up, what can I claim as a vehicle expense and depreciation

Provisional Taxpayer status

Posted 25 November 2015

I receive a bonus from my boss every year, but this bonus is not guaranteed, we only receive it if we reach our targets. For the past couple of years we have reached our target and have received the bonus and SARS has now made me a provisional tax payer. I have also just submitted my tax return and I received my statement of account and SARS has charged me a huge amount as penalty for under estimation of provisional tax. Why would this be?

Mileage claims

Posted 25 November 2015

Good day, i work on the road every day and get my mileage paid to me monthly separate from my salary and don't get taxed on it. What do I need to submit my taxes?

Declaring profit on Bitcoin trading and speculation

Posted 25 November 2015

I am earning a local profit from trading Bitcoin in various exchanges throughout the world. I have lodged this under: Other Receipts Accruals - Royalties - Amount Profit - 49224

This profit was calculated by tracking how many payments I receive FROM BitX.co.za and Ice3x.co.za (which was used to trade Bitcoin for ZAR)
LESS payments made TO BitX and Ice3x, as well as all payments made to my Mercantile Bank account (which is only used to send Forex to offshore Bitcoin exchanges) as well as any other Forex payments (through my main account at FNB) destined for offshore Bitcoin exchanges...

Read more →

How are personal assets to be valued? Personal assets given or donated to you?

Posted 25 November 2015

Am I correct in understanding that the valuation of personal assets is at cost price? What about personal assets that you have received as personal gifts/donations over say 10 yrs which in each year was under the annual exclusion rate. These assets have value yet cost is zero as they were given freely & gratis. How will/would SARs see this in an event of an Audit and a Home inspection?

VAT Application form

Posted 25 November 2015

I would like to register for VAT which application form is the correct and most recent one? I have downloaded two forms one is called the VAT101 and the other is the VAT101e?

How to calculate overtime for 6500

Posted 25 November 2015

How to calculate overtime on R6500
Saturday - 15 hrs (2weeks)
Sunday - 8 hrs
Midweek - 10 hrs

Employer Registration

Posted 25 November 2015

I need to register as an employer for PAYE and UIF once I submit the application forms and supporting documents and all is well, how long does it take to get the registration numbers?

Work done for previous employer after hours

Posted 25 November 2015

I have done some work for my previous employer after hours to assist until the new person is employed. We agreed upon a hourly rate. I must now be paid for these hours. What will be better for me:
1. To invoice the previous employer for the hours
Or
2. Let them pay me through their payroll as their employee?

What will the income tax implications be with both these options?

Retirement fund payout

Posted 25 November 2015

I changed jobs and had a portion of my retirement fund paid out to me. Where do I include this info on my tax return

Unsure about income source codes

Posted 25 November 2015

What is the difference between income source codes 3601, 3605 and 3801 as it appears on my tax return?

Travel Expenses - commission

Posted 25 November 2015

I work for a company. I am contracted out to a client. I gather I can claim travel costs from work to the client? I have maintained a log book but I have not received a travel allowance on my payslip from my company. How do I claim the travel expenses?
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