Are you able to help with semi-complex returns as well such as shares dividends and trust incomes?

Posted 25 November 2015

Are you able to help with semi-complex tax returns as well such as shares dividends and trust incomes?

What will TaxTim cost?

Posted 25 November 2015

Hi Tim, I am 68 years old, and employed full time. I receive a salary of R 20,000 per month before tax. I receive an annuity payment of ±R 650 per month and also receive dividends and interest (way below the allowable). I have been paying my bookkeeper ±R 1400 per year in fees for submitting my tax returns. With your system, I do it myself with e-filing?
What does this cost (i. E. How much do I pay you)?

Do I qualify if I earn R32400,00 a year

Posted 25 November 2015

I 'm earning R2700,00 per month which is R32400. 00 annum
Do I qualify

Lump Sum Retirement Fund deposit no longer accepted under SARS code 4006 in reassessment

Posted 25 November 2015

Hi. My 2013 tax return was reviewed this tax year and adjustments made by SARS to my Retirement Annuity fund which has now left me owing SARS a large sum of money where the original assessment actually gave me money back. If I compare the original ITA34 to the new one I can see that the previous SARS code 4006 which had an amount counted as part of my deductions now in the new ITA34 reflects as R0.

A bit of background to this is that I changed employees and my new employer did not offer a pension fund so I instead redirected these funds to my retirement fund...

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ITA34 report when receiving a non-taxable allowance

Posted 25 November 2015

The bank requires me to submit an ITA34 report for a loan application. My income is not taxable because it is an allowance from my parents. Is it possible to still get this clearance from SARS?

Needs a tax number urgently

Posted 25 November 2015

One of our employees needs to get a tax number. He stays with his mom who has a lease agreement, she completed the SARS form and he took her ID as well as the lease agreement to SARS but now he has been told that he needs an account statement as proof of address. He doesn't have an account anywhere and he tried to open one but no one wants to give him an account. His mom also doesn't have any accounts anywhere. So what now? How does he gets a tax number because the proof of address is the only p...

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Difference between IRP5 and IRP12?

Posted 25 November 2015

I registered for SARS eFiling this morning but online it says IRP12 n IRP6 was I on the right page? because am having IRP5 and they sent me an sms asking me to fax I'd copy n IRP5

Tax percentage on over time

Posted 25 November 2015

If I worked 140 hours over time at a rate of (R300 per hour) how will this be taxed? will It be added to my basic salary and then taxed as a whole or will the over time be taxed separately and what percentage? are there specific percentages being taxed in different "brackets" or is it a flat rate?

Have an IRP5 but am an independent consultant, how do I answer some questions?

Posted 25 November 2015

I was part-time employed for 5 months of Tax year 2015, for which I have an IRP5. But I have made income elsewhere throughout the year as an independent consultant (freelancer). I am a little uncertain how to answer some questions, such as: "Did you spend any other money related to your earnings that you think you can claim as a deduction? You must have an amount next to source code 3606 (commission) on an IRP5 to qualify". The expenses I'd like to log relate to work that is not reflected on an ...

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Can I add bond & registration fees to a rental

Posted 25 November 2015

Rental - can I claim or declare bond registration fees and transfer fees on a rental

Medical tax credit change upon SARS review, can you help?

Posted 25 November 2015

I calculated that since my wife and kids were on separate medical scheme and that I was contributing towards this I would be entitled to a refund, which appeared on SARS eFiling as such. However SARS subsequently requested my tax documentation and reversed the same credit that was in my favor to me now owing them?

Can you help with this?

How do I calculate Rental Income?

Posted 24 November 2015

How do I calculate rental income? Is this calculated as follows or is it different? Rental Income = Bond Repayments - Rental income. If it is positive it will be a profit, if negative it will be a loss?

Do you have my details on file so I can switch to TaxTim?

Posted 24 November 2015

I notified my former tax consultant that I would no longer be using his services, and would be switching to TaxTim. Does that mean my paperwork has already been forwarded to TaxTim?

What amount of tax can a sole proprietor expect to pay, on profit of R105504 ,and salary of R281590?

Posted 24 November 2015

I run a small business, a sole proprieter. Over the 2014/2015 tax year a earned an annual salary of R281590, I also realised a profit of R105504. According to my accountant, I need to pay R22408 in tax for the financial year. Is this correct, as it seems a bit much to me?

What is the amount that is medical contributions made only by me, not reflected in the IRP5?

Posted 24 November 2015

On the tax return,there's a section that requires me to fill in any medical contributions made by myself that are not reflected on my IRP5/IT(a) however the total contributions are reflected on my IRP5 so am I supposed to deduct the employer's contributions from the total contributions to calculate contributions made solely by myself or is is another amount they're referring to?

Where do I enter funds received from a retirement plan?

Posted 24 November 2015

Where do I enter funds received from a retirement plan?

What is the tax rate payable when withdrawing a portion of the provident fund money?

Posted 24 November 2015

Have resigned (under 50 years old) and need some cash flow. I transferred the provident funds from employer to a preservation fund account. How much tax will I pay if I make a withdrawal of a portion of the funds?

24h waiting period for registration on SARS efiling

Posted 24 November 2015

I have done my registration on SARS SARS eFiling, but now when I log in a message appears that I have to wait 24h for SARS to process my application..... I've done that 5 days ago. Just want to now if I need to send anything away, thinking the delay is my fault?

Determining tax residency

Posted 24 November 2015

In determining whether one is a tax resident, you use two criteria: one is born in SA, the other if one resides in SA or has formally emigrated. I am in doubt - I am born in SA, moved to Europe 20 years ago, renounced SA citizenship and now have just moved back (on a foreign passport).

What is the definition of 'formally emigrated' and how to determine my tax status?

Tax Deduction for Personal Vehicle

Posted 24 November 2015

I am busy completing my Tax tax return with TaxTim, under the Tax Deduction section there is a wear and tear section. Can I depreciate the value of my personal car if I am still paying it off?

Medical aid premium

Posted 24 November 2015

Where on your website do I enter my medical aid premium? I paid it myself not through my employer. Your website only asks for expenses that I have incurred outside of my medical aid.

When am I getting the refund for late husband's deceased estate?

Posted 24 November 2015

In August I submitted my late husband's IRP5 and I was told that I am going to receive R2100 for the year 2015. They told me that its still going for an audit.

What should I do because I am still waiting for that money. And when you call them you keep on holding until the airtime is finished without being helped. What do I need to do?

Latest date to complete registration for e-filing

Posted 24 November 2015

What is the latest date to register for e-filing? I've submitted my documents to SARS on 20th November.

I have filled in my tax form but I don't see any confirmation

Posted 24 November 2015

I have filled in my tax form but I don't see any confirmation anywhere that it has been submitted.

Branch Code Length Error on Filing Return

Posted 24 November 2015

Hi Tim, I'm trying to wrap up my tax return but your system has a check on branch code length and is not allowing me to enter the one that is on file at SARS - 51001 which is an ITB number and which I use all the time. I don't have time to go into a SARS branch to change this to my specific branch's code so I would appreciate if you could assist. I'm stuck at the "Finalise your tax return form" with the "Please enter a branch number of at least 6 characters. " error.
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