Supporting documents for capital gains

  Written by Evan   Posted 12 November 2015

I just got notified that you submitted a revised ITR12 which records the primary residence exclusion of R2000 000. The new ITA34 I received now reflects an amount of -R14 290. 15. But now I am being audited. They are not clear on the documents that I have to submit. They ask for my IRP5, medical aid certificate, IT3B tax certificate. With regards to the capital gains part, there are no specific requests. Should I submit the final statement of accounts for the purchase and sale of my former resid...

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How to treat PAYE for a post doctorate student

  Written by Evan   Posted 12 November 2015

Will a person busy with a post doctorate receive any tax breaks or will they have to pay PAYE based on the monthly "salary" received as normal?

How much should I be taxed?

  Written by Marc   Posted 12 November 2015

I am employed as an independent contractor working 6 hours a week for R5625 monthly before tax. I only work 8 months of the year and have been told by law I should be taxed 25% as PAYE. Is this correct?

Requests for documents

  Written by Marc   Posted 12 November 2015

I submitted my forms and got asked to submit some documents, which I did, but I'm not sure I did it correctly, as I haven't gotten any feedback after the first requests for documents. How will I know if they need more from me? Must I call them? I'm scared that they will fine me. Regards

Due date for ITR12 as a Provisional Taxpayer?

  Written by Marc   Posted 12 November 2015

Have submitted my two Provisional Tax tax returns for this year already, and still need to submit my ITR12. When is that due? It's the first time I'm doing it myself after getting rid of my accountant. Also if I decided to get TaxTim to do it, what all would I need in terms of documentation, and how simple is the process through your guys?

Foreign income in Cayman Islands

  Written by Evan   Posted 12 November 2015

I will be working in the Cayman Islands for 2 years. This is a tax free jurisdiction. I just wanted to ask what the tax implications would be in my tax return. Many thanks

Should a freelance scriptwriter working from home pay tax as an individual or as a sole proprietor?

  Written by Marc   Posted 12 November 2015

Should a freelance scriptwriter working from home pay tax as an individual or as a sole proprietor?

Can I claim private or official used km

  Written by Marc   Posted 11 November 2015

Income source code 3802 can I claim private or official km

How do I account for various line items in IT3b Discovery investment certificate?

  Written by Evan   Posted 11 November 2015

I receive two tax certificates from Discovery for the same investment product. One is an IT3b, the other an IT3c. While the IT3c shows a source code of 4250, the IT3b does not show source codes. It shows "Gross foreign dividends", "Local interest voluntary", "Gross foreign interest" & "Local dividends (exempt)". It also shows withholding tax on 3 of them, and a "Net total".

When declaring my local interest earned, should I add just the "Local interest voluntary" amount from Discovery...

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Resigned how to get refund from SARS?

  Written by Marc   Posted 11 November 2015

I resigned from work,how do I know I am eligible for return from SARS

Sale of primary residence

  Written by Marc   Posted 11 November 2015

My question relates to the sale of my primary residence in 2014 that I owned with my former spouse. We sold it upon divorce and shared the proceeds 50/50 after paying off the bond and other debt. The purchase price of the house was R1 875 000,00, transfer duty R67 000, transfer fees R17 000. What is the base price that I should put down in my tax form? Is it R1 875 000,00 (the amount that excludes transfer duty and transfer fees)? The house was sold for R2 400 000, 00. With refunds from bond etc...

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Need my tax number please?

  Written by Marc   Posted 11 November 2015

I need to get my tax number from SARS?

Is it Mandatory to File the Tax if Taxable Income is below R350,000 ???

  Written by Marc   Posted 10 November 2015

My Employer issued me the IRP5 and my total Taxable amount is about R96,000 for 12 month period. SARS published that the individuals who earn less than 350,000 are not required to file the Income Tax. Http://www. SARS. Gov. Za/TaxTypes/PIT/Pages/default. Aspx
Top tip: You don't need to file if your total salary for the year before tax is not more than R350 000, provided:
I filed my Tax last 2 years. Please advise me will it be a problem if I don't file the Tax this year as my total...

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Code on IRP5 for housing subsidy

  Written by Marc   Posted 10 November 2015

Housing subsidy - Code on IRP5. Don't know if it is code 3601

How much tax do you pay if you get a pro-rata bonus?

  Written by Marc   Posted 10 November 2015

If you get a pro-rata bonus how much tax will you pay?

Minimum threshold for tax deduction and applicable rate

  Written by Marc   Posted 10 November 2015

What is the minimum threshold for tax deduction and the applicable tax rate

How long does it take for SARS to refund funds ?

  Written by Marc   Posted 10 November 2015

IF the amount on the tax return show a - that means that you will receive funds, correct. My question is how long does it take, because when you call SARS call centre they said 6 working days. If it's not truth why say it.

What is the tax definition of carrying on a business.

  Written by Marc   Posted 10 November 2015

I have been unemployed for the 2014 / 2015 tax year. For income, I have been getting casual work here and there. By casual I mean I worked on some events, did some technical drawings for a company and then helped with a school magazine. I was paid for all these jobs, for which I had to invoice and naturally I incurred expenses to do these jobs. Two events were overseas. There were a few months when I had no work at all. (My taxable income is less that the R70700 threshold. ) My question is, does...

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IRP5's

  Written by Marc   Posted 10 November 2015

SARS are requesting IRP5's from me for 2006 & 2007 before they will release a refund for my current 2015 tax return. Problem is I don't have the IRP-5's anymore and neither does my employer. For what period are they supposed to keep it on their records? Please advise because I don't know what to do now.

Medical costs for operation not paid out by Medical Aid

  Written by Evan   Posted 10 November 2015

Hi I have a question regarding medical claims not paid by the medical aid. I had a c-section operation in 2014. The Doctor put in a claim of R13k and the medical aid made a payment from the scheme of R3K, leaving a balance of R10K. The amount for unpaid claims on the medical aid certificate for the 2014/2015 tax year is only approx R4K.

Should this R10K amount of the c-section be added to the medical claims not paid by the medical aid? Tax Code 4020 becomes R4K R10K = R14K. What abo...

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Printing Registration form a few hours AFTER submission

  Written by Marc   Posted 10 November 2015

I didn't have a printer whilst completing Registration form. How do I access the form again, (on Android device) in order to print it, to fax it with my ID?

Tax and handling donation from non SA resident

  Written by Marc   Posted 9 November 2015

Dear Tim,
Are there any taxes due in South Africa, if my daughter (non SA resident, living in Australia and having Australian passport) donates money (more than ZAR100K) to her parents, and we do not transfer the money to SA and keep them within a bank outside SA (UK or other place) and in different currency?
1. Do we have to declare such a donation on our tax returns and what are the tax complications here?
2. Do we have to declare this account/amount every year in our tax returns and pay some taxes like capital gain tax as a result of Rand depreciation?...

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PAYE/ Tax on Commissions

  Written by Marc   Posted 9 November 2015

I am paying employees a monthly salary as well as commissions on top of the monthly basic. Do I have to deduct PAYE separately from monthly basic and then using a different PAYE/ Tax Rate for the commissions?

Commissions are available every month, however not every month has commissions paid to the employee. What would be the easiest and best way to understand this as well as being as SARS compliant

SARS eFiling for work and own business

  Written by Marc   Posted 9 November 2015

I am a bookkeeper for a small school and I am the person responsible for the payroll, monthly SARS EMP201 and annual EMP501 etc. We use SARS eFiling and therefore my details are used as the contact person. My husband has just started his own business and I would like to register him for SARS eFiling too, I will be doing the bookkeeping, whose details do I complete (fill in) for the registration? Could I use my own again? or will there be a conflict in details?

Independent Contractor can you claim depreciation on your vehicle

  Written by Marc   Posted 9 November 2015

As an individual with additional Independent Contractors remuneration, can you claim depreciation on your motor vehicle even if you get a travel allowance on your main income.
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