Amounts included in calculation annuity fund deduction

Posted 14 March 2016

I am retired and receive a monthly pension which is subject to tax. I make no contributions to a pension fund since I retired. I still contribute to a retirement annuity fund monthly. Do I include the total pension received together with investment tax returns for the year to determine the maximum amount allowed for annuity fund deduction

Travel allowance exceeding 8000km

Posted 14 March 2016

How is the travel allowance taxed if you do not receive a car allowance, use personal vehicle and exceed 8000km for business travel? Company pays the standard rate per km, and no other allowance is received in respect of travel.

Pension pay out after retrenchment

Posted 14 March 2016

If my pension fund is at R1 500 000, and I am being retrenched, how much of my pension fund will I take home if I elect to have it paid out?

How to claim tax back on a provident fund?

Posted 14 March 2016

How to claim provident fund tax back

What should be the deduction on R25,000 pm?

Posted 14 March 2016

Is it correct to deduct 25% tax on an employee pay say if he earns R25000-00 per month?

Which year do I declare CGT on property sale?

Posted 11 March 2016

If the date of sale and the registration of that same property fall under two different tax years, which is the year applicable for submission of the tax return to SARS?

New tax law on pension funds

Posted 11 March 2016

How will I be taxed according to the new pension fund law? Salary R27,000 House subsidy R700 travel allowance R10,735 Alexander Forbes Provident Fund R2,077 Company contributes R5,004
New tax law 27. 5% pension rebate -Interpretation there of My contribution R2077 only or 2077 5004=R7081

Tax clearance certificates

Posted 11 March 2016

Do I need a tax clearance certificate if I go sailing out of South Africa for a few years? I do have a property in South Africa

Tax number for late father

Posted 11 March 2016

I'm asking for my late father's tax number?

Turn 65 during tax year

Posted 11 March 2016

I have a morning position at a retirement village. I turn 65 during during this tax year, in November 2016. When do I stop paying tax?
Kind regards
Mrs H. Van der Westhuizen

What other documents are required besides submitting an affidavit?

Posted 11 March 2016

I worked for a company for one day and I haven't tax returned due to personal circumstances in 2014. I have been unemployed ever since. SARS is requesting I think an ITR12 / IRP5. I cannot submit either of these documents. What do I do besides get an affidavit?

Should I register as a provisional taxpayer for freelance work even if I have a contract position?

Posted 11 March 2016

I have a contract with an employer for a minimum of 40 hours per month from April 2016-September 2016. They should be paying tax for me on this. I will likely be doing some other freelance work during this time (and for the remainder of the tax year). Will I have to register as a provisional taxpayer for the freelance work? And as a provisional taxpayer, when do I need to register for the 2017 tax year, and will I only have to pay tax twice per tax year, or still a PAYE amount per month?

How much tax to pay from R120 000 investment?

Posted 11 March 2016

How much am I supposed to pay to tax man when I withdraw from an investment my mother left me

What amount will be tax free if I withdraw out of this fund now?

Posted 11 March 2016

My wife passed away 27/12/2015. She did receive on retirement 25/02/2010 lump sum of R 378 634. Tax free portion R300 000 and balance was taxed. 2/3 invested into retirement fund.

What is the Income Tax Payable on a Rental Income of R8,000.00 a month from Feb 2016?

Posted 11 March 2016

I am a 59 yr old Male earning an annuity of R19,000. 00 per month and and an Income of R8,000. 00 a month form the property rental.

After verifying bank details how long does our refund take to be paid to us?

Posted 10 March 2016

We were audited this last financial year. Everything was fine and we are due a refund but now they needed to FICA us again. We have done this but now they say the refund can take 3 months. Looking at a document we were given this morning, they have registered us as new taxpayers but we are not. For the last 20 years the refunds were always paid into the account on their records.

Tax on bonus from my employer

Posted 10 March 2016

Hi, can you please clarify if there is a specific tax rate percentage charged on BONUS PAYMENTS by employers? Last year it seemed to be exactly 36% that was deducted for tax, this year (to Feb 2017) I'm not sure what rate is applied.

SARS and Sequestration

Posted 9 March 2016

If a person is sequestrated, then the person gets a new tax number. How come E-Filing still has the old details of which I had to change it myself to the new tax number. What happens to the old tax returns on the old tax number. How come I get audited every time after sequestration and sometimes I have to pay in even after I over deducted PAYE the one year?
If I submit at the branch will SARS look at the e-filing and say I did not submit?
I have submitted all the documents and how can SARS ask for more docs that I don't have....

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What does "outstanding tax directive" message mean?

Posted 9 March 2016

"Please note that your tax return cannot be processed immediately due to an outstanding Tax Directive. Therefore, manual intervention is required. SARS will advise you as soon as your tax return has been assessed" this is what my SARS eFiling tax summary has been saying from the 28/01/2016. What does this mean?

How do I clear an outstanding old tax return?

Posted 9 March 2016

During 2012 I did not submit a tax return on SARS eFiling as I earned less than the threshold. Now 4 years later the tax return is still showing as outstanding? Is there a way to clear this?

What is the definition of taxable income in pension fund deduction calculation?

Posted 9 March 2016

Does taxable income include all earnings to calculate pension rebate or is it only your basic salary?

What are these company returns for?

Posted 9 March 2016

What are the following forms for:

IT34
IT14
IRP5
IRP6
IT12

Can I use my personal car for work and ask for a travel allowance?

Posted 9 March 2016

Can you use your own car (double cab ) for your work ( not your business) and ask for a travel allowance?

Capital gains tax on primary residence

Posted 9 March 2016

I want to proceed with Tax Tim to complete my tax return for 2015 as it seems I have a penalty of R 1215. My question is, my tax practitioner did not complete my last tax return and I have managed to gain control of my SARS eFiling and changed my status from a Provisional Tax Payer to Ordinary Tax Payer, do I submit my tax return as a Provisional or Personal Tax Payer. I did not work in 2015, sold my jointly owned property in JHB, moved to CT and bought another property from the proceeds. I have...

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How long should the audit verification take?

Posted 9 March 2016

Submitted verification documents for 2015 tax return on 9 January 2016. No completion letter or anything further from SARS since then. I understood that the verification process should be completed within 21 working days? In previous years, refund was normally finalised and paid by end January.
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