Written by Marc
Posted 28 August 2015
Written by Marc
Posted 28 August 2015
I submitted my tax returns via eFiling, I also claimed for travel expenses refunds on 2 vehicles my tax returns were selected for verification by auditors who are now requesting for copies of purchase agreement for both vehicles. I have contacted the bank to request for the copy of my old vehicle as I no longer have one, they told me the document has been archived and promised to send it through as soon as they have access to the file. I have waited without receiving the document is there an al...
Written by Marc
Posted 27 August 2015
I am a freelancer working in the film industry. As such I have have periods of consistent work with a production company for a number of months, but also gain smaller amounts of income from private work on the side. Giving short courses and doing small corporate or private videos and edits. I am not registred as company and do all work as a private individual. How do I divide up my income, to sumbit for my tax return?
And what type of tax-payer would I register as?
This is my fir...
Written by Marc
Posted 27 August 2015
Hi Tim
I have submitted my tax return, and was asked for supporting docs as I was selected for audit. I have since submitted all supporting docs, and on my SARS eFiling profile it shows that my tax return has been assessed. I have not received any letters or notifications from SARS yet. Also, there is a notification on my profile that I will receive a notification of my assessment on my SARS eFiling profile in the next 2 weeks, does this mean that my refund will only be paid out after...
Written by Marc
Posted 27 August 2015
Written by Marc
Posted 27 August 2015
Written by Marc
Posted 27 August 2015
Written by Marc
Posted 27 August 2015
I received a Completion letter from SARS as below, what should I do next?
-------------------------------------------------------------------------------------------
VERIFICATION OF ASSESSMENT
We refer to the verification of your assessment for the 2015 tax period. Please note that no adjustment has been made to this assessment. However, in terms of the Tax Administration Act the South African Revenue Service reserves the right to conduct further reviews in future if required...
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 26 August 2015
Hi all, I'm considering starting a Sole Proprietor business. I'm not exactly sure regarding the tax implications. Let say for example I receive R10,000 per month (independent contractor I receive this from 3 different sources)... All this income goes into my personal bank account... Should I now pay personal tax on the whole amount of R10,000 or do I just pay personal tax on the net amount after my deductions for bringing forth the income?And if I hire one employee and I get R5k and he gets 5K p...
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 25 August 2015
Written by Marc
Posted 25 August 2015
Last month I registered my company as a Pty Ltd (previously I was a sole proprietor and was being taxed in my personal capacity). I am paying myself a monthly salary from my company, plus charging the company for a portion of the cell phone bill, etc. With respect to provisional tax, are my following understandings correct:
(a) In general, do I need to pay provisional tax both in my private capacity and as a business?
(b) Do I need to pay provisional tax now [August] for my business? (if not, when will I first need to complete my provisional tax return for my business?)...
Written by Marc
Posted 25 August 2015
Written by Marc
Posted 25 August 2015
I submitted my tax claim for 2015 on SARS and made a mistake the first time (not adding medical aid tax amount) and requested a correction ( added the tax amount ) but then I was under audit so today 30 days later I receive a phone call from SARS asking me to submit my tax clearance breakdown certificate, the only problem I have now is that I didn't even know you should claim the slips because they are added in to the tax clearance breakdown certificate. Now what will happen?
the la...
Written by Marc
Posted 25 August 2015
I am using my vehicle for business purposes and I kept a Skytrax logbook. I traveled about 40% of my KM's for business. I do not have a travel allowance and my commission was less than 50% of my income. Can I still claim my travel expenses? My Employer is not willing to amend the IRP5 to include a travel allowance. I still feel that I am out of pocket and I was not advised by my Employer when I started that I should structure my salary with a travel allowance. Please advise if there is a way...
Written by Marc
Posted 25 August 2015
Written by Marc
Posted 25 August 2015
Written by Marc
Posted 25 August 2015
Do Your Tax Return Easily