Updated IRP5 to SARS from Employer turnaround time
Posted 14 October 2015
My Employer have re-consile my updated IRP5 to SARS, how long it takes to reach SARS (updated IRP5)
Actually my employer updated my IRP5 to SARS on Friday 9th Oct, but SARS call center agents telling me that SARS did not received it until yesterday 13th Oct. Thanks
Calculation of travelling & depreciation
Posted 14 October 2015
Commission earner - Please inform me how to calculate the following:
# travel expenses with a log book
# without a log book - expenses incurred are as follows: fuel, toll, maintenance, license
# depreciation of a motor vehicle
Email address to submit IRP5 corrections to SARS
Posted 14 October 2015
I have submitted my tax form incorrectly, please can you send me an SARS email address to forward and attach the correct documentation along with a letter.
Taxable Rental Income
Posted 14 October 2015
I'm currently renting a property in Johannessburg, but I'm also letting out a property. Can I use my rental expense to offset my rental income from my other property?
Tax-deductable items like laptop or car
Posted 13 October 2015
If you use items like a laptop or car for work purposes and want to claim depreciation value back from SARS, does the item need to be new or for how many years can you claim the value back?
Where do I obtain my own IT3 a form?
Posted 13 October 2015
I am the only member of a CC. I am self- employed. I need to issue myself with an IT3a form. How do I do this? I have been drawing a small amount from the profit when there is one. I do not draw a salary. SARS is requiring this document for each year I have submitted.. Since 2010. I am confused about this requirement.
Are overseas gifts from children classified as an income?
Posted 13 October 2015
One of our children, who is working overseas, has recently being sending my wife and I (we are 63 years old) money each month to help with our expenses. Once this overseas money clears the Bank, this financial assistance works out approx. To R25,000 to R40,000 per month (in one instance, an amount was ALSO included for our grandson's annual school fee: R64,000 ) and this works out to approx. R364,000 per annum). We have indicated to the Bank that each of these amounts is being received as a gift...
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Married taxation on investment interest
Posted 13 October 2015
My girlfriend and I are planning on getting married and as part of this we would like to know if being married In Community of Property will affect the tax applied to any investment income I currently earn. Ideally once we are married I would like to transfer half of my current investment into her name so that we both earn interest separately (in order to pay less than half of the current tax I'm having to pay on the interest as the amount would then push us into lower earning bands?) however I'm wondering if this would then have the tax benefits that I think it would?...
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Why did I get tax deducted when I employed for 1 month
Posted 13 October 2015
I want to understand how do I get my tax deducted if I was on a 1 month contract that they did not renew
Claims for home office expenses
Posted 13 October 2015
I am a salaried employee of a large corporate company, but I also earn commission from a part-time business, for which I have a dedicated office at home. This commission is paid into my bank account and I receive an IRP5 for it. Am I allowed to claim expenses like telephone, stationary, renovations in the home office, catering expenses, etc?
Capital gains and recoupments
Posted 12 October 2015
If my selling price for an asset is R 2,258,548, Cost is R 2,800,000 and the Tax Value is R 1,120,000. What will my recoupment and capital gain be?
Do I get anything for contributing on tax?
Posted 12 October 2015
I Have been working for the company on contract and my monthly salary was 10. 000 and I have been paying 700 tax every month and now the company is terminating my contract will I be getting anything from SARS? or I will only get UIF?
My medical aid is only deducted after PAYE. (i.e. Income - PAYE) = x less medical aid
Posted 12 October 2015
My company insist that their calculations are correct. They only deduct my medical aid contribution after PAYE. As a result instead of my deduction being R10 000 to R11 000 odd I end up with at least R15000 plus deductions. Then they are adamant that when I do my tax returns I should get all that is due to me which is not true.
What will I be paid or have to pay pleas
Posted 11 October 2015
Are you able to retrieve my tax certificate if I give you my Id number
Delay in SARS response
Posted 11 October 2015
I have used my accountant to claim my SARS tax return two weeks ago. But there's no response, what is the delay?
Maximum salary amount in order to legally not have to submit tax return.
Posted 11 October 2015
How much money must I earn (ie. Gross monthly salary) before I need to fill in/submit a tax return with SARS (irt12?) Also, can my employer force me to submit a tax return? I'd prefer not to if possible.
Does disability influence the tax calculation on lumpsum pension fund payout?
Posted 9 October 2015
If I have been really receiving a disability income from my place of work, how does this affect my pension fund lump sum payout? Is disability taken into account when the lumpsum is taxed?
Can I claim for old returns?
Posted 9 October 2015
If I never claimed tax from 1994 to 2013 in my working period can I still claim if im not working at this moment.
Should I pay tax if earning that amount
Posted 9 October 2015
Im earning 1. 559. 20 per week do I need to pay tax
Savings
Posted 9 October 2015
I have a savings account with R40,000 with interest of 1,991. 28 this financial year. Does this need to be declared and if so where does it go on the tax form.
Tax refund waiting for me?
Posted 9 October 2015
Hi I'm currently unemployed since 2010 & dont have any banking details or cash. If possible? TaxTim can u please check if there is a refund dew to me & than deduct whats due to u from there?
Do I declare money sent from Abroad?
Posted 9 October 2015
I have been Living and earning outside of SA for 2 years now, most of the money that I have earned is invested outside of SA. I have however set money back to SA to cover misc expenses related to the rentl of my property. Does the money sent back to SA need to be entered onto my tax return? If so, how?
MEDICAL TAX CREDIT REFLECTED ON IRP5/IT3(a)
Posted 9 October 2015
1. I am retired and a deduction for my Medical Aid Contribution is made from my monthly pension. My Tax Certificate displays a basic Tax Credit (R257 x 2 x 12) which does not include the extra Tax Credit for claims submitted to, but not paid by, my Medical Aid Fund. My neighbour, on the other hand, who also has a deduction for his Medical Aid Contribution from his monthly pension, received his Tax Certificate which reflects a Tax Credit taking into account a basic Tax Credit (R257 x 2 x 12) as well as his claims submitted but not paid by his Medical Aid Fund...
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Car Allowance Capped / eFiling adjustment considered.
Posted 9 October 2015
Dear TaxTim. I only recently realised that SARS have been capping my yearly travel allowance (code 3701) at R66,000 which is my monthly car allowance x 12. Thanks for your feedback on that. I do however qualify for an allowance of R100,000 per year based on value of the car and log book total vs. Business km's. When doing my onlie eFiling, the system did allow me to reduce 3601 Income and increase 3701 by the same amount that I decreased the income 3601. I am hoping that this will then prevent m...
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My tax number please for work?
Posted 9 October 2015
I'v got a new job,now they want me a tax number,I don't remember it.
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