Payment to spouses for admin work

  Written by Marc   Posted 5 February 2016

I am self employed and work from home. My wife helps me with admin part time. Am I able to pay her a reasonable market fee and deduct this from my income. My wife also contracts for other companies. What the implications for preparing tax returns.

Compulsary registration

  Written by Marc   Posted 5 February 2016

When did everyone have to register for tax, regardless of their income?

Gift tax on a amount received in January plus an additional amount of R330,000 coming in march

  Written by Marc   Posted 5 February 2016

I have already received a money gift from my sister in the uk for R70,000 this year. She now wants to send an additional R330,000 in order for us to move to another property which is more expensive than the one we have. How much tax would we have to pay. Would it help if R100,000 was deposited into my husbands account although we are married in community of property

PAYE for employee with 2 employers

  Written by Marc   Posted 5 February 2016

I am sharing a secretary between me and a colleague. We are working in the same office. We pay her a total of R8000 p. M (R4000 each). Obviously PAYE should be deducted based on her total yearly income (R96000) and paid to SARS before the 7th of each month. Is it fine for me and my colleague to split the PAYE and UIF contributions and pay those separately to SARS, and issue her one payslip between us? If so, does she need two IRP5s issued?

UIF deduction from Salary

  Written by Marc   Posted 5 February 2016

On what amount do you calculate UIF deduction? On the gross salary amount? And would this calculation include overtime compensation or is the UIF deduction strictly on the base salary?

R366 364.00 per annum TTC and my pension will be at 10 percent, what will my net be

  Written by Marc   Posted 5 February 2016

If a company offers me R366 364. 00 per annum TTC and my pension will be at 10 percent, what will my net salary be? No medical aid deductions applicable

Tax Free savings accounts for married couples who are both provisional tax payers

  Written by Marc   Posted 5 February 2016

Hi, My wife and I are married in community of property and are both provisional taxpayers. My wife does not work and I am retired. Our income comes from investments and for tax purposes such income is divided equally between us. My question is with regard to tax free savings accounts. In the circumstances which I have described, are each of us entitled to open tax free savings accounts?

Individual or provisional tax?

  Written by Marc   Posted 4 February 2016

I'm working as a financial adviser,I earn on commission,which form should I fill in
Individual or Provisional tax?

Query re first time tax for new small unregistered business

  Written by Marc   Posted 4 February 2016

I left a permanent job and started a freelance design business in July 2015. My Personal income tax for last year is up to date. I need to start paying tax on my business but have no idea how this works. I am using my personal bank account to receive payments from clients for design services. I am not yet breaking even and can barely pay my bills. I am not making a profit yet. I have no idea how tax works. I need help and wondered if signing up to TaxTim would be the way to go? I would need to b...

Read more →

Audit income statement

  Written by Marc   Posted 4 February 2016

The SARS auditor is asking for an income statement to explain why I have a lose of R16 000. This I assume was from my car travel expenses. Why are they asking me for this?

Do I need to register as a provisional taxpayer?

  Written by Marc   Posted 4 February 2016

I am permanently employed but have recently started a different business on the side as a sole proprietor ( but the "Company" has its own bank account). Please advise whether I need to register as a provisional taxpayer for this business, and if so, do I need an accountant to do the process and claim back any deductions?

IRP6 wrong period

  Written by Marc   Posted 3 February 2016

Good day, I mistakenly requested an IRP6 for the wrong period, how can I "undo" that?

Is it an expense of must it be depreciated?

  Written by Marc   Posted 3 February 2016

I am quite confused and google doesn't help. I am a freelancer and I work from home. I have a dedicated office therefore I deduct my business expenses. I recently had to upgrade my computer network - my question is, is this an expense i. E. Do I deduct the amount I spent buying the computer, or do I have to do the depreciation calculation? Is there some monetary limit to make it easier to figure out when it is an expense and when the depreciation calculation must be applied?

All pay user have a tax number

  Written by Marc   Posted 3 February 2016

Can all pay people have a taxnumber

What return must I submit?

  Written by Marc   Posted 3 February 2016

I owned a business for portion of the year and made drawings from the business. Then I leased out my business for the remainder of the year and received rental. Do I fill out an ITR12 tax return. If not, what form do I complete?

Does tax threshold still apply to me at age 78. I understood that I shouldnt pay tax at all

  Written by Marc   Posted 3 February 2016

Thanks for helping with my tax return! I expected to get a bigger refund. I am 78 and understood that any tax paid would be refunded in full, but am told there is still a tax threshold?

How do I register tax for a sole trader business as well as a salary?

  Written by Marc   Posted 3 February 2016

I earn a salary of R10 000. 00, My employer submits the paye. I have started a business sole trader in August 2015. Can I register for the business on my current tax number and what do I need to fill in.

What tax is payable a lump sum withdrawl on pesreve policy

  Written by Marc   Posted 2 February 2016

I have two preserve policies with liberty which have matured. I want to take the total out as a lump sum. What tax will I pay the values are R 452027 650610 ===R 1 102637

Clarity around donation tax on the side of the donee not donor.

  Written by Marc   Posted 2 February 2016

I registered and wanted to buy one of your packages in order to ask more questions but not sure what to buy. Don't need you to do anything yet because I have a tax practitioner but have certain concerns about how our tax is done. I need to decide what to do. My husband and I are in Christian ministry and mostly receive donations from people who are friends that have nothing to do with our ministry and do not receive ministry from us that could be seen as service rendered. They can and some have also stopped supporting at any time without notice...

Read more →

Get tax up to date with SARS?

  Written by Marc   Posted 2 February 2016

I have not submitted my tax for one period and the next to come. I was fully employed and now freelance. I'd like to get my tax up to date the most affordable way. My partner moved back to SA over 10-15 years ago and has not worked all of that time - some of it only - and not yet done any tax returns. We'd like to sort this too.

Does receiving a car allowance when l have a car bought cash have impacts on my tax?

  Written by Evan   Posted 2 February 2016

I bought a car cash before getting my current job. I receive a car allowance at my current job and am not willing to change my car anytime soon. Is that an issue with SARS? Is that going to affect my tax, if so how?

Tax on Life Insurance savings benefit pay out

  Written by Marc   Posted 2 February 2016

I have a life insurance policy which I need to cancel. The policy includes a savings benefit which will be paid out to me upon cancellation. Will I pay tax on this amount and if so at what rate?

So I can find my existing tax number via contact?

  Written by Marc   Posted 2 February 2016

So I can find My existing tax number via contact?

Where do I find the SARS registration form?

  Written by Marc   Posted 2 February 2016

I registered for SARS SARS eFiling and they sent me an email saying
"Please fax the SARS eFiling Registration form, together with a copy of your ID"
Which registration form is this? I can't seem to find anything on their site

Any help would be greatly appreciated

Does SARS tax international lotteries prize money?

  Written by Marc   Posted 2 February 2016

Does SARS tax international lottery prize winning money when it comes to South Africa?if yes what is the percentage that SARS tax and what category is this tax?
Older posts →← Newer posts    54  55  56  57  58  59  60  61  62  63  64  65  66  67  68  69  70  71  72  73  74