Confusion about claiming expenses

Posted 26 January 2016

I earn a monthly income on contract basis from a company, but I also freelance from home. Does this make me a provisional taxpayer and an individual taxpayer?
does this mean I can claim tax back from expenses such as petrol, cell phone and home office space?

IT34 notice

Posted 26 January 2016

Good day

SARS has issued another notice IT34, kindly forward to me.

Can I submit a tax return with both provisional tax and IRP5 information?

Posted 26 January 2016

Hi there! I am a freelancer and earn about R120 000 a year. Some of my clients pay me the exact amount I invoice them, but two of my big corporate clients deduct tax before paying me. Can I include all this information in my first provisional tax return?

How much will she be taxed

Posted 26 January 2016

Hi TaxTim my daughter is 11 years old she does acting part-time now I want to know as she earn R1500 per shoot, she only had 10 shoot how is she going to be taxed. She has a tax number.

Would I get the refund originally calculated after verification assessment is complete?

Posted 26 January 2016

When I submitted my tax return, I received an ITA34 informing me that I am due a R3 000 tax refund from SARS. Then I received a letter from SARS asking me for supporting documents, for verification assessment, which I had then submitted. Now I receive further correspondence regarding the verification assessment saying that "no adgustment has been made to the assessment". Does this mean I still get my R3 000 tax refund? And if so, by when can I expect payment of this refund?

What is the final payout on R968876.30 after tax

Posted 26 January 2016

My accumulated pension fund is R968876. 30, if I resign how much will be my payout after tax.

Tax implication on Buying Namibian property and Rental income from Namibia

Posted 26 January 2016

What is my tax obligation/implication when firstly, buying a property in Namibia and secondly, after building on it renting it out and earning rental income on a monthly basis. I am an employed SA citizen. How do I declare this on my tax return

CGT on deed of sale or on date of transfer of property

Posted 26 January 2016

I sold a rental property in my personal capacity and the deed of sale was 22 January 2015 but the deed of transfer was 6 months later. When am I liable for CGT? Tax year 2015 or 2016?

Give me an example please R500 p/m x 30 years

Posted 26 January 2016

I have a retirement annuity with Momentum. I only pay R500 a month and want to know on the day I retire if 2/3 will have to be reinvested in a annuity (to pay me interest every month) or if there is a certain threshold whereby I get 100% out on the day I retire?

On SARS website the use the wording "annuity interest lumpsum" which tells me its on the "interest" part on where you might get something back.

Income TAX for temp job with total income under tax threshold

Posted 26 January 2016

Will be registering with SARS for income tax this coming week. Doing a temporary job for January and February. 1. The business owner is telling me that will deduct 25% from the amount agreed, although for the two months (Jan and Feb) the total amount will be below the annual tax free threshold (R73 650)
Is this correct?

2. Will I be able to recover all the TAX, which will be deducted, when I submit the tax return for 2016?
(the actual amount is R63K and my tax will be friken R15 750 in total!)...

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How do I gain access to eFiling to see the progress on my returns, returns done by tax practition?

Posted 26 January 2016

I have a tax practitioner that does my tax returns on my behalf. How do I gain access to SARS eFiling to see the progress on my tax returns?

Tax payable on unit trusts in us $ when converted to cash

Posted 26 January 2016

Tax payable on unit trusts in US $ WHEN CONVERTED to cash

Employee tax claims

Posted 26 January 2016

Can one claim for parking expenses at their permanent place of work in south Africa?

Pension resignation benefit for tax purposes.

Posted 26 January 2016

If my resignation as a dept educator gives me a payout of R320000 as a pension resignation benefit how much tax would be deducted

PAYE calculation on Tempory/Part time employee

Posted 26 January 2016

Good day, if an employee has a 6 month contract, does he pay more tax than a permanent employee and if so, what %?

How should I incorporate a charitable donation in my tax calculation?

Posted 26 January 2016

According to SARS, "Deductions in respect of donations to certain public benefit organisations are limited to 10% of taxable income (excluding retirement fund lump sums and severance benefits)". Assuming that my taxable income is R100,000, I can donate a maximum of R10,000 to a qualifying 'public benefit organisation'. In my tax calculation, should I deduct that R10,000 from my taxable income, or from the amount of tax that I owe? If I can deduct it from the amount of tax due to SARS, the latt...

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Pension resignation benefit

Posted 26 January 2016

If my resignation as a dept educator gives me a payout of R320000 as a pension resignation benefit how much tax would be deducted

How to calculate provisional tax Feb 2016

Posted 26 January 2016

As a provisional tax payer what are the periods (months) that I need to consider in order to calculate my tax submission for 28 Feb 2016?

Is SARS definition of 'taxable income' circular with respect to donations made?

Posted 26 January 2016

According to SARS, "Deductions in respect of donations to certain public benefit organisations are limited to 10% of taxable income (excluding retirement fund lump sums and severance benefits)". But taxable income is the difference between gross income and deductions, one of which is the amount donated. So the SARS definition is circular, and therefore impossible to calculate. Or am I missing something?

When am I geting the money

Posted 26 January 2016

Hi guys I claim on the 06 January 2016 it was my first to claim the guy that was helping me he told me the money will be inn in two days still never get the money. I started 2006 the guy told me I owe 2 years so I will get R700. 00 how possible is that

Capital gains tax on property

Posted 25 January 2016

I have sold property and would like a estimate how much CGTi I must pay.

How do I get an IRP5 from a previous employer (strained relationship due to CCMA applic)

Posted 25 January 2016

I am struggling to get an IRP5 from a previous company. Can I submit so long without the IRP5? If not, what do you suggest I do to get it.. Do I have to go thru SARS?

Full time employee who does after hours freelance work, should I register as a provisional tax payer

Posted 25 January 2016

I am a freelance web designer / developer. I work a normal 8 - 5 job during the day from which I get a monthly salary from my employer, I fall into the lower end of this tax bracket R377 451 - R528 000. On some months, I get side projects to work on and during the course of last year, the freelance business made approx R40000 (forty thousand rand) after expenses. I would like to find out if I should register as a provisional tax payer.

How do I deregister as provisional tax payer

Posted 25 January 2016

I got an sms from SARS saying that I owe them R5500. When I queried this,,my accountant said that SARS registered me as a provisional taxpayer, which I am not. I have a small private business in the health industry and the only other income I have is my son's maintenance from his father. How did this happen? And how can I deregister as provisional taxpayer?

PAYE Requirements for companies

Posted 25 January 2016

I have a PTY(ltd) company and would like to know if I must register for PAYE. I am the only person/owner/director in the company with no employees who derives an annual gross Salary of R72000pa.
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