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?
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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
Written by Marc
Posted 26 August 2015
Written by Marc
Posted 25 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
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
Written by Marc
Posted 25 August 2015
I have done freelance consultancy work for 2 companies over a period of 3 months. The other months of the tax year I have been in fixed employment at a companies deducting PAYE with no travel allowance. Have not kept details of fuel and vehicle expenses. Can I claim a travelling expense for the 3 months based on kilometers driven ito the fixed cost and variable cost travel allowance method? If not what method should I use for travel expenses as a deduction against the production of the consultan...
Written by Marc
Posted 25 August 2015
Written by Marc
Posted 24 August 2015
Written by Marc
Posted 24 August 2015
I am helping someone with their tax. The person is 66 years old and has an monthly retirement annuity payout of R7000 and monthly interest (from investments) of about R4000 that gets paid out also monthly to them. Should a tax return be filed,or are there exemptions? I know the over 65 year olds get exempt of certain amounts for interest earned,but im not sure if that is the only excemption,or is there a total amount of income they are excempt of? Or must you add the two excemption amounts toge...
Written by Marc
Posted 24 August 2015
