On a leave payout of R9692,29 how much tax is to be deducted?

Posted 21 January 2016

My employer has decided to pay for my leave as I have resigned and the leave amount is R9692,29, how much tax is going to be decided on this amount?

How to calculate tax on bonus

Posted 21 January 2016

How is tax on bonus calculated?

No reply from SARS

Posted 21 January 2016

I still have not received feedback from SARS on my tax returns. Please follow up.

Interest free loan from parents

Posted 21 January 2016

My parents are lending me R500k to assist in purchasing my first apartment. This is an interest free loan and we have a loan agreement that specifies that I have a set minimum amount that I have to pay on a monthly basis (therefore I would not deem this a donation). There is however no set period for the loan as I may be able to pay more than the minimum amount. The loan agreement has been vetted by a lawyer. My folks are over the age of 65 and the money will be deposited straight into the attor...

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Detail required on tax payable on property donation

Posted 21 January 2016

My father has an un-bonded property (house) which he wants to donate to me (his son). 20% tax is payable on the value. When and by which individual is this payable? How is the property valuated, and by whom?

Living Abroad - nil return

Posted 21 January 2016

I have been working abroad for 2/3years in April, and was unaware I had to submit a nil tax return to SARS. I logged on and received a notice dated (current date - day of login)
Could you please confirm, I am not a provisional tax payer - do I have to file a nil tax return if no income in RSA
Also, what are the penalties for a late submisison of tax return (zero to pay)
How long to I continue to submit nil tax returns, or can you de-register?

What percentage will they tax her?

Posted 20 January 2016

Hi Tim me and my wife got divorced last year and she is going to get her 50% of my pension fund,she is 62 years old what percentage would they tax her on?

Tax on modelling income?

Posted 20 January 2016

I do modelling and get an amount of R780 before tax..... How much tax should I pay?

I worked less than 12 months during the tax year

Posted 20 January 2016

If I only worked for 10 months and 10 days continuous for the same employer what effect does this have on my tax payable. I was unemployed for the balance of the tax year (ie 1 month and 21 days unemployed)

Will my dad be taxed as his income if I pay his gap cover for medical aid?

Posted 20 January 2016

I want to pay GAP cover for my dad - he is the main member of the scheme and I the payer. Will he be taxed on the premium of the gap cover as income?

Provident fund withdrawal

Posted 20 January 2016

I'm currently planning on changing jobs my provident is currently 95000. What happens to my money with the new withdrawal laws? will I be able to cash out the full value

Vehicle Finance - should I be noting my monthly vehicle installment on tax return

Posted 20 January 2016

Finance / Other Costs - Travel Allowance

Hello,

just to confirm the vehicle I current use for business travel is financed - would this be where I enter my monthly finance installment or is this not supposed to be noted on a tax return?

Do I have to pay tax if I earn R6000?

Posted 20 January 2016

I've just started my internship this month and I am expecting my first pay month end. I earn R6000 and I have registered for a tax number, do I have to pay tax?

Tax return to SARS

Posted 20 January 2016

I submitted my tax return 16 November 2015. And from that time until now im waiting for payment. I have been calling SARS twice a week since then and every time I call them  its a different story. I'm currently out the country working in Ghana and is  difficult to call all the time. All my paperwork is handed in and correct. They keep on telling me I'm under audit and they will escalate it for me. What can I do?

How will I benefit on tax as an Uber partner?

Posted 20 January 2016

Hi Tim I am a partner of Uber, ride sharing mobile app, owning my own car and working my own hours. Uber regard me as an independent contract driver. What would the tax implications be for me as an individual?

What will be the tax benefits as a company?

Independent contractor reference material

Posted 20 January 2016

As an independent contractor in the information technology sector can I claim reference and text books that I purchase from tax? - in many cases we in South Africa do not have access to some of the international training and this is one of the ways we keep our knowledge current and stay marketable.

When to deduct PAYE?

Posted 20 January 2016

We have a temporary employee with a 3 month contract. The employee will not claim UIF and as she is a housewife this income will not be declared. Must we deduct PAYE?

Clarity on having 2 cars -company car vs car allownace

Posted 20 January 2016

I am a shareholder in a private company. I get a company car benefit of R800 000 to be used for 1 or 2 cars. I am for best way to structure package. My wife has a R200 000 car and I have a R400 000 car. I do very few business km and ride my private motorcycle to work mainly. I am thinking of switching my car to car allowance. I assume that if I switch then my wife's car is no longer a company car and there are no tax benefits/deductions allowed for her car? As far as I am aware you cannot have...

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Is transferring of RA funds between RA's considered non-pensionable income

Posted 19 January 2016

I am considering changing the retirement annuity I currently contribute towards. If I ask the funds to be transferred from one to the other, would this amount be considered as non-pensionable income when I file my tax return. If so, am I therefore liable to pay tax on this amount even though it is being transferred from one RA to another directly without coming to my bank account directly.

Will I be required to take one third of my pension fund if I resign in June 2015. Turning55 in Sept

Posted 19 January 2016

I am on an pension fund and was planning to resign in June before I turn 55years in September 2016 so I could get all my pension fund and not get one third. With the new laws will I still be able to take all my contributions or I will be required to take one third only?

Company Tax?

Posted 19 January 2016

Can you help register my company with SARS or do you only help with individuals? I need to register my company in order to get a reference number before I can apply for PAYE and Income Tax. Only once I have this reference number can I apply for Income and PAYE tax and only once I have an Income Tax Number can I apply for my permit.

Percentage of resignition

Posted 19 January 2016

How much money will be deducted by SARS on resignation with 430000,00 for 10years 6months?

Provisional tax expenses to claim

Posted 19 January 2016

As a provisional taxpayer, what expenses can I claim to reduce my tax. I travel to clients, can I claim my travelling, also I had to replace engine and clutch I this tax year, can I claim for these expenses and what portion would I get back from SARS

Total Employees Tax and PAYE Queries

Posted 19 January 2016

If the Gross Remuneration (Annual) is R 72,035. 04, what will the Total Employee's Tax be? (Pay of R6002. 92)

Also if the Gross Remuneration (Annual) is R59,399. 52 what will the Total Employee's Tax be? (Pay of R4949. 96)

What PAYE should be paid on these Salaries, if any?

How can the tax directive be escalated?

Posted 19 January 2016

My fund administrator applied for my tax directive with SARS but it was rejected saying my tax number is invalid. I then phoned SARS and they confirmed all my details are correct but there is an error so their IT guys must look into it. I need my provident fund spy out. My problem is that they said it takes up to 21days,I need this money desperately. What can I do? Thank you Tim.
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