PAYE vs Provisional Tax
Posted 7 March 2016
I have a permanent job which caters for roughly 65% (660k) of my total gross income the other 35% (335k) is obtained by a business I run. Should I apply for provision tax and should my company be paying PAYE for me or should I be paying two payments as a provisional tax payer? How do I go about this if it is the case?
Claiming VAT without invoices
Posted 2 March 2016
Can I claim vat using bank statements - invoices are missing.
How do I calculate my company annual turnover excluding vat?
Posted 2 March 2016
How do I calculate my company annual turnover excluding vat?
Are training courses and related travel expenses tax deductable?
Posted 1 March 2016
Hi Tim,
I am a provisional tax payer in the health sector- I am not salaried and work for myself. Am I able to claim back on fees for training courses and the travel costs(flights, car rental)?
Secondly, I occasionally rent out my flat and wondered if this money is declared regardless of the rent earned or if there is a minimum amount from which earnings should be declared. Thanks!
Questions on provisional tax
Posted 26 February 2016
A second provisional tax payment should be made end of Feb of each year. Why would SARS effectively require individuals to submit a tax return before the last day of the financial year (28 Feb) when business related expenses and income might still happen?
Apart from wanting to know why this implementation, I also want to know how does the differences gets eventually settled when you do still have income or expences after you have filed late in Feb?
Should I register for IRP6 or IRP3?
Posted 26 February 2016
I found two forms on the SARS site, IRP3 which states it's meant for freelance artists and IRP6 for provisional tax. I'm a freelance artist so should I fill in and resister for IRP6 or IRP3 or both?
Can invoicing several clients constitute a salary and not trade?
Posted 26 February 2016
I privately tutor pupils at their homes and invoice several clients for this service. One of them pays me a monthly salary (but pays nothing to SARS) based on monthly invoices and the rest I invoice by the hour. Can I declare all of this as a single salary and pay it with my ITR12 or do I need to register as a provisional taxpayer?
I changed from being employed (normal IRP5 scenario) to self-employed during the last financial year so I am not yet registered for provisional tax
UIF for Commission Earner
Posted 25 February 2016
On my monthly pay slip it states I only pay tax and not UIF as I earn only on commission. It that right though? I earn between R10 000 and R12 000, it's different every month and what is the tax % for that bracket?
Why am I taxed twice in a month?
Posted 25 February 2016
My salary is divided into 2 payments per like I get my standard pay on the 15th of each month then all my allowances they follow on the 25th. So my question is why am I taxed twice in a month and why is the second tax deduction high than the deduction on the 15th?
Company car versus personal car and travel allowance
Posted 23 February 2016
A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work.
What is the most beneficial method in terms of tax:
to buy a car in his own name, or to buy one in the company name and use it for business and personal (will be small personal use)?
Can I claim VAT input even though I haven't charged VAT output?
Posted 23 February 2016
My PTY(LTD) voluntarily registered for VAT, However I have not being charging vat on the supplies my company makes and have not issued valid tax invoices for the supplies made. Can I still claim the input VAT from expenses incurred even though I have not charged VAT on my taxable supplies?
Claiming travel expenses on a fixed cost basis without an travel allowance
Posted 22 February 2016
I am self employed and earn commissions and fees. Can I claim a travel expenses on a fixed cost basis even if I don't get an travel allowance?
Is my previous company suppose to apply for a tax directive on retrenchment?
Posted 19 February 2016
I was retrenched last year July (2015) Once I had received my notice and my retrenchment package I noticed that they had taxed me on my retrenchment package. I asked the Payroll/HR department if they had applied for a tax directive to which they replied that it was not necessary. I told them that as far as my understanding went it was necessary to determine how much tax I should pay if any.
Fuel Reimbursement
Posted 19 February 2016
What tax code must be used when a company reimburses fuel only and business km's exceeds 8000km per annum. There is no refunds for wear and tear, repairs and maintenance or insurance. At present the code on the IRP5 is 3702, is this correct?
SARS Payout
Posted 19 February 2016
I owed SARS money (Statement of Account Period: 2015/07/28 To 2016/01/28), I submitted a dispute, and the following is now showing. SARS Status: Please note that your tax return cannot be processed immediately due to an outstanding Tax Directive. Therefore, manual intervention is required. SARS will advise you as soon as your tax return has been assessed 2016/01/28. When I followed up this is the newest update:
NOTICE OF ASSESSMENT: REDUCED ASSESSMENT 2016/02/15. The amount stated here is a negative amount/ amount with a minus infront. Do they deducted this amount from the amount I owned them, or do they owe me this amount?...
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Treatment of rental loss and living expenses while studying
Posted 18 February 2016
From Sep '14 to Oct '15 I temporarily left the employ of my company to study my MBA full time overseas. During this time I rented my primary residence in South Africa out. (a) Am I able to deduct the losses on the rental of my primary property (rent - levies - interest on bond - rates) from my taxable income?
(b) During the time I was away, I had to make use of savings to pay for living expenses (food, necessities, partial travel expenses, but NOT tuition, textbooks, accommodation, vi...
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How does it work now if you just earn commission but tax and uif does not get deducted?
Posted 16 February 2016
Hi. I used to work for company that deducted tax from my salary, so I'm a registered. But now I work for a company that does not deduct tax and I only get commission. My question is how do I claim my tax for my medical aid if I don't receive a IRP5?
How does it work now if you just earn commission but tax and uif does not get deducted?
Chairperson tax explained
Posted 15 February 2016
Please explain the following to me:
1. The taxation of non-executive chairpersons of small companies earning a monthly amount in directors (Chairperson) fees. (They work full time earning a salary from a different Company. )
2. Should the non-executive chairperson be treated as an employee on the payroll of the small Company whilst working for another company or can it be treated through normal finance department transactions?
3. Should the normal statutory deductions like SDL an...
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Are there separate tax tables for commission earners?
Posted 15 February 2016
I would like to understand and know how tax is calculated on commission earned. In other words it is taxed seperately from the gross income.
Cellphone expenditure deduction code
Posted 12 February 2016
I receive a monthly cellphone allowance. Under what code do I deduct the actual expenditure on my tax return on SARS eFiling? The "other" category has not historically been available to me.
Business travel claims with no travel allowance
Posted 12 February 2016
How does one go about claiming a vehicle that I use 70% for business and 30% private. I have a detailed log book and do about 18,000km business travel/year but I do not receive a travel allowance.
Can I deduct my Gautrain tickets from my tax
Posted 12 February 2016
Can I deduct my Gautrain tickets from my tax
Medical rebates when without medical aid scheme.
Posted 12 February 2016
Provisional tax payer. Over 75. No med aid. What can I claim for medical expenses?
Reimbursive travel
Posted 12 February 2016
For the 2015 year of assessment, my employer re-reimbursed me for travel. They paid me at the official SARS rate of R3. 30 per km, I traveled 6,691. 52 kms, it is thus my understanding that because this is less than the maximum allowed by SARS of 8,000km, this amount falls under non-taxable income and should be allocated to the code 3703. My employer allocated this to code 3702 on my IRP5. I corrected this on my tax return, yet SARS are of the opinion that this amount should fall under taxable i...
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Where in the ITR12 can I claim toll fees paid on business trip if I don't use actual costs.
Posted 12 February 2016
I have incurred toll fees while on travelling on business trips to clients. My employer does not reimburse this fees I incurred citing that I should cover them from the reimbusive travelling claim that I get. I don't use the actual cost incurred but rather the estimates as per tables. My question is, where in the ITR12 can I book this fees against my income.
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