Any tax on inheritance of a house

  Written by Evan   Posted 24 November 2015

My daughter will inherit my primary residence. Are there any tax implications for her and/or for my estate? Like CGT for example.

What taxes would be applicable to my gross salary in UK?

  Written by Evan   Posted 24 November 2015

Dear Tim, I am a provisional tax payer in South Africa. What would my tax parameters be if employed and paid by UK company?

Completing Statement of Assets & Liabilities being married in community of property-what do I do?

  Written by Evan   Posted 24 November 2015

1. With respect to completing the Statement of Assets & Liabilities: I am married in community of property. Do I declare the value of joint assets/liabilities & SARS does the 50/50 split or do I declare 50% & my wife the same?

2. We receive income from our profession taxed in our own hands so how does this work re the completion of the Statement of Assets & Liabilities with respect to business assets, income & profit etc?

Income from consulting

  Written by Evan   Posted 24 November 2015

Where do I indicate my income from freelance consulting? I was not employed and thus did not receive an IRP5/IT3a from an employer.

Do all provisional tax payers pay twice a year?

  Written by Evan   Posted 24 November 2015

I am sure I am a provisional tax payer, however, I have only paid tax once a year in the past. Is this right?

Find out if I am a provisional tax payer?

  Written by Evan   Posted 24 November 2015

Am I a provisional tax payer?

What to do with medical slips if not member of medical scheme?

  Written by Evan   Posted 24 November 2015

If I am not a member of a Medical Scheme; but keeping the slips of Medical Expenses, can I fill that amount to my Tax Return form. If yes; where to fill it?

Declaring financial derivative gains on the ITR12

  Written by Evan   Posted 24 November 2015

I earned income as the result of trade in financial derivates. I am not a professional trader and do this in my spare time. How do I declare this on the ITR12 and how do I claim expenses against this income? Is this defined as a business or as investing and capital gains? I used my home office and own equipment for financial research and online trading. In a previous answer you stated that this type of income can be declared on the ITR12 but somehow I missed it in the TaxTim Q&A process. When I ...

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Can you assist me to retrieve my SARS eFiling log in details?

  Written by Evan   Posted 24 November 2015

Can you assist me in retrieving my SARS eFiling log in details?

Total tax withheld

  Written by Evan   Posted 24 November 2015

Good day, I've completed my tax return. Section 4149 on the completed form says "tax withheld". what does that mean?

Wrong IRP5 submitted by employer

  Written by Evan   Posted 24 November 2015

My employer submitted wrong IRP5. What do I do?

Medical aid claim for claims submitted after year end

  Written by Evan   Posted 23 November 2015

Hi. I submitted a medical aid claim after the tax year end for a procedure which was done in February 2015. Medical aid only paid a portion of the claim due to the nature of my medical aid plan. The amount not paid for by the medical aid is not reflecting on my medical aid tax certificate for 2015. I do have the original invoices. Can I add it on my tax return for this year or only next year?

2014 correction - wait or submit along with 2015 now?

  Written by Evan   Posted 23 November 2015

If I need to make a correction on the 2014 tax year. Do I need to get that resolved before submitting my 2015 tax?

Do I complete my tax return if I started work in April 2015 earning R8000?

  Written by Evan   Posted 23 November 2015

I started working at my current company in April 2015 earning a gross of R8000, before I was earning R5800. Do I file for tax?

Refund not received yet

  Written by Evan   Posted 23 November 2015

Good day. Done my SARS E-filing. Got confirmation of a credit of a couple of hundred rands due to me. This was quite a few weeks back. I haven't recieved any refund yet. What should I do, wait a while longer?

Over the counter medication vs prescription medical claims

  Written by Evan   Posted 23 November 2015

Why can I not claim for over the counter medicines that I have to purchase and is then cheaper than going for a doctor's consultation and still pay for prescriptions?

Provisonal tax versus monthly tax

  Written by Marc   Posted 23 November 2015

I am currently an independent consultant and I know I currently qualify as a provisional tax payer. Is there a way of paying my tax monthly (as a normal employee) by myself without having to pay the two major payment twice a year?

Can you assist with complicated tax return, involving extra income, provisional tax etc?

  Written by Evan   Posted 23 November 2015

My situation is pretty complicated. I am a provisional tax payer. I earn extra income for 3 properties, but also from a side business. All goes through my own personal bank account, so it is personal tax all of it. I am fully employed, however I was retrenched in 2014 June. I have an income protector and claimed from it for 2 months, until I started work again in September 2014. I have retirement annuities, medical aid etc.

Am I able to use your services effectively and accurately in...

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Tax on Receiving Foreign Funds over R100 000

  Written by Evan   Posted 23 November 2015

My mother is moving to RSA and wants to transfer an amount of R250 000 into my account to 'hold' for her until she sets up her RSA bank account. The amount is in EUR. I spoke to SARS who claim that I can declare it as 'non-taxable income/gift' in my tax returns. I asked them to clarify donations tax but they insist, it will not be counted as a donation unless I file an IT144?

a) is this true; every person and website I have checked with refer to donations tax @ 20% (on amounts > R100 000) ...

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Independent contractors - which form?

  Written by Evan   Posted 23 November 2015

1- If a person is an independent contractor which form do they fill?

2- What happens if they have not been paying provisional tax, are there penalties?

Where do you include deductions in terms of a business as a sole proprietor?

  Written by Evan   Posted 23 November 2015

I know a medical practitioner who in addition to working at a hospital, started their own private medical operations in Jan. As a sole proprietor, I understand that the profit/loss should be included in their personal tax return.

Where on their tax return should they fill in deductions of expenses incurred in the production of income ito the practice?

Assets & Liabilities, I'm a member of a CC that is dormant, do I still need to account for that?

  Written by Evan   Posted 23 November 2015

Assets & Liabilities, I'm a member of a CC that is dormant. Do I still need to account for that?

Verification of income tax declaration

  Written by Evan   Posted 23 November 2015

I have submitted my tax returns and they called for my 2013 tax return which I did, they then called for verification of income tax declaration for the PAYE amount. I then went to SARS to submit my IRP5 from 2013 to show them proof of my PAYE amount. This isn't a real complex case all they need to verify is my PAYE amount.

How long will it take them to pay out my refund with regards to the above case?

Out of pocket medical expense of R3920. Will that help my refund?

  Written by Evan   Posted 23 November 2015

Out of pocket medical expense of R3920. Will that help my refund? I have no medical aid.

Tax on allowance for laptop?

  Written by Evan   Posted 23 November 2015

Is there tax on laptop allowance?
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