Allocation of rental income on jointly registered bond.
Posted 18 November 2015
My partner and I rent out the garden cottage of our primary residence, the bond of which is jointly registered in both our names. We are not married. The rental is paid into her account, but I pay for most of the expenses from my account... The bond on the property etc. How should the rental income be declared - hers since it is paid into her account, or jointly (50%-50%) since the asset is in both our names and we otherwise share household expenses?
What type of forms to submit to represent your vehicle logbook
Posted 18 November 2015
When asked to submit your logbook to SARS, can I use the petrol claim forms for the starting and ending month of that financial year or should I include all the months?
Do I need to fill in a return?
Posted 18 November 2015
I receive a disability pension and it has become tax free. Do I need to fill in a tax return?
Meaning of efiling status
Posted 18 November 2015
What does it mean when your SARS eFiling status shows Filed.
Provisional Tax on TaxTim
Posted 18 November 2015
I need to pay provisional tax on additional income I am earning this year. Do you guys do this as well?
DOES TAXMAN TAX PERFORMANCE BONUS IN PUBLIC SERVICE
Posted 18 November 2015
DOES TAXMAN TAX PERFORMANCE BONUS IN PUBLIC SERVICE
Subsistence allowance expenses
Posted 18 November 2015
If I received a taxable subsistence allowance, but did not keep record of expenses (or proof) will I be able to deduct a deemed expense on my tax return.
How do you calculate holiday pay taxes.
Posted 18 November 2015
How do you calculate annual leave pay taxes.
Need eFiling Registration Form to send along with ID copy to complete registration process
Posted 18 November 2015
I have just registered for SARS eFiling and still need to wait 24hours for verification to be complete. I then received an email telling me to complete the registration form and fax it with my ID to complete the registration verification process. I can't find this Registration form, could you please make it clearer?
Maximum amount of money received as a gift before being taxed.
Posted 18 November 2015
I received monetary gifts for my weddings, kitchen tea, bachelorette party and engagement party. I deposited the money on a monthly basis to avoid one big amount. How will this work for my income tax return. Will I be taxed on this? I wasn't sure of the best way to do it. Please help.
How should I complete the ITR12 form without a IRP5?
Posted 18 November 2015
I was employed full-time until end of September. After that I did locum work. I don't have an IRP5 for this period, since I was never permanently employed. How do should I complete the ITR12 form in this case?
Documents for verification with SARS?
Posted 18 November 2015
I submitted documents for verification last Friday via your site to SARS. I've still not heard anything from them. How long do they take to respond? Do they respond?
Multiple rental properties
Posted 18 November 2015
I have multiple rental properties. Do I add all the income and expenses together? On the SARS form, it was always specified separately
Supporting documents
Posted 18 November 2015
Hi Tim, I am going through a bit of a nasty divorce and I was working for my inlaws, Submitted my tax return and SARS is now asking for supporting documents. Even tho I was not up for Audit. I have spoken to my attorney and he said he would request the documenst from my inlaws eg my IRP5. I do have a refund due, but the only thing I claimed for was medical aid. Can I just submit that or must I wait for my IRP5?
Income from car sold, in behalf of someone else
Posted 18 November 2015
I bought a car for my mother as she is not credit worthy. She sold her old car and that money was paid into my bank account. I use that money and an extra R20 000 to pay of on the new car. How do I declare that income on my IT12?
How do I pay tax as an independent contractor
Posted 18 November 2015
I am an independent contractor. I started working part-time but have since progressed to full-time. Previously I did not earn enough to qualify to pay tax. However, from the beginning of this year working full-time I would need to pay tax. I have been onto the SARS website which shows my ITA34. I submitted this to SARS and it came back that I don't owe anything, which I am not sure is true. I don't want to have any trouble with SARS for not paying. What is the best way to go about in this situat...
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Tax percentage on provident after resignation
Posted 17 November 2015
I have been employed for 3 years . Provident fund I approx 45 k. What Is tax percentage since I have resigned. ?
Capital Gains Tax of a property that was 5 years primary residence and then 6 years Rented out?
Posted 17 November 2015
I have a second property that was my primary residence for 5 years (bought for R200k) and then rented it out for another 6 years. Not I sold it (R500k). Do I pay Capital Gains Tax for the entire 11 years (R300k) or can I pro-rata the Taxable Capital Gains as (6/11 x R300K = R163. 6k).
Registering for tax
Posted 17 November 2015
Hi, im working now as a temp for only two months. However in the past I have never had the need to pay tax because I have never earned that much per year to pay. I used to earn between 3500 to 6000. Now the company want a tax number? Do I need to register or how do I go about? Thx
How will the last year tax returns affect the new year if its not paid?
Posted 17 November 2015
If I have an outstanding amount to pay, will it affect the new year tax returns?
If I submit 2 ITR12 form , will I receive two ITA34 assessments from SARS?
Posted 17 November 2015
If I submit 2 ITR12 form, will I receive two ITA34 assessments from SARS?
If I use both codes will I be taxed twice on one amount paid to me
Posted 17 November 2015
I have an IRP5 from Glacier Financial Solutions for my pension payments and they have used the amount paid to me under code 3610 and code 3698. If I enter both on my tax return will I be taxed twice?
Period for EMP501 2015-08
Posted 17 November 2015
I want to know for which period is the 2015-08 EMP501 is it from March 2015 to August 2015 or is it from March 2014 to August 2014?
Do you get taxed more in year that you had income or where there was minimal or no income?
Posted 17 November 2015
I left my job in August 2015 and want to withdraw a portion of the provident fund in Nov 2015, i. E. In the same tax year as when I worked 6 months (March - August 2015). Am currently unemployed/self employed. What is the best time to withdraw in such a way as to save on tax. In 2015 year or wait for new tax year (Feb, 2016) where income is R0. 00?.
Can't get old IPR5 from previous employer
Posted 17 November 2015
What should I do if I can't get my old IRP5 from my previous employer, SARS is owing me R6000
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