Severance Pay Tax

Posted 10 July 2015

Last year I was retrenched, took the package, and was told that the severance piece was tax free, as it was way below the R500k, just under R40k, got a directive.

Now looking to do my tax return, the amount shows under income (source code: 3901) adding it to my income, however as I was not taxed on it when it was paid, it appears to SARS that I didn't pay the tax then. So now it looks like SARS is asking me for the tax on that amount, as my prelim calculations is saying I must pay in close on R4000?...

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What must I do: Reminder to respond to tax type move request

Posted 10 July 2015

Hi Tim
I received sms message which reads: Reminder to respond to tax type move request with reference xxxxxxxx. Failure to respond within 2 days will result in an automated resolution.

Calculations of refund after submitting correction

Posted 9 July 2015

I completed my SARS tax return. My IT34 said I was being paid an amount back. I then realised I had made a R40 error on my tax return for my laptop depreciation. So I amended on my tax return and re-submitted. My calculation then said I was receiving about R4 less than before. Once submitted I received an IT34 stating I had to pay SARS R4. Which is the correct IT34 now? I can't possibly lose all the money I was getting back for changing an amount by R40? I was also requested to submit the laptop...

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How can I change my banking details on my tax return

Posted 9 July 2015

How can I change my banking details on my tax return?

Is there penalties for late submission of IRP5?

Posted 8 July 2015

If I submit late IRP5 for 2013 and 2014 now do I get a penalties?

Login name and security questions

Posted 8 July 2015

I cant find my login name for SARS eFilling.

Can you help me get my old IRP5?

Posted 8 July 2015

I am looking for my IRP5 and I do not work there any more.

What message to look for when done with audit

Posted 8 July 2015

Hi how does it work if I get a message that says IT34 and that I have been selected for a audit? I know that they're going to audit me. But what will the message say when they are done?

Do I have to pay provisional tax for my company and myself?

Posted 8 July 2015

I have paid provisional tax for my small business and taken the profits after tax for personal use. Will I have to pay provisional tax as an individual for that income?

Why can't I get R21,000 initially?

Posted 8 July 2015

Hi Tim, thanks for a wonderfully informative site.
On SARS eFilings my tax returns were different from that of what I have on my IRP5 mailed to me by my work, so I corrected it. Which came back as me owing R16000 to SARS so I disputed and loaded the original on, now it shows I'm entitled to a refund after R21000-16000.

I submitted documents as requested and I'm also for audit. My question is will they pick up that I made an error initially and not refund me for the entire amount...

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Claim back my returns

Posted 8 July 2015

Where do I start to claim for my PAYE?

Negative assessment notice amount?

Posted 8 July 2015

Hi TaxTim,

I have just submitted my first tax return and the assessment notice is a red negative amount of rands. What does this mean? Does this mean I need to pay SARS that amount? If so, how long do I have to pay them?

Should documents be uploaded to review or audit options

Posted 8 July 2015

I have been selected for Audit/Verification and need to upload documents. There are to options to upload docs on my dashboard - one says documents to review the other documents for Audit. Do I upload documents to both or just the review option.

Is the fee paid to TaxTim not tax deductable?

Posted 8 July 2015

Is the fee paid to TimTax not tax deductible?

Unsure about source codes 3697 and 3698

Posted 8 July 2015

If I have the below amounts on my IRP 5:

75,000. 00 - 3601
90,610. 00 - 3616

Would it fall under the following codes on my IRP 5 if the company does not deduct any retirement benefits bearing in mind that I was first a contractor from Mar - Aug.

75,000. 00 - 3697
90,610. 00 - 3698

Does these codes get taxed differently?

Confused by 4005 codes different on IRP5 and IT3(b)

Posted 8 July 2015

Hi,

The 4005 code on the IRP5 is different from the IT3(b) from the medical aid. Should I have any amount in 4040?

4005 = R 61,550 , but the IT3(b) shows R 58,802
3810 = R 20,506
4474 = R 20,506
4020 = R 7,486

Printing error for manual submission

Posted 8 July 2015

Hi, I am using Chrome and am unable to print out the Manual IT 12. The format is wrong and it is cutting of the edges.

I don't have my own bank account details

Posted 8 July 2015

Hi,

Please can you perhaps give me some advice? I am busy doing my tax return now and only thinks of it now... I don't have a bank account anymore and my salary etc is getting paid into my Dad's account. What must I do and how must I make to claim it now?

My ID and passport got stolen and I first need to get them before I can open my own account again. Is there any way that SARS can pay the money into the account my salary gets paid to?

Please if you can give me ...

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Claim for home expenses

Posted 8 July 2015

If I use your service, will my fee paid to you be deducted to the return and is there a guarantee I will get paid back for the home expenses? I do have a receipt for my laptop and printer, including measurements of the office space which is separate from the house (attached to the garage). I pay a bond for the house, rates and services. I am not sure how to calculate other things like my garden and the helper fees.

SARS AA88 DEDUCTION

Posted 8 July 2015

I'm paying SARS R500 aa88. My current balance is R2000 from R20,000. Can I claim back?

What to pay to SARS on a R80,000 house sold?

Posted 8 July 2015

Hi. I sold my house for R80,000. How much tax do I need to pay on that?

Wear and tear allowance on sars code 3713

Posted 8 July 2015

I received a laptop allowance on a monthly basis. Laptop belongs to me. This appears on my IRP5 under source code 3713. I received this over 3 years. Can I claim a wear and tear allowance against this income?

I'm confused if I should claim over 3 years or just a single year as I've read different responses online. Also what supporting docs would SARS require? Would the tax invoice of my laptop be sufficient? Thanks

SARS refund delayed question.

Posted 7 July 2015

Good morning Tim, on the 1st of July I submitted my tax return via e-filing, on Friday the 3rd of July the status changed to assessed and a note saying that I should receive my assessment in my inbox within 2 weeks. I have not been select for an audit and am due a refund. I called the SARS contact number yesterday and was informed that my tax return had been assessed and was completed, however I have still not received any refund from SARS. My banking details etc are correct, I am just a bit con...

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Medical tax credit if I am sponsoring my Mom's medical aid?

Posted 7 July 2015

I am an employed person and have no trouble doing my tax return with SARS e-filing. What I would like to know is the following: Since October 2013 I have been paying my Mom's medical aid, she is a 70 year old pensioner (state pension grant) and not registered for tax. She is not on my medical aid as it is more affordable to have a separate medical aid for her.

This year she received a tax certificate from her medical aid. Is there any way in which I can claim for her medical aid cont...

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Refund time

Posted 7 July 2015

My return has been assessed with no mark for audit and I am due for a refund. Last year I got my refund quickly (a few days) - its been a week and nothing yet??? How long does is take and has anyone got money from them yet?
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