Primary residence that is jointly owned by my wife and I considered a partnership agreement?

Posted 15 November 2015

My wife and I sold our primary residence this year. The property was on both our names. One of the questions on the tax return is:

"Was the joint ownership described in a contractual partnership agreement?"

Does this apply?

1st assessment vs 2nd assessment SARS

Posted 15 November 2015

Dear Tim, could you please advise how can SARS owe me on my first assessment and ask for additional document and now on the additional assessment they have indicated that I owe them the same amount they owned me in the first assessment? How can I go about disputing this? Many thanks

Tax on irregular income

Posted 15 November 2015

I am a freelance consultant and I get money on an irregular basis. Am I eligible to pay tax, and how would that be calculated? Following is an example of my income in a year:

Jan = R0
Feb = R50 000 (this the a sum of all clients for Feb)
March = R100 000
April = R0
May = R5 000
etc

Directive outstanding

Posted 15 November 2015

Quit my job. Got a new one. Had my pension transferred to an Alexander Forbes preservation fund. The full amount is listed on my tax return as lump sum income. Completing my tax return, I am told by SARS - "Lump sum declared by directive outstanding". What now?

Can a spouse be a dependent?

Posted 15 November 2015

My wife stopped working in December last year to further her studies. I have been supporting her financially this year. Can I claim dependency deductions for her costs of living?

Cash donation received from Mom R96,000 to pay monthly debit orders

Posted 15 November 2015

I studied full time in 2014 and my Mom deposited R8,000 monthly into my bank account so that I could pay my debit orders. The total amount received from her was R96,000. I am now completing my tax return for tax year ending Feb 2015.

How do I disclose this cash donation? I do not have to pay her back so it is not a loan.

Sole prop lending money from owner

Posted 15 November 2015

We are running a sole prop from home. During bad months we find ourselves batting to get work. We have taken money from our own personal accounts to put into the business - R20 000 one month and R15 000 another month in the same tax year.

My question is, I have taken the R35 000 and added it in as income. We pay it back monthly until the loan is complete. Where do I declare the R35 000 as it was used solely for the business?

Thank you

Need help to reconcile my filing, not filed since 2013!

Posted 15 November 2015

I haven't filed since 2013, can you help me reconcile my outstanding filing?

Does a foreigner with a 5 year contract to work in SA need to file a tax return?

Posted 14 November 2015

If a taxpayer from Germany has a 5 year contract to work in South Africa for a South African employer (of an international company), would that taxpayer need to file a tax return? The employer registered the taxpayer for income tax and is deducting PAYE on a monthly basis. The taxpayer earns more than the threshold and will be tax returning to Germany after the contract.

Those who pay own medical - where do I input Medical Tax Credit (MTC) on efiling?

Posted 14 November 2015

If you pay your own medical aid (employer contributes nothing) and you wish to get your Medical Tax Credit (MTC) do you input the MTC on e-filing under code 4116? Or is that only for when an employer contributes. If not where do you put it or does SARs calculate it based on your medical deductions section?

Foreign service income exemption

Posted 13 November 2015

I was hoping to pick your big tax brain before I submit my tax return and cause chaos at SARS.... I qualify for S10(1)(o) in terms of foreign services rendered as I meet the requirements in this regard. My dilemma is I don't know which part of my income I can use to claim the applicable portion of this exemption i.e. Income (3601); Annual payment (3605) etc. To further complicate the situation I had share options exercised in the same tax year!

Would you mind confirming which source codes I can use in the claim?...

Read more →

Travel allowance offshore

Posted 13 November 2015

Is the offshore allowance for travel R3000 for 2015?

Whats a rate for R5000 salary p\m

Posted 13 November 2015

How much tax should I pay from a salary of R5000 per month?

Auto completion letter

Posted 13 November 2015

Hi Tax Tim. I received a email yesterday from SARS. The letter stated... Auto completion letter. Does this mean I can expect the money SARS owes me anytime soon?
Thanks

What should I take into account as "Financial Instruments listed"

Posted 13 November 2015

I am a director of a private company. On my ITR12, I am required to complete the SOLALA01 section but I am not sure what should be listed under "Financial Instruments Listed"

Daddys Deals voucher

Posted 13 November 2015

I bought a Daddys Deal of 50% discount. Where do I enter the code?

Incorrect medical expenses, can I correct my tax return that is already submitted?

Posted 13 November 2015

I calculated the incorrect amount for my medical expenses, but I see my tax return is already submitted. Can I still change the amount? And how do I upload my documentation?

Can you complete the tax return for me?

Posted 13 November 2015

I have all data available. No patience or time to complete tax return.
Can you please assist?

Where do I declare full cash payment from pension fund?

Posted 13 November 2015

I transferred from one company to another that outsourced their information systems department with a section 197 transfer a year ago. I decided to withdraw the full cash from my pension fund, as the money in my pension fund could not be transferred to a provident fund without being taxed (not sure it this is correct). Could you please advise where to declare the full cash payout / income that I have received?

Is there any entitlement from GEPF after my pension money was paid?

Posted 13 November 2015

I have worked for the public service for 15 years and resigned end 2014. I received my pension pay out around February 2015. Is the anything that I still need to claim back from GEPF? by means of tax returns???

Documents for SARS

Posted 13 November 2015

Hi Tim,

yesterday I downloaded documents for SARS to the site. I just wanted to find out whether they have been submitted. Thanks
Deano

Stipend and Capital Gains Tax for student studying abroad

Posted 13 November 2015

I am a South African citizen who used to work in SA (tax registered), but have been studying full time in the UK since February 2015, being paid a monthly stipend of 1150 pounds by my financial sponsor (It sounds like a lot if converted to Rand, but it is barely enough). Do I have to pay tax on this income in South Africa?

I am about to sell a property in South Africa which I inherited from my Dad and the Taxable Capital Gain ((Proceeds - Base Cost - Annual Exclusion)*33.3%) will be r...

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Do you submit my tax return automatically once done to SARS?

Posted 13 November 2015

I have just completed my tax return with TaxTim's help and I've paid via EFT. Will my tax returns be automatically submitted to SARS? What is the process now?

Deductions for 3713 motor vehicle allowance

Posted 12 November 2015

I receive a car allowance listed under code 3713 on my IRP5 in addition to my reimbursive travel claim, listed as 3702. Can I claim any deductions against the 3713 allowance and if so, what deductions will be allowed?

Part-time home studies tax rebate for bond/rental?

Posted 12 November 2015

Which section of the Income Tax Act allows one to claim a deduction for bonds/rent if one is studying part-time from home?
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