Recieve SMS due by you

Posted 8 August 2013

I received an SMS saying "due by you".

Funeral policies and back loans

Posted 7 August 2013

Hello Tim

I work on a commission basis as a hairstylist and I am currently paying various funeral policies. I also have a loan at the bank and a credit card. Am I allowed to claim for tax on those payments?

Home Office Claims (Total Cost Calculation) Code 4028

Posted 7 August 2013

If I qualify to claim Home Office (Code 4028) expenses and I want to claim this, what is applicable? Note that I own the house and I have the square meters of both my office and my house. My office adheres to the criteria. My question is related to the claim amount.

Tax specifies: A- the area in m2 of the area specifically equipped and used regularly and exclusively for trade divided by B- the total area in m2 of the residence (including any outbuildings and the area used for trade in the residence) multiply by Total Costs the costs incurred in the acquisition and upkeep of the property (excluding expenses of a capital nature)....

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More or less how long will it take before I get my refund

Posted 7 August 2013

Hi

I have submitted my supporting documents to SARS on Friday and my current SARS status says "AVS verification with AVS bank verification pass". It is now Wednesday, I have not changed my banking details so all is well, how long will it take before I get my refund paid back?

Do I still pay in when I received SMS from SARS saying they owe me after last return?

Posted 7 August 2013

Hi! Your website is very informative. I was requested to submit outstanding returns for last 5 yrs via telephone.
I however updated the returns and then was asked to pay a penalty of R12500. A few weeks later I received an ITSA- statement of account stating I owe R50 404-00. I however settled the amount as my wife received disability from her insurance. The collection department stated that I still owe them the penalty of R12500. The ITSA only reflects interest on late payment and no pen...

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Referral for audit taking ages - can I speed it up?

Posted 7 August 2013

I submitted my return and supporting documentation and I received notice on e filing that my return is referred for audit. I called SARS and they advised that the turnaround time can be anywhere from 3 to 12 months for an audit to occur. They advised that all refunds over R10 000 go for audit. Because I work on commission and claim expenses my refunds are always greater that R10 000, but never takes more than about 2 - 3 weeks.

Is there any way I can speed the audit process up for th...

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How long to resolve a SARS case for a delayed refund?

Posted 7 August 2013

In April this year we found out that our tax returns for 2010 and 2011 were never submitted by my company, so I did it ASAP. With the new tax return for 2012 we owed SARS money and they told us to pay it and we did. In May we found out that there was a penalty of R1250 so we paid that as well. So now we have made two payments to SARS and still no refund. When I call them they said I need to bring the deposit slips and I did and they said it will be any time in may that the return will be paid out. We are now in August and still no refund has been paid out. ...

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Account balance due by you, what does this mean?

Posted 6 August 2013

I submitted my IRP5 on Friday and received an SMS saying "thank you for filing your 2013 tax return, account balance: R2120 due by you, please refer to your mail". What does this mean? I haven't received my money yet, what can I do?

What is AVS?

Posted 5 August 2013

Hi Tim,

I submitted some outstanding documents on the 01-08-2013 for audit and verification. Today 05-08-2013 when I check there is a msg that says AVS Bank with AVS verification pass 05082013.

What does this mean?

Medical aid expenses on behalf of husband

Posted 5 August 2013

Can I claim for medical aid contributions that I make on behalf of my husband? The money comes from my account as a debit order every month.

What is the period of getting your money back ?

Posted 5 August 2013

I submitted my tax return on Wednesday 2013/07/31 and it was confirmed that I would get R1536 back and still today am still waiting for that money. When do you think I will get it exactly ?

Dispute with a calculated result of negative R15000.00

Posted 5 August 2013

Afternoon Tim

It is my first time completing a tax return. SARS has come back to me with an assessed amount of -15000. Must I dispute this? I have paid enough tax already!

Dispute approved, but payment amount incorrect

Posted 5 August 2013

Hi, I changed jobs and my pension fund was paid to me in a lump sum with tax deducted, but the liberty loaded irp5 incorrectly on e filing so it looked like I didn't pay tax on the amount. I only realised after I filed my tax return so phoned them, they cancelled the wrong certificate and loaded the correct IRP5 onto SARS. I then had to go dispute the matter with SARS. According to them I owed R9700. The dispute was allowed, and they said they owe me R13000, but they only paid me R3500 because t...

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Does an additional assessment affect the first assessment of my tax return?

Posted 4 August 2013

I have submitted my tax return and was then selected for audit/verification. I submitted the supporting documents and SARS indicates that they have received the documents, but does not indicate if the assessment has been finalised. They have issued me with an additional assessment (a second one), but this didn't affect my initial assessment. Does it mean that I will be refunded with the amount due to me as per the initial assessment?

25% tax but under threshold

Posted 4 August 2013

Hi Tim. I'm a freelance drama actor. I get paid around R3000 and am taxed at 25% each month. Do I get a percentage of my tax paid back, or all of it???

Meaning of source code 3805

Posted 3 August 2013

What does the source code 3805 mean?

SARS says -R1000. What does that mean?

Posted 3 August 2013

If there is an -R1000 in red on my assessment, what does that mean?

I got a Verification of Assessment letter - when do I get my refund?

Posted 2 August 2013

I filed my return on the 19th July 2013 and got a letter indicating that I should submit supporting documents. On the 30th I submitted the supporting documents and on 31st I received a verification of assessment indicating that there has been no adjustment. However, the original adjustment show that I have a refund. On checking my e-file profile the status reads: correction filed.
Does this mean that I should be getting my refund soon or what?

How long to wait after changing banking details at SARS

Posted 1 August 2013

Hi Tim, it's my first time I did my ITR12.

I got a notice letter asking for supporting docs for source code 4201, I then submitted my unique letter and IRP5, also I corrected my bank details.

My SARS Status shows "AVS Bank Verification Pass". Any idea how long this might take before refund is made to me? Thanks for all the great advice, regards.

Is there any other payment option available?

Posted 1 August 2013

Is there any other payment option available?

My tax position at the end of February 2014 after I received income from two different employers

Posted 1 August 2013

Hi Tim

From my permanent employer I received R5000.00 per month which was increased to R5500.00 per month from July 2013. My contract for this job comes to an end half way through January 2014, therefore being 10.5 months of the 2014 tax year. My employer does deduct any amount for PAYE.

From February 2013 to August 2013 (being a 6 month contract) I had a part time job (being a different employer), where I received R3000.00 per month. My employer here deducted R750.00 per month for PAYE....

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Appealing the result of an objection

Posted 31 July 2013

I lodged a NOO on my assessment and this has been partially approved however when checking the assessment issued as a result of the NOO, I noticed that there are still errors. Can I lodge a second NOO or do I have to lodge a NOA? And if so how does this work?

Two tax certificates (2) for 2013 - Two different medical aid no's and 2 diff. options

Posted 31 July 2013

I am trying to get my (2) tax certificates for 2013 from my medical aid - but they keep sending only the one.

Let me give you more detail: From 01/03/2012 - I was on a different option - up to 31/10/2012
I then retired but carried on with the medical aid - BUT with a different option and a diff. medical aid number.

I have tried everything and they keep giving me only the latest one which is from 01/11/2012
I went into the website (on the old number) but they keep giving me tax certificate for up to 28/2/2012....

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How to calculate tax on annual leave payment when dismissal occurs

Posted 31 July 2013

How do we calculate tax on accrued annual leave pay when one is dismissed? Is there a percentage or tax table that needs to be used? It is about 8 days leave accrued and is less than R 2 500. 00.

Freelancer - local and international - Needs to start keeping records for tax purposes

Posted 31 July 2013

I have been freelancing for local and international companies for a few months. I need to get my tax admin sorted out. I work from home and am on my husbands medical aid.

Where do I start and how do I maintain all my information that I need to? I'm happy to set up Excel docs to keep records. I'd like to know what I should be keeping records of,  where I can benefit from tax refunds, and what expenses I can set against the business. Do you have any templates I could use?

Als...

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