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

  Written by Marc   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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Confused by "due by me" on SARS SMS

  Written by Marc   Posted 30 July 2013

When the tax return SMS says "ACC balance 12.000 due by me" does it mean I'm owing that amount?

My eFiling profile says my supporting documents have been converted. How long till I get my refund?

  Written by Marc   Posted 30 July 2013

Hi Tim

I submitted my tax returns via SARS efiling on the 22nd of July and they asked for supporting documents. I submitted my IRP5 and Medical Aid Tax certificate on the 23rd of July. On my profile it says my documents have been converted....does that mean they have been received? How long till I get my refund? I read on your site that SARS was doing things faster this time around.

PS Thanks for a very informative site, it made my efiling a lot easier.

After how many days does SARS pay if they owe you money?

  Written by Marc   Posted 30 July 2013

If SARS owes you money for a tax refund how long do they take to pay out?

Can I amend my ITR12 to reflect a correct deduction after its been audited?

  Written by Marc   Posted 30 July 2013

Can I amend my ITR12 to reflect a correct deduction? I put a deduction for a work laptop that I purchased (I have a laptop allowance) in the wrong section and it was disallowed, so I need to change it. My ITR12 has already been audited and I've been refunded, but the disallowed deduction means I'm owed about R1300 by SARS.

What do I do next?

Not able to resubmit further documents required by SARS once submitted

  Written by Marc   Posted 29 July 2013

How do I submit further documents to SARS once I pressed the submitted to SARS button? They require actual slips instead of a schedule which I submitted with my returns on my medical claims not paid by a medical aid, but I am unable to submit on e-filing through documents for review because it is now closed.

No supporting documentation and previous tax year audits

  Written by Marc   Posted 29 July 2013

Hi TaxTim,

Two simple questions that I can't find answers to anywhere:

1. What happens if you cannot support expenses for a specific category on a tax audit for year that has already passed and been assessed (say audited for 2010/11 in 2013)? I.e. you lost an expenses file for the full 5 year tax period, and only have partial records via bank statements?

2. How likely is this scenario - i.e. SARS randomly auditing for previous tax years. I.e. during the 2013-14 tax year are you at risk of being randomly audited for the 2011-12 tax year?...

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Depreciation on private car for work

  Written by Marc   Posted 29 July 2013

Hi, I use my car for work, and I don't receive a car allowance, I am only refunded for services and petrol, can I claim depreciation on the vehicle?

How long does it take for refund if required to attach documents?

  Written by Marc   Posted 28 July 2013

I did my efiling on the 23 July and expect a refund. I was asked to attach documents, medical aid and IRP5 and it was selected for auditing. How long does it take to be deposited the money?

Bonus, back pay and incentives under income code 3601

  Written by Marc   Posted 27 July 2013

Dear TaxTim

If you have received incentives and a prosperity bonus within the year, can you claim that back from tax? My employer has added my over pay, back pay, incentives as well as the prosperity bonus under the income code of 3601.

Should I bring my IRP5 to SARS branch?

  Written by Marc   Posted 26 July 2013

I went to a SARS office and I didn't have my IRP5 with me, but they asked me for my I.D. They checked for me on the system and they gave me my Tax number. I received 2 smses on my cellphone thanking me for filling my 2012 and 2013 tax return and they also stated the amount due to me. The lady that helped me said I should wait for a mail that will be sent to me via post by SARS and then I should come back to confirm my account details. So I just want to know if I should bring my IRP5 next time wh...

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Claiming out-of-pocket medical expenses when you don't belong to a medical aid

  Written by Marc   Posted 26 July 2013

How do I capture out of pocket medical expenditures when I do not belong to a medical aid..?
I have captured them under code 4020 but when I look at the notice of assessment, the amount to be refunded back to me is exactly the amount on my PAYE source code and it does not seem to take into consideration the out of pocket medical expenses I incurred... How does this work..?
Thank you

Can I resubmit my ITR12 after receiving a payment and IT34 from SARS?

  Written by Marc   Posted 26 July 2013

I have already submitted my ITR12 and received an ITA34 in response from SARS, but forgot to put in my medical tax certificate contributions in my tax return. I have requested a correction straight after the submission but now SARS already paid an amount into my account. Can we still resubmit the ITR12 with all the information?

Fixing errors on previous returns and resubmitting

  Written by Marc   Posted 25 July 2013

I never filled in my retirement annuity amount in previous years, only this year. Can I go back and fix this on previous years returns and how far back can I go?

Not registered with SARS, where does my tax go to?

  Written by Marc   Posted 25 July 2013

I am on contract and I never registered at SARS. I want to know where does the tax taken off my salary go?

Is there tax refund money for me?

  Written by Marc   Posted 25 July 2013

How can I find out if there are any money for me in tax refunds?

How will I know if I owe sars when I submit through e-filing?

  Written by Marc   Posted 25 July 2013

How will SARS tell me how much is due to them for tax?

How will I know amount due to you or me if I submit through SARS eFiling?

  Written by Marc   Posted 25 July 2013

How will I know if I owe SARS or SARS owes me if I submit through eFiling

How will I know if SARS owes me money?

  Written by Marc   Posted 25 July 2013

If I summit my tax return by eFiling how am I going to get my answer whether am I owing or if they owe me?

Why isn't SARS paying me my refund?

  Written by Marc   Posted 25 July 2013

The SARS Status says 'AVS Bank with AVS verification pass' & how long does sars take to pay after the status has been updated.

As a contractor should I submit both IRP6 and an IT12 or just the IRP6's?

  Written by Marc   Posted 24 July 2013

Hi Tim, thanks for a great web site!

I'm an IT contractor and for 6 months at the start of 2013 I worked for a company in South Africa and was paid a fixed amount each month. I received a payslip and tax was deducted, however my tax number wasn't included on the payslip. I was asked to become a permanent employee after the 6 months but declined and subsequently left SA to work overseas on a contract where the money I earned was transferred to my SA bank account. I submitted an IT12 to SARS showing the amounts I'd earned from both contracts...

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Less tax refund this year compared to last year

  Written by Marc   Posted 24 July 2013

Why do I get less tax refund in return this year as what I did last year?

Declaration and calculation of Trustees Fees received for income tax purposes?

  Written by Marc   Posted 24 July 2013

If you receive Trustees fees how should this be declared and taxed?

How long does SARS take to pay me my income tax refund?

  Written by Marc   Posted 24 July 2013

Hello I did get this message on the 4/7/13 SARS Status: Your [Document] has been received but has not yet been assessed. Please note that it typically takes 5 working days to process electronically submitted returns. Please enquire about the status again after this period. Today is the 24/07/13
Why does SARS take so long?

When will payment be made by SARS as a tax refund?

  Written by Marc   Posted 24 July 2013

I did my eFiling on Friday. My current eFiling status is assessment received and SARS status is avs banking with avs verification pass. What does this mean? Yesterday I received a msg saying a statement of account has been issued. Confused...... when will the money be refunded or is there something else they need?
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