Tax for working abroad
Posted 6 November 2015
Hi Tim,
Is there a change to the tax exemption for offshore personal that are out the country for more than 183 days a year and have atleast one work trip longer than 60 consecutive days? Some rumors are flying around that these people will soon be taxed at rates of up to 45%.
How much tax will I pay when receiving a provident fund upon leaving my company?
Posted 6 November 2015
How much tax will I pay when receiving a R102 000 provident fund upon leaving my company?
Do you get an IRP5 if my employer prepopulates the return on eFiling?
Posted 6 November 2015
If I don't have an IRP5 and the employer has pre-populated the tax return on SARS E filing, how can I make use of TaxTim to do the tax return?
Capital gains tax exemption
Posted 6 November 2015
I have to calculate capital gain on a rental property ( not a primary residence). It seems we can deduct a R30 000 natural person exemption. Does SARS eFiling automatically take off that R30 000 or am I supposed to put it in somewhere?
What does "auto finalised" mean?
Posted 6 November 2015
My son has been audited, then it went to anther department, that department said that it would be auto finalised 28/10/2015, but still no money...
Do I submit returns for the years in between a full-time job where I studied and worked for myself?
Posted 6 November 2015
What happens if I started my first full-time job at the beginning of 2012 and submitted my tax return correctly (getting no refund, of course)... But then I quit the job in January 2013 and went back to study for the year of 2013? I assume I didn't have to submit for that year off? (I didn't). I then started freelancing and working for myself throughout 2014. Do I need to submit a tax return for 2014, even though as a freelancer I made less than the threshold?
ITA34 form
Posted 6 November 2015
How do I obtain a ITA34 form if I am not registered for tax? Earn below required income to register. For my medical(Boncap) aid say they need it to register me for 2016 membership, although I sent them all the proof of income
Parking expenditure
Posted 6 November 2015
As a SARS commission earner, can I claim my parking expenditure charged by my office?
Can use of vehicle be classified as fringe benefit
Posted 5 November 2015
Directors purchase 2 luxury motor vehicles on company name. But the installments are being paid off the directors loan account. SARS raises an assessment on the directors personal capacity stating understated PAYE. Can SARS do this? Can an objection be raised?
Donations and Tax
Posted 5 November 2015
I would like to understand how donations / gifts work. I have read a few things but want to make sure I have it right. Lets say a friend of mine is in need and I donate / gift her R120k in a year. Do I pay tax on that? Does she? Does it form part of taxable income etc?
File for 2 years ago
Posted 5 November 2015
I have been out of the country for 2 years when I tax returned I received an SMS that I am fined for 2012-2014 tax returns not filed. Can you please assist me in this regard as I never filed before.
Rental income In Community of Property split not recorded on IT34
Posted 5 November 2015
On my IT34 - for my rental income profit - SARS did not perform the 50-50 split for being married in community of property and so the full amount was used to calculate my tax owed. Would I file a dispute claim for this? It seems strange that last year SARS did the 50-50 split and this year they haven't.
Can I claim gap cover on my tax return?
Posted 5 November 2015
I had depleted my savings last year on my medical scheme and had a self payment gap to cover and then annual threshold benefits would kick in. Can I claim the self payment gap on my tax return?
Is a UK property sale liable for SA CGT
Posted 5 November 2015
I've recently sold a property in the United Kingdom, and transferred the proceeds thereof over to South Africa. I'm a South African citizen, registered with SARS. Am I liable to pay capital gains tax here in SA?
How do you claim entertainment expenses
Posted 5 November 2015
How do you claim entertainment expenses. The expenses that are directly related to projects and to a client is reimbursed by the company. Expenses related to business development or non-client related are not reimbursed. I have receipts for these, but canā%u20AC%u2122t really tie it to a client per se. I may be able to tie it to a specific meeting in my calendar or a log of meetings that I keep.
How would I summit a tax return as a sole proprietor with no payslips?
Posted 5 November 2015
I am a sole proprietor. I need to do a tax return for this year. I have no payslips, but I do have an income and expense sheet done by me. How do I go about doing a tax return for SARS?
Do I need to pay tax and why?
Posted 5 November 2015
I am a South African university student, currently working at the university library as a library assistant. I get paid not more than R3000 a month. I received a call today from the Human Resource department saying that I must pay tax. I have never paid tax before and I was not informed in my contract that I will be asked to pay tax at the end of the year. This is my 8th month working.
Retirement Annuity Fund
Posted 5 November 2015
How do I reflect my Retirement Annuity Fund contribution on my tax return?
Can I reflect for both 2014 and 2015, if the amount for 2014 was not included in the tax return for 2013/2014?
I want the amount of UIF I must pay if I earn R65 000 Basic Salary and R15 000 car allowance?
Posted 5 November 2015
Hi Tim, I female single mother of one and earn basic salary of R65 000 and car allowance of R15 000. 00. What should my UIF contribution be? What is my tax deduction be?
CALCULATION OF TAXABLE INCOME
Posted 5 November 2015
HOW TO CALCULATE FARMING TAXABLE INCOME?
Do fully vested trusts have to submit provisional tax returns?
Posted 5 November 2015
A trust is registered as a provisional taxpayer. All the income in the trust vests fully in the beneficiaries meaning that no income is retained in the trust. Will the trust still have to submit provisional tax returns even though it will always be nil?
Pay income tax
Posted 5 November 2015
I pay tax from my salary, that's what it says on my payslip, do I further need to pay income tax this year if I only started worked under 6 months and earned R58330 as a whole (without deductions)?
Medical not included in salary
Posted 4 November 2015
For the last few years my employer didn't include their portion of my medical in my deductible salary, so there was no PAYE paid on it. I did receive my annual paybacks from SARS on the medical tax certificate I submit through our accountant. Now I owe SARS money and my employer is expecting me to pay it back. Am I liable for this even though it was not a mistake on my side?
What supporting documentation is required for source code 4027?
Posted 4 November 2015
I have been requested to submit to SARS A4 copies of the relevant material in support of the following declarations:
For source code 4027, depreciation of R6,299. 00 has been assessed against my ITR12 tax return and I have been asked for supporting documents. I purchased a laptop with my own money that I use after hours to catch up on work. What document needs to be submitted and what should it state?
How do I treat travel costs that are reimbursed to me after I have paid for them?
Posted 4 November 2015
I am a consultant who travels. My company then reimburses me for my travel costs. How do I treat this in my tax return?
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