Travel allowance - deemed vs actual cost for commission earner

  Written by Evan   Posted 3 November 2015

I am a SARS commission earner. I would like to claim back the use of my vehicle to earn commission. I have a detailed logbook. Where and how do I claim these expenses? According to the TaxTim wear and tear calculator, I should use deemed cost, however I never received a travel allowance on my IRP5.

How much do I pay tax if my business has made less than R10000 profit

  Written by Marc   Posted 3 November 2015

I have cash loan business,and I only made R2000 of profit due to bad payers. So how much should I pay to SARS?

Vehicle logbook trips to and from work / home

  Written by Evan   Posted 3 November 2015

My biggest problem is with a vehicle log book. Does the Vehicle App explain to you what mileage you are allowed to calculate: e.g. if you work from home and not an office, do you calculate your business trips from home to client?

Tax implications on dread disease payout

  Written by Evan   Posted 3 November 2015

With a Dread disease policy payout, will I have to pay tax on the amount paid out to me?

Retirement annuity contribution from previous year

  Written by Marc   Posted 3 November 2015

I paid a lump sum into a retirement annuity investment in Feb 2014. I forgot to include any of it on my Feb 2014 tax return. There are no further contributions at this point. Q1: must I include the value of the annuity in my statement of assets and liabilities (I have rental income so I am completing that section); if so, under which heading does it fall? investments?
Q2: I saw something about carrying over R1800 in RA contributions to the next year. Is this correct? Do you put this under ...

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Which TAX RETURN must I fill out, when doing contract work.

  Written by Marc   Posted 3 November 2015

When a taxpayer is doing contract work for a company, what tax return must one fill out?

Havent submitted tax returns

  Written by Marc   Posted 3 November 2015

I havent submitted a tax return for last 3 years. I have my IRP5's. Help what must I do and are there penalties. I also have just opened a sole prop and need to apply for a tax clearance.

SARS wants me to submut income tax documents from 1991 to 2003. I dont have these. What can I do?

  Written by Marc   Posted 2 November 2015

I filed my tax return on Friday 30 October 2015 and SARS said they are now using a new system and said the they need me to file tax returns from 1991-2003. I can not get these IRP's or medical certificates. What must I do? When I went to file my tax return in 2013 they asked me to get the documents from 2006-2013 and file for each year. I got that documents and filed and paid a R500. 00 penalty. They did not ask for anything else and said I was up to date. This year they ask for 1991-2003. Pleas...

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Will SARS allow personal vehicle expenses as deductible if the vehicle is partly used for business?

  Written by Marc   Posted 2 November 2015

I own 18 rental apartments which I am renting out. I will be retiring next year from my employment and concentrating on managing these properties and also doing related maintenance myself. I currently own a SUV vehicle which I intend keeping and using it for both property maintenance and also private purposes. Will the tax authorities allow a portion of the vehicle expenses as tax deductible against the rental income to the extent they relate to property maintenance, or do I necessarily need to ...

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Audited, how long does it take to be paid out?

  Written by Marc   Posted 2 November 2015

I have been audited and as this is the first time that it has happened to me, I have send through all documents that they requested. I was travelling away for work and could only electronically updated my papers for them on the 06/10/2015 after they send me a letter that I am being audited on 09/109/2015. According to my knowledge you have 21 Working days to send all paper work threw as from day of notice. Till now I have not received any information on when the money will be paid out. No other ...

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Does it take long for SARS to tell if im getting my return or not as they went for auditing

  Written by Marc   Posted 2 November 2015

I have sent my tax return to SARS on the 5th of October and was send for auditing for 3 weeks and still I hvent get a respond from them

How to obtain additional information regarding the the reassessment of your ITA34

  Written by Marc   Posted 2 November 2015

After I have submitted my tax return, I received a letter to submit all my documentation. I've done this and now have received a revised ITA34, where the Interest income is double than what I have received and recorded on my tax return. How do I contact SARS to provide me with further information regarding the assessment, and what steps do I take now if their assessment regarding interest income is incorrect?

Medical scheme contributions paid by my deceased husband's employer

  Written by Evan   Posted 1 November 2015

My deceased husband's employer still pays my full medical fund contribution. They do not issue an IRP5. My Medical Fund declares my contribution as R34460. My income (as pensioner from a different company) does not declare this medical contributions. How or where do I declare this contribution (income?) from my late husband's company?

Severance package directive request

  Written by Evan   Posted 1 November 2015

When apply for a directive for severance package do we need to submit it with the leave pay and bonus or do we only do the directive for the severance only?

Medical claim - proof of bills required?

  Written by Evan   Posted 1 November 2015

Do I have to send medical expense bills to SARS?

Medical aid - paid by employer and self

  Written by Evan   Posted 1 November 2015

My employer paid my medical aid until August 2014 and I paid thereafter. How do I declare this on my tax return?

Foreign shares tax liability

  Written by Evan   Posted 31 October 2015

I have shares in a foreign stock exchange. I've had the shares for more than 5 years. If I sell these shares what is my tax liability? The shares are worth R400000.

Gift from someone in the UK, do I declare?

  Written by Evan   Posted 31 October 2015

If I receive one hundred and twenty thousand as a gift from someone in the UK split up during the year do I need to declare this to SARS? I was only employed for two months during the financial year so would not have to submit a tax return?

Tax on Foreign income - away for 30 months?

  Written by Evan   Posted 31 October 2015

Im going to work in UAE, Abu Dhabi for 30 months. Do I need to pay tax on or even declare my foreign income with SARS?

Must wife's bank account interest be added to husband's interest?

  Written by Evan   Posted 31 October 2015

I am not employed. I have a savings account in which we save. Do we add the interest earned from this account to my husband's interest from his bank accounts? We are married in community of property.

Unfiled taxes

  Written by Marc   Posted 30 October 2015

I have not filed a tax return for three years even thou I have been employed and did previous tax returns however I do earn below the 350 000 threshold. What do I do to be compliant and what kind of penalties would I expect?

Is it possible to re-submit my 2013 tax return?

  Written by Marc   Posted 30 October 2015

Is it possible for me to re-submit my 2013 tax return cause I have been overcharged due to the following documents not submitted, medical certificate and retirement contribution certificate presently those documents are available.

Tax calculation on a lumpsum?

  Written by Marc   Posted 30 October 2015

GEPF LUMP SUM TAX ON R 2396808 52 YEARS Retire on 31/03/2016

How much should tax professionals charge individual taxpayers for filling and VDP services

  Written by Evan   Posted 30 October 2015

How much should a tax practitioner charge for an hour consultation?

I wish to do a Voluntary Disclosure Programme application for 4 preceeding tax years, and was charged R3000 for 2 hour review of my documents before even the process of VDP was initiated. It was called preliminary assessment by this service provider. I just want to know it this figure/fee is regulated and whether in your opinion is a fair and/or ethical charge.

I need help updating my proof of residence.

  Written by Marc   Posted 30 October 2015

I need help updating my proof of residence. I have been paying tax for two years but not been able to organise my tax returns. I need to discuss my options. I am also very busy and am finding it difficult to find time to go to SARS.
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