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Latest Posts in Tax Q&A

It's been over 2 months, but I haven't received my refund yet.

  Written by Marc  

Hi! I submitted my tax return on 2015/08/06. I received my ITA34 Notice of Assessment shortly thereafter, but it's been over 2 months and I haven't received my refund yet, or any further communication from SARS. On my ITA34, there is an "N" next to "Selected for audit or verification," so I'm confused as to why this process is taking so long? Please assist.

How can I get a new SARS number because I was insolvent?

  Written by Marc  

On SARS status I am insolvent, I took my court letter with necessary documents to SARS and they could not assist me with a new tax number as my old one still shows active on their system. What must I do now to get a new tax number?

Do I need to declare investments outside SA?

  Written by Marc  

I have been living outside of South Africa for longer than 2 years. I have been investing money outside of SA. The currency is USD. Do I need to declare this investment in my tax return. The money was earned outside the country, and I have not yet tax returned to SA.

When will I obtain my tax refund?

  Written by Marc  

I have worked in South Africa from 1-Sep-2014 till 31-Aug-2015. In the income tax year 2014-2015, I have only worked for 6 months, and I qualify for a refund. I have e-filed my tax return in June, but yet to get my refund in my bank account. I have also verified banking details, proof of residence and proof of identification at the Centurion Tax office. I am an Indian National

Home office expenses

  Written by Marc  

I work from home - I have an office and photographic studio, so am trying to work out what I can claim as household expenses. We no longer owe money on our bond, so it seems like I can't claim anything there. I understand I can claim a portion of rates, water and electricity. Can I also claim a portion of the homeowners insurance and the security (armed response) costs?

Changing retirement funds and tax implications

  Written by Marc  

During this tax year, I was retrenched and had to move my retirement fund money from the fund where it was to a new preservation fund. The amount of money transferred shows up on my tax return, but I just want to find out if I will be taxed on this? Will SARS know that the money has been moved to a preservation fund and not paid out cash to me?
Thanks!

How long should it take when an assessment is escalated?

  Written by Marc  

I have submitted my tax return via SARS eFiling on the 2nd July 2015 but I am yet to receive my tax refund. Its been 3 months and additional documents submitted. My assessment was selected for the audit and they requested documents which I gave them. It was later escalated but nothing happened. It is currently escalated again and no feedback. What can a man do?

Need letterhead with taxnumber?

  Written by Marc  

Where can I find a letterhead with my tax number on?

After audit is done and not calculations were changed by SARS how long before refund is done?

  Written by Marc  

Good morning, my dad is 81 and his docs were requested for an audit which we uploaded via eFiling. We received notification that his tax has been finalized and no adjustments to the calculations were made. This was already in the middle of September. We have not had any further correspondence and the R824. 00 rand have not yet been refunded to him. Is there something I must do? Does these refunds take a long time to be paid over?

Tax implication on PAYE & UIF for 13th cheque staff payouts

  Written by Marc  

What is the tax implication on 13th cheque pay outs to staff? (PAYE & UIF)

Are there issues with turnaround times and risk of SARS breaching them?

  Written by Marc  

My tax return was singled out for verification. I submitted all supporting documentation on the 14th September 2015. I am now sitting on 23 working days and have heard nothing from SARS. Are there issues with their turnaround times this year and also, does the 30 days imply that my refund will also be issued within this timeframe?

What must turnover be before you have to submit tax return for a spaza shop

  Written by Marc  

What must your turnover be before submitting tax return

How do I apportion the depreciation?

  Written by Marc  

Good day. I have a cell phone worth 5400. I use it 80% for business and 20% personal use. Will my deduction be the full 5400 because its under 7000 or 5400*80%?

thank you in advance

After registering a company, when does the owner become in liable for provisional tax?

  Written by Marc  

If an individual registered a small company with the CIPC at the end of May 2015 (for example) when does the individual become liable for provisional tax? The company is the only source of income for the individual.

Donations Tax and submission to SARS?

  Written by Marc  

Hi TaxTim, if I complete an IT177 Declaration of Donations Tax Form and submit it to SARS (I am the Donor). When doing my personal tax return, do I have to declare it in my IT12 and if so, where do I put it in my tax return?

My ITSA shows minus and not selected for audit but they requested supporting docs Return-Assessed

  Written by Marc  

Hi filed my tax reurn on 13/10/2015 got my ITA34 says SARS owes me and not selected for audit. Than on 14th I requested a statement of account showed electronic refund will be paid 15/10/2014 but later in evening of 14th got request to submit supporting docs. And ITSA still shows a minus and not selected for audit but shows that they reversed the electronic transfer for 15th and balance is still minus. And my tax return status shows Return- Asssed. I submited supporting docs 15/10/2015. Will I still get my refund? or am I in the Audit process. Thanks...



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IT34 balance is R0.00

  Written by Marc  

My IT34 reflects an amount of R0. 00, what does this mean?

Want to know hom tax will be deducted if I resign

  Written by Marc  

My pension is the amount of 90983045

Can a director of a company claim home office expenses?

  Written by Marc  

Can a director of a company claim home office expenses?
My hubby often works after hours, does skype meetings and host meetings at our house
Study is a dedicated room

What is your fee?

  Written by Marc  

Your fee for completing a tax return?

Agent fees and tax declaration

  Written by Marc  

If you receive income via an agent which has not been taxed, what is the income declared? Eg: I get paid R10 000 for a job. The agent takes R2000. Do I declare R10 000 or R8000 as income earned?
Also, what proof do I have to show this if audited?

Office costs as free-lance journalist working from home

  Written by Evan  

If I am working from home as a free-lance journalist, can I claim office expenses like paper, ink, internet and cell phone costs and if so, where do I claim these under?

Tax calculation with salary increase

  Written by Marc  

Is tax calculated on a monthly or yearly salary? If your salary increases within the financial year, will the tax owing be increased only for the remaining months or will the entire years premiums be adjusted?

Question is am I applicable for a tax number when doing forex trading

  Written by Marc  

I am 18 years and I have decided to start doing forex trading and I found out that I need a tax number. Question is am I applicable for one?

Tax-deductable items

  Written by Evan  

I have recently starting working from home as a free-lance food journalist. I had to purchase office and kitchen equipment to use to do my job. How do I claim these as expenses? Do I claim the full amounts (If the items cost less than R7000 each) under deductions/depreciation? Or must I use the calculator to work out the percentage and then deduct that amount each year?
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