Rental Income and bank charges

Posted 4 July 2017

Good day Tim,

Are bank costs allowed to be deducted against rental income. Also what is teh limit here - the FICA rate is R59pm fee, but some banks include it in the monthly bank facility fee say R200pm - is the 200 claimable?

Depreciation on a cellphone

Posted 4 July 2017

I have a pay as you go cellphone that I bought cash. Thus I unfortunately do not have monthly statements to determine an exact break between business and personal use. I spend about R300 pm on airtime and I receive a cellphone allowance of R750 pm from my employer. How do I calculate and show the depreciation amount and do I need a letter of consent if the allowance is shown on my salary slips?

When you pay an RA directly

Posted 4 July 2017

I personally paid money into a retirement annuity fund, and not via my employer - where do put this in my tax return please?

Medical contributions claim by dependent

Posted 4 July 2017

My husband and I are both on a medical aid where he is classified as being the main member, and myself as number 2. Whilst our monthly contributions are taken from my husband's bank account (as the main member), I pay for my portion each month by making a deposit into his bank account. How do I go about capturing this correctly via TaxTim as I want to ensure that I can claim for the medical aid contributions that I am making each month? I am also unsure how to answer your question "Do you belo...

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Bond repayment tax deductible?

Posted 4 July 2017

Does my monthly bond payment qualify as a expense against my rental property? Currently my rental income is R6500pm and my bond payment, including rates, taxes and levies about R8000pm indicating a loss for tax purposes?

Paying a medical aid where you are not the main member

Posted 4 July 2017

I pay the medical aid contributions for my mother-in-law and her mother who are financially dependent on me. They are the main members, but I pay the premium. Can I claim this?

How does medical dependents work?

Posted 4 July 2017

I have myself and my 4 children and my wife on the medical aid, do I say that my medical dependents are 5 or do I include myself and state that I have 6?

Claim travel without a logbook

Posted 4 July 2017

I have source code 3802 on my IRP5 but I did not keep a logbook, can i claim for the perks tax paid via source code 3802 if I don't have a logbook?

Package for a commission and salary earner

Posted 4 July 2017

If I earn commission and a salary as an employee, which package should I select, Ultra or Smart? I also have a travel allowance and a medical aid contribution.

Claim electricity and rates

Posted 3 July 2017

Can I claim electricity in full and the rates too? I don't live there, but there are tenants who d, but I pay the electricity, rates and water.

Leased company use and tax

Posted 3 July 2017

I don't receive a travel allowance, but I'm on a company vehicle lease scheme. It assumes I receive fuel, which I don't. I also do business mileage and I have source code 3802 on my IRP5. What should I do?

Should I file if I'm unemployed?

Posted 3 July 2017

I'm currently not working do I still need to file my tax returns?

Provisional Tax on property sold

Posted 3 July 2017

I sold property in March 2017 and it's an income earning property. Do I need to prepare a provisional tax return in August? Will I just include profits on the property?

Maintance plan of pvt car

Posted 3 July 2017

Can I claim maintenance on a plan for my car (I do make use of the car for work purposes)?

This query relates to question 4437 "Please enter the amount spent on maintaining or repairing the car. This includes vehicle services." in the Travel Allowance section.

Earning dollars as a freelancer

Posted 2 July 2017

I've been working as a freelancer (part-time) for the past year and I've been earning money in dollars. How will this affect my tax return?
I also work as a full-time employee.

UIF on maternity leave

Posted 1 July 2017

How do I declare Maternity UIF payments and the dates off work during the leave?

Source Code Changes

Posted 29 June 2017

My IRP5 only shows code 3699 and not 3697 & 3698 anymore.

Commission earner and IRP5

Posted 29 June 2017

I'm a commission earner. I joined a company in January and I didn't earn any commission from January to 28 February. My previous IRP5 shows me working at that previous company for 10 months.
Do I need an IRP5 with zero income on it for the 2 months at the new company? Would anything need to be submitted to show that I was employed for the 10 months at the first company and 2 months at the present company = the full 12 Months?
Also, does the new company have to upload anything so that...

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Tax Consultations

Posted 22 June 2017

I'd like to schedule a once off session to discuss my tax status change. I've left employment and started working as a sole proprietor. I just need to know what I need to do regarding tax and how to submit my tax return with the split between the two statuses. Please let me know how I can set up a once off session and what the cost would be?

Directors of company with no IRP5's

Posted 21 June 2017

My wife and I are directors of our company. We have not paid ourselves a salary as such, but took money against a loan account during the year. We are provisional tax payers. We don't have any IRP5's as we haven't issued any in our company. How do we rectify this or account to SARS?

Tax as a remote worker

Posted 21 June 2017

My primary source of income comes from an overseas company who I work remotely for (it's on a permanent basis but I'm not under a contract). I get paid every month, through TransferWise, in dollars. I also earn some income off royalty based products and some freelance creative jobs. I'm finding it quite complicated to set up a tax paying structure with this setup. Could you possibly give me some advice on how I could set up a tax paying structure with this way of working?

Unemployed for a short period

Posted 21 June 2017

I haven't worked for the full year, how does that affect me and my tax return?

Immigrating

Posted 21 June 2017

Will you be able to help me with our tax return once my
wife and I permanently immigrate to Australia? We'll be keeping three properties in SA and we'll receive rental income from it.

Tax Directive for a settlement agreement.

Posted 7 June 2017

I'm receiving a settlement from my company as part of an exit agreement. Can I apply for a directive, and how?

eFiling registration on my laptop

Posted 5 June 2017

I'm struggling to register an individual profile on my laptop, when I do it I get an error message. However, when a colleague registers it on her computer it goes through. What could the problem be?
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