Updated IRP5 to SARS from Employer turnaround time

Posted 14 October 2015

My Employer have re-consile my updated IRP5 to SARS, how long it takes to reach SARS (updated IRP5)

Actually my employer updated my IRP5 to SARS on Friday 9th Oct, but SARS call center agents telling me that SARS did not received it until yesterday 13th Oct. Thanks

Calculation of travelling & depreciation

Posted 14 October 2015

Commission earner - Please inform me how to calculate the following:
# travel expenses with a log book
# without a log book - expenses incurred are as follows: fuel, toll, maintenance, license
# depreciation of a motor vehicle

Email address to submit IRP5 corrections to SARS

Posted 14 October 2015

I have submitted my tax form incorrectly, please can you send me an SARS email address to forward and attach the correct documentation along with a letter.

Taxable Rental Income

Posted 14 October 2015

I'm currently renting a property in Johannessburg, but I'm also letting out a property. Can I use my rental expense to offset my rental income from my other property?

Tax-deductable items like laptop or car

Posted 13 October 2015

If you use items like a laptop or car for work purposes and want to claim depreciation value back from SARS, does the item need to be new or for how many years can you claim the value back?

Where do I obtain my own IT3 a form?

Posted 13 October 2015

I am the only member of a CC. I am self- employed. I need to issue myself with an IT3a form. How do I do this? I have been drawing a small amount from the profit when there is one. I do not draw a salary. SARS is requiring this document for each year I have submitted.. Since 2010. I am confused about this requirement.

Going in to SARS or not?

Posted 13 October 2015

SARS has asked me to provide documentation to verify my baking details, and there is a paragraph at the bottom of the letter saying "Should you be required to provide relevant material to verify your banking particulars you are requested to submit it at your nearest branch within 21 business days, for all other verifications your relevant material may electronically be uploaded via e Filing. "

Is there no way to do this through SARS eFiling or do I need to brace the long branch queues...

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Are overseas gifts from children classified as an income?

Posted 13 October 2015

One of our children, who is working overseas, has recently being sending my wife and I (we are 63 years old) money each month to help with our expenses. Once this overseas money clears the Bank, this financial assistance works out approx. To R25,000 to R40,000 per month (in one instance, an amount was ALSO included for our grandson's annual school fee: R64,000 ) and this works out to approx. R364,000 per annum). We have indicated to the Bank that each of these amounts is being received as a gift...

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How do the selling of my home impact my personal income tax obligation?

Posted 13 October 2015

Hi Tim. I asked you previously what my tax obligation was on selling my house for R80,000.00. You replied that I do not need to pay tax for selling the house. How does that affect my personal tax obligations? Do I need to pay personal income tax on the R80,000.00 income I made for the year? Your help is dearly appreciated. Thanks.

Non medical aid claims

Posted 13 October 2015

How are medical claims to be handled for a taxpayer who does not contribute to a medical fund?

Medical costs that medical aid didn't pay for?

Posted 13 October 2015

I have R5200 worth of medical expenses to claim for. Will I get any of it back?

Change banking details

Posted 13 October 2015

Can I change my banking details while SARS is reviewing my assessment?

Married taxation on investment interest

Posted 13 October 2015

My girlfriend and I are planning on getting married and as part of this we would like to know if being married In Community of Property will affect the tax applied to any investment income I currently earn. Ideally once we are married I would like to transfer half of my current investment into her name so that we both earn interest separately (in order to pay less than half of the current tax I'm having to pay on the interest as the amount would then push us into lower earning bands?) however I'm wondering if this would then have the tax benefits that I think it would?...

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Why did I get tax deducted when I employed for 1 month

Posted 13 October 2015

I want to understand how do I get my tax deducted if I was on a 1 month contract that they did not renew

Claims for home office expenses

Posted 13 October 2015

I am a salaried employee of a large corporate company, but I also earn commission from a part-time business, for which I have a dedicated office at home. This commission is paid into my bank account and I receive an IRP5 for it. Am I allowed to claim expenses like telephone, stationary, renovations in the home office, catering expenses, etc?

Capital gains and recoupments

Posted 12 October 2015

If my selling price for an asset is R 2,258,548, Cost is R 2,800,000 and the Tax Value is R 1,120,000. What will my recoupment and capital gain be?

How long for money into my account from SARS as my refund?

Posted 12 October 2015

Hi my accountant rang me fri to let me know he's asked for money to be paid into my account as everything is finalised how long does it take please?

Full-time student, earn below tax bracket can I be taxed 25% per promotion job?

Posted 12 October 2015

Hi TaxTim,
I am a full-time student and work for a company during my free time where I do odd promotions in a month. I am earning below the tax bracket and I am being taxed 25%. I get taxed on jobs where I earn R350, R500, and R800. My question is should I be taxed even though I am way below the tax bracket? And how does it work with the tax if I do not have a tax number and the company have deducted tax but have not given pay slips yet? Can I be exempt from paying tax on a R350? What happ...

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Do I get anything for contributing on tax?

Posted 12 October 2015

I Have been working for the company on contract and my monthly salary was 10. 000 and I have been paying 700 tax every month and now the company is terminating my contract will I be getting anything from SARS? or I will only get UIF?

My medical aid is only deducted after PAYE. (i.e. Income - PAYE) = x less medical aid

Posted 12 October 2015

My company insist that their calculations are correct. They only deduct my medical aid contribution after PAYE. As a result instead of my deduction being R10 000 to R11 000 odd I end up with at least R15000 plus deductions. Then they are adamant that when I do my tax returns I should get all that is due to me which is not true.

Earn commission apart from full time job, what are the tax implications?

Posted 12 October 2015

I am earning commission on sales from selling an appliance. This income I earn on a part time basis apart from my full time job. What will the tax implications be on such an income, the commission varies from month to month? How do I go about paying this?

RAF conversion - might flag risk and SARS might want tax on it as they might think it is paid out

Posted 12 October 2015

I claimed RAF deductions of about R9000 last year but this year it is only R850 because I took an authorised premium payment holiday allowed by Sanlam. I also converted my RAF's to a new generation RAF platform, so they are were never paid out but I am very worried that SARS will think that the RAF's were paid out and want to tax them - what should I do?

What will I be paid or have to pay pleas

Posted 11 October 2015

Are you able to retrieve my tax certificate if I give you my Id number

Delay in SARS response

Posted 11 October 2015

I have used my accountant to claim my SARS tax return two weeks ago. But there's no response, what is the delay?

Maximum salary amount in order to legally not have to submit tax return.

Posted 11 October 2015

How much money must I earn (ie. Gross monthly salary) before I need to fill in/submit a tax return with SARS (irt12?) Also, can my employer force me to submit a tax return? I'd prefer not to if possible.
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