Micro Business

Posted 5 October 2015

The First R200 000 dividends paid during the year of assessment by the micro business is exempt from dividends tax. The Micro Business cannot deduct any business expenditure. What does this mean, can I then not deduct vehicle expenses, donations, etc..

Tax clearance question

Posted 5 October 2015

I've fallen behind with my business' PAYE retuns. Does this mean after submitting and paying them in full I will need to re-apply for a new tax clearance certificate even though my current one will still be within the 12 month validity period?

Can I go any SARS to submit IRP5 in south Africa no matter Province I live in?

Posted 5 October 2015

I'm workin at gauteng provence and now I'm here at limpopo provence and want to submit IRP5 SARS it is not problem if I can go at SARS in limpopo

Tax on Casual Labour.

Posted 5 October 2015

I have a Micro Business registered for turnover tax. Must I deduct tax or pay tax if I hire persons from the street to help me load and setup equipment?

I normally hire people of the streets to help me load and setup equipment for events at the place of the event. The amounts always varies between R2000-R3000 for 2 days, 3-4 Persons.

No IRP515 = no tax refund

Posted 5 October 2015

I was overseas studying for tax years 2010 and 2011 and therefore didn't have IRP5s for those tax years. However, I did have income in the form of rental income but for both years I made massive losses due to expenses, high interest rates, bad debts etc. Does the lack of IRP5 automatically disqualify me from any refund due to me by SARS?

Retirement Benefit of R500,000 Tax free

Posted 5 October 2015

How do I take advantage of the R500,000 tax free portion AT RETIREMENT? I was retrenched at age 54 and paid full tax on my retrenchment lump sum. Now that I am 56 and would like to retire on the funds in my pension preservation fund, I do not understand why the tax directive on the first R500,000 from my preservation fund was taxed. I have NEVER retired before so I should have the full R500,000 tax free ON RETIREMENT?? Numerous calls to the SARS call centre have me confused between benefits at ...

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SARS issuing re assessment notice more than 5 years after the actual year of submission

Posted 5 October 2015

Received notification from SARS to supply proof of expenses claimed on personal tax return for the 2009 years, which was already assessed, re assessed by SARS in Nov 09 and April 2010. Outstanding fees were duly paid in Nov 09. All proof of expenses were duly supplied. IS SARS allowed to re assess again in Sept 2015?

SARS has also request the same for the 2010 year, 2010 was assessed and no proof of expenses were requested. A refund of -R6k was paid over by SARS to me. IS SARS allowe...

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Pension fund reflects payout but it was moved to a preservation fund.

Posted 5 October 2015

When I left my previous job I moved my pension fund to a preservation fund. I did not do my 2014 taxes and now when I go on SARS eFiling my IRP5 seems to reflect that I was paid out the money from my pension fund. I'm not sure what I'm supposed to do now. Would signing up for your service show me the steps I need to deal with this on my 2014 tax return?

Deduct home office expenses with split income streams and no IRP5

Posted 5 October 2015

I work from home - part time as a contractor for a US-based company, and part time for a South African private company of which I'm one of the shareholders / directors. I earn a regular monthly salary from the foreign corporation, but they don't issue an IRP5. I also bill my local company for my time, but irregularly, and often this income is put into a director's loan account rather than paid out in cash. The local company did not issue me an IRP5 for 2014. How do I declare my income in such a ...

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Should my IT77 Income Details section exclude business expenses as a I'm self employed?

Posted 5 October 2015

I am only just registering for a tax number and completing the IT77, but under the section Income Details, it states to declare taxable income. I'm self employed, so I'll be making manual contributions, which to my knowledge is minus expenses. So, my question is, in this section of the form, should I declare my gross income, or only my income after business expenses?

What is a tax ref number

Posted 5 October 2015

I need to send my tax return, what is a tax ref number as it says invalid number

Awaiting returns

Posted 5 October 2015

I submitted 3 weeks ago and still got no returns any idea why this is

Its been more than 21 days since I've been on audit, how long does it take?

Posted 5 October 2015

I submitted my 2013 IRP5 this year. It was sent for audit and I was told it will take 21 days. I haven't heard from SARS again. No updates none whatsoever. How long does it take for audit and how does it work?

E-filing

Posted 5 October 2015

How can I download E. Filing

Tax on Scholarships

Posted 5 October 2015

I'm a writer in receipt of a scholarship from an overseas foundation. Will I have to pay tax on it, come year end? What documentation would I have to provide for it to be tax exempt, if that's on option?

Difference between an exempt supply and an exempt non supply?

Posted 5 October 2015

What is the difference between an exempt supply and an exempt non supply?

Non-resident tax implication on rental income?

Posted 5 October 2015

Myself and the wife ( non-residents / Irish citizens and tax payers) bought a property in South Africa in both our names. Does the R 65 000 tax exemption apply to each of us individually? The combined rental income is R 120 000 after expenses/deductions. We plan to invest the rental income in a flexible money market account at 5,75%. If the exemption applies to both i. O. W R 130 000 combined, do we have to register for tax?
Can flight tickets once in two years to oversee maintenance and i...

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Income Tax

Posted 5 October 2015

Hi - I have a question regarding my personal income tax. My gross monthly is R25531 - tax on that is normally R4096. 85. I received a bonus of R26000 this month and my tax went up to R8200 - is that right? Do I get super taxed? I was not aware of something like that in SA?

Concerned about source codes that appear on IRP5 but not prompted by TaxTim

Posted 2 October 2015

Hi there

I had 3 IRP5s for the 2009 tax year. I have just completed your questionnaire but am concerned as I was not prompted to punch in some source codes that appear on two of these IRP5s. The outstanding codes are the following:

- 3695
- 3699
- 4103
- 4473
- 4474
- 4486
- 3808
- 3810
- 4001
- 4005
- 4472
- 4474
- 4486
- 4103

Many thanks in advance.

My late husband worked for SAPS. do I qualify for the UIF death benefit?

Posted 2 October 2015

My late husband worked for SAPS. Do I qualify for the UIF death benefit?

BONUS TAX

Posted 2 October 2015

What tax will I pay on an annual bonus of R15088. 75

How does tax work for self employed person?

Posted 1 October 2015

I am self employed and wish to know what tax contributions I need to put aside of my salary every month and also when does a self employed person start paying tax? after what amount of earnings?

Battling to get 2008 IRP5 certificate from ex-employer.

Posted 1 October 2015

I am battling to get my IRP5 certificate for 2008 from an ex-employer and SARS is asking for it. At the time I did not submit the tax return because I recall that in that particular year if you earned under a certain annual income, you did not have to submit and therefore I did not. How can I remedy the situation? I have called SARS SARS eFiling help desk and we tried to see if the information would populate on SARS eFiling but it did not.

How to account for water and electricity received by tenants in NPO return?

Posted 1 October 2015

I am completing a tax return for a church (NPO). The church rents out a building and receives rent income. When the church gets the water and electricty account they pay it on behalf of the tenants and the tenants deposit the water and electricity amount into the churches bank account. How should I classify this deposit received for water and electricity?

What % tax u pay if your provident payout is R750000

Posted 1 October 2015

I will be retrenched next year my age 52
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