My income paye is 70753.00 I want knw hw much will I get?

Posted 1 October 2015

I have worked for 8years... We were told to resign so that dey cud register us again.. My total income paye is 70753. 00, SO I WANTED TO KNOW HOW MUCH WILL I GET PLUS HOW LONG DOES IT TAKE?

What value to use in wear and tear calculation - vehicle

Posted 1 October 2015

What to include in the price when calculating wear and tear on a company vehicle? Service plan, window break-in protection, VAT, Finance initiation charge, interest?

Do I have to pay tax if I earn R6000 basic commission?

Posted 30 September 2015

Hi, I would like to know how do I get taxed if I get paid a basic salary and commission? My basic is R6000 and get commission of 10% on each services after I have made over R10 000. Please help!

63 old, interest income R13500/mon and will contribute R2640/m towards medical.Tax payable?

Posted 30 September 2015

Hi,
I'm 63 and retirinmg with an interest based income of R13500. 00 /month. I'm contributing R2640 towards medical aid. How much SARS tax will I be liable for. Thank you

Time frame of correction filed status

Posted 30 September 2015

I submitted my tax return and was asked for supporting docs which were uploaded and submitted the same day. This was on the 14th of Sept and now on the 30th Sept the status has still not changed from correction filed? how long is this expected to take?

Capital gains

Posted 30 September 2015

I just switched some of my unit trusts and made a capital gain of R33000. I figured there is tax applicable to this. But how does this affect my portfolio? Does the capital gain go back into the unit trust to make more money for me?

Once I did the switch to the better performing unit trust, my portfolio total reduced greatly, while I expected to see a huge growth. Thanks,

How do I submit 2007 return without documents?

Posted 30 September 2015

SARS is requesting that my husband submit a 2007 tax return. However, he was only working certain times during that tax period (as a freelance contractor) and has no IRP5. He contacted the company he worked for as well, and they have no record of a IRP5 as well. What do you advise him to do now if he has no documents for that tax period? He may be able to get a record of his retirement annuity contributions, but that is all.

Help with IRP5 doc online

Posted 30 September 2015

My employer does not want to give me my IRP5 form for me to find out how long I worked there in 2012. Is there any way I can see my IRP5 forms online just to get dates? I really need to know that info. Ive got my tax number and that is basicly all ive got. Please help

I would like you to explain what the meaning is

Posted 30 September 2015

Good morning I got this sms from sars




tax period 2014 due to you -2124. 12

tax period 2010 due to you -668. 82

tax period 2011 due to you -2183. 27

tax period 2015 due to you -2300. 06

tax period 2013 due to you 2300. 00

payment due the 1st October and 31st October

what does this mean

Tax Return for contract work?

Posted 30 September 2015

I worked for a contract of 3 months was earning R20 000 per month TAX was deducted from my salary, is that possible? I wanna know if I can go to SARS & claim my money back. Thank You!

Is professional training and development tax deductable?

Posted 30 September 2015

Can professional training costs be deducted (continued professional development) and under what section?

Capital Gains Tax - capital growth before tax was implemented?

Posted 30 September 2015

I owned a piece of land. Acquired in 1998 for R60 000. The land was sold in 2014 (this tax year) for R300 000. The agent fee for selling was 5%. I know the Capital Gains Tax was only implemented after acquisition. Please advise whether the calculation for capital gains tax is able to take into account some appreciation in value between 1998 and the year when the tax came in.

As a sub-consultant should the company I do work for deduct tax?

Posted 30 September 2015

What is the difference between a sole proprietor and sub-consultant. I am a sub-consultant and work on an hourly rate. My income is not the same every month. I use the companies' offices from time to time. I have been a sub-consultant since August 2015. The company deducts tax from my monthly income and will provide me with an IRP5. My question is should they deduct tax?

Need help with my medical aid tax cerificate

Posted 30 September 2015

I need help with getting my medical aid tax certificate which has not reached me.

Does 4001 get added to personal contribution to RA to make up 4006?

Posted 30 September 2015

If I pay my own RA in addition to my employer as reflected on IRP5, as 4001, do I add this to my own contributions under 4006?

Can I claim travel expenses without having a travel allowance?

Posted 30 September 2015

Can I submit a travel log book with my tax return if I do not have a travel allowance and if my commission is less than 50% of my monthly income?

Client expenses for food as commission earner

Posted 30 September 2015

As a commission earner, am I allowed to claim back on client expenses specifically food and coffee. I have kept all receipts where I have taken a client for coffee or lunch. How will SARS judge these?

Income tax on foreign income from UK

Posted 29 September 2015

Hi Tim. I work in South Africa but for a UK company. They don't have a company registered here, just a warehouse that I work from. My salary gets paid in US dollars from the UK company so I don't get an IRP5 or PAYE etc deducted.

How do I go about sorting taxes? Do I submit a personal income tax return each year declaring the money I receive and pay the relevant tax on that?

Is salary and overtime money taxed separately?

Posted 29 September 2015

Can income tax be charged from an income alone and not from an overtime money?

I got my IT statement and it says electronic refund. Should I expect the refund tomorrow?

Posted 29 September 2015

Hi Tim

I got my IT statement and it says electronic refund on 30/09/2015 should I expect the refund tomorrow?

Car Deductions on Commission

Posted 29 September 2015

Hi Tim, I am a Commission earner and I claim back on my vehicle usage on depreciation and logbook. When I claim back on my car usage, I keep a logbook as well. But my question is, can I claim back on a paid up vehicle? or do I have to still be paying monthly towards finance. Does the finance amount help with increase my tax return from SARS. Eg if im paying R2500 or R2000. Which will yield a higher tax return?

Depreciation for Commission Earner

Posted 29 September 2015

Hi TaxTim, I have a lot of questions lined up. I hope its ok. The first one. I am a commission earner and claim back usage of my vehicle for business use. 75%
when calculation deprection over the 5 year straight line method. When does this begin? when I took ownership of the vehicle? or when the vehicle was registered?
2. I bought a vehicle in 2011 and only starting working on commission in 2013. When does my depreciation stop on this vehicle? 2016? or 2018?

Deadline: Manual Versus Via Tax Practitioner

Posted 29 September 2015

Hi there, when is the deadline for submitting manual income tax returns?

I had submitted my income tax returns via my tax practitioner and when is this tax practitioner due to meet before the deadline reaches?

VAT on new vehicle for commission earner

Posted 29 September 2015

As a Commission earner and using my vehicle for business purposes. Can I claim the VAT back on purchasing a new vehicle?
also what can I claim on the interest portion?

Statement of Tax invoicing

Posted 28 September 2015

Hi, I submitted a tax return via SARS eFiling which tax returned an assessment that I owe SARS R2500. Puzzled by this I asked a friend and she advised that I had entered the number of dependents for Medical Aid incorrectly. I filed a correction and SARS now owes me R2700. The statement, however reflects an amount of R200 and reflects the incorrect R2500. Surely that shouldn't count or am I missing something?

I called SARS and was told they focus only on the original assessment. I am ...

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