Freelance Income from International Clients on ITR12?

Posted 4 February 2015

I have a international client that pays me monthly but they cannot supply me with an IRP5 since they not based in SA. How do I go about paying my tax?

If I don't pay back sars their money that I owe what will be the quencequences?

Posted 4 February 2015

Sars say I must pay back their money that I got fraudulently,how do I pay it back? And what are quencequences of not paying them back?

Tax on Personal Liability Companies

Posted 3 February 2015

How does tax work for a Personal Liability Company (Incorporated)? Is it the same as a Private Company (Pty) Ltd or do special rules apply? Are there any tax benefits of a Personal Liability Company above a normal Private Company?

Thanks!

Tax if I am paying my medical aid fully on my own?

Posted 3 February 2015

I've recently started a new job where I now contribute fully to my medical aid and retirement annuity. How will this affect my monthly tax contributions?

What is a personal income tax assurance audit?

Posted 2 February 2015

What is a personal income tax assurance audit? Does this mean they are auditing more than one year?

WHEN MUST MEDICAL AID CREDITS BE DEDUCTED

Posted 2 February 2015

Must the Medical Aid Credits (R257x12) be deducted from Taxable Income before calculating tax payable from the tables or from Tax Payable after the calculation has been done ?

Do I get tax relief when buying a medical aid?

Posted 2 February 2015

If I buy a medical aid and the installment is deducted from my bank account what tax benefit do I have?

Addional income from Mauritius - where do I include this on my return?

Posted 2 February 2015

I am employed in South Africa, and I am a South African tax resident. I have the opportunity to do work for a Mauritius company. Essentially I will be on a South African company's payroll as well as a Mauritius company's payroll. I will be spending less than 60 consecutive days in Mauritius so I will remain a South African tax resident. How will my additional income from Mauritius be taxed? Will I have to pay PAYE in Mauritius and pay tax again when I submit my return to SARS?
I have heard ...

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When primary residence becomes secondary residence, what happens to capital gains tax?

Posted 2 February 2015

I bought my flat 7 years ago for R1 million, and it's probably worth R2. 5 million now. It's been my primary residence up till now, so I know I won't pay capital gains tax on it if I sell it right now. But what happens if I instead buy a new house to live in, and keep my flat to rent out (so it becomes my secondary residence)? Say I sell the flat in 3 years for R3. 5 million. Would the capital gains tax be calculated by subtracting R1 million from R3. 5 million to get R2. 5 milli...

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How to submit tax for freelance work

Posted 2 February 2015

I have been freelancing for 8 months now and have generated some income. How do I submit my tax return for these cash deposits? They are all different amounts from different clients. I obviously do not have an IRP5 as these were cash based payments.

Can you deduct expenses incurred in production of income when earning an hourly rate subject to PAYE

Posted 31 January 2015

Where you work on short term contract for an hourly rate and your "client" deducts employee tax from your earnings (following completion of a questionnaire), are you able to deduct expenses incurred in the production of that income - such as travel and subsistence?

Incorrect tax calculated

Posted 30 January 2015

I started a new job in January 2015. Our work uses VIP payroll for calculating and processing salaries. My gross salary is R43333. 33 per month (no other benefits). Why would the tax on my pay slip show R12 718. 35? Per the tax tables and this website I should be paying tax of R10 379. 04 together with UIF of R148. 72. R2 339. 31 of additional tax is being deducted. Why is this? And will it be corrected in future months?

Submission to the tax man if you are under the tax bracket

Posted 30 January 2015

Do I have to submit anything if I only earn R5000 a month?

Pension Fund Payout pre-retirement for tax purposes?

Posted 30 January 2015

I am 32 years old and have recently resigned (from a government department). I would like to withdraw my pension, but as part of this can either have it paid out to me (and taxed), or transferred to an RA fund. What are the tax implications for me on payout, considering I pay tax on my salary and business income, and am thus on a relatively high rate?

Is PAYE included in the gross income figure on an IRP5?

Posted 29 January 2015

Where do I show PAYE paid over to SARS in the books? And is PAYE included in the gross income figure (code 3601) on an IRP5?

IT88 definition?

Posted 28 January 2015

Please give the definition of IT88 and how it arises?

Tax refund on inheritance

Posted 28 January 2015

My partner inherited some money (from policies and investments) over the last financial year and paid a lot of tax on the payments. My question is, because he is not employed, can he claim any of the tax back?

What are the implications of self funding benefits such as life cover, disability, med aid etc?

Posted 28 January 2015

What are the tax implications of self funding benefits such as group life cover, disability cover, medical aid and retirement funding compared to when these benefits are funded in full. Partially by a company. Would my earnings or tax benefits be less or more?

Can income tax number be done over the phone

Posted 27 January 2015

Can't I apply for a income tax number over the phone because we don't have SARS in our area,and its my first time to get a job?

What to write in Employer Details field on IT77 form registering fot Income Tax

Posted 27 January 2015

My father passed away, I will be inherit his farms,there is a lease agreement that will continue. I am not currently working. I applied for a loan at Landbank, to pay estate duties, they require me to register for Income tax and Vat. What should I write on the application form field requiring Employer Details? Unemployed? or Self-Employed. Where do I register for VAT?

Incorrect provisional tax return resulting in monies owing to SARS?

Posted 27 January 2015

Can I negotiate with SARS to reduce an amount owing from a previously incorrect submitted tax return i. E. An accountant submitted a provisional tax return on my behalf. I left the company after three months and did not earn a further income. SARS now wants money from me.

Need special license for my business?

Posted 27 January 2015

Where can I get tuckshop licence

Tax refund for medical expenses paid from my own pocket?

Posted 27 January 2015

My husband pays the medical aid contribuions but I have paid 107000 to medical practitioners for operations that I have had in 2014 how much would I be able to claim on my tax return I have all the proof of payments made

Salary paid and claimable expenses?

Posted 26 January 2015

1. I am a salaried employee, I receive a travel allowance so I claim my business km's by using a logbook- but I would like to know whether I can also claim the depreciation on my vehicle even if I claim km's?

2. My wife was unemployed for 18 months, so I paid for her medical aid, she submitted a 0 return for herself, would just like to know whether I can claim the medical aid expenses on my tax return ( as I paid for it, but it is on her name). 3. I have a Samsung Tablet which I use 9...

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Tax implication for my child if I give her 500 000 .00?

Posted 25 January 2015

I want to give my child 500 000. 00what is the tax implication for my child?This is for a gift. Thank you kindly
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