Claiming deductions for business expenses working as an independent contractor for a foreign company

Posted 19 November 2014

I work as an independent contractor for a company based in San Francisco, USA from my home office in Cape Town. Each month I invoice them for the number of hours worked and they pay in USD and I handle the forex to convert that to Rands.

I have some expenses directly incurred in generating this income (telecoms costs, software licenses, computer equipment depreciation and a portion of my electricity and rent for the home office, etc). I don't have an IRP5 from them since I'm not an employee and they aren't a South African company...

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Tax refund query - Maternity

Posted 19 November 2014

I had to pay back my salary that was paid while on maternity leave (due to resigning). Can I claim back from Sars? I did not receive any money from UIF.

Medical plan contribution?

Posted 19 November 2014

I make a medical plan contribution of R850.00 each month. this amount includes the employers' contribution. The contributions are kept in a separate bank account and not controlled/managed by organisations like Discovery Life etc, therefore I cannot provide a tax certificate for this medical plan. What should I do in this case?

need to no how my payslip work.

Posted 19 November 2014

hello I just need to know is my taxable earnings money that belongs to me or not thank you.

Maximum amount under code 3703

Posted 19 November 2014

My company reimbursed me an amount of over R50k on code 3703 (non-taxable reimbursement) for fuel used during the tax year. SARS then moved the full amount to code 3702 (taxable reimbursement) saying that this amount exceeded the max allowable for code 3703 which is R25920 (8000km x R 3.24). They now want me to pay more than R15k in additional taxes. They asked me now to provide an amended IRP5 showing not more that R25920 under code 3702 which I have requested from my employer. Is there anythi...

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How to do the tax calculation upon resignation?

Posted 18 November 2014

I'm resigning from the department of education. I received benefit calculation from GEPF = R1 285 837 what will my tax be ?
thanx

How much tax do I pay on a gross salary of R75 000?

Posted 18 November 2014

I want to know how much tax I should pay on a gross salary of 75 000 ZAR per month? I checked the SARS calculation table and I do not understand how to do it. The maximum salary they have down is R63,763.00.
There is a note that says:" If the table is inadequate: Add R18,256 (under 65), R17,663 or R17,466 (over 75) to the result of [40% X (actual annual remuneration less R63,713]. Apply rounding to the end result by disregarding the cents."

Trade my car in and receveid the difference of settlement amount. Must it be declared under what

Posted 18 November 2014

I bought a new car for private use only. The old car was trade in. The new car was bought on credit without a deposit and the garage paid out the difference between settlement of the old car. Must I declare that money and under what must it b declare.

Tax on shares for capital purposes?

Posted 18 November 2014

If one has a share account with a stockbroker and had made share sales in the year, how does one include this on their tax return? Do you log each stock capital gain separately or do you log a single number for all your different shares together?

I do have code 4018 but im prompt that I DO NOT have it, what now?????

Posted 18 November 2014

Please make the below changes before continuing:

You can't enter income protection as a deduction if your IRP5 deductions list doesn't contain source code 4018

MY IRP5 DOES CONTAIN 4018 WHAT NOW???

Reistoelaag kodes 3701 & 3702 verskil

Posted 18 November 2014

Hallo. Wat is die verskil tussen die reistoelaag kode 3701 & 3702 en wat is die impak daarvan?

Capital Gain Tax for Private Vehicles Used for Business?

Posted 18 November 2014

I have a private vehicle which I use for business purposes.
I receive a travel allowance and also claim deductions on my return, based on the business mileage I do on the vehicle.

If I sell this vehicle, would I calculate capital gain/loss on the sale of the asset to input in my tax return?

Query for Tax Tim Website - want to know what documents to bring along to the internet store before.

Posted 18 November 2014

What documents do I need when asking tim to complete my SARS tax form? IRP5 and anything else ?

How is the income from my discretionary savings taxed, in retirement, e.g. I invest the discretionar

Posted 18 November 2014

I am about to retire at age 60 years, with two main streams of income, i.e. proceeds from Provident Fund and retirement annuities which I plan on putting in a Living Annuity and discretionary(after tax) saving proceeds. I understand the income from the living annuity will be taxed at PAYE rates. How is the income from my discretionary savings taxed, in retirement, e.g. I invest the discretionary savings in unit trusts and take an annual income from that which I place in my Money Market account t...

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If a educational service is rendenderd can I claim depreciation on laptop and other expenses?

Posted 18 November 2014

I rendered services to a home schooling business by draw up exam papers for them and receives the money by electronic payment. No tax is deducted by them because I am not on their payroll. Can I deduct depreciation on my computer. Can I claim any other expenses like internet service, printing. Can I claim a home office?

Uncertain as to whether I should be completing a tax return.

Posted 18 November 2014

I have been working on contract for various companies during the last tax year March 2013 to December 2013. I only starting working for the Department of Justice on 6th January 2014. I have received a IRP5 form from the Dept and nothing previously but I am registered as a taxpayer. How do I go about completing my return?

What is I dont claim the kilometres travelled but I have a travel allowance?

Posted 18 November 2014

what if I have travel allowance and I don't claim the kilometres I traveled?

Do you do registration of taxpayer or must taxpayer do that themselves?

Posted 18 November 2014

Do you do registration of taxpayer or must taxpayer do that themselves?

Can I claim back any of the tax I pay on my house now that I work from home?

Posted 18 November 2014

I have recently changed jobs and now I telecommute... that is, I work from my home in Cape Town even though the company I work for is based in Johannesburg. I am using my own office space, as well as my own internet connection for work purposes (though I get a modest monthly allowance for internet usage). Am I able to claim back any of the municipal rates and taxes that I pay on my home now that I am using it as my place of work?

Income tax on salary from a non- profit organisation in USA

Posted 18 November 2014

I"m working for a non-profit organisation in America. How does the income tax work?

What should my per annum salary be to pay taxes?

Posted 18 November 2014

How much do I need to earn in order to pay tax?

Cruise ship salary - is it taxable?

Posted 18 November 2014

I work for a cruise ship company and receive a monthly salary. I have been outside of SA for over 183 days and 60 days consecutively. I do not get an IRP5 from them. I understand that I will be exempt from taxes under s10 (1)(o). I am however uncertain where to document this in my ITR12. Do I document the entire amount under "amounts considered non taxable" under the heading exempt amount? Or do I work out the exempt amount according to the number of days I was abroad? The form also has a sectio...

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Am still a student, so can I get a tax reference number?

Posted 17 November 2014

Am still a student doing grade 12, so I was looking for part-timejob at Shoprite, they said they want reference tax number how can I get it.

What is the - sign for on my ITA34?

Posted 17 November 2014

when an assessment is done and I get a refund amount with a - sign what does it mean e.g refund amount -R 300.00

Was unemployed for the year but paid medical aid and received local interest, can't file return?

Posted 17 November 2014

I don't live in South Africa anymore but I did contribute to a medical aid last year for 5 months. Plus I have an investment that has earned interest. I never earned any other income in South Africa, only in the country that I live in now. If I want to file my tax return I would only need to fill in the medical aid contributions and my local interest. On the first page of my tax return it does not allow me to create a form where both medical aid contributions and local interest appears. If ...

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