How to declare foreign income?

  Written by Evan   Posted 17 August 2015

Hi, I have a small website that generates some commission from clicks on advertisements. I get paid in USD and GBP. The money is wired from Germany directly to my personal bank account and converted into ZAR. I don't own a formal business and it is relatively small amounts that are transferred. I also have a property that generates rental income. How do I go about declaring the income properly on my tax returns?

Are vehicle repayments tax deductable for a sole-proprietor?

  Written by Marc   Posted 17 August 2015

I am a sole proprietor in a health profession. I have an office, but I see a lot of clients at their homes or primary residence. I need a car to conduct my business, and have just bought a new car. What are the tax implications of this? Can I deduct the repayments and insurance premium as a business expense?

Fringe benefit calc on use of company vehicle for period less than a month?

  Written by Marc   Posted 17 August 2015

How do I calculate fringe benefits tax on the use of a company vehicle. The vehicle was received on the 14 Aug 2015.

University fees deductible?

  Written by Marc   Posted 17 August 2015

Good Morning,
My son is 22 years old, dependent on me and is currently studying a BCom. Can I claim his living and un iversity costs as deductible?

Need help with filing for CGT

  Written by Evan   Posted 17 August 2015

I need help with filing for capital gains tax. I sold my property in August 2014.

Tax Clearance Certificate?

  Written by Marc   Posted 17 August 2015

How long does it take to get a TCC renewal, over the counter at SARS? Can I send a representative? if so, what are the requirements/

What is my personal tax number?

  Written by Evan   Posted 17 August 2015

How do I get my tax number if I was never employed?

My 2013 refund did not get it

  Written by Evan   Posted 17 August 2015

Last year I was supposed to get my refund and I did not get it. What happened?

Tax bracket if work half year only

  Written by Marc   Posted 17 August 2015

If I only worked 6 months of a 12 year tax period, should my final tax bracket be based on actual taxable income for the year (e. G. R200k taxable income for 6 months at 25% marginal) or at what the tax bracket would have been, had I earned that salary for 12 months, which would have been R400k (i. E. At 35% marginal)? I paid PAYE on the basis that I earned that salary for a full year (higher tax bracket), multiplied by 6 month/ 12 months. Therefore I feel I have overpaid when I look at my taxab...

Read more →

Home expenses when working from home and commission is less than 50 % of income

  Written by Marc   Posted 17 August 2015

If you earn a fixed salary and commission from the same employer and the commission is less than 50 % of the salary, can a deduction for home office space be utilised?
The employer confirms in writing that the employee works from home only and the employee incurred expenses to set up and amintian the home office. The salary was structured in a way to also include a Travel allowance and full logbook detail is being kept

How much do I claim back from r80 000 that was taxed from my provident fund paid out by employer

  Written by Marc   Posted 17 August 2015

I have resigned at work an received my pension whereas I was taxed nearly R80 000 how much am I suppose to claim back

What must the refund amount be before SARS will pay?

  Written by Evan   Posted 17 August 2015

How much must my refund be before SARS will pay?

How do commission earners get taxed?

  Written by Marc   Posted 17 August 2015

I earn a basic salary and earn commission every month. How do I know what percentage of my commission earnings will have to go to tax? I find it difficult to manage my expenses as I never know what percentage of my money will have to go towards tax. Are you able to tell me what these percentages are based on how much one would earn?

Can I claim the contributions made to my GAP Cover scheme?

  Written by Marc   Posted 17 August 2015

Can I claim the contributions made to my GAP Cover scheme under the "not paid by medical aid"?

I want to know how much tax I should pay?

  Written by Marc   Posted 17 August 2015

What is the amount tax to be deducted from a R11000 basic salary(nett income)the only deduction I have is my pension fund of 660 / UIF of 120 and my rent of the house im renting of 2205.

Equipment depreciation

  Written by Marc   Posted 17 August 2015

I am a self employed design consultant. I purchased a laptop I use for work late 2012, and have been depreciating it for the last 2 tax years (2013, 2014). My office was recently broken into and the laptop was stolen. Am I able to still claim depreciation on it (2015), even though it is no longer in my possession?
With the insurance payout I have replaced the equipment. Am I able to claim the full amount of the new equipment, or only the difference between payout and replacement cost?

Pay out waiting period from SARS?

  Written by Marc   Posted 17 August 2015

I've submitted my tax return 2 weeks ago and saw that I've received some refund. I would just like to know how long I will be waiting as most people say that it will on take one week.

"statement of assets and liabilities"

  Written by Marc   Posted 17 August 2015

Hi Tim,
"statement of assets and liabilities"
I dont remember seeing the field for motor vehicles on previous tax returns. Is it necessary to declare motor vehicles. . ?
Also: cash in bank accounts and personal effects. . . ?
thanks!

Travel/vehicle allowance not stated on my IRP5 by employer

  Written by Marc   Posted 14 August 2015

My previous employer never put a travel/car allowance on my IRP5 thought I travelled more than 40000km for them in 11 months. Can this be corrected? Unfortunately the consultant who did my returns for me already submitted without informing me before submitting about this issue. What can I do?

Tax on receiving death benefit from retirement annuity?

  Written by Marc   Posted 14 August 2015

I have a question about receiving the death benefit from a parent's retirement annuity payout. How will this affect my tax once I've received the payout?

2014 tax year return?

  Written by Marc   Posted 14 August 2015

How do I go back to 2014 tax year tax return

No respond for pending audit payment

  Written by Marc   Posted 14 August 2015

I submitted my tax return on date 11 august and I received an sms payment due to you is pending audit does that mean I have to submit supporting document cause I dont receive any sms for direction from SARS.

When do I start paying tax when I'm only registered for tax on the 1st of June 2015.

  Written by Marc   Posted 14 August 2015

I have been employed and registered for tax the 1 st of June 2015, this being my first job. Do I still need to pay tax this year? When do I start?

Where does REIT (code 4238) get recorded on the IT12?

  Written by Marc   Posted 14 August 2015

Where does REIT (code 4238) get recorded on the IT12?

If one changes employment do they have to do 2 sets of submissions?

  Written by Marc   Posted 14 August 2015

I have changed Employment in November 2014. I left my previous employer end of Oct 2015 amd joined the current one in Nov 2015. I was on Travel allowance on my previous job and i'm now on a car allowance benefit. How do I go about in completing my SARS eFilling? do I need to have 2 set off IRP5's?
Older posts →← Newer posts    111  112  113  114  115  116  117  118  119  120  121  122  123  124  125  126  127  128  129  130  131