Commission earners and staying up to date on what you can claim and what portions

  Written by Marc   Posted 26 September 2013

Hey TimI am back and this year I have subscribed to your service so I'm looking forward to easy filing!I do have a couple of questions, keeping it high level, as I earn the majority of my income on commission and spend quite a lot of my own income in making that possible. I'll just dive right in:A.) Can I claim depreciation on my 1.) Car and 2.) Scooter - how do I calculate that and where do I put that on my return if I can?B.) Can I claim insurance expenses on 1.) My Home Office and 2...

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Do SARS have the right to dictate where my refund is paid out?

  Written by Marc   Posted 26 September 2013

I went to verify my bank details at a SARS office only to find I have a third party bank account and I quote from SARS website "A third party account is an account where there is a main member but a secondary member has signing authority. No change of banking details will be allowed by a third party. If the secondary member is the taxpayer to whom a refund is due, he/she will have to open his/her individual bank account."
I have a problem with this. I closed my personal account to avoid du...

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Can VAT be claimed on capital purchases made prior to when the actual VAT registration takes place?

  Written by Marc   Posted 26 September 2013

Hi there, my brother started his own company and wishes to register for VAT. His company was registered on the 16 July this year. Prior to this he made purchases of machinery. Is there a possibility that that the vat registration could be applied retrospectively so that this VAT can be claimed? Also can the VAT on machinery purchases be claimed if the purchase was made after the company registration?
Thank you!

I will be working outside of South Africa for a year at a time. Will I still be liable for tax?

  Written by Marc   Posted 26 September 2013

As from November, I will be working outside of South Africa earning dollars. I will only come back for 30 days a year for my leave. My wife and children will still be living here, so I need to send money for them to live. Will the money I send be liable for South African tax?If I rather have my foreign salary paid into my South African bank account, Would that be taxed?Thanks a million.

What to include under 3601 and 3615 codes

  Written by Marc   Posted 26 September 2013

Do subsistence allowances, bonuses and right of use of motor vehicle fringe benefits get INCLUDED under code 3615 and 3601? Or must they be EXCLUDED from 3615 and 3601 and included under 3714, 3605 and 3802 respectively?

When do I start my logbook if got travel allowance halfway through year?

  Written by Marc   Posted 25 September 2013

Hi Tim, I get a travel allowance but however I started receiving it in June, but always had used the car since the month of April! So when do I start the date of my logbook for efiling?

How much PAYE deducted from a monthly salary of R8000?

  Written by Marc   Posted 25 September 2013

How much PAYE would be deducted from my salary if I earn R8000?

How to read negative refund amount in assessment

  Written by Marc   Posted 25 September 2013

Hi TimMy assessment letter says "Net amount refundable under this assessment after allowable creditsCompliance"and then shows a negative amount. Technically this would mean I owe SARS as a negative 'refund' means the oposite of a refund but I am not sure what they intend it to mean.What should I take this to mean?Thanks!

Tax on income working permanently in the UAE and declaring of such.

  Written by Marc   Posted 23 September 2013

Hi Tim,
I left SA on 1/9/2011 to take up a permanent employment in UAE, with a UAE company. I also took up residency in the UAE. I sold all my fixed assets in SA, except for my primary residence, which I left for the children to complete their university studies from. I didn't have any intention to return to SA and wanted to relocate elsewhere, after my pension. Unfortunately I was retrenched w.e.f. 10/12/2012 and I returned to SA on 18/12/2012. I visited SA in Nov 2011 for 10 days in Oct 2012 for 5 days. I only started to earned an income in SA in February 2013....

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How do I get my tax back when unemployed?

  Written by Marc   Posted 23 September 2013

How can I get my tax back because I don't work at this moment. How can I do it?

Unemployed and in need of cash.

  Written by Marc   Posted 22 September 2013

Is there any tax return funds available for me?

Car Allowance - Available deductions and Documents required

  Written by Marc   Posted 21 September 2013

My salary was structured in such a way that I have a car allowance of approx R5,5k and my contract states that due to this allowance I will be required to use my personal vehicle for company purposes. The company however includes the full allowance as 100% taxable income - and that my annual tax return will determine the actual taxable portion.

My question is - how will it be determined and what documents do I need to keep in order to have any available deductions? Please note that...

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Does "Gross salary" for PAYE include subsistence allowances, car allowances etc?

  Written by Marc   Posted 21 September 2013

What components make up "Gross salary"? Would things like subsistence allowances (local) and car allowances be included?

Tax on money from PayPal?

  Written by Marc   Posted 20 September 2013

Hi Tim
I'm a Freelance Artist, by profession, I mainly get paid through PayPal as most of my client/commissioners are overseas. I bring in on an average month between R8000-R9000. FNB charges a small fee and VAT get's charged on the money I get.
I wondering about how I pay the tax on this money and how much I am expected to pay.
Thanks

AVS Bank with AVS verification fail - Non Resident

  Written by Marc   Posted 20 September 2013

I am an Indian national. I was working in South Africa on a Work Permit from Jun-2012 to Oct-2012. After that I have returned back to India in Nov-2012. I have filed my South African Income Tax Return (ITR12). Based on the calculations in ITR12, I am supposed to get around R 28,000 from SARS as refund. I have checked in SARS efiling website through my login and found that the SARS Status is showing as "AVS Bank with AVS verification fail".
I am currently in India and thus am unable to visit...

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How to claim travel expenses without a logbook

  Written by Marc   Posted 18 September 2013

Is there another way of claiming for travel expenses if you don't have a log book?

Depreciation and tax life of a dragline bucket?

  Written by Marc   Posted 18 September 2013

What is the deduction Interpretation Note 47 for a Dragline Bucket?

As a SA citizen working outside SA on contract what tax do I pay if money paid into SA Bank Account?

  Written by Marc   Posted 18 September 2013

If I am a SA citizen and work outside the country on a 2 year contract but the money is paid into a SA bank account what do I pay in tax.

Tax on Bonuses and Medical Aid and perks

  Written by Marc   Posted 18 September 2013

1. How is bonus taxed?
2. Is my portion of Medical Aid taxed? Is it a perk?

Parents over 80yrs old, income of 350K/yr from rentals, do they need to pay tax?

  Written by Marc   Posted 18 September 2013

My parents are over 80. The only income they enjoy is from 5 rented cottages on the property where they collect on average ZAR 6000/month. This equates to a total income of around ZAR 350K/yr. They claim they do not need to pay tax on this nor need to complete a tax return!? Is this true?!

They are cashed up, do not have or service any debt. The only significant asset they own is the single property on which they both live and rent the cottages out.

What does R-111 on a IT34 stand for?

  Written by Marc   Posted 18 September 2013

What does R-111 on a IT34 stand for?

I have to claim travel, but didn't keep a logbook. Can I make one now or too late?

  Written by Marc   Posted 17 September 2013

Hi TaxTim! I have to claim travel, but didn't keep a logbook. Can I make one now or too late?

SARS tells me that I received a fringe benefit filed under Code 3808 and that I now owe them

  Written by Marc   Posted 17 September 2013

SARS tells me that I received a fringe benefit filed under Code 3808 and that I now owe them R15 000! I do not receive any benefits as such and Payroll confirms that there is no error on my IRP5.

Is there something that I have not claimed or acknowledged?

How does retirement annuity help me in regards to tax?

  Written by Marc   Posted 17 September 2013

How does a retirement annuity help me regarding tax deductions?

How am I going to know how much I will get and how do I calculate it?

  Written by Marc   Posted 17 September 2013

How will I know how much do I have to get, and how do I calculate?
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