AVS for first time tax payers

  Written by Marc   Posted 16 September 2013

Hi Tim.

I submitted my first tax returns this year. Was selected for audit even though I only claimed 2 month's worth of tax, submitted my IRP5 and waited. I see I have the AVS verification as SARS status. Is this normal for first time users or do I also need to go into a branch? I have not received a letter requesting any proof of banking yet.

Legal fees - Deductions for company

  Written by Marc   Posted 14 September 2013

If a worker at a construction company loses his footing and falls to his death during work and his family sues the company for damages, are the legal expenses pertaining to that claim deductible on the company's taxable income calculation?

Employer tax free bursaries for student employee

  Written by Marc   Posted 13 September 2013

Hi,I am currently busy with my masters degree in management. I am personally paying for all my studies.Can I arrange with my employer to set a certain portion of my salary aside as a bursary which is directly paid to the University thus lowering tax for my employer and myself?Also, is it possible for my employer to claim money from the the Skills Development Levy (SDL)?Basically, I want to know what can I arrange with my employer to reduce our tax burden. My employer will be open to any options ...

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Payment still pending due to audit

  Written by Marc   Posted 13 September 2013

Thank you for returning your 2009 tax certificate. Amount due to you R980.
Thank you for returning your 2010 tax certificate. Amount due to you R980.
Payment still pending due to audit.
What does this mean?

Non-prescription medication - is it tax deductible for over 75's?

  Written by Marc   Posted 12 September 2013

May taxpayers over 75 years of age deduct over the counter/ non-prescription medication from tax?

Finalization of assessment

  Written by Marc   Posted 12 September 2013

Hi Tim,I got a letter from SARS saying: they've finalized my assessment and that no further changes will be made. What does this even mean?

How long for payment on my refund

  Written by Marc   Posted 12 September 2013

Hi Tim
My broker submitted my tax returns for 2009 - 2013, then SARS asked for a medical document for 2013. I sent this and SARS say I am getting an refund on all those years. Can u please tell me how long it's going to take for payment of the refund. There is no audit.

Can you claim school fees from tax?

  Written by Marc   Posted 12 September 2013

Hi TimCan you claim school fees from tax?Thanks!M

Can you claim monthly groceries from tax?

  Written by Marc   Posted 12 September 2013

Hi TimI've heard that you can claim some of your monthly expenditures, like groceries, from tax... Is this true?Thanks!M

Can I claim my child's university fees and the domestic worker's fee of R150 once a week?

  Written by Marc   Posted 12 September 2013

I'd like to find out if I can I claim my child's university fees?Also can I claim the amount I pay to our domestic worker who comes in once a week at a rate of R150.00?

Seeking my Income Tax number, although I am employed

  Written by Marc   Posted 12 September 2013

I have been employed since September 2012, even though I was not earning a taxable amount, but now I am now earning it. Looking at my payslips since the start of 2013 I found out that the one for March has got the P.A.Y.E deducted as well as U.I.F but from the next month being April I no longer get that P.A.Y.E deductions except U.IF.

Please Tim, does it mean I do not have an income tax number? I called my employer and they referred me to SARS. I can't understand this as I need this income tax number for my new employer. ...

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Amount due to me from SARS / due to SARS from me?

  Written by Marc   Posted 11 September 2013

How would I know if there's an outstanding amount owed to me by SARS or vice versa.

CGT - Offshore Stock

  Written by Marc   Posted 11 September 2013

Tim

I have a question. I live in the UK. I have been living here for 5 years. I have property and bank accounts in South Africa. I submit my tax returns every year, claiming a loss on my bonds over my properties. I put my foreign income under section S10(1)(o).

I want to know about off shore investments, if I decide to buy US Stock today, will this be the base cost for CGT purposes or will it be the day I return permanently to South Africa?

How would this differ...

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Do I need a logbook for aTravel allowance?

  Written by Marc   Posted 11 September 2013

If receiving a fixed travel allowance is it necessary to maintain a logbook?

Are s6A medical rebates deductible from your provisional tax payable?

  Written by Marc   Posted 10 September 2013

When calculating your provisional payment, does s6A medical scheme credit qualify as a deduction from the final tax amount? i.e. can you deduct the primary-tertiary rebates as well as the medical?

Private practice queries

  Written by Marc   Posted 10 September 2013

I've started my own private practice
I was employed before that and was a registered "normal" tax payer and did my e-filing chop chop easy. I'd like to continue doing my own e-filing:

Do I have to register now as a different tax payer now that I'm working for myself?
And must I complete the form where it asks for my own income and will it automatically update then and ask if I had other expenses?

And what all can I keep as "business" expenses? (I rent an office and pay a receptionist as well)...

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There is nowhere to list my deductions as a self employed business owner

  Written by Marc   Posted 10 September 2013

I am filling out the tax return and despite having said Yes to being a provisional tax payer it is asking me questions relevant only to an employee, such as do I have a company car etc and keeps referring to my IRP5, which obviously I don't have, being self employed.

Has something gone wrong, am I filling in the wrong form? Where do I list my deductions, of which there are many?

Can I get money from a tax return and how?

  Written by Marc   Posted 10 September 2013

Can I get money from my tax return and how much is the money per year of working?

How to fill in your Tax return with two sources of income, but no IRP 5?

  Written by Marc   Posted 10 September 2013

I do work for a research group but am not formerly employed by the research group at the university. I am listed as a vendor and get paid for things I do for the group. Effectively as a supplier of things I make.

So how do I fill in my tax form since I am in the tax threshold. I do not get a IRP 5 since I am not employed by them. I also received a pay out of a fund that I had from my previous work and it shows up in my form as an employer.

Now I would like to know how do I go about to fill in my form as I am receiving income but do not know what code or where to put it in the form. ...

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Travel allowance back up docs

  Written by Marc   Posted 10 September 2013

Hi TaxTimWhat kind of back up documentation must one hand in when you have a 3701 and 3702 code on your IRP5?Regards

Hi Tim, is code 3715 on my IRP5 claimable from SARS?

  Written by Marc   Posted 10 September 2013

Hi Tim, is code 3715 on my IRP5 claimable from SARS?

Foreign Cruise ship income

  Written by Marc   Posted 10 September 2013

Hi Tim, Please assist, I have earned foreign income working on the cruise ships. However, I have been in SA for more than 183 days for both 2013 tax year and 2014 tax year.Are there special exclusions for cruise ship income?Many thanks

How long will it take to be refunded after resubmitting my tax return?

  Written by Marc   Posted 9 September 2013

Hi Tim. I submitted my tax returns and did not claim on my travel allowance, now SARS sends me an SMS stating I owe R8750. If I were to resubmit and claim on my travel allowance, how long will it take for SARS to refund, and what's gonna happen on the amount they say I owe? Regards Themba

Can individuals doing community service claim tax back for HPCSA registation fees?

  Written by Marc   Posted 8 September 2013

Hi Tim, I was a Community Service psychologist for the tax year 2013. Can I claim my HPCSA fees back and the money I have spent on professional development (obtaining CPD points)? I know permanently employed people cannot claim this back. But would the same apply to community services, as we are still considered students and we are employed on a contract basis?

Kind regards
Kelly

Vehicle tax benefits for CC or Pty company

  Written by Marc   Posted 8 September 2013

What are the tax benefits of leasing a vehicle? The lease amount is R4 000 p/m and it's for 36 months. Should I rather get a single cab bakkie and claim the VAT back on that? I own a few restaurants, so it would be for picking up emergency stock and the company logo will be displayed on either vehicle (if that makes any difference).
I own a cc and a pty(ltd), is there different tax benefits for them?
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