The 2007 return is a very simple one, its pure Income tax, no claims, no supporting docs required.

Posted 29 July 2015

Hi Tax Tim. On 06/07/2015 I went to submit my tax returns as far back as 2007. I had been living abroad working intermittently on the odd year in SA. SARS were great, all tax returns were filed with no claims on any tax deductions so no supporting documents required. I have a tax return due to me however because the 2007 tax return was so far back its gone for processing and now is holding up my tax return from all the other years. The 2007 tax return is a very simple one, its pure Income tax, n...

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Which tax rates apply to lump sum withdrawal after transfer from provident to preservation fund

Posted 29 July 2015

I'm over 55 years of age and was retrenched at the end of March 2015. Following retrenchment I chose to transfer my provident fund to a preservation fund. Now, four months later, I'd like to withdraw the full benefit (more than R1 050 000) as a lump sum from the preservation fund. Will I still be taxed for the lump sum withdrawal as a retrenched person (i. E involuntary termination of employment) or will I now incur the higher rates applicable to persons who terminate employment voluntar...

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Investment and capital transfer

Posted 29 July 2015

I have recently got married to a UK national and he is wanting to transfer some funds for an investment in SA. He is going to transfer the funds into my current account which I will then transfer into a unit trust.

Firstly do I need to submit a donations form they have on the SARS website and if it exceeds the R100,000 will it be liable for tax?
Secondly the income from the investment will be paid monthly. If it exceeds the R23,080 annual exemption what is the rate on the excess? Is it still taxable even if it is below R70,000 per year? I have no remuneration just the investment income....

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Treatment of legal costs in CCMA

Posted 29 July 2015

Was unfairly dismissed and at CCMA employer agreed to retrench me. I received the correct tax directive. How do I claim the legal costs incurred to fight my employer? I am unemployment but received rental income from my properties during the tax year.

Medical tax credits refunded into my account?

Posted 29 July 2015

I have a medical scheme tax credit of R12,360.00, claims not recovered from scheme of R10,455.29 and out of pocket expenses R5,295.84. Usually the receiver would refund me this expenses straight into my bank account. They told me that the legislation has changed when I queried this. Who receives this credit and how do I claim it back? I have unpaid medical expenses for 2015.

I need my password and forgot all the details

Posted 29 July 2015

I want to check my status on my tax return but am struggling to login to my SARS eFile account?

If I work overseas for two years on contract could I be liable for SA tax?

Posted 29 July 2015

I am going to work in Dubai on a two year contract and will spend less than 90 days in both these years in South Africa. However, I am leaving my family home, wife and children in South Africa. Would I be defined as ordinarily resident in SA and liable for SA taxation?

What tax do you pay for lump sum before pension if you are retrenched?

Posted 29 July 2015

I am getting a retrenchment package. I am under 55 what tax will I pay on my pension R300,000 if I get it paid out?

Tax return not submitted 2008

Posted 29 July 2015

Hi Tim, I have submitted my tax returns from 2010 to date but did not from 2008 and 2009 as I thought I was below the earning bracket. I called SARS now and I am due for a refund but they want my tax return for 2008 and 2009. How do I go about doing this?

How much post-tax funds will I have after retrenchment?

Posted 29 July 2015

How much tax will I pay on R1,030,935 severance package due to retrenchment? This excludes my provident fund, which I will move to a preservation fund or RA.

How do I get refund from SARS?

Posted 29 July 2015

I worked for a company last year and they deducted tax from my salary will I be able to get a refund?

Travel Allowance Reimbursement Code

Posted 29 July 2015

If I travel for business purposes and I do not get a travel allowance, then the company reimburses me at the AA rates. How does this amount get taxed? And should I be paying tax on this?

I see the company reflected this under code 3702, should it not be under code 3703?

Register for tax return

Posted 29 July 2015

Good morning sir how do I register?

Transfer of funds between RAFs

Posted 29 July 2015

I transferred funds between Retirement Annuity Funds during the course of the year. An IRP5 has been issued by the old fund. Is there any deduction that can be claimed as the funds were transferred directly into another RA and not to myself?

I registered a business with CIPC on 11/2014. Do I need to add info to my Personal tax return?

Posted 29 July 2015

I registered a business with CIPC on 11/2014. Do I need to add info to my Personal tax return regarding this business?

Voucher code not working

Posted 29 July 2015

This is not a tax question - paid June 3 - received a voucher code - when I try and input the code 'Sorry that code is incorrect' comes up. Who do I contact to rectify this - who can I email with details?

Cannot get IRP5

Posted 29 July 2015

I cannot get my IRP5 from my previous employer. Can you advise what can be done?

Tax return for business

Posted 29 July 2015

Need to file tax return for business. Do you have a small business tax return product?

Can I claim toll gate fees?

Posted 29 July 2015

Can I claim toll gate fees?

Pensioenfonds

Posted 29 July 2015

Moet ek die totale bedrag wat ek in my annuiteit betaal het insleutel of die bedrag per maand?

New home transfer duties

Posted 29 July 2015

We bought a home and was told that we could claim back on the Transfer duty and registration cost that we paid over. Is this possible and how do we do this?

Claiming Medical Expenses paid as part of divorce agreement to ex-wife.

Posted 29 July 2015

I am divorced and as part of the settlement agreement, I pay my ex-wife's Medical Aid premium over to her. She belong to a registered medical aid in SA. I also refund her medical expenses to her which the medical aid does not cover. Can I claim her the amount of medical expenses that I pay to her on my tax return. My ex-wife does not claim her Medical Expenses.

Changing banking details in branch

Posted 29 July 2015

Good day, What is the best way to go about changing your banking details with SARS? If you recommend going into a branch. Which branch would you reccommend in JHB? Thank you

Do I have returns?

Posted 29 July 2015

Is it possible for you to tell if I got returns available?

Redundancy tax paid

Posted 29 July 2015

I was made redundant end of Jan 2015. On my package I paid tax on leave encashment. Will I get this back on my next tax claim?
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