How can I depreciate my small business equipment if I dont have invoices?

Posted 9 April 2017

I have a mobile phone; laptop; tablet and home office furniture which I use for my small business. I bought them four years ago, but I've never depreciated them because this is my first year of business. Can I depreciate them now even if I don't have the invoices anymore? And, if I don't depreciate them can I just record it as a company asset? These IT equipment were bought second hand and some are old.

Capital gains tax or income tax - forex trading

Posted 9 April 2017

What's the difference between capital gains tax and income tax? Which of the two does retail forex trading fall under?

Legal methods for reducing commission tax?

Posted 7 April 2017

I work in IT and I get paid my normal salary every month and on occasion. I'm also involved with projects where I earn commission. I don't actually know how my commission is calculated, but I'd like to know how I can get more of my commission paid to me instead of being taxed so highly. My Minimal expenses are i.e. calls and some driving around but I don't claim for it because it's usually a very small claim.

Emigrating and tax affairs

Posted 6 April 2017

What does SARS need to finalise tax affairs when emigrating? All my local income will come to an end once I leave.

Capital Gains Tax: Two

Posted 5 April 2017

I bought a house in December 2013. In November 2015, I bought a second house and it was registered in my name, February 2017. The intention was to let out the first house, and we moved March 2016, with the first house now being empty. However, in the meanwhile, I decided to sell the first house. I haven't had any tenants staying in the first house, it has been empty for a month now. We stayed in the first house since I bought it, for over two years. Will I be liable for capital gains tax, or wil...

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Tax clearance certificate for a non-resident

Posted 5 April 2017

A non South African citizen brought money into South Africa, bought a house and sold it recently. She needs a tax clearance certificate. How does she get it as she has no tax number?

CGT on primary residence (if it has been let out - also my only residence)

Posted 4 April 2017

What CGT would I be liable for if my primary residence is my only residence - but rented out?

Tax implication on Voluntary Severance Package

Posted 4 April 2017

What will my tax be on my pension R776000.00 and what will my tax be on my voluntary severance package R342000.00

Splitting medical aid contribution on a tax return

Posted 4 April 2017

I'm the main member on our medical aid and the R3500.00 contribution gets deducted from my account. However, my husband reimburses me for his half (R1750.00) and essentially we each pay for our own medical aid. To what extent can we each list a medical aid contribution of R1750.00 on our tax return?

When can a taxpayer claim the tertiary tax rebate?

Posted 4 April 2017

If a taxpayer turns 75 after 1 March 2017, does he/she get the benefit of the tertiary rebate in the February 2018 tax year, and does he/she have to already be 75 at the start of the tax year which would mean he/she can only get the rebate in the 2019 tax year?

Can register for tax without an ID?

Posted 4 April 2017

I want to register for a tax and it's urgent. I lost my ID and my driver's license too.

Income Tax on Dividends

Posted 4 April 2017

When receiving a Dividend from a Company (as a Shareholder). The Shareholder is taxed at 20% of the value on the dividend paid. If you're also earning a regular salary and paying PAYE monthly, would such dividends paid, be subject to additional Income Tax?

So, basically, would regular Individual Income Tax also apply on the dividend again after paying the 20% Dividend Tax?

NGO and Paying Tax

Posted 3 April 2017

In which circumstances will a non profit organisation pay tax?

Company Taxes (Income, PAYE, VAT etc) Registration

Posted 3 April 2017

Please advise if you're able to assist with registering our company for all relevant taxes and what the cost will be?

Paying a nanny- is it claimable?

Posted 2 April 2017

If you have a nanny can you claim for the wages you paid to her?

How do I calculate the municipal expenses on rental property without previous statements

Posted 2 April 2017

I cannot locate all my past municipal statements for my rental property, I need them in order to log the rates etc. as an expense. I've tried accessing them online, but they only sent the last bill.

SARS Refund and sequestration

Posted 2 April 2017

Why do I need to disclose my income tax number in my sequestration court application? Does this mean that I will not get any SARS refunds due to me whilst under sequestration?

Provisional Tax Submission

Posted 31 March 2017

I freelanced for the 2016 tax year. I just applied to be a provisional taxpayer on SARS eFiling. Do I need to fill out an IRP3(pa)? And when is my first provisional tax payment due?

Bond credit life cover premiums

Posted 31 March 2017

Are bond credit life cover premiums tax deductible against rental income? Credit life cover is compulsory, as per the bond approval pre-agreement.

Can expenses incurred from other income be deducted?

Posted 30 March 2017

If I'm a full time employee plus I do something outside of work that generates income and expenses, can these expenses be deducted?

Tax Season Submission

Posted 30 March 2017

I recently just registered on your website. I wanted to ask, for the year
2017 personal submissions, do I have to wait for the 1st of July for my
submissions?

Tax on a deceased's Retirement Annuity

Posted 28 March 2017

I received money from my late dad's Retirement Annuity and I was taxed on this. Does that
matter at all?

Is a golf membership tax deductible?

Posted 28 March 2017

Can I claim tax back on my golf membership fees? I play golf with clients there, have meetings and network new clients. I own a lighting and electrical importing and wholesaling company

Paypal and tax submissions

Posted 28 March 2017

I'm permanently employed and I plan on making extra money through surveys and Paypal. How would I submit this to SARS? I've not done anything like this before and I wouldn't like to make an error with my tax return. And, would I have to declare the money if I don't actually take it from my Paypal account?

Tax calculations on returns not previously submitted

Posted 27 March 2017

If I didn't submit tax for more than 3 years. How is tax calculated?
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