Documentation for provisional tax return?

Posted 3 September 2015

What documents are needed by TaxTim to complete provisional tax return?

Taxes for a dormant company

Posted 3 September 2015

Sometime last year I registered a company, but it has basically been dormant and I only pay the -R60 into my FNB business account every month to cover the fees (and keep my balance in the black). Instead I have just been doing business in my personal capacity and paying personal income tax (and provisional tax of course). I am unsure about about the rules governing companies, do I still need to submit any forms to SARS (or anybody else for that matter)?

I don't have an IRP5 as I am an independent contractor

Posted 1 September 2015

I did not receive an IRP5 as I am an a independent contractor/consultant. All my income was derived through consulting work. Tax Tim is now saying that I need information from my IRP5 or there is a conflict. I am a provisional tax payer and yet the amount I paid in as provisional tax is never requested?

Tax payment from salary

Posted 30 August 2015

If I am employed under a sole proprietor, and my salary has not deductions at every "pay-day" (eg. I don't received a salary advice reflecting deductions of PAYE or UIF). Would there be any recourse against me from SARS, is it the responsibility of the company to make the relevant deductions each month and to pay it to SARS?

I am really uncertain about all of these things, as in the past (before my retrenchment period prior to this job), the companies that I worked for did all of thes...

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Can you pay provisional tax once per year?

Posted 30 August 2015

Can you pay provisional tax just once per year in Feb

Medical scheme tax credit

Posted 30 August 2015

Provisional Tax - how to work out the amount for "medical schemes fees tax credit" and "additional medical expenses tax credit". I believe there is a specific formula to use.

Are home office refurbishments tax deductible?

Posted 28 August 2015

I am a sole proprietor of a business and work from a study at home. If I refurbish my study (e. G. Put in fixed cupboards and shelving) with the express purpose of improving my business workspace, is the cost of the refurbishment tax deductible? If so, under what item do I place it? Similarly, if I buy items for my home office (e. G. Office chair), are those tax deductible?

Provisional Tax, should I submit?

Posted 28 August 2015

I get income through three sources:
- Salary
- Rental Income
- Affiliate Advertising Income

This year, I filled in my tax return (using TaxTim) indicating that I am (or should be a provisional taxpayer). However, my rental made a loss after all expenses and my affiliate income was really small for the year (less than R5,000 after expenses). I received the following from SARS in my ITA34 for 2015 tax season:
"According to the information you declared in your income tax return, you were liable to pay provisional tax for this year of assessment...

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Freelancer with multiple sources of income, what sort of tax do I register for and how do I sumbit?

Posted 27 August 2015

I am a freelancer working in the film industry. As such I have have periods of consistent work with a production company for a number of months, but also gain smaller amounts of income from private work on the side. Giving short courses and doing small corporate or private videos and edits. I am not registred as company and do all work as a private individual. How do I divide up my income, to sumbit for my tax return?
And what type of tax-payer would I register as?

This is my fir...

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12 mth estimate or actual 6 mth figures for medical cr and expenses calc- period 1 2016 Prov Tax?

Posted 26 August 2015

For Provisional tax that's due now, do I enter medical credit for the year as per SARS instructions and then half it or not? Same question for medical expenses, do I add up medical expenses for 6 months (March to August 2015) and then multiply by 2 for estimate for one year or not to multiply and submit actual?

Tax on Sole Trader

Posted 26 August 2015

Hi all, I'm considering starting a Sole Proprietor business. I'm not exactly sure regarding the tax implications. Let say for example I receive R10,000 per month (independent contractor I receive this from 3 different sources)... All this income goes into my personal bank account... Should I now pay personal tax on the whole amount of R10,000 or do I just pay personal tax on the net amount after my deductions for bringing forth the income?And if I hire one employee and I get R5k and he gets 5K p...

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Due date for ITR14 for CC's?

Posted 26 August 2015

When are Income Tax Returns (ITR14) due for CC's. Is it the same as for Individual Provisional Taxpayers?

Zero provisional tax return

Posted 25 August 2015

I am registered as a provisional taxpayer as I earn investment income however due to contributions made to retirement annuity funds I will not owe SARS anything. In fact I expect a refund. Do I still have to complete a zero provisional tax return?

Provisional tax for business and personal

Posted 25 August 2015

Last month I registered my company as a Pty Ltd (previously I was a sole proprietor and was being taxed in my personal capacity). I am paying myself a monthly salary from my company, plus charging the company for a portion of the cell phone bill, etc. With respect to provisional tax, are my following understandings correct:
(a) In general, do I need to pay provisional tax both in my private capacity and as a business?
(b) Do I need to pay provisional tax now [August] for my business? (if not, when will I first need to complete my provisional tax return for my business?)...

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When do I submit tax for the first time?

Posted 25 August 2015

In March 2015 I embarked on my freelancing career. I have been working for numerous companies of which some pay tax and some don't. I also have a business where I get a percentage of profit share. Am I correct in saying that I need to register to become a provisional tax payer and when do I file my first submission?

Provisional Tax Calculation

Posted 24 August 2015

how do i work out the estimated profits for provisional tax payment to be effected end of august?

Signature required while eFiling?

Posted 24 August 2015

When completing the IRP6 and ITR12 via SARS eFiling, what happens with the section where they request a signature. Does one ignore that when SARS eFiling?

Should I register for provisional tax if I have more than one employer?

Posted 21 August 2015

What do you do if you have more than one employer and thus have more than one IRP5 or IT3? Should you register as provisional tax payer or not?

Income tax return 2015

Posted 20 August 2015

I submitted two provisional tax returns for capital gains tax for 2014/2015. Now I want to submit my annual tax return (ITR12). I already have an IRP5 from my employer. What do I do with the provisional tax information? Do I include it on my annual tax return or what? Please advice

Must I pay provisional tax?

Posted 19 August 2015

I earn a salary of R5500 per month, I am under 65 years and receive interest and dividends of R25000 per year. What forms must I complete for my tax return? Must I pay provisional tax?
Thank you

My provisional tax paid to date totals more than my provisional earnings for tax year 2015.

Posted 17 August 2015

I have successfully completed my tax returns via SARS eFiling for several years. Reason for registering with your website is to get further advice on my provisional tax submissions (2015-1 / 2015-2) already made) and support with my salaried tax submission for 2015. I have already paid SARS two amounts totalling more than my provisional earnings for tax year 2015. So.. It's imperative that if I have overpaid SARS that I get this back when filing my tax return for 2015.

Are vehicle repayments tax deductable for a sole-proprietor?

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?

What to include as taxable income for provisional tax calculations

Posted 13 August 2015

When calculating "taxable income" on an IRP6 should one include
- expected investment interest ?
- expected investment share dividends ?

Thank you.

Is the Provisional Tax threshold inclusive of Normal Salary + My company paying me out (Dividend)?

Posted 12 August 2015

I registered a company and It was registered for income tax. I am the sole Director and shareholder. When it makes money and I pay some of this to myself am I liable for provisional tax? I know there is a threshold but does that threshold amount include my Normal Salary that I get from my employer?

Explain to me how does provisional tax work or who should submit and how often ?

Posted 12 August 2015

Explain to me who qualifies to submit provisional tax and how often? If you are sole trader, pty, cc, trust account.
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