Over 65 tax returns. Are they still required?

  Written by Marc   Posted 9 July 2013

I am over 65, a UK national with SA permanent residence. I have been out of SA for a number of years. My last SA tax return was in 2002. Some of my pensions are paid into a UK bank after UK tax has been deducted. I am registered with SARS eFiling. Whats my next step for 2012/2013 tax return?

Tax and business Registration?

  Written by Marc   Posted 9 July 2013

Hi Tim

I am looking to start a business from home. Myself as the owner and 8-9 employee's. Business could generate about R40 000 pm before deductions. Employees would get paid weekly between R600 - R800
per week.

Would I need to register my business with CIPC and with SARS to pay tax. Would I pay tax on the amount of money the business makes before any deductions like salaries and business expenditure. or would tax be calculated on the amount after deductions.

Could you also advise what the process is to register a small business....

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Can a wife claim on her late husband's tax?

  Written by Marc   Posted 9 July 2013

When a spouse dies (it was after the tax year), is the spouse entitled to claim this? If so, would it need to go through the estate or would it go directly to the spouse? This with being married "in community of property"

How do I know if SARS has completed assessing my return?

  Written by Marc   Posted 9 July 2013

HI there

I have submitted my return and my eFiling status says assessment received. I have received my ITA34 and have drawn up my Statement of accounts on my profile. I have not been selected for an audit and the amount specified is in a negative balance which I know means that money is due to be paid for me.

Does SARS send extra confirmation that they will be paying this out and how long does it take to receive my tax return?

Hope you can help me as This is the...

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Claim back for giving to PBO?

  Written by Marc   Posted 9 July 2013

What is the source code to claim on my tax return from giving to a public benefit organization?

Are student loan repayments tax deductible?

  Written by Marc   Posted 9 July 2013

I am employed full time, and was wondering if student loan repayments are tax deductible?

Retirement Annuity and Pension Fund claims on the ITR12 tax return?

  Written by Marc   Posted 9 July 2013

I know you claim the RA under the deductions on the ITR, but can you claim the premiums paid toward a pension fund as well and if you can where?

I am a freelance pilot, can I claim the cost of renewing my pilots licence ?

  Written by Marc   Posted 9 July 2013

or keeping them current if not used for a certain no of hours per year, as I have more than one? These are requirements from the CIA

section 18 medical deduction?

  Written by Marc   Posted 8 July 2013

I just want to know how do I calculate family limit for 2013 year of assessment. How much per month for taxpayer and first dependent and the other dependent?

Are UK pensions liable to South African income tax?

  Written by Marc   Posted 8 July 2013

Are UK state pensions or UK company pensions, paid into the UK Bank account of a British national, who is resident as a retired person in South Africa, liable to South African income tax?

If I use your online digital tax assistant application will it correctly cope with such overseas pension income?

Tax Returns and Refunds?

  Written by Marc   Posted 8 July 2013

How do I know if I will receive any returns this year when I submit my tax return?

Disclosure (Forex, shares, unit trusts)

  Written by Marc   Posted 8 July 2013

Is there a need to disclose that I trade forex online even though I am sitting on a loss?
Is there a need to disclose for this assessment period that I had share investments and unit trusts, I disposed all shares and part of the unit trusts end of March i.e. outside the current assessment yr. after holding them for less than a year (wedding expenses over budget)?

How do I tell SARS I have already paid provisional tax when completing my ITR12?

  Written by Marc   Posted 8 July 2013

I earn a salary per month which I pay PAYE on. I then have a business on the side which generates about R 10k per month. Do I need to register for provisional tax and if so what do I declare on the IRP6 - only the income relating to the business on the side? What can I deduct as expenses ont he IRP5? Thanks

Why do I have an amount on my IRP5 under code 3698?

  Written by Marc   Posted 8 July 2013

I just received my IRP5 today from my former employer and I have an amount under code 3698 which I believe is reserved for Gross Non-Retirement Funding Income.
Last Tax Year I was working outside the borders of South Africa and was in the local payroll only because I was in the local Medical Aid (I left my dependents in South Africa while working abroad), I did not receive any other income in South Africa.

If l'm working for construction and don't get the IRP5 what must l do?

  Written by Marc   Posted 8 July 2013

I've been working for construction companies from 2002 until now 2013 but l haven't received any IRP5,now l don't know if its too late or l can still claim my tax refunds from SARS?

How do I edit/complete an incomplete form?

  Written by Marc   Posted 7 July 2013

How do I edit/complete an incomplete form?
I want to add information I left out on the questionnaire.

I have been retrenched in Feb 2012 and don't know how to do my tax?

  Written by Marc   Posted 7 July 2013

Will I be able to claim back on taxed amounts on my retrenchment package. What documentation do I need to submit to show my retrenchment in 2012.

If I work away from home can I deduct accommodation costs?

  Written by Marc   Posted 6 July 2013

I live in the Cape but have been working in Johannesburg for six months of the tax year. The company I work for has given me an IRP5 and submitted that to SARS. I am paying for a B&B in Jhb privately - can I deduct that from my salary?

What happens if the employer made a mistake on the IRP5s resulting in employees owing SARS?

  Written by Marc   Posted 6 July 2013

Employer forgot to include medical contributions' taxable fringe benefit in the calculation of tax payable but reflected the deemed amount under code 3810, 4005 and 4474. As a result of the changes on the way the allowable medical expenses are claimed at assessment, employees end up owing SARS. What options does the employer have to remedy the situation?

Completion Letter and Verification of assessment

  Written by Marc   Posted 6 July 2013

Hi Tim

Fantastic Blog.

I received a completion letter from SARS saying that my audit is done after I submitted supporting docs. Then immediately after that the verification of assessment letter. It basically is very threatening and the tone of the letter is such that they were not too pleased with the documents submitted but they will clear the refund with no changes to the original assessment BUT, they then add the punchline that they can audit me at ANY time they so wish.

So if I return my IRP5 for tax return will I get something? for the money that I have been taxed

  Written by Marc   Posted 5 July 2013

- R5000 that I have paid for tax

Why am I paying lot of money for a year and when I return the IRP5 I get less than R200?

  Written by Marc   Posted 5 July 2013

Am paying at about R5000 yearly

SARS Return Status.

  Written by Marc   Posted 5 July 2013

What does a SARS status of "Return - Data submitted to ITS" mean. I already have a ITSA. Just wondering about the status.

No IRP5 for previous years?

  Written by Marc   Posted 5 July 2013

Thanks for a great site! My question is I did my return on the 2nd July and I'm due for a refund. My concern though is I have been working for - 5years but this was my first return. Is it possible that SARS can penalise me for not filing in the previous years? There are no other IRP5's loaded on my profile so how would I know if I would need to file for those years.

Please assist, thanking you in advance!

Medical Aid & Retirement Annuity for pensioners?

  Written by Marc   Posted 5 July 2013

I am a pensioner so I filled in my medical aid under Code 4040 R16 446.00.

I also filled in Code 4006 for a small Annuity I have R198 per year.

When I run the calculation I have to pay in an enormous amount for a Pensioner. Have I inserted the above under the right Codes?
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