Sequestration and Business Vehicles

Posted 13 May 2016

If I have been declared insolvent, can I still make claims against the business use of a vehicle if not registered in my name? For example, I make use of a vehicle registered in someone else's name, but I still make the payments as I am the driver of the vehicle for business purposes. Also, what if exemption was granted and I kept my vehicle, will I then still be allowed to claim against the use of my vehicle used for business even if I am sequestrated?

Severence package tax free amount

Posted 13 May 2016

I have received a severance package in the 2012 tax year. Were the tax tables in existence then and would I have gotten the R 500 000 tax free amount already.

Do I get taxed cancelling an Retirement Annuity when living abroad.

Posted 13 May 2016

I have emigrated to the UK and want to cancel my retirement annuity fund because of it. As I now live overseas, will I still be taxed?

Do you submit to SARS on clients behalf?

Posted 13 May 2016

Do you provide a service, whereby you do the submissions on my behalf, like what my broker does?

What tax will I pay on a second job?

Posted 12 May 2016

I currently have a job and paying tax monthly to SARS. Now I am about to get another job which will pay R3000 am I required to pay tax on this second job? How does it work. And can I use another bank account to get paid?

International transfers and disability income taxed in the UK

Posted 12 May 2016

I am living abroad and get a disability income from Discovery Life every month paid into my South African account. If I want to transfer the money over a UK bank account, how do I do it? Also, are there tax implications in the UK then as well as South Africa when bringing it in?

Non-Pensionable income

Posted 12 May 2016

May you please advise what is a non-pensionable allowance and how does it work.

How do I get a tax number when I am expecting a varying income from offshore investments?

Posted 12 May 2016

How do I apply for a tax number when I am expecting a varying monthly income by investments internationally?

Tax implications of UIF benefits

Posted 12 May 2016

I retired at age 65 during the course of the 2016 tax year. I claimed UIF retirement benefits which I received monthly (part in 2016 tax year and part in 2017 tax year). Will this UIF retirement benefit impact on my annual taxable income? Will I be receiving an IRP5 or IT3a from the UIF?

Tax on divorce settlement

Posted 12 May 2016

I would just like to know if I will be taxed on my divorce settlement?

Taxes for a R5000 part time job for foreign student visa holder

Posted 11 May 2016

As a foreign student, do you have to pay taxes on a salary of R5,000 per month. I am working 80 hours per month.

Can I net off rental income against my rent payments?

Posted 11 May 2016

I am receiving rental income on my primary residence and am paying rent to stay in another apartment. Obviously I need to declare the rental income but can any of the rental I am to paying out be set off against this income?

Am i due for a tax refund?

Posted 11 May 2016

I want to know if SARS owes me money

Tax calculation

Posted 11 May 2016

Tax applicable to monthly salary R29,024. 00 for a period from 3rd Nov'15 to 29th Feb'16

Tax Directive

Posted 11 May 2016

How long does SARS take to issue a tax directive?

After a tax directive is issued, how long can it take for funds to be paid into one's bank account?

Car allowance calculation

Posted 10 May 2016

How is the car allowance calculated if the car cost the business R165 000 (excluding VAT) when it was bought last year (tax year ending 28 Feb 2015) Purchase price did not included a maintenance plan and the employer expected him to use the car equally for business and private. Monthly value of the use of the car for tax is 3. 5% of VAT inclusive cost of the car.

Can I claim for medical expenses?

Posted 10 May 2016

Went on early pension at age 55 December 2014 after working for 27 years at the Goverment. Receive every month a pension amount. Can I still claim medical costs paid by me.

Can I get a tax refund?

Posted 10 May 2016

In 2014 I was working on campus, and I recently found my payslip from 2014 December showing that I had earned a gross payment of 6540, whereas I only got paid 4340 in my bank account... Could this mean I was taxed? and is it still possible to get refunded?

How much tax for R100,000 sign up bonus?

Posted 10 May 2016

I joined a company which agreed a sign up bonus of R200 000 of which 50% (R100,000) would be paid in first month. And this sign up bonus is taxable, so how much tax would be deducted on my first payment of R100,000?

Does SARS have a right to deduct from my salary for SARS debt related to previous employment?

Posted 10 May 2016

Does SARS have the right to take money from my current employer for my previous employer SARS debt?

Tax return help

Posted 10 May 2016

I'm new to all this tax return issues. I do pay my tax every month. I just want to know what the process is when doing a tax return. Please advise.

Can TaxTim update my banking details at SARS?

Posted 10 May 2016

I am unable to go to SARS to update my banking details etc Can TaxTim do that for me?

Can SARS hold a vendor liable for VAT prior to being registered?

Posted 10 May 2016

My B&B started trading in Aug 2015, it's year end is Sep so the first set of Annual Financial Statements will be dated Sep 2016 (14 months). Our management accounts dated April 2016 reflect our revenue is already around R650,000. We are not yet registered for VAT but we'll be doing so very soon. My concern is do we now have to register, submit and pay all the VAT from Aug 2015 to current, OR do we just register, submit and pay from now going forward? I read somewhere that according to the VAT Ac...

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provisional tax due

Posted 10 May 2016

I am now an au pair. Dont know if I need to pay tax. I am getting a monthly salary of R7000. However if the family go on holiday I do not get paid. I also do not get paid on a specific day. Will be before or just after the last day of the month. What must I do?

CGT on primary property worth less than R2m

Posted 9 May 2016

My mum (78 years) wants to sell her house (market value is R1,7million) due to her deteriorating health, she can no longer stay on her own now, what are the the tax implications? Property was purchased in 2008 for R1,1million
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