How to fill return with 2 company cars

Posted 30 July 2015

How do I fill in my return when I used to company cars within the tax year they were not leased

Do I write the total business lbs for each car or the accumulated business km?

Depreciation and travel expenses for commission earner without travel allowance

Posted 30 July 2015

I am a commission earner without a travel allowance but use my own vehicle for business. The company only pays for fuel. I have to pay for maintenance, installments - sales agreement, annual licence fees etc. Am I allowed to claim depreciation on my vehicle (code 4027) and what will be allowed under travel expenses (code 4015)? What records as proof must I have to claim under codes 4027 and 4015. Do I need to have a logbook?

Thank you

Does a courier service qualify as an independet contractor? What can be deducted from income earned

Posted 30 July 2015

I have a courier service company that is not registered yet. Does this qualify me to be regarded as an independent contractor?

Because my company is not registered, SARS advised that the company's income should be added to my salary income for tax purposes. Are there any deductions from the company that I can deduct when submitting my tax return to SARS?

Correction of IRP5 by employer

Posted 30 July 2015

The amount stated on my IRP5 for my Travel Allowance is wrong. My employer decreased my allowance without my knowledge and I've only picked up the error now. My employer says it's too late for them to correct it. I now can't claim the full amount of my travel expenses for the year.

Why can't my employer submit the correct figure to SARS and give me a new IRP5?

Vehicle depreciation rebate from SARS

Posted 29 July 2015

Dear Tax Tim. I currently earn a vehicle allowance from my company which I claim a rebate back from SARS according to the business milage that I have done. Is it possible to claim back a rebate for depreciation on my vehicle as well?

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?

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?

Can I claim toll gate fees?

Posted 29 July 2015

Can I claim toll gate fees?

What's does lease payments actually refer to?

Posted 29 July 2015

Under "travel claim against allowance" Does lease payments refer to the monthly car repayments I make to Wesbank?

Insurance & License fees question

Posted 29 July 2015

Another basic question . . . . Sorry! Just to make 100% certain, under "Travel claim against allowance" is insurance and license fees simply the total of all the insurance premiums I've paid for the tax year period plus license fees incurred?

Allowable deductions for Travel Allowance and medicine

Posted 29 July 2015

1) I receive a Travel Allowance for my vehicle, am I allowed to claim the costs incurred on services done? 2) I am on my parents medical aid. If I pay for pills etc not covered by my parents medical aid, can I claim these expenses?

Commision earning real-eastate agent

Posted 29 July 2015

What can I claim as an Real Estate Agent earning only commission ?

Request for surporting docs, but all I have in an IRP5

Posted 29 July 2015

Thanks for an awesome blog!!!!! Its the first time that I submitted for a tax return. I completed it a few days ago for the last 5 yrs. It showed that a refund is due for 2013 and 2014, but for 2014 they want supporting docs. Since I have no medical aid, travel allowance etc I submitted my IRP5's - is this all I need to submit and what are the chances of the refund amount changing etc?

Claims for commission-earner

Posted 28 July 2015

Hi Tim, I earn a set salary with commission and allowances such as travel and cell phone and a small portion of medical aid. 1. Can I claim back for the additional Gap cover I pay for? 2. Can I claim for my monthly insurance on my car? 3. Can I claim for my car license I paid for? I had been using a broker over the last 2 years and I see they never put in for any of the above. Nor did she claim for the service I paid for on my car? Please can you help?

Employer provided vehicle

Posted 28 July 2015

How is taxation calculated on employer provided vehicle? Should it be taxed monthly or do you calculate it when you submit your income tax return? Can you deduct fuel cost? Should a logbook be maintained?

Invalid codes 3713, 3801 and 3702 on IRP5

Posted 28 July 2015

I did not receive a travel allowance, but on my IRP5 there is R25,000 with the code 3713. Any travel I did for the employer I claimed back as a reimbursed claim. Is the R25000 correct? Additionally, there are codes for 3801 and 3702 which I believe are incorrect. Can you clarify what these might be for?

Do I qualify for Turn Over Tax?

Posted 28 July 2015

I am a salaried worker paying annual tax. I also do part time photography on weekends. Can I register my photography business for Turn Over Tax? My annual turn over ranges between R150k-R300k. I have read all the qualifying questions for Turn Over Tax and qualify, but the question is; Is photography deemed as a professional service? It is not listed specifically in the SARS professional services.

How best to set up my photography business with regards to taxation?

Posted 28 July 2015

Hello Tax Tim I work as an analyst full time; and in my free time I follow my passion for music and photography and take photos at festivals, clubs, pubs and other events. I have been building up a profile over the past few years of my work and now I have artists and their relative management agencies showing interest in procuring some of my images.

I have not registered a company yet, nor have I sold any images as I first want to ensure I set up my "business" and contract documents correctly so my clients and I are covered fairly and equally...

Read more →

3 work related expenses, where do I allocate them and how much?

Posted 28 July 2015

I spent R4 085.53 on vehicle maintenance tyres, 25/08/2014. I spent R25 748.85 on cellular bills, at least 60 to 70 percent of this annual bill was work related (14/15). I spent R5 553.44 on vehicle insurance for the year (14/15).

My question is, where would I associate these expenses to?

Is the widow`s pension suppose to be taxed?

Posted 28 July 2015

I always told that I am owing SARS because of my widow pension, can you advice because SARS does not know how much must be taxed from my widow`s pension as is not enough to be taxed.

Do I charge VAT?

Posted 28 July 2015

I am offering a service to a company that is in Durban for a whole week. My accommodation and transport costs are billed to the client. My question is that does the accommodation costs attract output VAT for my company. Do I charge VAT for the accommodation billed to the client?

Entertainment allowances exceeded

Posted 28 July 2015

If an employee receives an entertainment allowance in advance and he goes and incurs expenses over and above the allowance and keeps records of this, what happens to the additional expenses?

Car allowance for not owned vehicle

Posted 28 July 2015

I am receiving a car allowance as I am using my own car and am a sales rep. The car is not in my name, it's in my brothers name, but I am paying him an amount of R3200.00 per month. SARS requested me to send them the lease agreement or similar in order to complete my audit, what can I sent to them?
I also entered the cost price on my SARS eFiling as R150000 instead of R105000, how do I get that corrected?

Travel Allowance and take home pay

Posted 27 July 2015

Using your tax calculator, why is the travel allowance deducted from your take home pay? I understand 80% is included for your PAYE calculation, but your travel allowance should get paid out, unless the company pays costs on your behalf. What am I missing?

Use of motor vehicle - is 3802 the same as 3816?

Posted 25 July 2015

Used of a vehicle: Is tax treated the same for source codes 3802 and 3816?
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