What are those supporting documents that I need to submit

Posted 8 October 2015

I have received an email from SARS saying my income tax has been identified for verification and I must submit my supporting documents on my SARS eFiling. What are those supporting documents that I need to submit, if I don't have invoices,medical certificate or travel book. Is it the IRP5 still a supporting document?

Did the employer calculated my PAYE correctly?

Posted 8 October 2015

Please assist with these calculations:

I earn 31650 pm = 379800 pa (no other benefits). On resignation an amount of R14240. 31 was due to me for leave days. A further bonus amount of R28 485 was to be paid plus R 1360 for travel claim. My payslip reflects a PAYE amount of R20691. 76. Is this correct? I think the employer got it wrong.

Business travel expenses for individuals vs. businesses

Posted 7 October 2015

Hi Tim, I'm considering taking a contract position. I live in Durban and the position is in Johannesburg. Which means I will be commuting weekly to Johannesburg and spending the weekend in Durban with my partner. Including the travel expenses and extra accommodation in my hourly rate drastically increases the tax that I will have to contribute, which means the opportunity is not that lucrative. I end up losing. Would it make more sense for the business to cover the cost of my weekly flights and ...

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Calculation of PAYE

Posted 7 October 2015

Calculation of PAYE. Earnings include allowances(standby, acting, travel and cellphone). UIF, medical aid and pension fund are deducted.

I am paying to much tax, what now?

Posted 7 October 2015

I did the tax calculator and my company is subtracting 5 times the amount of tax that I should pay from my salary each month. When I asked them About it they said they have a system that works it out and didn't want to help me. What should I do now?

What are the requirements to claim vehicle depreciation?

Posted 6 October 2015

What are the income requirements to claim vehicle depreciation?

If commission forms about 25% of my yearly income, and my vehicle is used extensively to travel between clients (core part of the job), can I claim depreciation of my vehicle against my income?

I don't receive any travel allowance or fuel etc. I keep a logbook and can prove travel % to work/personal. Thanks.

Travel expenses self-employed

Posted 6 October 2015

If I am self-employed - how do I claim for travel expense when completing my Tax tax return?

How much tax is required if you earn R17500 per month

Posted 5 October 2015

What is tax figure if you earn R17500 monthly and you contributing R810 provident fund

Retirement Benefit of R500,000 Tax free

Posted 5 October 2015

How do I take advantage of the R500,000 tax free portion AT RETIREMENT? I was retrenched at age 54 and paid full tax on my retrenchment lump sum. Now that I am 56 and would like to retire on the funds in my pension preservation fund, I do not understand why the tax directive on the first R500,000 from my preservation fund was taxed. I have NEVER retired before so I should have the full R500,000 tax free ON RETIREMENT?? Numerous calls to the SARS call centre have me confused between benefits at ...

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Pension fund reflects payout but it was moved to a preservation fund.

Posted 5 October 2015

When I left my previous job I moved my pension fund to a preservation fund. I did not do my 2014 taxes and now when I go on SARS eFiling my IRP5 seems to reflect that I was paid out the money from my pension fund. I'm not sure what I'm supposed to do now. Would signing up for your service show me the steps I need to deal with this on my 2014 tax return?

Deduct home office expenses with split income streams and no IRP5

Posted 5 October 2015

I work from home - part time as a contractor for a US-based company, and part time for a South African private company of which I'm one of the shareholders / directors. I earn a regular monthly salary from the foreign corporation, but they don't issue an IRP5. I also bill my local company for my time, but irregularly, and often this income is put into a director's loan account rather than paid out in cash. The local company did not issue me an IRP5 for 2014. How do I declare my income in such a ...

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Do I have to pay tax if I earn R6000 basic commission?

Posted 30 September 2015

Hi, I would like to know how do I get taxed if I get paid a basic salary and commission? My basic is R6000 and get commission of 10% on each services after I have made over R10 000. Please help!

How do I submit 2007 return without documents?

Posted 30 September 2015

SARS is requesting that my husband submit a 2007 tax return. However, he was only working certain times during that tax period (as a freelance contractor) and has no IRP5. He contacted the company he worked for as well, and they have no record of a IRP5 as well. What do you advise him to do now if he has no documents for that tax period? He may be able to get a record of his retirement annuity contributions, but that is all.

As a sub-consultant should the company I do work for deduct tax?

Posted 30 September 2015

What is the difference between a sole proprietor and sub-consultant. I am a sub-consultant and work on an hourly rate. My income is not the same every month. I use the companies' offices from time to time. I have been a sub-consultant since August 2015. The company deducts tax from my monthly income and will provide me with an IRP5. My question is should they deduct tax?

Can I claim travel expenses without having a travel allowance?

Posted 30 September 2015

Can I submit a travel log book with my tax return if I do not have a travel allowance and if my commission is less than 50% of my monthly income?

Car Deductions on Commission

Posted 29 September 2015

Hi Tim, I am a Commission earner and I claim back on my vehicle usage on depreciation and logbook. When I claim back on my car usage, I keep a logbook as well. But my question is, can I claim back on a paid up vehicle? or do I have to still be paying monthly towards finance. Does the finance amount help with increase my tax return from SARS. Eg if im paying R2500 or R2000. Which will yield a higher tax return?

Depreciation for Commission Earner

Posted 29 September 2015

Hi TaxTim, I have a lot of questions lined up. I hope its ok. The first one. I am a commission earner and claim back usage of my vehicle for business use. 75%
when calculation deprection over the 5 year straight line method. When does this begin? when I took ownership of the vehicle? or when the vehicle was registered?
2. I bought a vehicle in 2011 and only starting working on commission in 2013. When does my depreciation stop on this vehicle? 2016? or 2018?

Calculation regarding lump sun withdrawal benefit?

Posted 28 September 2015

How does the calculation work regarding lump sum withdrawal benefit (3920) from Sanlam Life Insurance Ltd and is the any deduction on that amount?

Can a sales representative claim on car installments?

Posted 28 September 2015

I just started a new position as a sales representative, and the car I am currently using is quiet old. As I will be travelling a lot to see clients I would like to buy a new reliable car. Would I be able to make a claim on the monthly installments for this new car, as it will be used mainly for work? If so, what percentage can I claim?

How do I dispute an Additional Assessment issued by SARS that is not correct?

Posted 27 September 2015

Hi Tax Tim

I am very pleased with the work that you are doing here. Keep up the great work!!!

I submitted my tax return to SARS about a month ago and they selected me for verification/an audit because I had a refund payable to me. I submitted all the documentation they required (logbook, receipts etc), but they have recently responded with an addditional assessment stating that I owe them money - which cant be the case, as I am a 100% commission earner (with no basic salary) and I dont have a tax directive...

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Request for Supporting Documents but I have not been employed for 3 years

Posted 27 September 2015

SARS is asking for supporting documents related to my tax return but I have been unemployed and living abroad for three years! I don't have any of the documents they are requesting. I still pay provisional tax and submit that tax return dutifully. I read that I must swear an affidavit at a police station but I am currently not in the country and won't be back for several months - they need these supporting documents in 21 days. What must I do? (I did email them, asking them what to do, but they ...

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Can I claim a fixed cost travel deduction if I receive a reimbursive travel allowance?

Posted 24 September 2015

I am needing to do tax returns going back to 2010!! If I received a reimbursive travel allowance (reflected under code 3702 on my IRP5), can I claim a travel deduction based on the fixed cost method?

Employee or consultant - whats easier/more economical

Posted 23 September 2015

I run my own CC and have been offered a part time position at a previous company I have worked for. Would/should I let my employer pay on my behalf, or would it be better to invoice them as a consultant and pay my own tax. During the time I will be employed I will also be invoicing out other clients through my CC.

If the company my husband works for is liquidates. How does his provident fund payout work?

Posted 23 September 2015

If the company my husband works for is liquidates. How does his provident fund payout work. He has been with the company for 25 years and the total amount in the "kitty" both portions is R2 800 000. How can we work out how much we will actually get out if they liquidate. Can we apply for a tax directive?

How to declare additional income for freelance work done locally?

Posted 22 September 2015

I did some freelance web design work on a once-off basis for a local company, how should I declare this income on my tax return?
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