How much PAYE deducted from a monthly salary of R8000?

Posted 25 September 2013

How much PAYE would be deducted from my salary if I earn R8000?

How to file a notice of objection on SARS efiling

Posted 25 September 2013

How do you file a notice of objection on SARS e-filing?

What is the exchange rate for foreign currency (DRC Franks)?

Posted 25 September 2013

I got paid in DRC Frank. How can I convert it to Rands ?

How to switch practitioners to TaxTim

Posted 25 September 2013

What are the necessary steps required to move my tax concerns from my current tax practitioner to TaxTim?

Corrections on returns

Posted 25 September 2013

Hi Tim

Can I get into trouble with SARS for a mistake on my return? Even if that mistake was an honest misunderstanding and I have submitted a correction.

Also, how many times can you submit corrections?

Thanks,
Elizabeth

How to read negative refund amount in assessment

Posted 25 September 2013

Hi TimMy assessment letter says "Net amount refundable under this assessment after allowable creditsCompliance"and then shows a negative amount. Technically this would mean I owe SARS as a negative 'refund' means the oposite of a refund but I am not sure what they intend it to mean.What should I take this to mean?Thanks!

What the amount I am allowed to earn per year with my pension? I am over 70.

Posted 23 September 2013

I am 73 years old and cannot live on my pension so I have gone back to work. How much am I allowed to earn to be exempted? Is there no exceptions for the people over 70?

Tax on income working permanently in the UAE and declaring of such.

Posted 23 September 2013

Hi Tim,
I left SA on 1/9/2011 to take up a permanent employment in UAE, with a UAE company. I also took up residency in the UAE. I sold all my fixed assets in SA, except for my primary residence, which I left for the children to complete their university studies from. I didn't have any intention to return to SA and wanted to relocate elsewhere, after my pension. Unfortunately I was retrenched w.e.f. 10/12/2012 and I returned to SA on 18/12/2012. I visited SA in Nov 2011 for 10 days in Oct 2012 for 5 days. I only started to earned an income in SA in February 2013....

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How do I get my tax back when unemployed?

Posted 23 September 2013

How can I get my tax back because I don't work at this moment. How can I do it?

Tax efficient business type for share traders

Posted 23 September 2013

If one were trading JSE shares full time, which would be the most tax efficient business type to trade under, and why?

How do I submit my irp5 online?

Posted 23 September 2013

How do I submit my irp5 online?

Nil return charged?

Posted 22 September 2013

Is there a "fee" that SARS charges if you fill in a nil return?

How to upload copies of documents onto SARS eFiling?

Posted 22 September 2013

I do not know how to upload my copies.

Birthday cash money gift. What to do with tax?

Posted 21 September 2013

Every year I get around R35000-R45000 as a birthday present depending on how generous my extended family is feeling. This never used to be a problem when I was younger as I just used to go out and spend it, but now as I'm getting older I would like to save this money.

My question is if I had to deposit this gift money into my account would I have to pay tax on it?

Car Allowance - Available deductions and Documents required

Posted 21 September 2013

My salary was structured in such a way that I have a car allowance of approx R5,5k and my contract states that due to this allowance I will be required to use my personal vehicle for company purposes. The company however includes the full allowance as 100% taxable income - and that my annual tax return will determine the actual taxable portion.

My question is - how will it be determined and what documents do I need to keep in order to have any available deductions? Please note that...

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Do I submit via TaxTim and again via e-filing?

Posted 21 September 2013

After completing the TaxTim tax return forms and paying R199.00 I was directed to a page saying that I had to submit again via e-filing? Don't know what to do here? Do I complete more forms and submit again?

Does "Gross salary" for PAYE include subsistence allowances, car allowances etc?

Posted 21 September 2013

What components make up "Gross salary"? Would things like subsistence allowances (local) and car allowances be included?

What is SDL tax?

Posted 21 September 2013

What is SDL tax and how is it calculated?

Closing date for submission of IRP5 2013

Posted 19 September 2013

When is the closing date for submitting IRP5 forms?

How to claim travel expenses without a logbook

Posted 18 September 2013

Is there another way of claiming for travel expenses if you don't have a log book?

How to highlight neccessary information for SARS on bank statements

Posted 18 September 2013

Hi Tim
SARS is asking me for supporting documents, can I give them bank statements as supporting documents as I lost most of my slips, if so how do I indicate the relevant information on the statements?

Depreciation and tax life of a dragline bucket?

Posted 18 September 2013

What is the deduction Interpretation Note 47 for a Dragline Bucket?

How do I submit to SARS?

Posted 18 September 2013

I have never submitted my IRP5 since I started working in 2010, how do I go on about returning them with E filling ?

Tax on Bonuses and Medical Aid and perks

Posted 18 September 2013

1. How is bonus taxed?
2. Is my portion of Medical Aid taxed? Is it a perk?

Parents over 80yrs old, income of 350K/yr from rentals, do they need to pay tax?

Posted 18 September 2013

My parents are over 80. The only income they enjoy is from 5 rented cottages on the property where they collect on average ZAR 6000/month. This equates to a total income of around ZAR 350K/yr. They claim they do not need to pay tax on this nor need to complete a tax return!? Is this true?!

They are cashed up, do not have or service any debt. The only significant asset they own is the single property on which they both live and rent the cottages out.
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