We want to sell our property in our CC? What are the tax implications?

  Written by Marc   Posted 1 July 2015

Our CC has a property under its name which we currently reviewing a OTP for it. The CC has been dormant for the pass 10 or so years. What will be the tax implication on this Disposal And how can it be worked out?

Lumpsum tax

  Written by Marc   Posted 1 July 2015

I am going on early pension and comuted one third as a lump sum payout. What tax will I pay.

If earning money privately, from what value must you declare to SARS?

  Written by Marc   Posted 1 July 2015

I am thinking of doing some management consulting, after my normal working hours. I am hoping to earn approx R 10 000 per month. When do I need to declare this to SARS / or at what value? Do I have to register my company, as i'm not sure if this will be a permanent thing.

Donation, tax payable?

  Written by Marc   Posted 1 July 2015

My brother wants to give me 100 000, he lives in Singapore. Do I have to pay any tax one this?

Is it possible to apply for 5 years tax return?

  Written by Marc   Posted 1 July 2015

I haven't claim my tax return since 2010 so is it possible to get all that tax back?

Amount that didn't cover by medical aid?

  Written by Marc   Posted 1 July 2015

I have a huge amount that didn't cover by the medical aid. And I only paid quarter of that money, when doing eFiling must I put whole amount that didn't cover by medical aid or the one that a manage to pay.

Do I need to apply for a tax directive for my earnings received (private company)?

  Written by Marc   Posted 1 July 2015

Is a tax directive necessary for my consulting firm - I have a private company with 1 employee (myself). I provide consulting services through another IT firm to their clients. I provide the firm with a Sales invoice for hours worked etc at the end of every month. They in turn pay the full invoice amount. I pay myself a fixed salary (PAYE & UIF deductions included) through my business. The remaining amount is profit to the business where we're liable to pay company tax (usually around 7% turnove...

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Should I have a tax number first in order to register for turnover tax?

  Written by Marc   Posted 1 July 2015

We registered a CC a few years back, but we never traded on it. We would now like to get the business up and running, although our turnover will be very small during the first year. I understand that we may qualify for turnover tax, but my question is, should we first have to register for normal tax (i. E. Get a tax number) before we can then register for turnover tax, or can we just register for turnover tax from the start? We never got a tax number after we registered the business originally...

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Changing jobs for taxes?

  Written by Marc   Posted 1 July 2015

How will SARS know that I changed jobs? Apparently you get a return if you changed jobs but it's not formed part of the calculation? How does this work?

Domestics child's education

  Written by Marc   Posted 1 July 2015

I donate/pay for my Domestics child's education. Can I claim it back?

Sars Disablity and Threshold

  Written by Marc   Posted 30 June 2015

I earned R254000 for the 2014-2015 tax year. My son is "disabled" and I am able to claim for qualifying disability expenditure. I see now that you need not submit a return if you earn least than 350000 for the year, however, as I am to receive a refund due to my son's status I want to submit. Why is sars doing this? As to avoid paying refunds to us lower echelon tax payers?

CGT on Property sold by family trust

  Written by Marc   Posted 29 June 2015

How do I calculate Capital Gains Tax on a property owned by our family trust?

Will I be taxed on my foreign income that I send to my SA bank?

  Written by Marc   Posted 29 June 2015

I currently work abroad (temporary- for a few years, and am a citizen of SA only). I pay income tax here where I current reside. I have no income from SA. When sending money from my overseas bank account to my SA bank account to pay any SA expenses (bills, elderly care for parents etc. ), what is the best reason to give the bank so that when they report it to SARS, I am not taxed on it again. Both bank accounts (here and in SA) are in my name.

3 X IRP5's, JOB CHANGES, SARS REFUND?

  Written by Marc   Posted 29 June 2015

I have resigned from a job "A" and started a new job at "B", things did not work out as planned at "B" and I ended up returning to my old job at "A" after 6 months, I now have 3 IRP5's for tax year 14/15. Does SARS combine all (gross non retirement income) and (paye) tax from all 3 IRP5's and calculate a return amount from the totals. In other words " reflects on IRP5 non retirement income paye paid
...

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Casual laborer question?

  Written by Marc   Posted 29 June 2015

I am wondering if you can help me, I have been a casual laborer from October 2013 until the beginning of June 2015. I just got a sms saying that A penalty assessment notice has been issued on SARS eFiling for me, I have been earning less than R1500 a month from October 2013 until August 2015,then I was paid R3000 a month but only for four months and I have not been paid a salary from December until June 2015 I would get about R300 a week from my employer and sometimes I wouldn't get any money so...

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Interest deduction?

  Written by Marc   Posted 29 June 2015

I run a part time business from home that earns me commission and a car allowance. The expenses I occur monthly is home based eh. Telephone. Internet etc. I currently have a personal bond on my house. Can I claim the interest portion of the bond as a deduction as I use my home to earn commission? Thanks.

Am I gonna get tax refund?

  Written by Marc   Posted 29 June 2015

I worked for 4weeks and I was getting paid weekly and I was also paying PAYE maybe R350weekly so I'm asking if I'm gonna get tax refund?

Calculation of gross retirement funding on my IRP5?

  Written by Marc   Posted 29 June 2015

How is my gross retirement funding income of my IRP5 calculated if I joined the pension fund during the lat month of the tax year?

How to fix a tax return if you clicked ok when asking if you are deceased or immigrating?

  Written by Marc   Posted 29 June 2015

My hubby went onto eFiling today 25th June (forgot tax returns only open 1st July) and when he tried to bring up his returns issued for 2015 a pop up asked to confirm if he was deceased or immigrating, he clicked ok (by accident) and got a return but hasn't submitted it. Can he after the tax season opens go in and request a new return and file that one and it will be corrected?

I've lost my IRP5 what must I do help?

  Written by Marc   Posted 29 June 2015

I've lost my IRP5 before submitting what must I do please help.

Who gets tax return?

  Written by Marc   Posted 29 June 2015

Who qualify for tax return?

Would a R3000 per month ongoing payment to me from my son ave any tax implications?

  Written by Marc   Posted 29 June 2015

I am 68 years old. My son has offered to gift me R3000 per month on an ongoing basis to help me out with my living costs. Will this have any tax implications for either him or me? Do either of us need to declare this amount on our tax returns?

Who was I paying tax to?

  Written by Marc   Posted 29 June 2015

I have been working on a project for the past 3 months, the company has been deducting tax from my salary, now when I check with SARS I found out that I have not being paying income tax during the 3 months period. Is this fraud by company? Or is they another explanation of where my tax was going to.

Can I claim a rebate here?

  Written by Marc   Posted 29 June 2015

I personally pay the 100% contribution for my wife and two kids to be on medial aid. She is the primary member. I do not belong to any medical aid. Can I claim a rebate.

I don't have an IRP5, but I earned income - now what?

  Written by Marc   Posted 29 June 2015

I have been working as a guide in the tourism industry for the past year or two. I did not get a payslip just money paid into my account, I also get cash tips from time to time. I have a tax number as previous I worked in the bigger company. How do I go about paying outstanding tax if there is any without getting trouble from SARS?
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