Do I need a logbook for aTravel allowance?
Posted 11 September 2013
If receiving a fixed travel allowance is it necessary to maintain a logbook?
What do you do if TaxTim refuses to show the student mode with a green tick?
Posted 10 September 2013
What do you do if TaxTim refuses to show the student mode with a green tick?
Where do I show calculations for student assignment?
Posted 10 September 2013
Hi there,
Where am I suppose to put the calculations for my figures? Our lecturer mentioned that we should show all calculations but im struggling to find a place to put them.
Many thanks
Siphesihle
Registration of employees for tax or PAYE?
Posted 10 September 2013
Hi Tax Tim
Do I need to register my employees for PAYE or for tax as they received only R3300 per month? How do I go about registering them for tax? What documentation do I need and do I need to go to the branch to fill it in?
There is nowhere to list my deductions as a self employed business owner
Posted 10 September 2013
I am filling out the tax return and despite having said Yes to being a provisional tax payer it is asking me questions relevant only to an employee, such as do I have a company car etc and keeps referring to my IRP5, which obviously I don't have, being self employed.
Has something gone wrong, am I filling in the wrong form? Where do I list my deductions, of which there are many?
How to fill in your Tax return with two sources of income, but no IRP 5?
Posted 10 September 2013
I do work for a research group but am not formerly employed by the research group at the university. I am listed as a vendor and get paid for things I do for the group. Effectively as a supplier of things I make.
So how do I fill in my tax form since I am in the tax threshold. I do not get a IRP 5 since I am not employed by them. I also received a pay out of a fund that I had from my previous work and it shows up in my form as an employer.
Now I would like to know how do I go about to fill in my form as I am receiving income but do not know what code or where to put it in the form. ...
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Travel allowance back up docs
Posted 10 September 2013
Hi TaxTimWhat kind of back up documentation must one hand in when you have a 3701 and 3702 code on your IRP5?Regards
Hi Tim, is code 3715 on my IRP5 claimable from SARS?
Posted 10 September 2013
Hi Tim, is code 3715 on my IRP5 claimable from SARS?
How do I change e-mail adress on my student registration details?
Posted 10 September 2013
I am a student. How do I change my email address on my registration details?
Refunded but still owe SARS money?
Posted 9 September 2013
I got a refund last year (2012) and went into SARS and they did my submission for me. I phoned SARS to see how to report my previous company as they have not let me have my IRP5 form as yet (it was due by July 2013). I was then informed that I have a recurring penalty of R 13750.00 due to 2007 and 2011 not being submitted.
Surely if I owed them any money they would not have released the refund for 2012? I really need help with this as I am pretty confused.
How long will it take to be refunded after resubmitting my tax return?
Posted 9 September 2013
Hi Tim. I submitted my tax returns and did not claim on my travel allowance, now SARS sends me an SMS stating I owe R8750. If I were to resubmit and claim on my travel allowance, how long will it take for SARS to refund, and what's gonna happen on the amount they say I owe? Regards Themba
Personal Service Provider
Posted 8 September 2013
Hi Tim
1. I am starting a company and it will be a Personal service Provider. I know tax has to be withheld at 28% by my client. What I don't understand is whether the 28% is a flat rate or does the tax payable get recalculated when I submit my ITR12?
e.g.
Say I earn 20000 a month X 28 % tax = 5600 . Tax payed for the year = R 67200.
However if I was taxed as a regular employee my tax would have been = R 37,359.75
Will SARS pay me back the difference?
...
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Can individuals doing community service claim tax back for HPCSA registation fees?
Posted 8 September 2013
Hi Tim, I was a Community Service psychologist for the tax year 2013. Can I claim my HPCSA fees back and the money I have spent on professional development (obtaining CPD points)? I know permanently employed people cannot claim this back. But would the same apply to community services, as we are still considered students and we are employed on a contract basis?
Kind regards
Kelly
Vehicle tax benefits for CC or Pty company
Posted 8 September 2013
What are the tax benefits of leasing a vehicle? The lease amount is R4 000 p/m and it's for 36 months. Should I rather get a single cab bakkie and claim the VAT back on that? I own a few restaurants, so it would be for picking up emergency stock and the company logo will be displayed on either vehicle (if that makes any difference).
I own a cc and a pty(ltd), is there different tax benefits for them?
Taxable Settlement agreement?
Posted 5 September 2013
Hi Tim,
Last year (this financial year though) I left a job and had a settlement agreement with my ex-boss for outstanding monies for overtime as well as for medical expenses as a result of my work. We have had no contact since the settlement. When going to file at SARS I noticed he has included the full amount as income on my IRP5, where as only a small portion was for income and the rest to cover my medical bills. Am I correct in thinking that I am not liable for income tax on the S...
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Do you need to supply an IRP5 for freelance workers?
Posted 5 September 2013
If we have a freelance guide that worked for us for a number of days in the year and they get an agreed payment from us (example of R 650 per day) and we do not deduct tax for this. Do we need to supply them with an IRP5? Take note that this person is not an employee of this company.
How will tax be calculated after I leave my job?
Posted 5 September 2013
Hi Tim
I am over 45 and have 20 yrs service with the state. I'm planning to exit. How will my tax be calculated?
SARS: Verification of Assessment
Posted 5 September 2013
Hi Tim
I submitted my return via efiling on 16 August 2013 and received notice to submit supporting documents which I did on 21 August 2013. It was confirmed that the supporting documents were in order. On 3 September 2013 I received SARS correspondence for my attention on efiling. When I logged in my efiling status is "Correction filed" and the description of the letter is "Completion letter". The contents of the letter is as follows:
"Dear Taxpayer
VERIFICATION OF ASSESSMENT...
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Incorporated versus sole prop for a new business
Posted 4 September 2013
Hi Tim. I am about to embark on a new venture and start up my own business. We are bound by various rules and regulations as per the HPCSA and are only able to practice in an incorporated or solus practice. I am feeling very unsure as to which is the best option tax wise? The gross monthly income of the practice is expected to start off at and vary between R30 000 and R50 000 per month. I will not have any partners or permanent employees. I work from home 50% of the time and am onsite (travellin...
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Income tax numbers for employees
Posted 4 September 2013
Hi
Tax season is here again, and we had a whole lot of staff who left and we did not get their income tax numbers. Is there a way that we can get it?
New to tax, what taxes must I pay and how?
Posted 4 September 2013
HI
I'm new to the tax paying thing, and want to know, I have just started working earning R17000 and want to know what taxes my work should be paying and what I have to pay or submit or.... with the help of Tim of course :-)
Thanks
Regards
Pascal
Claiming for medical expenses paid out of personal savings account.
Posted 4 September 2013
I did not have a fixed monthly income for the tax year ending Feb 2013. My medical expenses were covered from my personal savings account. I incurred medical expenses; can I still deduct the medical expenses paid from out of my private savings?
I haven't been paying tax since starting work (5 years). What are the implications?
Posted 4 September 2013
I have been working since 2008 and earning enough to qualify for tax but I am not a registered taxpayer. Will I be liable to pay taxes for all those years I have been working till date, as I plan on registering for tax to avoid any more repercussions?
No payment reference number for SARS payment?
Posted 4 September 2013
How to get my payment reference number if I had not received my postal statement?
Working from SA, being paid in UK
Posted 4 September 2013
Living and Working in South Africa remotely to UK (IT).
Hi Tim
I lived in UK for 5 years and returned to SA in 2010. I have dual nationality (German and South African).
I have been working in SA for a local company since 2010 earning rands. I have now been approached by my previous employer in UK to work for them again remotely from SA.
If I am paid by them in pounds into my UK bank account where will I pay tax and will have have to bring in all my earnings to SA or can I only bring in what I need?...
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