No medical aid, medical expenses paid out of pocket

Posted 14 August 2013

Hi,

I don't belong to a medical aid, so I had medical expenses to the value of R21473.34 (kept proof of payments). I had income of R75485, and PAYE deducted of R2144. A refund of only R2144 shows on my IT34. It seems as if the medical aid expenses was not taken into account at all. Please explain?

ITSA query "AVS banking"

Posted 13 August 2013

I registered & submitted my ITR12 & submitted documents which I did, I got a Letter of Completion. I requested an ITSA which was sent to me instantly, indicating the refund payable to and that I am NOT under audit nor verification. My status = AVS BANKING. What is next?

Who is responsible for incorrect tax withheld calculation?

Posted 13 August 2013

I wanted to submit my SARS form on eFiling as I do every year. It said it can not be submitted because tax withheld was calculated incorrectly. I am now on pension and my IRP5 was submitted by my last employer. Must the employer rectify the mistake and resubmit my IRP5?
Thank you.
Annette.

VAT payable although the company has been liquidated?

Posted 13 August 2013

I'm selling my business property. The company has been liquidated and my VAT no deactivated. Must the buyer pay VAT over ?
Thank you Tim

Regards
Jan

How to reflect transfer of Pension Fund to Retirement Annuity on ITR12?

Posted 13 August 2013

Hello, Within the last tax year I changed jobs and in doing so had to transfer my pension fund from my former employer to my Retirement Annuity as my new employer does not offer a pension fund. On my ITR12 issued on e-filing I can see this lump sum pension fund amount reflected on a separate page with a directive number. Also I received a certificate from my Retirement Annuity institute reflecting my contributions for the tax year and this included the lump sum the I transferred.

My ...

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What happens if you can't pay the SARS penalties but can pay half?

Posted 13 August 2013

What happens if you owe SARS and have been told you have to pay within 6 months but you can actually pay half of the required amount only? I have been told to pay R 800 per month but have been managing to pay only R 400 instead. This is a penalty for not submitting in 2011, the penalty was R 4800.

I was never issued wth my IRP5 form so how do I claim?

Posted 13 August 2013

My employer didn't give me an IRP5 form so how do I claim tax return without it?

I have never filled in tax returns.

Posted 13 August 2013

Hi there,

Im looking to buy property later this year and my girlfriend says I need to start filling in tax returns. I have never done this before, always been sort of under the radar, but now starting to worry that I might get into some sort of trouble.

I do have a tax number, pay UIF and PAYE which all comes off my salary and I get my IRP5 forms yearly. I will be subscribing to TAXTIM to assist me from now on, but what if I somehow owe SARS a stack of money for never ever filling in the returns?...

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What are the tax implications for shares that have been sold?

Posted 13 August 2013

I am a pensioner over 65 and receive a pension from a living Annuity and a small income from interest (plus minus R5000 interest per annum). In March 2012 I sold shares that I received from Old Mutual and Sanlam many years ago. What are my tax implications and must I include this in my return?

Thanks

If I make R1m and give 30% to charity, how much tax do I pay?

Posted 12 August 2013

If you give more than 10% of your to income charity, do you pay both donation tax and income tax on the amount you gave to charity?

Due date for submission of IRP5

Posted 12 August 2013

When will it be the last day to submit my IRP5?

How to include sale of house and RA in the Statement of Local Assets and Liabilities

Posted 12 August 2013

ITR12 Query: Statement of Local Assets and Liabilities
1. Form states that Local Assets should be listed at cost. Does this mean the cost of the asset when it was purchased? I bought my house in 1974 for R19 000. Is this the amount I enter in the fixed properties block?
2. Should the current values of Retirement Annuities be included as an asset?

Must I deduct PAYE from a Namibian resident working in Namibia for an SA company?

Posted 12 August 2013

As a South African Company we want to employ a Namibian resident to work in a Namibian store for us but his income will be from us here in SA. Must he register as a tax payer in SA although he is not an SA resident?

How does having an investment policy help reduce my tax?

Posted 12 August 2013

With Old Mutual I have an investment. Can I claim this as a tax deduction?

R 7,000-00 once write off, what if 4 machines bought each at R 6,000-00 ?

Posted 11 August 2013

Hi Tim. Do I understand that the R 7,000-00 write value is a once write off for items less than R 7,000-00?

What is the situation then if I start my business with the simultaneous purchase of e.g. four lawn mowers at R 6,000-00 each. Total cost = R 24,000-00 but I may only write off a once R 7,000-00 ?

What then happens if six months later my business requires one additional lawn mower again at R 6,000-00, and e.g. two months a brush cutter at R 6,5000-00. What may then be written off, if anything?...

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Pay tax on R3600 pm?

Posted 10 August 2013

Hi, I work for 2 yrs I was earning R3600p/m before provident and UIF and was given an IRP5 once. I have been dismissed since March 2013, can I still claim for a tax return?

What do I do with an IT34 letter saying my assessment hasn't changed?

Posted 9 August 2013

Hi Tim, I submitted my tax and was asked to submit supporting docs, which I did (with your help, thank you!). I got a phone call a couple of days ago with a query, which I answered. Then got an email the next day saying there is a letter requiring my attention. On the site, the IT34 letter just says that my assessment hasn't changed but they reserve their rights etc. I think under Status (on the right) it says something like, "awaiting completion". What I need to know is, what do I do with this...

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I don't owe SARS but my company pays my tax

Posted 8 August 2013

Every month my company deducts my tax on my salary, but suddenly SARS mentions that I am owing them. I don't know, either the problem is me or it's my company?

How do I get my IRP?

Posted 8 August 2013

How do I get my IRP5 form if I didn't get it from my employer?

How can SARS assess me as being R80,900 in arrears when I pay PAYE each month?

Posted 8 August 2013

SARS sent me an SMS saying I have R80,900 in tax arrears. Although I'm registered as a provisional taxpayer, I also paid PAYE through my employer of R39,010.89, and then an additional payment of R44,000.00 three months ago (as am married in C.O.P. and my wife has an annuity income). Can you advise me how to go about finding out why they say I owe so much? I'm freaked out as I simply can't pay.

Will SARS pay interest for their delay? When will I get my money?

Posted 8 August 2013

Hi Tim, I submitted my IRP5 and supporting documents on the 11th July 2013. They told me it will take 21 working days for me to get my money but I have not received anything yet. Will SARS pay interest to me for their delay? When will I get my money?

Procedure to be followed to submit overdue Business tax returns

Posted 7 August 2013

What should I do to capture my business tax returns that are outstanding since 2006?

Employers medical aid contibution for over 65's

Posted 7 August 2013

Hi

How does an employer handle:-

1. Employers medical aid contribution made for an employee over 65? It is no longer a fringe benefit.
2. Employer pays both employer and employee contribution with no deduction from employee.

Many thanks.

Home Office Claims (Total Cost Calculation) Code 4028

Posted 7 August 2013

If I qualify to claim Home Office (Code 4028) expenses and I want to claim this, what is applicable? Note that I own the house and I have the square meters of both my office and my house. My office adheres to the criteria. My question is related to the claim amount.

Tax specifies: A- the area in m2 of the area specifically equipped and used regularly and exclusively for trade divided by B- the total area in m2 of the residence (including any outbuildings and the area used for trade in the residence) multiply by Total Costs the costs incurred in the acquisition and upkeep of the property (excluding expenses of a capital nature)....

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Do I still pay in when I received SMS from SARS saying they owe me after last return?

Posted 7 August 2013

Hi! Your website is very informative. I was requested to submit outstanding returns for last 5 yrs via telephone.
I however updated the returns and then was asked to pay a penalty of R12500. A few weeks later I received an ITSA- statement of account stating I owe R50 404-00. I however settled the amount as my wife received disability from her insurance. The collection department stated that I still owe them the penalty of R12500. The ITSA only reflects interest on late payment and no pen...

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