Purpose of provisional tax?

Posted 17 May 2015

What is the purpose of provisional tax?

Sport massage therapist enquiring about tax refund?

Posted 11 May 2015

I own a sport massage business. I am therapist/bookkeeper/secretary. What are my first steps towards tax payment and or refund? I earn R6000 per month.

Due date for provisional tax submissions for company year end other that February year end

Posted 11 May 2015

Hi there. RE: Due date for provisional tax submissions We have a company with a June year end. I know that the first provisional is due for submission 6 months after the year end of the company, which is 31 December. Please advise what the second provisional due date is? Is it 30 June the following year?

What is the maximum amount a pensioner can earn from investments to avoid provisional tax?

Posted 21 April 2015

I am 73. I earn a pension of R237600 pa before tax. I get rental income on investments of R15000 pa. Do I have to pay provisional tax?

UK FUNDS RECEIVED MONTHLY HOW DO I LESSEN TAX IMPLICATIONS?

Posted 21 April 2015

I am a full time employee in South Africa but do part time work after hours for a solicitor in the UK - she pays me £300 per month which equates to about R5600 per month (depending on exchange rate). How can I lessen the tax implications on this amount? Do I need to pay tax on this amount and declare it as a additional income on my return?

Calculation of tax credits for medical aid contributions?

Posted 6 April 2015

How does one calculate the tax credit for medical aid contributions for persons over 65. I would be grateful if you could answer with an example. Thank you

Procedure to follow for a company that never traded, never filed annual return, in need of tax clear

Posted 29 March 2015

I incorporated a company in September 2014, it has never operated since then and never filed an annual/provisional tax return, now I am in need of a tax clearance, could you kindly advise if it is permissible to file the tax return with zeros now in 2015(end of February)depicting it as the 01 provisional payment given that the company never traded and never filed a return.

Provisional tax for less than R5000 income - what do do for SARS?

Posted 11 March 2015

I just registered a company and we might make income of less than R5000, do I have to submit provisional tax? Financial year end is February.

I would like to know how to complete a nil return via eFiling?

Posted 6 March 2015

I am doing some admin work from home and have been paying Provisional Tax for the last 3-4 years. Twice a year someone has been doing my tax return via eFiling for me. I realize now that I don't earn enough to even complete a tax return. To be on the safe side I want to complete a nil return but am not sure how to do it. I don't want to ask the same lady to do the nil return for me because she will charge me . I would like to know how to do it myself because it is now due.

Deferred payments with SARS?

Posted 4 March 2015

Can SARS impose the 10% late payment penalty when the taxpayer has requested a deferred payments arrangement? This would be in relation to provisional tax period 2015/02.

How do I pay my provisional tax by electronic bank transfer through ABSA?

Posted 28 February 2015

How do I pay my provisional tax by electronic bank transfer through ABSA?I tried today, but the ABSA list of registered institutions says "instelling rekening nommer: nie beskikbaar nie"

Provisional Tax Deadline was Missed, couldn't get IRP6 registration in time.

Posted 27 February 2015

I'm sort of new to provisional tax (couple of recent months) and I was aware that I need to be submit a return by end of February. The one thing I didn't know is that I need to register for (IRP6) before I can submit one. Always saw it online on eFiling and figured it would work as normal (Income Tax section) and never tested the "functionality" so I did ask for a request to register but as it turns out I didn't get it in time. . . So I was wondering what options do I have? Can I get an extensio...

Read more →

My company is registered last year October I want to know when must I start make tax returns?

Posted 27 February 2015

I register my company last year I want to know when must I start to make tax returns ?

Do foreign nationals working fulltime with part-time work declare tax for monies paid?

Posted 27 February 2015

I am a foreign national on a work permit currently permanently employed and also want to start free-lancing/consultation work. I have had calls from companies/businesses needing my skills and I decided to register a company in my name at CIPRO. The issues are I need a business permit to open a bank account and then register at SARS but this is a huge mountain to climb due to the "unfavorable" requirements required by Home Affairs. If I go ahead with this work whilst I work on my busine...

Read more →

Do I need a log book for a sole proprietor

Posted 27 February 2015

Hi Tim, I am a sole proprietor and have a question about deducting my vehicle and petrol for business use. Currently I am deducting 70% of my vehicles monthly installment as well as 70% of my fuel costs from my taxable profit. However I have not been keeping a log book, the 70% is an estimate which in my opinion is a bit lower than my actual business use. Almost all my mileage is for business use. Could I get in trouble for this? Do I need to keep a logbook? If ever asked by sars I could give a ...

Read more →

What period does the IRP6 submission, that is due on 27 February 2015, cover?

Posted 23 February 2015

What period does the IRP6 submission, that is due on 27 February 2015, cover? Is this from 1 March 2014 until 30 June 2014?

How to register student, doing part time modelling, with SARS

Posted 22 February 2015

My daughter has started a part time modelling career. She is 15 years old and still in school. Do I register her as a normal individual tax payer with SARS, she will be a sole proprietor. There will be
expenses deductible for tax purposes.

Are computer components (CPU, RAM, etc.) considered to be "part of a set"?

Posted 20 February 2015

Regarding the writing off of assets under R7,000 in value, you mention here[*] that the items must not be "connected" to one another or form part of a set. I purchased 6 items this year (CPU, SSD, Case, PSU, RAM, M/board) [in 2 transactions] in order to upgrade my PC (used for work purposes). Are these items "connected" to one another / do they form part of a set?

The total amount was about R7,671. 16 ?%u20AC%u201C which means that I can't write this off if they are considered to be part of a set. Are they? Or can I write off all 6 items, as each of them cost less than R7,000?...

Read more →

Which tax form must I use to submit to SARS?

Posted 19 February 2015

I last submitted my an IRP6 form via eFiling in August 2014, end of Feb 2015 is my year end. . Do I still complete a IRP6 form or do I also complete the IRP12? this is for my business which is a private company. Also for this income tax submission do I calculate only from Aug?

I need assistance regarding provisional tax

Posted 17 February 2015

I am a full time salaried employee who earns a monthly salary from my employer which is taxed. However I also do 'contractual' work for the same employer that is not taxed like my salary is. I started receiving this additional income from September 2014 - February 2015 and in total I would've received R22,000 income that has not been taxed by the end of Feb. I want to know if I need to register for provisional tax? How much would I be looking at paying? I do have expenses that I would like to in...

Read more →

When is my first provisional tax payment duel?

Posted 15 February 2015

I established a new medical practice in January 2015. When is the first provisional tax payment due?

TAX ON FOREIGN INCOME

Posted 14 February 2015

What EXACTLY does this mean:"Foreign tax credits for this period (6 months) - if you earned money from overseas and any taxwas withheld or paid, include that amount here"?I get rental money (paid into an account in the UK) from a flat I own in London. I have to pay tax on that in the UK. So what does the above mean as far as I am concerned (I'm completing my second IRP6 for 2014-2015 period)?

If I do not meet the requierments for provisional tax this year what must I do?

Posted 11 February 2015

Good Morning. I would like to know if I were a provisional tax payer in previous years and this year I do not meet the requirements do I still have to pay provisional tax?

And can I deregister for provisional tax or do I stay registered?

Freelance Income from International Clients on ITR12?

Posted 4 February 2015

I have a international client that pays me monthly but they cannot supply me with an IRP5 since they not based in SA. How do I go about paying my tax?

Where does RA go on my Provisional Tax Return?

Posted 3 February 2015

Where do I claim for RA (retirement annuity contribution) on my provisional tax return - IRP6. Please help
Older posts →← Newer posts    7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27