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Latest Posts in Tax Q&A

My tax number please help me with it?

  Written by Marc  

I forgot ma tax number can u remind me plz

Where to start with the whole process of submitting tax returns?

  Written by Marc  

Am ashamed to say that I have not been submitting my tax returns since 2010. I have just been negligent on my part, what I want to ask is how do I start or go about rectifying this problem? There was also a period of unemployment over maybe a year due to short relocation to Gabon. I have been a regular tax payer since starting my career.

Pensioner, 67y of age-i.t.o 2015 tax year- Calaculation of med aid contributions and deductions?

  Written by Marc  

I am 67 years of age and a pensioner. In terms of the 2015 tax year how is the deduction in terms of Medical Aid contributions been calculated. Example:
Annual contributions to my medical aid fund = R24,000
Med expenses (Dr precriptions) paid out of my pocket = R2000
Previously in terms of my age above 65y, I have deducted my med. Contributions premiums, as well as my med expenses paid out of my pocket(prescriptions) as well as med expenses paid by myself and reflected on my medic...



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Transfer of benefits from one fund to another

  Written by Marc  

I resigned from my previous employer in 2006 and defer my pension at ABC Pension Fund. I join a new employer and contributed to their pension fund, XYZ Pension Fund. I am now 56 years old and want to resign from my current employer to do voluntary community work. Can the withdrawal benefit from XYZ Pension Fund be transferred to my deferred pension at ABC Pension Fund tax-free, as I don't want to go on retirement before I am 60.

Erroneous Payments and IRP5

  Written by Marc  

I've been overpaid erroneously for a year . My employer wants the monies paid back in full. Roughly a third of the amount was taxed and appears on the IRP5. Must the IRP5 be amended by the employer, while we sort out the pay back arrangements?

If I buy educational toys and build a structure for a community creche will I still get taxed?

  Written by Marc  

I''m working for government for about 5 years and I do pay tax. I want to know that is it true that if I help my community with something will I not get taxed? example , let me say I help a community creche with building structure, and buying of educational toys for them. Will I still get taxed?

PAYE evasion

  Written by Marc  

What happens if someone is not paying the correct PAYE to SARS and they are doing this intentionally?

Evading vat

  Written by Marc  

What if a company is taking cash and not declaring it to SARS? Does the SARS fraud line worK for real?

The formula or method used

  Written by Marc  

Who to calculate medical aid tax paid by the business for the 67years old employee. If the business pay R2000 per month.

Will SARS be able to assist me with the documents since nashua mobile has closed down?

  Written by Marc  

Nashua closed down and where can I get my IRP5 as I need to submit to SARS for audit?

I need my tax number from SARS?

  Written by Marc  

I dont know my tax number. My Id Number is 8604165133084

Selling software and rights taxation

  Written by Marc  

I have been developing and maintaining various software throughout the past 4-5 years, I earn a income on the sale of 1 year licenses of these software and declare it as part of my normal monthly income and pay normal income tax on this. I have however been approached by a company wanting to buy the software and all the rights to it from me, how will taxation work on this? I am already being taxed to oblivion and beyond on the sales as I declare it as part of my normal income, would hate to have...



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What will my tax be?

  Written by Marc  

HOW MUCH TAX WILL I PAY MARRIED WITH 2 CHILDREN ON A GROSS SALARY OF R35. 000. 00?

What is gross salary for net salary of R22000.00

  Written by Marc  

What is the gross salary if the nett salary is R22000. 00

CODE 3805, CAN I CLAIM

  Written by Marc  

Hi Tim, can I claim on code 3805 as per my IRP5

Capital gains tax on sale of house?

  Written by Marc  

I bought a house in November 1999 for R275,000. It was my primary residence up to November 2014, since then I rented it out. If I sell it now for R1,000,000 what will the basic cost be? And the capital gains tax?

Tax calculation on retirement?

  Written by Marc  

I intend to retire at 44, and lump sum is about R719000. How much tax am I to pay?

What is the impact of the tax credit in a case where the employer pays 50% of the monthly medical co

  Written by Marc  

What is the impact of the tax credit in a case where the employer pays 50% of the monthly medical contribution and the employee pays 50% of the medical aid contribution?

GEPF options to minimize tax?

  Written by Marc  

I am resigning from the GEPF. I have two options either transferring to a preservation fund or having the money transferred into my bank account. What are the benefits of the two methods in terms of the tax that I will pay

Taxed 199999 from provident fund how much will I get?

  Written by Marc  

How much will I get from SARS after been taxed R199999 from my rovident fund

Approved I'll health retirement

  Written by Marc  

If I am going on early I'll health retirement and I am disabled, is my lumpsum still taxable?

Purpose of provisional tax?

  Written by Marc  

What is the purpose of provisional tax?

I need my eFling details please?

  Written by Marc  

How can I see what my details is at tax as I want to register for eFiling but they say my info is not the same.

Non residents - do I need to submit a tax return on interest payments

  Written by Marc  

I am a non resident but earn a small amount of interest from a FNB non-resident bank account. Do I need to submit a tax return. Can I do it through TaxTim

Vat return Inputs and Outputs?

  Written by Marc  

I am currently busy with my company's VAT return for March and April, but our invoicing is a lot more than our purchasing. It looks like we will have to pay about R180k, My question is : Can I hold back on some of our invoicing when submitting my return? Since we have 5 years to claim it?
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