Tax refund on withdrawal of pension lump sum

  Written by Alicia   Posted 8 June 2016

Hi do you get your tax back when you resigned after they deducted your money from your pension funds.

Health insurance deductable?

  Written by Alicia   Posted 7 June 2016

How Do I Report My Health Insurance On my Tax tax return?

How to calculate travel expenses?

  Written by Alicia   Posted 7 June 2016

I will be claiming tax back on travel for business use for the first time. I have maintained a logbook since starting my new job in the middle of the current tax year 2015/16. Please advise what the "fixed cost" is, and how I can calculate what tax rebate I should expect to receive from SARS in July.

Multiple IRP5's received for one tax year

  Written by Alicia   Posted 7 June 2016

I received two IRP5. The second is for the Lump Sum I received after retrenchment, however no tax was deducted. I tax directive number was provided. Should I enter the information as well when submitting my tax?

Tax implications if one receive a subsistence allowance

  Written by Alicia   Posted 7 June 2016

We travel for work purposes, and are considering getting a daily allowance paid instead of submitting our expenses. What is the amount allowed per day / other amounts subsistence amounts, and are there tax repercussions on this method.

How to confirm foreign banking details with SARS

  Written by Alicia   Posted 6 June 2016

Hi, Could you please let me know the procedure to confirm my Indian Bank Details. I am an Indian Citizen and working in South Africa in Work Permit. I would like to register my Indian Bank Details for tax refund. Please guide me on the 1. Fees, 2. Documents Required

And also, I would like to know the pricing for tax filing for this year.

Tax refund on a contract position

  Written by Alicia   Posted 5 June 2016

I worked for a company from end of May 2015 to end of September 2015 on a maternity leave contract basis. The gross of this contract was over R33 000. Can I claim tax return on this and if so, do I get a payout?

Tax deductibility of vehicle lease payments for independent contractors

  Written by Alicia   Posted 3 June 2016

I am an independent contractor. I do not earn any salary. I currently have a vehicle on which I claim a travel deduction. My vehicle requires replacement. I would like to know if I can claim lease payments as a tax deductible expense should I lease a new car. I have not come across any prohibition on the SARS website. This surely is in the production of income as without a car I would not be able to carry out any work at all.

I am married in community of property, how will I be taxed on an investment?

  Written by Alicia   Posted 3 June 2016

How will I be taxed as I am now retired an have invested the money and draw monthly interest we are married COP monthly 13k

Medical aid tax deduction

  Written by Alicia   Posted 3 June 2016

If I,m a beneficiary on my partners medical aid can I claim medical aid as a tax deduction?
I pay the money into his account and then the medical aid debits his account?

Is GAP cover tax deductable?

  Written by Alicia   Posted 2 June 2016

Can an individual claim gap cover contributions on their tax return?

Information on out of pocket medical expenses

  Written by Alicia   Posted 2 June 2016

What expenses be covered as out of pocket medical expenses. Can the vitamins, extra supplements, liposuction, any cosmetic surgeries be covered under such expenses be claimed

Can one claim Uber back as travel expense for a business

  Written by Alicia   Posted 2 June 2016

As a freelancer, can I use my Uber receipts as mileage for work?

Which proof of expenses should I hold onto?

  Written by Alicia   Posted 2 June 2016

Which receipts should I take a picture of?
Or, which expenses should I note down in preparation for tax time?

Is dental insurance tax deductible

  Written by Alicia   Posted 1 June 2016

Is dental risk insurance a tax deductible

Members loan

  Written by Alicia   Posted 1 June 2016

I have a member loan account of approx R1m rand. I wish to reduce this by R100k by transferring this money to my personal bank account. The members loan account is interest free. What are the tax implications for my company and my personal tax? and how should I declare it on my tax returns.

Allowable tax deductions when building a personal residence

  Written by Alicia   Posted 1 June 2016

I have purchased a plot in 2015 and built a house. Are there any amounts in the purchase procedure and the building process that are tax deductible and are bad debts incurred during building deductible

Tax practitioner fees

  Written by Alicia   Posted 31 May 2016

Is a tax practitioner allowed to ask a fee based on a percentage of the refund I get or should they give me a quotation before the work commence?

Maternity Leave

  Written by Alicia   Posted 30 May 2016

I was on maternity leave from the 21st July to 1st December. During this time I did not earn a salary and claimed from UIF. How does my tax returns then get calculated?

What allowable deductions does a Pilates instructor qualify for?

  Written by Alicia   Posted 30 May 2016

I am a Pilates instructor and earn a commission from the studios I work at and I do my own invoicing for clients I see outside of the studio. The later I am self employed as I understand it. I only started working in South Africa in Aug 2014. My 2015 tax return was done by an accountant. I understand that being self employed and a commission earner I can deduct expenses directly related to earning an income such as:

- Vehicle expenses
- Phone expenses
- Education and training...

Read more →

Can I claim medical aid payments if my husband is the primary member?

  Written by Alicia   Posted 30 May 2016

Can I claim on my medical aid payments as a deduction being self employed when my husband is the primary member? The payments cover both of us. Lastly we have a life insurance policy which includes disability and dreaded disease. Can I deduct this payment or a portion of it?

Employed by a foreign company, and need to pay over my own tax, how much will it be?

  Written by Alicia   Posted 30 May 2016

I've recently become a contractor to an overseas company, I've been informed, that I have to pay my own income tax. I send them invoices. My monthly invoice fluctuates between 22000 and 30000 as I get paid on a daily basis. I don't get an IRP5, and I pay my own medical and recently setup my own RA contribution. I need to pay my tax. When and how much do I need to pay. I've been a contractor for them from January 2015 to now May 2016

Deposit of foreign income into South African bank account, is it taxable?

  Written by Alicia   Posted 27 May 2016

If I am working outside the country and wanted to send a large sum of money as a deposit for property within South Africa what are the Tax implications if any. I believe that because it is a large sum of money that it would need to be declared to the South African Reserve Bank beforehand.

Can I deduct salaries I pay from my unrelated salary for income tax purposes?

  Written by Alicia   Posted 26 May 2016

Hi, I have a quick question, I am a permanent employee of a company and earn a monthly salary from which I pay medical, pension and pension fund, all deducted straight from my salary. I in turn have two people employed by me on a permanent casual basis, they are paid roughly R2500 each per month, could I get a tax deductions for this?

what expenses can i claim if I own a taxi?

  Written by Alicia   Posted 26 May 2016

If I own a second vehicle and use that second vehicle 100% as a Taxi. Would the tax be payable on only the income or payable on income - (minus) expenses?

For example, monthly costs breakdown as follows:

Expenses: Vehicle Repayment Costs - R1500 / Vehicle Insurance: R1100 / Vehicle Tracking Costs: R100 // Total: R 2,700. 00

Income: R 8,000. 00

Income (R 8,000. 00) - Expenses (R 2,700. 00) = R 5,300. 00

My question is. Would I pay tax on the income of R 8000 before deducting expenses...

Read more →
Older posts →← Newer posts    8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28