Query re first time tax for new small unregistered business

Posted 4 February 2016

I left a permanent job and started a freelance design business in July 2015. My Personal income tax for last year is up to date. I need to start paying tax on my business but have no idea how this works. I am using my personal bank account to receive payments from clients for design services. I am not yet breaking even and can barely pay my bills. I am not making a profit yet. I have no idea how tax works. I need help and wondered if signing up to TaxTim would be the way to go? I would need to b...

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What return must I submit?

Posted 3 February 2016

I owned a business for portion of the year and made drawings from the business. Then I leased out my business for the remainder of the year and received rental. Do I fill out an ITR12 tax return. If not, what form do I complete?

Does tax threshold still apply to me at age 78. I understood that I shouldnt pay tax at all

Posted 3 February 2016

Thanks for helping with my tax return! I expected to get a bigger refund. I am 78 and understood that any tax paid would be refunded in full, but am told there is still a tax threshold?

Fringe benefit tax on fuel card

Posted 1 February 2016

We receive a fuel benefit which is indicated as an income ( this in my mind will put me into the next bracket ). I am taxed on the higher income, then the very same amount that has been used for fuel is shown as a deduction. I don't understand this can you please explain. I don't see the benefit of a fuel card.

Penalty for late payment of vat

Posted 1 February 2016

What is the penalty for late payment of vat?

Delay in finalisation of my return

Posted 29 January 2016

I submitted my 2015 tax return in November 2015 with supporting documents, and to date it is still in audit with no queries raised. Who do I complain about the delay in my finalisation of my tax return? Could the delay be due to the fact that monies are owed to me.

Query on payment of uif

Posted 29 January 2016

Do foreigners pay UIF and if so do they benefit

Refund and auditing outcome

Posted 29 January 2016

I initially filled for my tax returns for 2015 and I was told that I had two outstanding years I have to filled and until I do, i'm not going to receive my refund and I was told that i've been selected for an audit as it's mostly the case for foreign contract workers. So within, two weeks, I submitted the remaining two outstanding years at a SARS office at Richardsbay. I received my ITA34 alright for both years just like the earlier one. So in total, I was due for about R13700 refund pending the...

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Am I eligible for 2nd one third tax free payment?

Posted 29 January 2016

I was retrenched at age 54. One third tax free amount paid out to me. Started working again for another company after 4years. A contribution towards a provident fund was paid in by new company when I started work again after 4years. I am now 69 years of age and retire by end March 2016. Will I be entitled for another one third tax free payment?

How to practically offset an assessed loss

Posted 29 January 2016

Hi Tim, I owe SARS R240,000 for income tax year 2012. However, when I checked my compliance, I had not submitted an income tax return for 2011. So I submitted this and obtained an assessed loss of more than R1m. How do I practically use this assessed loss of 2011 to get rid of the 2012 debt of R240k on SARS SARS eFiling

Does a dormant cc count in generating my personal ITR12?

Posted 29 January 2016

If I am a member of a close corporation that has ceased trading (I receive no income from the cc) prior to the year of assessment, should I still enter "Y" in my personal ITR12 (in which case a "Statement of Local Assets and Liabilities" section is added to the form. Or can I enter "N"?

Outstanding returns

Posted 29 January 2016

I have outstanding tax returns for tax years 2013, 2014 & 2015 and have IT88 deductions for the periods, how do I reconcile all outstanding tax returns and will the IT88 amounts be considered should there a "Due by you" amount or credited if there is a "Due to you" amount on completion of the assessments. Are you able to assist in getting all these tax returns completed.

Supporting Documents - link missing.

Posted 29 January 2016

Hi, SARS ask for supporting documents, but when I open my ITR12 in the history, there is not a tab for submitting documents like you explain. Where must I upload this documents now?

Why has my money not been paid back?

Posted 28 January 2016

I submitted my tax return last year for 2015 I gave them IRP5S for 2010-2015 as requested - money not fully paid, why?

As the sole employee and director do I have to pay PAYE or can I pay provsional tax bi-annually?

Posted 28 January 2016

I am an independent consultant. I have been operating since June 2015 and have been paying myself a salary and deducting PAYE
I have recently found out that I must be a provisional tax payer as well
Since I have started in June and have not deducted any expenses to arrive at my taxable income, it appears that with 2 months to go I have overpaid my tax significantly
from a cash flow perspective, I will only receive my refund around July/August
Am I able to not pay PAYE for the...

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Can my husband claim medical if the wife makes the payments?

Posted 28 January 2016

I became a stay at home Mom as of 1 Dec 2015. I know money's transferable from hubby are not taxed. Can I still pay for things and my hubby claim for them? I have a disability and have two autistic sons. All three of us are registered as disabled with SARS.

How to arrange a payment plan with SARS.

Posted 28 January 2016

I started my business a few years ago, and the accounting firm that I appointed hardly made contact. As I'm not an accountant / bookkeeper / figure orientated wizard, but rather work with tools, I have no idea what is expected. A year ago I approached another bookkeeper and he ended up taking over my books from the previous firm. A month later I had to supply docs for my personal tax submission. I then found out that I owe SARS in excess of R40K, for some issue not resolved by previous firm, and...

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Can you apply 4 a tax number if you are a foreigner working in SA

Posted 27 January 2016

Lm a foreigner working in SA. L use an asylum can l apply 4 a tax number thy need it at work please help

What to do when disability & medical on ITR12 is not part of ITA34 and received letter of completion

Posted 27 January 2016

Hello TaxTim, for the tax year 2015 I completed my ITR12 through e-filing on the 26-11-2015, including my disability totals. The same day I received the ITA34 but not reflecting my disability & medical costs. I also received a letter to submit supporting documents the same day and did so on that same day. I also filed a NOO on the 10-12-2015 objecting the fact that they excluded the disability & medical claim/section, accompanied by the supporting documents. They send me an SMS that I have to pa...

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Would I get the refund originally calculated after verification assessment is complete?

Posted 26 January 2016

When I submitted my tax return, I received an ITA34 informing me that I am due a R3 000 tax refund from SARS. Then I received a letter from SARS asking me for supporting documents, for verification assessment, which I had then submitted. Now I receive further correspondence regarding the verification assessment saying that "no adgustment has been made to the assessment". Does this mean I still get my R3 000 tax refund? And if so, by when can I expect payment of this refund?

Income TAX for temp job with total income under tax threshold

Posted 26 January 2016

Will be registering with SARS for income tax this coming week. Doing a temporary job for January and February. 1. The business owner is telling me that will deduct 25% from the amount agreed, although for the two months (Jan and Feb) the total amount will be below the annual tax free threshold (R73 650)
Is this correct?

2. Will I be able to recover all the TAX, which will be deducted, when I submit the tax return for 2016?
(the actual amount is R63K and my tax will be friken R15 750 in total!)...

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How to calculate provisional tax Feb 2016

Posted 26 January 2016

As a provisional tax payer what are the periods (months) that I need to consider in order to calculate my tax submission for 28 Feb 2016?

Is SARS definition of 'taxable income' circular with respect to donations made?

Posted 26 January 2016

According to SARS, "Deductions in respect of donations to certain public benefit organisations are limited to 10% of taxable income (excluding retirement fund lump sums and severance benefits)". But taxable income is the difference between gross income and deductions, one of which is the amount donated. So the SARS definition is circular, and therefore impossible to calculate. Or am I missing something?

PAYE Requirements for companies

Posted 25 January 2016

I have a PTY(ltd) company and would like to know if I must register for PAYE. I am the only person/owner/director in the company with no employees who derives an annual gross Salary of R72000pa.

Rebates on 740000

Posted 25 January 2016

I have been taxed 740000 on pension lump sum. Will I get something when I claim tax this year?
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