TAX DEDUCTABLE?

  Written by Marc   Posted 17 September 2012

I am self-employed, with a irregular monthly income. Am I able to deduct the Rent that I pay for my therapy practice, from my gross income?

Tax deductable?

  Written by Marc   Posted 17 September 2012

Could you please let me know if any of the following are tax deductable:
1. Personal insurance for home and car
2. Membership fees to religious organization
3. Paying my child's university fees
4. Monthly fees for home security and maintenance service

Thanking you.

How much do you have to earn to apply for your tax back?

  Written by Marc   Posted 17 September 2012

I earn approximately R127K per year and was wondering if I can apply for my tax back.

I have submitted incorrect logbook information to SARS, what does that mean?

  Written by Marc   Posted 17 September 2012

I did not keep a detailed logbook for the year and made one up from memory when submitting my tax return. I have now been selected for an audit and fear that my supporting documents and logbook wont correspond. What do I do?

Passive income of spouses married in community of property?

  Written by Marc   Posted 17 September 2012

I understand that when one spouse recieves interest or dividends, that it is deemed to have acrrued equally between the spouses married in community of property. When completing the tax return and answering the questions that TaxTim asks you, do you fill in 50% of the interest or dividend that you earn as the other 50% will be taxed in the hands of the spouse, or do you fill in 100% of the interest or dividends?

I completed the tax form, how long will it take for any feedback or money to paid out to me?

  Written by Marc   Posted 17 September 2012

How long will it take to get money back?

What is a tax threshhold?

  Written by Marc   Posted 17 September 2012

Tax free R11,440, then 18% tax up to R160,000pa / Tax threshhold = R63556 - what is this tax threshhold?

Can I claim travel expenses if I haven't kept a logbook?

  Written by Marc   Posted 17 September 2012

I haven't kept a precise logbook for the year, may i still claim travel expenses as a deduction?

Can I complete my wife's tax return?

  Written by Marc   Posted 17 September 2012

I would like to join for the purposes of completing my wife's tax which carries a travel allowance? Will you do that if I should join on her behalf?

On my IT34 it reflects a minus amount??? Does this mean I owe SARS money?

  Written by Marc   Posted 17 September 2012

What does it mean if on my IT34 a minus amount is reflected and then there is also a "dispute" icon that you can select , what does that mean ?

Chronic medication not cover by medical aids

  Written by Marc   Posted 16 September 2012

I am receiving chronic medication that is not covered by any medical aid since they not on the list for chronic medicine. The cost for this medicine is R13 000(thirteen thousand rand) per month which work out to R156000 per year. I earn R405850 per year and was wondering how much of this would I be able to claim?.

How do you sign the return declaration field in eFiling?

  Written by Marc   Posted 16 September 2012

Before I'm able to file my return to SARS does the declaration field
requires signing?

If married in community of property, should the passive income be divided between the spouses?

  Written by Marc   Posted 16 September 2012

If married in community of property, should the passive income be divided between the spouses or will taxtim do it automatically?

Tax Number

  Written by Marc   Posted 16 September 2012

How long does it take to get my tax number after application?

I have worked and paid tax as I earned until September 2011, since then I have earned an income, how

  Written by Marc   Posted 3 September 2012

This income was payed by a foreign company, but I have not paid tax on this and I'm changing jobs now to a PAYE system again in October. How do I go about determining what I owe SARS?

How long does is it take for my details to update on the SARS system?

  Written by Marc   Posted 25 August 2012

I submitted my returns on efiling about 3 weeks ago. When I called for a follow up, I was advised my address is "unknown" on the system and that I'll have to go to the SARS branch with my bank statement, certified ID copy and proof of residence. I did than on Monday and when I called again on Thursday, I was told to go to the branch again to update my details as the system still said my address is "unknown". I advised the lady that I was there on Monday and she didn't sound too sure but said my details should be updated after 41 days and only then will I receive my payout....

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If an employer pays 100% of the medical contribution on my behalf what are the tax effects?

  Written by Marc   Posted 20 August 2012

Do I now as an employee/taxpayer qualify for the medical tax credits, on submission of my IT12? The Medical Aid tax certificate is issued on my name and not the Employer as it is not a group medical scheme.

Capital Gains Tax

  Written by Marc   Posted 20 August 2012

I received an inheritance. I sold the property. There is no base cost, since I did not pay for the property and there is no improvement made. How do I proceed with the question.

What response should I expect after submitting IRP5 to SARS?

  Written by Marc   Posted 20 August 2012

I submitted my IRP5 to sars & they said i'll get an sms, so far I have received nothing so i'd like to know hw long does it take to get their response and what response should I expect?

Is income earned online taxable?

  Written by Marc   Posted 20 August 2012

Would this apply as provisional tax ? I earn income from Cash Back advertising, Basically you purchase a $10 advertising package which promotes your website for 75 days and pays you 2% per day giving you a return of $15 or 150% after 75 days. Thanks for your website, I was totally clueless about tax before.

Are the SARS office calculations always right?

  Written by Marc   Posted 20 August 2012

I have received a ITA34 which shows the refund, I have now been audited 3 years consecutively 2010,2011 and 2012.I had no other information to submit only medical aid and was employed for 4mths of this 2012 tax year due to retrenchment.

Medical Deductions section is confusing me!

  Written by Marc   Posted 20 August 2012

I've gone through the entire process and am filling in the e-filing form. I'm stuck on the Medical Deductions section. I've filled in what TaxTim suggested, but the e-filing calculator is ignoring the amount at code 4020.

The "Did you incur any medical expenditure?" is ticked "No". But if I change it to Yes then it expects that I have paid to a medical aid and wants a "0" if my "employer" paid the total.

My specific scenario is a little different. My wife pays the medical aid each month and claims that on her own tax return...

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Started freelancing, not paying provisional tax. Can TaxTim help?

  Written by Marc   Posted 20 August 2012

I have being earning some money on the side as a freelancer during this last tax year and I went fulltime freelancing in a personal capacity at the end of 2011.

Will TaxTim be able to guide me with the expenses I can claim as part of operating as a freelancer? SARS is very strict on when certain expenses can be claimed. They seem to only allow expenses when salary is earned on a commission basis.

Tax on performance bonus

  Written by Marc   Posted 20 August 2012

Every quarter, we receive a performance bonus. this is worked out as a percentage of monthly salary. so if i earn R10 000 and my percentage was 50%, then I would receive R5 000 on top of my salary.
There was a discrepancy last quarter where the %'s used to calculate the bonus were incorrect and
they went ahead and paid the incorrect amounts out.
e.g.
Monthly earning - R10000
% suppose to have been paid - 50%
% actually paid - 60%.
difference of 10% = R1000 paid extra to me....

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Who pays and how much tax will be due on gifts given to family? Will there be a donations tax?

  Written by Marc   Posted 20 August 2012

My dad has investments, can he give lump sums to his kids as gifts and who will pay tax and how much? He was told he is not allowed to gift more that R5000.00 a year.
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