CGT and new retirement fund laws

Posted 8 February 2017

Non of the tax calculators include Capital Gains tax
What is the impact of a Capital Gains Tax on the allowable RA deduction?

What does "accrual for tax purposes" mean?

Posted 8 February 2017

What does "accrual for tax purposes" mean?

If my turnover drops below the 28% threshold, do I still have to pay tax at 28%?

Posted 8 February 2017

As a small business, if my turnover is R14 million in year one and then drops to R12 million in year two, do I still have to pay tax at 28% per annum,even through the turnover has dropped below the threshold?

Does the 27.5% of income you can put into a pension fund only mean income you have earned as a wage?

Posted 8 February 2017

I am self employed and only earn about R12000 per year. However I earn about R200000 per year in interest from savings accounts. Can I put 27.5% of my total income (Earnings and interest) into a pension fund per year or only 27.5% of the money I earn through working?

Home office and CGT

Posted 8 February 2017

I work from home and would like to find out what will the cgt implication be when I sell my primary residence and is it worth it for me to continue to deduct my office space as an expense?

Turnover tax and provisional tax

Posted 8 February 2017

If I am paying provisional tax, do I need to register for turnover tax too?

My salary differs every month

Posted 7 February 2017

I work on a contract basis and even though I work the same amount of days my income always fluctuate.
My employer says it is because my hours are different each month, could this be the reason?

Does married in commuity of property mean a partnership?

Posted 7 February 2017

We are married in community of property does this mean this is a partnership for CGT purposes?

Tax on rental income while being a student

Posted 7 February 2017

I am a student earning rental income on my deceased parents property, am I supposed to declare this income to SARS and pay tax on it? The amount I earn is just over R25000 after deductions per month.

Tax on commission income

Posted 7 February 2017

Am I supposed to pay tax on my commission if I don't earn a straight salary too?

Depreciation on a phone

Posted 6 February 2017

I use my phone for work purposes and have a letter from my employer confirming this. Can I claim depreciation on it even if I've had it for 2 years already?

Accumulating overseas dividends do I pay tax on these in SA?

Posted 6 February 2017

If the dividends from overseas shares are accumulated back into the fund in the UK, do I need to pay tax on them in SA even if I am not having them paid out to me. In the UK I do not have to pay tax on them if they are accumulated.

Legislation affecting foreign pensions

Posted 6 February 2017

Good Day, this is my 2nd question in as many months. Hope I am not overdoing it but this item will be of interest to many and any suggestions you may have will be greatly appreciated by myself. I am 80 years of age and have been retired for 20 years. A significant portion of my pension has been tax free for 20 years as the result of it having been earned whilst I worked outside of RSA. Yesterday (2. 2. 17) my pension administrators advised me that as from 1. 3. 17 the tax free portion will be ta...

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My eFiling profile wont allow me to auhorise you

Posted 6 February 2017

I am trying to authorise shared access to my SARS eFiling profile but it keeps telling me that my profile is not yet activated, what should I do?

Do I declare my CGT on the IRP6?

Posted 6 February 2017

My husband and I sold our primary residence and bought a new one in April 2016. According to TaxTims Calculator, we don't need to pay Capital Gains Tax because it was less than R2m, but:
1. Do I still need to declare the capital gain?
2. If so, do I declare 50% of it because I own half of the property?
3. Also, I missed any mention of capital gains in my Prov tax Period 1. When I filled in Period 2 today, I didn't see any space to add Capital Gains.

When is the earliest date for Tax submission?

Posted 6 February 2017

When is the earliest date for Tax submission for 2017 tax year?

Why do I have to pay back

Posted 6 February 2017

SARS request payment from me. I am not sure why? How do I check? And on the phone SARS says because I never submit all supporting documents!

Vehicle depreciation vs deemed travel allowance deduction. An I allowed both?

Posted 6 February 2017

Vehicle depreciation vs deemed travel allowance deduction. An I allowed both?

ITR14 confusion

Posted 6 February 2017

I started my company in jan 2015 and want to submit my tax for march 2015- Feb 2016. I requested ITR14 for tax year 2016 is this correct. Which one do I request for Provisional tax for the same tax year. (2015-02,2016-01,2016-02)?

Tax on last salary

Posted 6 February 2017

I earn R8000 per month, if I resign from my employer half way through the month am I still required to pay tax on my income?

Over how many years can you depreciate earthmoving equipment

Posted 6 February 2017

Whats the depreciation on a 2006 bobcat?

Add more than one depreciation expense

Posted 6 February 2017

I have a laptop, tablet and cell phone that I need to depreciate, how do I do this?

Can I claim tax back on the materials I bought?

Posted 6 February 2017

I am self employed and bought materials for my business, can I claim a deduction for this on my return?

Depreciation on office equipment

Posted 5 February 2017

I am hiring office equipment such as chairs, tables etc. can I claim depreciation on it?

Divide pension between spouses

Posted 3 February 2017

I am married in community of property and my wife and I are both individual provisional tax payers. I have been retired for 20 years. Can i divide my pension income between myself and my wife's income on our IRP6s?
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