Depreciation/Wear and Tear

Posted 12 November 2014

Calculating Depreciation/Wear and Tear (note 47), does it apply to both provisional taxpayer and regular taxpayer ?Under which conditions can you claim for it ?

Receive ITA34 after being audited for 3 months

Posted 11 November 2014

I was audited by SARS from July 2014, received completion letter at the beginning of August 2014 then I was selected for further review but today I received an ITA34 I'm I getting my refund?

CGT on primary residence that was also rented out

Posted 11 November 2014

I lived in a property for a number of years, then rented it out for a few more years after that, and I have now sold the property. It appears that CGT is only applicable to the pro-rata portion of the time that the property was rented out - thanks for the blogs and answers to previous questions on your site I was able to figure that one out. My problem is how to capture this in efiling. Do I pro-rata the base cost and proceeds and enter the reduced amounts? Or do I tick that it is a gain in lieu...

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Income tax for taxi owners - how can I submit my return?

Posted 11 November 2014

How do I fill a tax return with an income from local trade- public transportation?

Tax Return Amount - is it correct?

Posted 11 November 2014

Does the money reflected on the e Filing site as a refund the same amount a person should expect or will it still be assessed and you could receive less/more than that?

Need clarification on whether an ITA34 means they have concluded your review by SARS?

Posted 11 November 2014

I would just like clarity on this. I submitted my return, they asked for supporting docs, I gave my tax certificate of medical aid only and then was issued with a ITA34 which said said I was due a refund.I don't have an ITSA, should we get both? See below. What I am unclear of is the wording, it says the assessment has been concluded but then later on it talks about info not matching and a review. I have looked back on previous returns I have done and it said the same and I got the refunds with no hassle. Just want to know if this is final now or may they come back and request more info or can I expect a payment in the next few days?...

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Ander inkomste

Posted 11 November 2014

Ek het my opgaaf gister begin. Ek ontvang jaarliks 'n trustee vergoeding wat nie deel is van my ander inkomstes waarvoor ek 'n opgawe kry nie. Ek het die ja blokkie getik wat vir my vra of ek enige ander inkomste het behalwe bogenoemde opgawes.Waar vul ek nou daardie opgawe in by inkomstes? Daar is 'n blokkie wat oa praat van profesionele werk gedoen, is dit daar wat ek dit moet invul.DankieKobie.

Status of tax return submitted via T-Filing

Posted 11 November 2014

I just made use of the new T-Filing method (very nice btw). I followed all instructions pertaining to enabling shared access via SARS e-filing. My question is thiswhat happens next? How do I know the transfer was successful, and is there anything left to do from my side?

What of form of tax do I pay if I am an SA resident employed and paid by a foreign employer?

Posted 11 November 2014

I am employed by an non-profit organisation based in the UK. I am a permanent resident of SA and I work from home. I receive my salary from the UK (monthly, with payslips) in GBP every month and I would like to know what I need to do to pay tax and what documents are required for SARS. Do I do a normal tax return?

Is list of local and foreign assets required by SARS, for foreign pensioners in South Africa?

Posted 11 November 2014

I am French resident, who retired in South Africa. I receive a pension from France.

My tax consultant says I must complete a document, listing all my local and foriegn assets. Is this correct? and if so, why is this now required?

can a tax payer claim for his umemployed spouse, medical bills?

Posted 11 November 2014

Can I claim for my wife's medical bills? she is unemployed, on chronic meds. she is not a member of my medical aid. All bills are my responsibility.

Only pay tax if you earn over R250,000?

Posted 11 November 2014

I read of the SARS website that you only need to pay tax if you earn over R250 000 a year?

I am self-employed but my income comes from one source. Would this apply to me?

Tax implications of working in Germany

Posted 11 November 2014

I work in Germany, am taxed in Germany (heavily it seems). What are my tax implications in South Africa?
Do we file a return in Germany & South Africa?

My husband has been working in Germany since the beginning of 2013, and myself since March 2014.
We are in Germany for the entire time (visiting SA for maybe 1 month to 6 weeks a year).
We also pay for medical aid, and related German funds (church tax, solidarity tax, retirement taxes, etc)
We both have an Retirement Annuity running in South Africa too. ...

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2 requests to upload supporting documents - is that normal from SARS?

Posted 11 November 2014

I filed my tax and claimed for medical expenses - I had an operation I had to pay for privately. I uploaded the invoices upon SARS' request. They called me after about 3 weeks and asked me to further upload the receipts which I have now done. Will it take another 3 weeks for them to review the receipts?

I want to submit my IRP5 for 2014

Posted 11 November 2014

How can I submit my tax return for 2014 on line?

What is the tax on a lumpsum amount of R200 000?

Posted 11 November 2014

What is the tax on a lumpsum amount of R200 000 if i resigned from my job and got paid from my fund?

Advantages of paying for own medical aid rather than employer's contributions?

Posted 11 November 2014

Is there any distinct financial advantage to paying for my medical aid on my own (therefore not involving my employer at all), rather than opting for my employer to contribute a portion (which would form part of my total cost to company)?

In both instances, the Total Cost to Company would stay the same - I understand that the contribution from the employer does not get deducted from the income earned and thus the tax on income earned stays the same, apart from the tax credit for independents. If this is correct, it would seem that the only benefits would be that the employee receives monthly tax credits rather than once per year. ...

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Is it best to keep financial records?

Posted 11 November 2014

Do I need financial statements if I'm a sole proprietor?

What is the tax on R1 101 000.00

Posted 11 November 2014

What is the % of tax calculation when resigning?

How to get access to an IRP5 form online?

Posted 10 November 2014

How to get an IRP5 form online?

Do I use my PAYE no. to submit a Tax Return?

Posted 10 November 2014

I have not registered a tax return for the past 15 years.
I receive a pension and have a PAYE number.
Do I need to register with the SARS for my tax Returns or do I use the PAYE no.

Are bank charges deductable wrt interest earned?

Posted 10 November 2014

I have a money market account and am charged a monthly fee. Can I deduct this from my gross interest?

What is Section 89 Quat(2)

Posted 10 November 2014

What is section 89 quat(2) interest?

What will the tax impl be of transferring property

Posted 10 November 2014

I wish to have a property of my parents transferred to myself and the transaction to be concluded using an interest free loan from my parents. I then wish for them to write the loan off annually with the full amount that is allowed by tax, they are married in COP.Will this be possible?The value of the property is R1,5mil - municipal valuationWill there be any additional taxes on such a transaction?

Tax on small businesses?

Posted 10 November 2014

What if the Small business has had no profit, can I still claim from SARS
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