Married in Community of Property

Updated 20 April 2022

My wife and I got married last year on the 26th of March 2018. We got married in community of property, so when it comes to tax what I would like to understand is whether we will both need to do our tax differently this year and also, I would like to find out what would the implications on our tax returns be like?

Code 3713 Implications?

Posted 20 April 2022

I have been paying PAYE on a site/home allowance which I get because I work on a site away from home. Can I get a tax deduction on this. My employer put it as a code 3713 on my IRP5.

Regards

Calculate salary pro-rata based on a basic salary of R18000 per month - days worked 14

Posted 19 April 2022

Calculate the pro-rata salary based on the basic of R18000 - 14 days worked on VIP payroll. Calculate the PAYE on the pro-rata salary as well. How does VIP calculate PAYE on a pro-rata salary?

What is an ITA34 form and where do I get it for credit card applications at a bank?

Posted 19 April 2022

Hi Tim I applied for a credit card at a certain bank and they want me to submit an ITA34 form because I do not have a payslip as I am self-employed.

Please explain this form to me and where best I can obtain it? Thanks

Severance pay and tax exemption

Updated 17 April 2022

My severance pay was taxed normal tax after I got retrenched even though my employer informed me that they applied for a tax exemption. Is this correct because I am confused about this? It was the first time an exemption was requested on my behalf and it was the first-time I got retrenched too. The amount of my severance pay was R370 000 and it was taxed normally. What recourse do you perhaps have for me regarding this matter please?

Deceased Relative and Savings

Updated 17 April 2022

I have a relative that has unfortunately passed on and I am the dependent that will receive all the savings from this relative- these savings are coming from an international bank account, in Norway. This would be my first time having to claim this and making sure that I do it correctly. What I would like to find out is, what would I need to do on my side to ensure that I am safe and clear with SARS and the laws of the country?

CIT Documents

Posted 12 April 2022

Q: What are CIT documents

How do I change my physical residential and postal address on eFiling.

Posted 12 April 2022

Q: How do I change my address on eFiling

What are CIT documents that SARS requires?

Posted 12 April 2022

Q: What are CIT documents

Divorce payout of approximately R850,000.00. How much would SARS tax?

Updated 11 April 2022

My husband needs to pay me R850 000 maintenance as part of our divorce settlement, seeing as he does not have the funds all at once so he will be paying it to me in as a lump sum of R600 000 and the rest will be monthly payments for 3 years. What will the tax be on it?

TaxTim says:

There should be no tax due on the R600 000 if it's maintenance paid from your husband to you, you are however required to declare this income to SARS under the n...

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I don't know what is s12e, can you help please?

Updated 8 April 2022

I don't know what is s12e

This query relates to question 4862 "Please enter the S12E accelerated depreciation allowance which the company can claim. Use our handy SBC calculator to help with your workings." in the Income statement section.

What is the difference between Pensionable and non-pensionable salary?

Posted 8 April 2022

Q: Please explain the tax calculation between pensionable and non-pensionable salary

Do I have to add VAT when selling a company car?

Updated 8 April 2022

Hi there :)

My service-based company is VAT registered. When we bought our first car I was very disappointed to find out I may not claim back the VAT we paid on the car back, since we are not a motor dealer. Now a couple of years later we want to sell that same car. My question is do we have to add VAT to our selling price as we do on all our services?

I hope not, because if we sell to a private non-VAT registered individual, then he or she will lose out on the 15% I have ...

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Obtaining an IRP5 form from an old employer

Posted 8 April 2022

I am having a problem with obtaining my IRP5 form from 2010 from one of my employers.
I was still in school this time and I worked as a waiter back then, so I was clueless when it came to submitting tax and all. I did my 2013 return, and now SARS have asked me to do it from 2010?

Answer:

You will need to contact your employer and ask them to send you a letter explaining why they are unable to provide you with the IRP5.

In most cases, your employer migh...

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Medical Aid and Pension contributions on IRP5

Updated 7 April 2022

I struggle to understand how the (The total deduction - code 4497 on IRP5) is calculated. I have a medical aid fund, pension fund and retirement annuity. My employer (the church) is contributing to all three of these funds. This question is for the 2021/2022 tax year with the new T-day implications. In the income section, the following IRP5 codes are used. (This I understand)
3810 - Medical aid benefit
3817 - Pension fund fringe benefit
3828 - RA fringe benefit

In the deductions/contribution section. These are the only items Payroll shows. ...

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VAT103 Certificate

Posted 7 April 2022

Q: VAT103 certificate

Self employed, how do I pay my tax to SARS?

Posted 7 April 2022

Q: Self-employed and tax payable to SARS

Tax calculation on Bonus

Updated 7 April 2022

How is one taxed on your bonus? If my bonus is R133 000, what amount should I expect to get out after Tax?

SARS asked for calculation for depreciation on laptop

Updated 6 April 2022

I completed my tax return through TaxTim. SARS asked me now to show them how we calculated depreciation on the laptop I use for work. Can you help me with this as I don't know what to give them?

Please provide an eFiling password example?

Posted 6 April 2022

Q: Provide an example of a Strong Password.

Can you show me what my eFiling password must look like????

How is profit on sale of private vehicles taxed?

Updated 6 April 2022

I bought a used bakkie from a friend at his book value and sold it soon after at a good profit. Will it be taxed under capital gain?

Confused between the ITA34 and ITSA

Posted 6 April 2022

Q: What is the difference between an ITA34 and an ITSA

What happens once I've submitted my tax return form?

Posted 6 April 2022

One of the questions most asked when it comes to tax season, is “what happens now that I’ve submitted my income tax return, when do I get my refund?”’

If you’re due a tax refund then you will probably get the money deposited into your account within a few days. SARS will also email or SMS you telling you that an IT34 (Summary of your return and refund) and ITSA (Income Tax Statement of Account) have been issued. They will detail your tax refund (tax back) if any. So look forward to that deposit into your account. ...

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How to calculate Tax on Overtime

Posted 6 April 2022

Question from Kelly:

How do you calculate tax on overtime?
Does the overtime put you in a higher bracket (pay higher tax percentage) for one month only if you received overtime in one month only?
e. G. Monthly income = R12050
Overtime = R4600
No benefits
How much tax for that month?

TaxTim reply:

Yes for that month you will be taxed at a higher rate as the PAYE is deducted based on the tax tables which are annualized.

Please have a look at this:

This is your take home pay: R14662

...

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Car vs car allowance tax

Updated 6 April 2022

From a tax perspective which is more beneficial to an employee: a car allowance or a company provided vehicle? What would the impact be on either if the employee does not travel sufficient business kilometres on both?
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