How do I know that I owe sars or they owe me?

Posted 1 April 2022

Q: How do I know if I owe SARS or not

What does a negative tax refund amount mean?

Posted 1 April 2022

Q: What does a negative tax refund amount means

Is VAT on commission subjected to income tax?

Updated 31 March 2022

If an individual who is a registered as VAT vendor acts as an Agent and earns commission ad obviously charges output tax and declares it to SARS.

I.e. Someone who has invoiced out R100.00 and declared an output tax of R13.04 to SARS, when the time comes to file their personal income tax does the person have to declare the same amount being R86.96 excluding VAT as their commission income and do they have to pay income tax on the above amount?

Will that not be double taxati...

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How do independent contractors get taxed?

Posted 31 March 2022

I will be taking a new job that requires me to be a contractor. There are mixed opinions on how contractors get taxed. The consulting company assures me this is a flat rate of 25%, but on reading SAICA's website I found this little nugget: " If the independent contractor works more than 22 hours a week, he/she must be taxed in terms of the income tax tables".
I will definitely be working more than 22 hours a week, can you tell me things will work, please?

The question of tax relates to how you are perceived to be working for the "employer" to whom you will be contracting out to...

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Drop-shipping and taxes

Posted 31 March 2022

Q: Tax on Sole Proprietor Income

How should an online freelancer pay tax?

Updated 31 March 2022

Hi there, I need some advice. I currently work full-time but will be going freelance from April. I have already started some freelance work on the side, and wanted to know how I should go about paying tax for this? Most of the Freelance work I am doing is on an online website (for countries all around the world) and I transfer the funds into my bank account each month. No tax is taken off of this by the website, so I wanted to find out how I should go about paying tax, would it be a monthly or y...

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Independent Contractor versus Personal Service Company

Updated 30 March 2022

I'd like to get some clarity on whether there is a difference between an Independent Contractor and a Personal Service Company?

How do I see if SARS owes me money?

Posted 30 March 2022

How do I see if SARS owes me money?

Calculation of fringe benefit tax on use of a company car. / deduction claim

Updated 30 March 2022

Calculation of fringe benefit tax on a company car. Car owned by the company used for business purposes and a small amount of private (home to work etc) Codes 6020 and 6035 are used. One is for the value of the vehicle and the other is the amount taxable. Does this get added to the taxable income? will code 6035 be the one that contains the taxable portion?

What is UIF

Updated 30 March 2022

Is UDF the same as tax?? and if not do you know what the diff is??

Negative amount on my SARS statement

Posted 30 March 2022

Q: Negative amount on my SARS statement

How would I calculate my rate per hour if my salary is R15000 per month

Updated 29 March 2022

How do I calculate my hourly rate if my salary is R15000 p. Month before deduction

How will my 13th cheque / bonus be taxed?

Updated 29 March 2022

How do you tax 13th cheque bonus if you earn 14560. 88 as basic salary before deduction

How to calculate gross from net salary

Updated 29 March 2022

How do I calculate gross salary if given a net salary? The gross salary should include the UIF and PAYE per month? For example, if someone's net salary, that is the amount that goes into the bank account is R50000. 00, what is their gross, considering only two deductions, that is UIF and PAYE?

Difference between income tax number and PAYE reference number?

Updated 29 March 2022

Q: What is the difference between Income Tax number and PAYE Reference number?

Difference between Vat and Tax numbers

Updated 29 March 2022

Q: What is the difference between a VAT registration number and a tax reference number. When do I use which one? Are they not the same thing?

What is Gross Remuneration?

Updated 28 March 2022

How is 3699 Gross Remuneration arrived at?

My IRP5 is incorrect - can I edit it myself on eFiling?

Posted 17 March 2022

SARS code 3601 on my IRP5 is incorrect - my employer is saying I received more than I actually got paid. My salary on my IRP5 (source code 3601) is R100 000, I then got deducted R25 000 PAYE, but when I actually got paid I only received R49 000 into my bank account. There are no other deductions on the IRP5.

Can I modify it myself on SARS e-filing? This was a once-off payment for work done, but it now seems that my employer underpaid the actual salary.

Why was my tax refund reversed by SARS?

Posted 17 March 2022

I have not received my tax refund and it is the 18th of the month. My tax return was submitted on the the 3rd of this month.

Tax on Lump Sum payment - Provident Fund

Posted 16 March 2022

Hi,

A friend received a lump sum payment from her provident fund to pay for a family members medical bills. Is she able to claim back some of the tax paid over to SARS for the additional medical expenses? She had previously received a lump sum payment on retrenchment, so this is the second lump sum recieved from the fund. She has no other income.

Partnership in rental property - how to declare on my tax return?

Posted 16 March 2022

If I own 50% of a property do I only put my portion of the rental income and expenses in?

Do I need to register for VAT if my income is all export related but my turnover exceeds R1m?

Posted 16 March 2022

I am a provisional taxpayer in South Africa working solely for a foreign company (my services are all export related) with my turnover exceeding R1 million a year. I know that exports are zero-rated for VAT. Do I need to register as a VAT vendor, even though my income would not be subject to VAT?

Should source code 3699 reflect on your cost to company?

Posted 16 March 2022

Does source code 3699 include all employment income, so it should it reflect your cost to company?

Is CGT applicable to Share Option vesting?

Posted 15 March 2022

I've received 1000 share options that vest over 4 years at 25% per year. After the initial vesting on 1 Jan 2022 I have the right to exercise the options, it's likely I will only exercise the options at company exit a few years later. When will I be liable for CGT?

Can I claim against the use of my vehicle if the only code on my IRP5 is 3703?

Posted 15 March 2022

I have used my vehicle for official travel - there is only code 3703 on my IRP5. Can I claim travel expenses in my return?
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