Question is am I applicable for a tax number when doing forex trading
Posted 14 October 2015
I am 18 years and I have decided to start doing forex trading and I found out that I need a tax number. Question is am I applicable for one?
Email address to submit IRP5 corrections to SARS
Posted 14 October 2015
I have submitted my tax form incorrectly, please can you send me an SARS email address to forward and attach the correct documentation along with a letter.
Where do I obtain my own IT3 a form?
Posted 13 October 2015
I am the only member of a CC. I am self- employed. I need to issue myself with an IT3a form. How do I do this? I have been drawing a small amount from the profit when there is one. I do not draw a salary. SARS is requiring this document for each year I have submitted.. Since 2010. I am confused about this requirement.
Going in to SARS or not?
Posted 13 October 2015
SARS has asked me to provide documentation to verify my baking details, and there is a paragraph at the bottom of the letter saying "Should you be required to provide relevant material to verify your banking particulars you are requested to submit it at your nearest branch within 21 business days, for all other verifications your relevant material may electronically be uploaded via e Filing. "
Is there no way to do this through SARS eFiling or do I need to brace the long branch queues...
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How long for money into my account from SARS as my refund?
Posted 12 October 2015
Hi my accountant rang me fri to let me know he's asked for money to be paid into my account as everything is finalised how long does it take please?
Full-time student, earn below tax bracket can I be taxed 25% per promotion job?
Posted 12 October 2015
Hi TaxTim,
I am a full-time student and work for a company during my free time where I do odd promotions in a month. I am earning below the tax bracket and I am being taxed 25%. I get taxed on jobs where I earn R350, R500, and R800. My question is should I be taxed even though I am way below the tax bracket? And how does it work with the tax if I do not have a tax number and the company have deducted tax but have not given pay slips yet? Can I be exempt from paying tax on a R350? What happ...
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Do I get anything for contributing on tax?
Posted 12 October 2015
I Have been working for the company on contract and my monthly salary was 10. 000 and I have been paying 700 tax every month and now the company is terminating my contract will I be getting anything from SARS? or I will only get UIF?
Car Allowance Capped / eFiling adjustment considered.
Posted 9 October 2015
Dear TaxTim. I only recently realised that SARS have been capping my yearly travel allowance (code 3701) at R66,000 which is my monthly car allowance x 12. Thanks for your feedback on that. I do however qualify for an allowance of R100,000 per year based on value of the car and log book total vs. Business km's. When doing my onlie eFiling, the system did allow me to reduce 3601 Income and increase 3701 by the same amount that I decreased the income 3601. I am hoping that this will then prevent m...
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My tax number please for work?
Posted 9 October 2015
I'v got a new job,now they want me a tax number,I don't remember it.
Just want my tax no
Posted 9 October 2015
How do I get my tax no?
SUBMITING A REVISED ASSESSMENT WHEN THE AUDIT HAS BEEN FINALISED AND THE REFUND PAID ALREADY
Posted 8 October 2015
i submitted my 2015 tax return, and was selected for audit. the audit has been finalised and the refund was paid. however now i just realised that i for got to declare some information on my tax return. is it possible for me to re-submit the tax return again.
Meaning for source code 4102 , a PAYE Credit of R13808,30 has been assessed against your.
Posted 8 October 2015
Meaning for source code 4102, a PAYE Credit of R13808,30 has been assessed against your ITR12 tax return. What is the meaning?
What are those supporting documents that I need to submit
Posted 8 October 2015
I have received an email from SARS saying my income tax has been identified for verification and I must submit my supporting documents on my SARS eFiling. What are those supporting documents that I need to submit, if I don't have invoices,medical certificate or travel book. Is it the IRP5 still a supporting document?
Audit Review
Posted 8 October 2015
Hi Tim
I was retrenched and received my provident payment in March or April 2014 so now for 2015 submission I submitted the provident IRP5 and I also started with a new company in October 2014. The provident fund irp no tax was deducted but for my new employer there was but is was for total income less than R75000 for the 4. 5 months. I filed my tax return and now I received a letter for Audit review. From the looks of the calculation it seems SARS needs to refund me, how long does th...
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Where do I find the Registration form to fax to them as they are requesting it with my ID
Posted 7 October 2015
Where do I find the Registration form to fax to them as they are requesting it with my ID
What are the requirements for a new company tax clearance certificate?
Posted 7 October 2015
What are the requirements for a new company tax clearance certificate?
Refund tax
Posted 7 October 2015
I recieved a sms on 22/09/2015 of a refund who can I go about
Check if audited
Posted 7 October 2015
Will you check if I am being audited and if how much is due to me?
Why has SARS not given money up to now?
Posted 7 October 2015
I submitted and received a message that SARS gave me money and released into my account, but it is more than two months now and the money is not there. Help!
Will I eventually get the money owing to me or will there be another problem
Posted 6 October 2015
I have money due to me by SARS. After phoning and requesting why my money was not paid to me I had to go in with 3 month bank statements, certified copy of my id and proof of residence. After still not getting the money due to me I was told to email SARS stating I was not working 2008 and 2009. After doing so I received a call saying I now need an affidavit stating I wasn't working those years. I now have to go back and sit in those queues. The funny thing is the last 3 years I owed them money t...
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No IRP515 = no tax refund
Posted 5 October 2015
I was overseas studying for tax years 2010 and 2011 and therefore didn't have IRP5s for those tax years. However, I did have income in the form of rental income but for both years I made massive losses due to expenses, high interest rates, bad debts etc. Does the lack of IRP5 automatically disqualify me from any refund due to me by SARS?
Retirement Benefit of R500,000 Tax free
Posted 5 October 2015
How do I take advantage of the R500,000 tax free portion AT RETIREMENT? I was retrenched at age 54 and paid full tax on my retrenchment lump sum. Now that I am 56 and would like to retire on the funds in my pension preservation fund, I do not understand why the tax directive on the first R500,000 from my preservation fund was taxed. I have NEVER retired before so I should have the full R500,000 tax free ON RETIREMENT?? Numerous calls to the SARS call centre have me confused between benefits at ...
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SARS issuing re assessment notice more than 5 years after the actual year of submission
Posted 5 October 2015
Received notification from SARS to supply proof of expenses claimed on personal tax return for the 2009 years, which was already assessed, re assessed by SARS in Nov 09 and April 2010. Outstanding fees were duly paid in Nov 09. All proof of expenses were duly supplied. IS SARS allowed to re assess again in Sept 2015?
SARS has also request the same for the 2010 year, 2010 was assessed and no proof of expenses were requested. A refund of -R6k was paid over by SARS to me. IS SARS allowe...
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Pension fund reflects payout but it was moved to a preservation fund.
Posted 5 October 2015
When I left my previous job I moved my pension fund to a preservation fund. I did not do my 2014 taxes and now when I go on SARS eFiling my IRP5 seems to reflect that I was paid out the money from my pension fund. I'm not sure what I'm supposed to do now. Would signing up for your service show me the steps I need to deal with this on my 2014 tax return?
Should my IT77 Income Details section exclude business expenses as a I'm self employed?
Posted 5 October 2015
I am only just registering for a tax number and completing the IT77, but under the section Income Details, it states to declare taxable income. I'm self employed, so I'll be making manual contributions, which to my knowledge is minus expenses. So, my question is, in this section of the form, should I declare my gross income, or only my income after business expenses?
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