Should an annual salary be used rather than monthly on the calculator to ensure that a bonus is incl

  Written by Marc   Posted 25 March 2014

The TaxTim SARS income tax calculator does not make provision for a bonus/13th cheque. Should I just put the total salary including the bonus as an annual salary?

Tax reliefstructure salary for tax purposes?

  Written by Marc   Posted 25 March 2014

I pay medical aid for myself and 2 dependents

What deduction can I take monthly from my salary in this regards

The medical aid payment if R7000 a month as one of the dependents is over 21

What other benefitdeductions can I make on my salary to save tax ??

Can I pay tax in advance (est) without complicated forms.Then do forms annually and pay difference

  Written by Marc   Posted 24 March 2014

I always need to pay money to tax at the end of the year. I know it is about R 12,000. Or R1000 pm. Why can I not pay in say R1000 pm Estimate without filling in complicated forms, then fill in complicated forms once a year. I.e. pay in what I think monthly. i.e. accumulate tax credits via payments ahead of the final annual analysis.. i.e. just pay initially when I can afford, and pay in the difference after completing complicated forms at financial year end.

Provisional Tax Calculations?

  Written by Marc   Posted 24 March 2014

Hi there. I will as of the 1st of May 2014 be employed as an independent contractor to a company in Israel but will be based in JHB. Will I have to file provisional tax and how is this amount calculated?

I have still not received my refund from SARS, what could be the reason?

  Written by Marc   Posted 24 March 2014

What can be the cause to my tax refund being frozen?

To register as an employer for tax purposes or not?

  Written by Marc   Posted 23 March 2014

If I employ a person who earns below the threshold, does the employee need to register for Income Tax or is it optional?

Do I need to fill out a EMP201 form regardless?

If I employ cleaning staff twice a week, would I have to have a EMP201 form or not?

Need to know what my deductions are before my earnings of R20500.00

  Written by Marc   Posted 23 March 2014

My new salary is R20500.00- thats what I get out. What will my deductions and PAYE be ? -GROSS SALARY?

Residents based tax - how does it work in SA?

  Written by Marc   Posted 22 March 2014

Hi Tim. I am currently a South Africa provisional taxpayer but will be leaving SA to work for a US based company for the next 5 years . I will be leaving on the 30 June 2014 but will receive a pension payment commencing 1 July 2014 from my current employer for the next 5 years payable in South Africa . I will also receive a bonus in December 2014.

I will be out of the country for more than the 183 days as well as the 60 day consecutive period . My question is as follows :

1. Is the monthly pension taxable...

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My tax number is lost?

  Written by Marc   Posted 22 March 2014

Need my old employee tax number please?

I earn a salary of R5350 R1519 of overtime no benefits, how much must I pay for PAYE tax?

  Written by Marc   Posted 20 March 2014

salary of R5350+R1519 of overtime no benefits, how much must I pay for paye tax?

salary of R5350+R1519 of overtime.

  Written by Marc   Posted 20 March 2014

Am earning net salary of R5 350, and getting overtime of R1 519 a month. What how much must I pay for paye tax?

Do I pay paye tax on my salary including overtime or on salary excluding overtime?

Can I request a correction after ITR14 submission?

  Written by Marc   Posted 20 March 2014

I've submitted my ITR14 on 28 Feb 14, but then received a massive supplier invoice which would increase my COS & this would then decrease my PBT in essence I would qualify to get a refund from SARS, can I request a correction?

Does devaluation of the rand cause a tax liability?

  Written by Marc   Posted 19 March 2014

If my overseas holdings increase in value solely due to devaluation of the rand, is such an increase taxable?

Tax on Voluntary Severance Pay?

  Written by Marc   Posted 19 March 2014

How is an employer suppose to handle a voluntary severance payout? What options must be chosen on application for tax directive. Does this falls under "Gratuities paid by an employer in respect of retirement, retrenchment or death" and will I be taxed accordingly?

Selected for a SARS audit?

  Written by Marc   Posted 19 March 2014

How to avoid being selected for a SARS audit?

Medical Tax Credit - 2015 Tax Year

  Written by Marc   Posted 19 March 2014

2015 tax year.

I pay R150.00 per month toward a medical aid fund for myself and my daughter (6 years).
Do I qualify for the full monthly tax credit of R257.00 X 2 = R514.00 or will this be limited to my actual monthly fund contribution?

Do I need t pay the non-compliance penalty fee with SARS?

  Written by Marc   Posted 18 March 2014

I registered with SARS in 2010 and have been filing ever since. I recently received a non compliance penalty fee for 2008 and 2009. It's only R500 (R250 for each year) Do I have to pay this if I wasn't even registered in those years and did not receive IRP5's from my employer then either?
I managed to get the IRP5's and I filed them last week but still am being told I need to pay the penalty fee.
If I am going to dispute it, will I be charged interest or more penalties whilst it is busy being disputed?...

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PAYE incorrectly stated on my IRP5?

  Written by Marc   Posted 18 March 2014

I submitted my tax returns via eFiling and got an assessment saying I owed SARS. The reason was PAYE incorrectly stated. How can I dispute this assessment and is it possible that you can assist?

Income tax on R120000 pension fund payout

  Written by Marc   Posted 18 March 2014

I resigned from my previous company and requested that my pension fund pays out. the amount due to me is R120 000. how much income tax will I pay on this amount.

Total of the budget speech 2014

  Written by Marc   Posted 17 March 2014

While I was busy watching the budget speech our power went down and I missed the part where the
minister of finance stated the rand value of the 2015 budget?%u20AC%u2122s income in total as well as where all of it
will come from. Can you please inform me on how much money the government budgets it will have
for the 2015 year of assessment as well as how much of this money will be covered by individual
income tax? Will you also tell me what government sector will receive the biggest cut of the budget ...

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Medical aid contributions and subsidies for over 65 years. how are these treated in 2015 year?

  Written by Marc   Posted 16 March 2014

76 year olds. medical aid contributions deductable? and medical aid subsidies taxable? 2015 tax year.

What sort of tax should I register for as an independent IT contractor?

  Written by Marc   Posted 14 March 2014

I'm an independent IT contractor working from home. I work for different clients at the same time. Some pay a fixed fee.

What sort of tax should I register for taking into consideration that I use my house, electricity, internet, etc?

Deemed disposal of assets after being away from SA for work?

  Written by Marc   Posted 14 March 2014

I have been given the advice that I would automatically be considered a non-resident if I spend more than 183 days and more than 60 consecutive days outside of South Africa by SARS and would therefore have my tax status changed to non-resident. SARS would then deem my assets as sold (even though I have not actually disposed of them) and I would be liable to pay CGT.

Is this the case?

Is tax payable to the government from the salary I earn in South Africa?

  Written by Marc   Posted 14 March 2014

I am going to work in South Africa. Is there any money I have to pay to the government from my salary.

What can I claim for medical expenses under new system?

  Written by Marc   Posted 14 March 2014

Under the previous system pensioners could claim all expenses. Now my expenses come to R110 000 this year. Am married and would like to know under under new system what would I be able to claim. I am 80 years old
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