What will TaxTim cost?

  Written by Marc   Posted 25 November 2015

Hi Tim, I am 68 years old, and employed full time. I receive a salary of R 20,000 per month before tax. I receive an annuity payment of ±R 650 per month and also receive dividends and interest (way below the allowable). I have been paying my bookkeeper ±R 1400 per year in fees for submitting my tax returns. With your system, I do it myself with e-filing?
What does this cost (i. E. How much do I pay you)?

I am a provisional tax payer with an employee - I want to give him a bonus for December -

  Written by Marc   Posted 25 November 2015

I am a provisional taxpayer with an employee - I want to give him a bonus for December - does he pay paye/uif on this?

Lump Sum Retirement Fund deposit no longer accepted under SARS code 4006 in reassessment

  Written by Evan   Posted 25 November 2015

Hi. My 2013 tax return was reviewed this tax year and adjustments made by SARS to my Retirement Annuity fund which has now left me owing SARS a large sum of money where the original assessment actually gave me money back. If I compare the original ITA34 to the new one I can see that the previous SARS code 4006 which had an amount counted as part of my deductions now in the new ITA34 reflects as R0.

A bit of background to this is that I changed employees and my new employer did not offer a pension fund so I instead redirected these funds to my retirement fund...

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Why file a tax return?

  Written by Marc   Posted 25 November 2015

If you advise filing a tax return why do SARS say you shouldn't? I have been told by them not to.. I make minimal money at a very part time job. I do earn interest. I do have quite a few investments in my name too.

Medical aid supporting docs

  Written by Marc   Posted 25 November 2015

Hi. I have claimed for medical aid contributions and excess medical expenses out of pocket. SARS is auditing me, do I have to submit the actual slips for the out of pocket expenses (i. E. Every consult invoice and proof of payment)? Or is the summary from the medical aid (which shows claims and what was not covered - it has both full claim amount and out of pocket expense numbers reflected) sufficient?

Medical tax credit change upon SARS review, can you help?

  Written by Evan   Posted 25 November 2015

I calculated that since my wife and kids were on separate medical scheme and that I was contributing towards this I would be entitled to a refund, which appeared on SARS eFiling as such. However SARS subsequently requested my tax documentation and reversed the same credit that was in my favor to me now owing them?

Can you help with this?

Want to know when SARS is paying my money; October has passed..

  Written by Evan   Posted 24 November 2015

I already file via SARS was suppose to get my money in October even, now I don't know what happened to the payment...

How do I calculate Rental Income?

  Written by Marc   Posted 24 November 2015

How do I calculate rental income? Is this calculated as follows or is it different? Rental Income = Bond Repayments - Rental income. If it is positive it will be a profit, if negative it will be a loss?

Steps to obtain an ITA34

  Written by Evan   Posted 24 November 2015

I am a sole proprietor and work for the last 4 months for my self. I take an income of R30 000.00. How do I get a ITa34 that the banks requested for a loan?

Where do I enter funds received from a retirement plan?

  Written by Evan   Posted 24 November 2015

Where do I enter funds received from a retirement plan?

24h waiting period for registration on SARS efiling

  Written by Evan   Posted 24 November 2015

I have done my registration on SARS SARS eFiling, but now when I log in a message appears that I have to wait 24h for SARS to process my application..... I've done that 5 days ago. Just want to now if I need to send anything away, thinking the delay is my fault?

Cash co-payment on medical procedure

  Written by Evan   Posted 24 November 2015

Two questions relating to medical aid expenses:

1) I paid ~R5000 cash copayment for a medical procedure. Can I claim this medical expense on my tax return?

2) If I have medical aid gap cover can I use the total premium payments for the year as additional medical expenditure?

Why must I go into SARS branch again - I was just there

  Written by Evan   Posted 24 November 2015

I went to SARS on 13 November and got paid out on 18 November. Which is good work. I took my necessary documents, certified copy of my ID, proof of banking. Now today 24 November they phone me to tell me I must come in with the same documents to verify my banking. I was just there.

When am I getting the refund for late husband's deceased estate?

  Written by Evan   Posted 24 November 2015

In August I submitted my late husband's IRP5 and I was told that I am going to receive R2100 for the year 2015. They told me that its still going for an audit.

What should I do because I am still waiting for that money. And when you call them you keep on holding until the airtime is finished without being helped. What do I need to do?

Latest date to complete registration for e-filing

  Written by Evan   Posted 24 November 2015

What is the latest date to register for e-filing? I've submitted my documents to SARS on 20th November.

Learnership tax return

  Written by Evan   Posted 24 November 2015

SARS says that I have an outstanding tax return for 2010, I was on a learnership through BankSETA which did not contribute for PAYE and UIF, the stipend was R2500 a month. I see no historical tax return on SARS eFiling for that year but SARS consultants are adamant that I do the tax return. I received a UI-19 document from BankSETA stating it was a learnership and there was no UIF and PAYE. Should I take this document to SARS and will I need any other supporting documents?

Do all provisional tax payers pay twice a year?

  Written by Evan   Posted 24 November 2015

I am sure I am a provisional tax payer, however, I have only paid tax once a year in the past. Is this right?

Declaring financial derivative gains on the ITR12

  Written by Evan   Posted 24 November 2015

I earned income as the result of trade in financial derivates. I am not a professional trader and do this in my spare time. How do I declare this on the ITR12 and how do I claim expenses against this income? Is this defined as a business or as investing and capital gains? I used my home office and own equipment for financial research and online trading. In a previous answer you stated that this type of income can be declared on the ITR12 but somehow I missed it in the TaxTim Q&A process. When I ...

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Medical aid claim for claims submitted after year end

  Written by Evan   Posted 23 November 2015

Hi. I submitted a medical aid claim after the tax year end for a procedure which was done in February 2015. Medical aid only paid a portion of the claim due to the nature of my medical aid plan. The amount not paid for by the medical aid is not reflecting on my medical aid tax certificate for 2015. I do have the original invoices. Can I add it on my tax return for this year or only next year?

Refund not received yet

  Written by Evan   Posted 23 November 2015

Good day. Done my SARS E-filing. Got confirmation of a credit of a couple of hundred rands due to me. This was quite a few weeks back. I haven't recieved any refund yet. What should I do, wait a while longer?

Provisonal tax versus monthly tax

  Written by Marc   Posted 23 November 2015

I am currently an independent consultant and I know I currently qualify as a provisional tax payer. Is there a way of paying my tax monthly (as a normal employee) by myself without having to pay the two major payment twice a year?

Can you assist with complicated tax return, involving extra income, provisional tax etc?

  Written by Evan   Posted 23 November 2015

My situation is pretty complicated. I am a provisional tax payer. I earn extra income for 3 properties, but also from a side business. All goes through my own personal bank account, so it is personal tax all of it. I am fully employed, however I was retrenched in 2014 June. I have an income protector and claimed from it for 2 months, until I started work again in September 2014. I have retirement annuities, medical aid etc.

Am I able to use your services effectively and accurately in...

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Verification of income tax declaration

  Written by Evan   Posted 23 November 2015

I have submitted my tax returns and they called for my 2013 tax return which I did, they then called for verification of income tax declaration for the PAYE amount. I then went to SARS to submit my IRP5 from 2013 to show them proof of my PAYE amount. This isn't a real complex case all they need to verify is my PAYE amount.

How long will it take them to pay out my refund with regards to the above case?

Out of pocket medical expense of R3920. Will that help my refund?

  Written by Evan   Posted 23 November 2015

Out of pocket medical expense of R3920. Will that help my refund? I have no medical aid.

IRP 6 (3) - TOP UP TAX FORM

  Written by Marc   Posted 22 November 2015

Does your Provisional Tax Product include the  IRP 6 (3) which I understand is the form required for the 'top-up' tax?
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