Big trouble! SOS

  Written by Marc   Posted 4 June 2013

Hi Tim - I stumbled on this website today and it looks very helpful!Owing to a number of reasons beyond our control and sheer overwhelm by a 'black swan'-type situation since 2005, both my husband and I were not able to resolve our business and personal tax situation to date. Could we use TaxTim to complete Tax returns backdated to 2005?Hope you can help!

How does tax work for freelancers and part time workers?

  Written by Marc   Posted 3 June 2013

I am a freelance photographer, part time lecturer at two colleges and I facilitate some photography short courses. How do I pay tax? What tax do I pay?

What is an ITR14, who should complete this, and when is this completed?

  Written by Marc   Posted 30 May 2013

Hi TaxTim, Who should complete and when to complete an ITR14. What exactly is an ITR14, and how different is this from an IRP6 Provisional Tax Return?

Can Doctors Register a Company in South Africa?

  Written by Marc   Posted 28 May 2013

For a doctor running a private practice in South Africa, can a company be registered and will this be a benefit in terms of tax implications as compared to a sole proprietorship?

How my tax do I pay if I start a business along with my regular job?

  Written by Marc   Posted 28 May 2013

I am employed full-time. How do I calculate the tax that I need to pay for the money I earn working freelance? And where do I pay it?

Executive Director only received remuneration and bonus - how do his salary been tax?

  Written by Marc   Posted 22 May 2013

Does SARS seen the Director as a Provisional Tax Prac?How much paye will the Director pay on his SalaryAccording to Pastel Payroll they took his Estimated Annual Value into consideration when they worked out the Paye - is this correct?

When can I submit my provisional tax forms?

  Written by Marc   Posted 10 May 2013

I am a provisional taxpayer

SARS requested additional documentation but didn't tell me

  Written by Marc   Posted 10 May 2013

I am a provisional taxpayer... I work freelance and my income fluctuates. I've been doing my own tax through efiling for several years now, and have never had a problem. So this year, I send off my return on January 29 (yes, I know, leaving it till the last minute... every year I
promise I won't do that!!), and my assessment comes back, I'm owed R120.56. The amount is so small because I actually already did all the calculations in order to make my third provisional payment by the September deadline, so as not to incur any interest....

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Do I pay tax on extra monies earned?

  Written by Marc   Posted 8 May 2013

My wife earns a basic income of R2975 per month. This is not taxed due to the tax bracket.
She however, also gives dance classes 10 months a year in which she earns an additional R8330 per month.
It costs her R1650 in petrol and vehicle maintenance per month to run the classes.

How much tax should she keep out monthly to pay SARS what is owed to him?

I wish to register as a tax practitioner, how do I do this?

  Written by Marc   Posted 16 April 2013

I need a tax practitioner code to be able to submit tax return on behalf of customers.

What tax do I need to pay?

  Written by Marc   Posted 14 April 2013

I've got 4 small businesses that are not registered. The money comes into my personal bank account. I earn around R30 000 a month. Must I pay personal tax on the whole amount I get in every month or can I deduct the expenses used for business? I do not include any VAT on my business invoices, but I do spent money for business purposes.

I would appreciate it if you can help me with this!!

How to calculate provisional tax?

  Written by Marc   Posted 8 April 2013

When a company is a few months behind on their books (Nov 2012), can I either use an estimate from the 1st return (Aug), or even a 8-10% calculation above the 2012 returns, or figures just to get the provisional tax in? I'm still new to provisional returns - is the second (Feb) return's figures the TOTAL of the year, or the difference between the total and Aug's figures, i.o.w. the two returns should be the total? Thank you again!

I would like to know whether I am liable for Provisional Tax?

  Written by Marc   Posted 6 April 2013

I am under 65, DONOT PAY ANY TAX as my taxable income is under R67111. I have investment accounts and according to latest IT3 B statement, interest has accrued to R21000.00. Before this figure increases the R22800.00 threshold should I register as a provisional tax payer.

My employer is not registered for Employees' Tax, what can I do?

  Written by Marc   Posted 26 March 2013

I am working as a p/a and store manager to a sole proprietor. She is not registered as an employer and does not intention to register. No tax is deducted from my salary - what should I do?

Should I be submitting a return now for 2013 as a provisional tax payer?

  Written by Marc   Posted 25 March 2013

I've submitted my 2012 tax return last year as an individual taxpayer. After which I started freelancing midway through August. I was on a six month contract with my ex-company (which ended on 31 January) where they deducted the tax for me, but have also been doing work for other companies/individuals that I would have to pay the tax on. My question is, should I have submitted a return before the end of January to pay in at the end of March? If yes, what do I do now to stay tax complaint?

What form must I file with SARS, an ITR12 or an IRP6 ?

  Written by Marc   Posted 22 March 2013

I bought an appartment in April 2012 and rent it out. My total income (April 12 to Feb 2013) is R46,000 and my expenses (interest, levies, etc) are R41,000. Total income :R5,000 I haven`t registered myself as a provisional taxpayer. So what should I do for the 2013 Tax return ?
Should I reflected those number on my IRT12 ? or should I register myself on IRP6 ? or should I do both ?

What type of business entity would be the most tax efficient for forex trading?

  Written by Marc   Posted 17 March 2013

I am considering doing forex trading professionally and would like to know what would be the best business entity to open a trading company from a tax perspective. The choices I have to my knowledge are a Sole prop or private company.

Your advice would be greatly appreciated.

Can you complete one return for both salary and provisional income or do they need separate returns?

  Written by Marc   Posted 17 March 2013

Is the provisional return a separate one to the salary return or can they be done together?

Provisonal Tax

  Written by Marc   Posted 17 March 2013

Good morning From the 2nd of may I will be retired and will only earn income by way of 2 pension pay-outs from different employers. Must I register to become a provisional tax payer.

Depreciation on cars, how does it work?

  Written by Marc   Posted 12 March 2013

Your depreciation calculator - is it up to date in terms of percentages allowed etc?

Second question - I am a sole prop. I know that I can deduct business expenses (not permanently employed), but I am not sure about the installment that I pay for the vehicle (HP). Can I deduct for tax purposes since I use the car for business.

Last question - if the above deduction is allowed, can I also add depreciation of the vehicle to the 'basket' or is it a matter of either or?
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How do I go about getting a tax number?

  Written by Marc   Posted 12 March 2013

I am an SA citizen, and have just moved back after living in the UK for five years. I have never had a tax number. I am opening a small consulting firm and need a tax number to register my business with SARS. What information should I supply on page 2 of the IT77 form? Any advice on how I could go about getting myself a tax number then registering my business with SARS would be great?

Can I give myself a salary if I run a sole proprietor?

  Written by Marc   Posted 12 March 2013

I just need to find out if I can deduct a salary for myself as a business expense? please can you assist.

I am employed as a temp but have started another side income. how much tax?

  Written by Marc   Posted 10 March 2013

My income after my UIF and tax is R7 950. And any over time I work is taxed per hour. Last month my nett was R11 200.

I also sell corals to pet shops that I grow out at home. Some months I make R0 and other R5000-R8000 after costs like electricity and material.

Now the pet shops have now asked if I can give them some type of paper work for them to keep records for tax ect.

What should I do to help with tax payment? Have a different account just for the side income? How much tax would I pay if I get paid in cash but still have to give the pet shop a paper work that could be traced back to me? ...

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What company returns must be submitted to SARS?

  Written by Marc   Posted 5 March 2013

Please can you help me I am a bookkeeper for a small company but get rather confused by what needs to be submitted by when by the company to SARS.

Where can I get a list of the items that I'm allowed to claim for as a sole proprietor?

  Written by Marc   Posted 1 March 2013

I know about things like rent, telephone, internet, stationery, etc., but what else?
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