If I am a Sole Proprietor earning less than R59 750 for the tax year, am I a provisional taxpayer?

Posted 20 February 2013

I am a Sole Proprietor (offering consultancy services) who is earning less than R59 750 for the tax year. I'm not sure if I should be registered for Provisional Tax and filing IRP6s or not?

I've paid my provisional tax over to my accountant, what is the next step?

Posted 20 February 2013

So is he doing my tax return or must I do my own tax return?

How can I account for a lost laptop?

Posted 20 February 2013

I've just started up as a sole proprietor and would normally depreciate laptops etc over 3 years. However, this year I lost a laptop that was not insured, and had to replace it. Can I write off the full cost of the lost laptop in this year? If so, would this still fall under depreciation?

I am stuck on the provisional for 2013, what do I need to do?

Posted 19 February 2013

Apparently I have to submit a something by end of feb. I had a permanent job up until August 2012 and thereafter earned money as a sole prop. I dont know how to add the two together surely my ex employer should have submitted a doc for me because I was just PAYE even though I had a provisional tax number.

Pay yourself a monthly salary or pay income tax on profits?

Posted 10 February 2013

My daughter has a internet buying and selling business. It is making good profits and she wants to know whether she should take those profits out as a regular monthly salary and pay PAYE or leave it as profit and pay income tax at the end of the year on it. She is operating as a sole proprietor from home.

Tax on Foreign Income

Posted 10 February 2013

Hi Tim,I've got a new contracting job where I'll be working from SA, but I'll be paid from the UK. How do declare/pay my taxes on these? And do I have to transfer all my funds back to SA?

As a Sole Proprietor - do you need to do annual returns on profit, AND monthly PAYE?

Posted 10 February 2013

If you are drawing a monthly salary from your business being a sole proprietor should you be paying monthly PAYE, as well as company tax on the annual profit? Or should you not be drawing a salary and only live off the profit of your company, but pay annual taxes on the profit?
Also if so, is this provisional tax or annual tax?

PROVISIONAL TAX VS PAYE QUERY?

Posted 8 February 2013

I am a Freelance Art Director, started Freelancing mid Sep 2011. At the end of tax year 2012, I submitted my tax which reflected income from projects that I had under-taken. Some of the companies that I did projects for automatically deducted PAYE @ 25%, although a few of them did not which was also reflected on the tax return. Resulting in me having to pay the shortfall PAYE to SARS per project that did not deduct tax. I was then told that I had to register for provisional tax which I did. MY D...

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Provisional tax, what must I submit?

Posted 1 February 2013

As a provisional tax payer I submit returns from September 2012- 28 February 2013. Am I allowed to submit on 1 March 2013? Do I need to submit receipts/ documents as some receipts have faded. Or is it acceptable to submit a summary of my expenses as I have recorded them?

How to do company tax returns?

Posted 30 January 2013

How many times should I submit the returns for my cc?

Can you help me with Provisional Tax return?

Posted 30 January 2013

I am retired and my income is from Momentum who have invested my Pension Contributions when I retired. I always go to SARS to assist with my Return and was told last year that I am a provisional tax payer because of the savings I have and the interests I receive from these (over the allowed amount). I went to SARS to assist me with my first Provisional Tax Return in August 2012 & had to pay in R1000. I am very nervous to do Period 2 for 2012/2013. Are you able to assist me?

Do I need to submit deductions if total income is less than tax threshhold?

Posted 28 January 2013

Over the past years I went to great lengths to work out all my expenses for my provisional Tax return for my small, part-time therapy business and renting out a small flat. Do I really need to do this even if my total income does not reach the tax-threshold? This question still pertains to last tax-year (ending 28 Feb 2012),

Can I claim back on RA contributions if my business is the payer?

Posted 28 January 2013

I'm self employed, I have a retirement annuity but my premiums are paid through the business.

I live in South Africa, but working for a offshore company.

Posted 28 January 2013

I live in south africa, but working for a offshore company. They pay me a salary/package, but do not deduct any paye/tax from me. I need to sort this out myself with sars from within South Africa

What is the process that I need to follow?

I have not submitted the August return, do I send 2 in February?

Posted 23 January 2013

My tax consultant only now told me as a provisional taxpayer I should have done a return for 2012/2013 tax year in August and a second one in February. It is now late January - so do I send in two returns or just one?

I tried to request a provisional tax return But Status: Awaiting Registration Verification???

Posted 23 January 2013

I've registered as a provisional tax payer as i am a school teacher earning R5 000 and I earn commissions that add up to around R15 000 pm. I cannot get the return to fill it out though. Says Status:
Awaiting Registration Verification

Supporting documents - what if they are not submitted on time? I uploaded and forgot to submit?

Posted 21 January 2013

Hi Tim, great website and good gen. SARS phoned me asking for a schedule of my deductions. I uploaded it and forgot to click on 'submit', then received a second assessment disallowing the deductions - probably because I didn't submit the document.

What do you suggest? If I lodge a notice of objection, will they allow the late submission of the document? How much should I explain to them - fall on their mercy regarding my mistake, or just assert that I am entitled to the deductions? <...

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How do I proceed with a tax directive? (One associated with my ex employer & from the pension fund)

Posted 16 January 2013

I retired on 30th June 2012 and received a SARS Tax Directive that states that "tax amounting to R0.00 is to be deducted from the gratuity / lump sum payment of R308732.65." What use does one make of this tax directive? Am I correct in assuming that this amount is to be subtracted from Income received (Codes 3697 & 3698). Is it still possible to submit my return via the provisional tax electronic medium; or will I now have to file a return manually at the end of February 2013?The p...

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Please advise cost if you completed my annual tax return and provisional tax returns?

Posted 15 January 2013

Please advise cost of completeing my annual income tax return and also provisonal tax returns

What is the last date for submitting my tax return?

Posted 14 January 2013

I would just like to know what is the last date for submitting your personal tax forms?

Is the sale of a business taxable?

Posted 7 January 2013

If I were to sell a business, would I pay tax on the sale price? and if appropriate, how would this tax be calculated?

Am I a provisional taxpayer if I work freelance?

Posted 3 January 2013

I'm a freelance writer earning very little, in fact I might just be over the tax threshold of R58k in the coming year. Do I have to register as a provisional taxpayer and do I have to pay 18% up front for the next tax year? (I've done 2011-2012, I was below the R58k)

How do I restart the TaxTim questionare?

Posted 21 November 2012

I have changed my status from provisional taxpayer to PAYE. The questionnaire asks me questions relating to source codes eg. 2006, 4002 etc which are not on my IRP5 form. What should I do?

ITR12 and Provisional Tax, how does it all work?

Posted 20 November 2012

Hi Tim, I am registered as a provisional tax payer as I run a sole prop but I am also registered for PAYE as I am employed by a CC I am a member of and I draw a salary. The ITR12 takes into consideration only the PAYE and UIF paid but not the provisional tax paid. Will SARS make the connection that the amount showing as owed on the ITR12 for the provisional tax has already been paid when I submitted my IRP6's? The amounts are correct (what the ITR12 says I owe and what I actually paid as provisi...

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PAYE threshold and small business TAX, how does it work?

Posted 20 November 2012

I hope you can help me - my question is two-fold. My wife was working for the 2011/2012 tax period earning R3000-R4500 (as a salary). Do we need to submit a tax return for her? Since June this year she has started her own photography business from home (her only income) - we keep track of all expenses etc. Does she pay tax on the income or on the profit she makes? Does she need to register as a provisional taxpayer (the company is not registered & she trades under her own name)? If so is it ...

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