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Latest Posts in Tax Q&A

Can I submit a return without a IRP5?

  Written by Marc  

Can I submit a return without a IRP5? I received an IRP5 earlier in the year but have since left the company and no longer have it.

Problem with IRP5 details on ITR12

  Written by Marc  

My Employer (A Church), did not submit my IRP5 for tax season 2013. The person responsible (the Financial Treasurer) actually died of cancer in February 2013. So, this is my predicament: When I wanted to do my ITR12 On eFiling, there was no IRP5 details on my ITR12.

My question is: What is the correct protocol that I should follow to rectify the situation in order to get my ITR12 filed before the deadline on Friday 22 November. Can I fill in the IRP5 detail on the ITR12 myself?
<...



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PAYE calculation for R26 800?

  Written by Marc  

How much tax does one pay if he earns R26800 per month cost to company?

Can eFiling be used for more that one person

  Written by Marc  

I am doing my son's tax returns for him. I am registered on eFiling for my business, my son does not work for me can I do his tax return on my eFiling account?

Property tax deductions and CGT implications?

  Written by Marc  

If Property A was purchased in 2000 and used as primary residence up until 2012, then rented out for a year (due to work relocation to another province) and property then sold with a capital gain?

If property A above was re-bonded[currently settled], can the bond interest be deducted against its rental income or will bond finance interest on a 2nd property, to be used as primary residence, be allowed to be deducted against Property A's rental income?

IRP5 2011&2012?

  Written by Marc  

Can I still submit for 2011 and 2012 even though 2013 is already been taken care of and if so will I get refund or penalty or maybe both?

Donation from brother, how is this taxed?

  Written by Marc  

My wife's father died last year, and her brother was the only person in the will, so he inherited all the money. He decided to split the money with my wife and gave her R290 000, paid into her bank account. The brother did not submit an IT144. What does SARS want to see on my wife's ITR12 now when she submits in November. Also how much tax is due, and who must pay it?

Unemployed- Not to be employed but want personal tax number. Possible?

  Written by Marc  

I need a personal tax number, but I've never been employed and don't plan to be (I'm self employed). Is it possible to obtain one?

Please help,
Thanks

Do I have to register for tax of I earn a salary of R69 000 and interest of R3000?

  Written by Marc  

If I receive an income of about R69 900 per year as a salary and interest of about R3 000 per year. Do I have to register and fill in income tax forms on e-filing? What is the closing date for individuals?

When must you do your first tax return?

  Written by Marc  

If my friend earns just under R120 000 pa & is registered for tax but has never register on eFiling nor ever completed a tax return, when must she do her first tax return?

When can a retired person stop completing a tax return?

  Written by Marc  

My mother used to work but has retired & does not get a pension because my Dad is still working. Her only income is about R400 for the yr in interest. She used to complete a tax return each year. How can she stop completing a tax return each year?

S10 exemption - how to disclose income on SA tax return?

  Written by Marc  

While working on a cruise ship - we get a salary + uniform allowance + commission. but seeing that the section 10 exemption will be meet how do we disclose this on the SA tax return? Just one amount or disclose each separately?

Medical deductions, what are we allowed to deduct?

  Written by Marc  

What is the definition for 'qualifying out-of-pocket' medical expenses ? So, what qualifies ?

Notification of tax registration with SARS?

  Written by Marc  

How do I check if I'm registered as a taxpayer by my previous employer?I never recieved a notification of registration.

Offset maintenance for Capital Gains Tax?

  Written by Marc  

Can one offset maintenance to property for CGT?

Why cant I get any tax refund when I have medical aid?

  Written by Marc  

hi Timam worried cause its my second year of submitting tax returns and I still got nothing,my employer pays 60 percent of my medical aid and also contributes to my pension fund,i have stopped paying for my retirement fund 5 years ago.all my colleagues get something except me,at the moment I owe SARS R180.00,where does it come from,with medical aid and tax contributions I believe I deserve something.I have finalised my divorce 12 months agopls help me understand

Do I sumbit a tax return?

  Written by Marc  

How do I know whether I need to submit a tax return? I am registered but have never submitted a return. I find the sars website a little confusing as they state: 'You are liable to pay income tax if you earn more than R63 556 in the 2013 year of assessment, and are younger than 65 years of age. ' BUT also state: 'What is the threshold for the non-submission of ITR12 returns for individuals for the 2013 year of assessment?Although a taxpayer still has to register for income tax he/...



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Are insurance premiums a tax deductions from a business?

  Written by Marc  

As a sole proprietor, can I deduct insurance premiums on electronic equipment as an expense? (3x computers I use to carry on my trade as an animator)

Medical Deductions - Source Codes 4040 and 4020

  Written by Marc  

I have incurred medical expenditure for the tax year ?%u20AC%u201C I have bills that I paid out of my own pocket, which my Medical Aid did not cover adding up to R7122 and I have an Income Tax Certificate from my Medical Aid with the amount of R6686. Also there are amounts on my IRP5/IT3(a) Employee Tax Certificate next to the codes 4005 and 4474.
Questions:
1. Should my bills add up to the same amount that appears on my Medical Aid Certificate?
2. Do I leave code 4040 blank and ...



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Must IRP5 be part of supporting docs?

  Written by Marc  

I do not have a copy of my IRP5, it was however submitted to SARS as it reflects on eF.Sars asked for supporting documentation, can I just submit the med certificate and logbook or must I get a copy of the IRP5 as well?

Am I a provisional tax payer?

  Written by Marc  

If I earn less than R20 000 a year selling AmC pots plus earn a normal salary do I have to register as a provisional tax payer?

How to verify tax number but I'm away from South Africa?

  Written by Marc  

Im living abroad for a few months and before I can get paid (I'm a freelance photographer ) I need to have my tax number verified, but I'm in Germany and will be here for a few months perhaps even longer.
otherwise they will deduct 30 percent.

deposit into my bank a/c for someone else

  Written by Marc  

I am a provisional taxpayer, I have a son that does not have a bank account and his salary gets deposited into my bank account. Will this affect me in any way or should he get his own bank account?

When completing the amount by code 4006 do you include the amount from your IRP5 next to code 3697?

  Written by Marc  

When completing the amount by code 4006 do you include the amount from your IRP5 next to code 3697?

Minimum income required before I submit tax return?

  Written by Marc  

What is the income threshold for paying tax for 2013?
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