S10(1)(o)(ii) - does all the time out of SA need to be spent actually working?
Posted 25 January 2015
I am a freelancer, and last year I spent 248 days out of SA, in three blocks (including one block of more than 60 days). During some of this time out of the country, I did some contract work - two jobs for two different foreign companies, and one job for a South African company. But I spent much of the time not actually working, but travelling/holidaying. Of the 248 days, only 97 were spent on work contracts. So I just want to clarify whether the income I earned on those three contract jobs is t...
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Do local dividends do they get reflected on an IRP5?
Posted 19 January 2015
Local dividends do they get reflected on a IRP5?
Can I distribute dividends on the DTR01 form to more than 99 beneficieries ?
Posted 19 January 2015
I have a query regarding the DWT01 form on e-filing, we need to distribute dividends to /- 154 beneficiaries and according to my knowledge you can only select 99 beneficiaries to distribute to on the DWT01 form.
Will we able to distribute to more than 99 beneficiaries on the DTR01 form on a single period?
Tax payment for over 65 years?
Posted 18 January 2015
I am 65 years old married in community of property, I receive a monthly annuity of R5,000, I also receive interest from fixed deposits of R16,000 per month, what would my tax payment per annum be.
What is the rate of tax for the sale intellectual property to a foreign company?
Posted 16 January 2015
What is the rate of tax for the sale intellectual property to a foreign company?
Are there ANY tax on foreign pensions ? (in the country of origin ?)
Posted 12 January 2015
A widow whose husband was employed in Germany now lives in SA. She receives her late husband's pension. Germany want to back date tax on her pension paid to her in SA - back to 2006.
We are aware that there is no tax in SA on foreign pensions. Is it fair then to tell the German authorities that the widow taxpayer IS registered in SA for tax, so they must NOT tax the pension at source ?.
All the articles talk about no tax in SA on these pensions but don't seem to address the issue of w...
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I have no IRP5, but I am tax for so Two years, I don't even know who I worked for?
Posted 10 January 2015
I am a freelance artist, sometimes I don't get my RIP5 and I spend months sometimes without a job, maybe a year, so how do you deal with people like me who are tax and have tax number but can't find the IRP5 when we required to bring it? What happens to us don't we get our return back? Should one forget about tax?
Calculation of 183 days outside South Africa for income tax exemption as per Section 10 (1)(o)(ii)
Posted 8 January 2015
Can the entry and exit dates as per the South African Passport Control stamp in you passport be used as the entry and exit days (both days included) to calculate the 183 days outside South Africa for foreign salary income tax exemption, as per Section 10 (1)(o)(ii) for example: depart from South Africa the morning of 1 January 2015, passport stamped as "exit" by South African Passport Control and enter South Africa again on afternoon 10 January 2015, passport stamped as "entry". So days outside ...
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Registering as a SA taxpayer
Posted 28 December 2014
Hello Tim!
I'm a foreigner living in SA on a relative visa, with my spouse. I would like to get a business endorsement on my visa.
1. At this stage, do I need to register as an income tax payer only?
2. How long will it take me to get the taxpayer's number from the day of submission?
Please, let me know.
Many thanks!
Tax Refund Calculator?
Posted 22 December 2014
The calculator....."Work out salary tax (PAYE), UIF, taxable income and what tax rates you will pay"...does not include interest (local foreign), dividends (local foreign), rent, "other" income...
Tax on Interest only income?
Posted 19 December 2014
I'd like to know how tax works based on this assumption:
>>
I have only one income and it's purely from interest earned off of investments (simple investments that give a fixed rate monthly so nothing funny about offshore, shares, etc.)
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My guess is that it's the equivalent of earning a salary (i.e. if you earned R3500 in interest monthly that you'd look up the tax rate in the current tax booklet and therefor have to pay nothing as tax appears to only be required when earning more than R5891 monthly)...
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Pro rate exemption on primary residence?
Posted 18 December 2014
Would I qualify for pro rata primary residence exemption if I let my house for 7 years while out the country. The property was purchased in July 2001 as my primary residence then rented out from June 2006 to date of sale March 2013. I have not lived in the house since May 2006.
Hi how do I Declare rental income on my tax form?
Posted 5 December 2014
How do I declare rental income on my tax form? If my rental income is less than my bond, municipal and levy costs do I have to declare as I am at a loss?
What are the requirements to claim back PAYE when working outside the country (SA)
Posted 3 December 2014
What are the qualifications if working outside SA to claim back your PAYE?
Cruise Ship Work?
Posted 2 December 2014
I work on a cruise ship and get paid in US Dollars. I am only in south africa probably 8-10 weeks a year. Do I have to declare that foreign income and pay tax on it? also if I want to buy property here how will that impact me on a taxation basis?
When calculating the tax portion on a lump sum payment isn't the first R500,000 tax free
Posted 29 November 2014
When calculating the tax portion on a lump sum payment isn't the first R500,000 tax free which means the tax calculation should only be done on the remaining portion. With a lump sum of R3,000,000 the taxable portion is R2,500,000. This means the tax will be 36% of the amount exceeding R1,050,000 + R130,500 which is 36% times (R2 500 000 - R1,050,000) plus R130,500 = R 652,500
Where do I enter figures for local Dividends received and Not married, 3 children, rebate 4 child?
Posted 27 November 2014
Where do I put in local Dividends received - I entered it under foreign which is not correct?
Have entered not married but have 3 children - receive rebate for children?
What to enter for "creditors", under Assets & Liabilities, on ITR12 form?
Posted 24 November 2014
I earn rental income so am completing an ITR12 form. Under local assets & liabilities, the "creditors" section... does one complete 'all payments made to creditors throughout the tax year' OR the balance of what is owed for the full account OR the current monthly installment owed OR the installment owed for the month at end of tax year..?
Many thanks in advance!
Implications for permanent residence application if non-res performs work outside SA for SA employer
Posted 22 November 2014
Hi Tim,I am responding to your answer to a question: https://www.taxtim.com/blog/how-do-i-know-if-i-am-a-tax-resident-of-south-africa#comment-1301I don't seem to be able to respond within the thread.I am in a similar position - also a UK national on a local contract since April 2012 (first two years on an intra-company transfer visa, now on a general work permit) and it looks like I might have to work on projects outside SA.If I do this and reduce my tax liability, what does this do to my a...
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How to claim Motorcar expenses
Posted 21 November 2014
I am self employed (Handyman) and use my car to get to the places of business. I keep a log of km traveled for business. SARS informs me I am NOT allowed to claim any expenses with respect to my motor vehicle. Is that true? If not how to go about it?
Claim full loan premium vs only interest paid
Posted 21 November 2014
For investment properties, how do I declare the full debit order amount as a loss, instead of only the interest paid on the loan?
Debit Loan Accounts & DWT
Posted 21 November 2014
I'm the sole member of a CC & have a debit loan account amount of approx R200,000 for the 2014 tax year.I believe that this raises certain DWT issues etc and was wondering if the CC charges me market related interest on this amount for the year & adds this amount to my loan account, would this solve my problem & not have to declare a dividend to balance the loan?If also heard that if the deemed dividend rule (DWT) will not apply if the loan is repaid or otherwise extinguished by...
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Net Capital of Business for Sole Proprietors?
Posted 21 November 2014
I'm a Sole Proprietor.Under "Statement of Local Assets and Liabilities" there is a field "Net Capital of Business, Trade, Profession or Farming"I've already filled in all Profit and Loss under the section of "Local Business, Trade and Professional Income (incl. Rental Income)Do I just fill in the result (of Profit and Loss) again under "Net Capital of Business, Trade, Profession or Farming"?
should I do a tax form.
Posted 21 November 2014
I've worked in the DRC up to June 2013. Then I was put on pension. I was unemployed up to April 2014. I was not sure whether I still have to do my tax certificate. Thanks
IT3(b) certificate how to enter it
Posted 20 November 2014
I have an IT3(b) tax certificate from my medical aid, but nowhere am I asked to include this during the process of filing my return?
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