Amount due to me from SARS / due to SARS from me?

Posted 11 September 2013

How would I know if there's an outstanding amount owed to me by SARS or vice versa.

CGT - Offshore Stock

Posted 11 September 2013

Tim

I have a question. I live in the UK. I have been living here for 5 years. I have property and bank accounts in South Africa. I submit my tax returns every year, claiming a loss on my bonds over my properties. I put my foreign income under section S10(1)(o).

I want to know about off shore investments, if I decide to buy US Stock today, will this be the base cost for CGT purposes or will it be the day I return permanently to South Africa?

How would this differ...

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I'm new to this whole tax story. How much tax will I pay a mounth if I earn R6500?

Posted 11 September 2013

How much tax will I pay with a monthly income of R6500?

Do I need a logbook for aTravel allowance?

Posted 11 September 2013

If receiving a fixed travel allowance is it necessary to maintain a logbook?

What do you do if TaxTim refuses to show the student mode with a green tick?

Posted 10 September 2013

What do you do if TaxTim refuses to show the student mode with a green tick?

Can a company register for VAT at inception or must it commence trade first?

Posted 10 September 2013

I would like to know at what point should a business register for VAT. Can it register immediately or must the company first make R50 000 and produce bank statement to prove this?

Are s6A medical rebates deductible from your provisional tax payable?

Posted 10 September 2013

When calculating your provisional payment, does s6A medical scheme credit qualify as a deduction from the final tax amount? i.e. can you deduct the primary-tertiary rebates as well as the medical?

Where do I show calculations for student assignment?

Posted 10 September 2013

Hi there,

Where am I suppose to put the calculations for my figures? Our lecturer mentioned that we should show all calculations but im struggling to find a place to put them.

Many thanks
Siphesihle

Registration of employees for tax or PAYE?

Posted 10 September 2013

Hi Tax Tim
Do I need to register my employees for PAYE or for tax as they received only R3300 per month? How do I go about registering them for tax? What documentation do I need and do I need to go to the branch to fill it in?

Private practice queries

Posted 10 September 2013

I've started my own private practice
I was employed before that and was a registered "normal" tax payer and did my e-filing chop chop easy. I'd like to continue doing my own e-filing:

Do I have to register now as a different tax payer now that I'm working for myself?
And must I complete the form where it asks for my own income and will it automatically update then and ask if I had other expenses?

And what all can I keep as "business" expenses? (I rent an office and pay a receptionist as well)...

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There is nowhere to list my deductions as a self employed business owner

Posted 10 September 2013

I am filling out the tax return and despite having said Yes to being a provisional tax payer it is asking me questions relevant only to an employee, such as do I have a company car etc and keeps referring to my IRP5, which obviously I don't have, being self employed.

Has something gone wrong, am I filling in the wrong form? Where do I list my deductions, of which there are many?

Do students doing training pay tax?

Posted 10 September 2013

Hey TaxTim, I am a student doing my in-service training. Do I need to pay tax if I am earning R5000 per month?? I started in July 2013, I am on a contract.

Can I get money from a tax return and how?

Posted 10 September 2013

Can I get money from my tax return and how much is the money per year of working?

How do I apply to be over taxed on pension received?

Posted 10 September 2013

I receive a monthly pension from my late husband. I have submitted my SARS and I have to pay in a large amount back to SARS. I have spoken to SARS as well as GEPF and the advice I received was to apply to Department Finance to over tax me to avoid this situation again. I don't know how, where and to whom I must speak to adjust my tax. Thanks

How to fill in your Tax return with two sources of income, but no IRP 5?

Posted 10 September 2013

I do work for a research group but am not formerly employed by the research group at the university. I am listed as a vendor and get paid for things I do for the group. Effectively as a supplier of things I make.

So how do I fill in my tax form since I am in the tax threshold. I do not get a IRP 5 since I am not employed by them. I also received a pay out of a fund that I had from my previous work and it shows up in my form as an employer.

Now I would like to know how do I go about to fill in my form as I am receiving income but do not know what code or where to put it in the form. ...

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Travel allowance back up docs

Posted 10 September 2013

Hi TaxTimWhat kind of back up documentation must one hand in when you have a 3701 and 3702 code on your IRP5?Regards

Hi Tim, is code 3715 on my IRP5 claimable from SARS?

Posted 10 September 2013

Hi Tim, is code 3715 on my IRP5 claimable from SARS?

Foreign Cruise ship income

Posted 10 September 2013

Hi Tim, Please assist, I have earned foreign income working on the cruise ships. However, I have been in SA for more than 183 days for both 2013 tax year and 2014 tax year.Are there special exclusions for cruise ship income?Many thanks

Student mode not showing

Posted 10 September 2013

I already have an account but I can't see the student mode at the top?

How do I change e-mail adress on my student registration details?

Posted 10 September 2013

I am a student. How do I change my email address on my registration details?

My tax clearance crtificate has expired, how do I renew it?

Posted 10 September 2013

Hello! I want to renew my tax clearance certificate. How do I do this?

How do I deal with tax on an inheritance?

Posted 10 September 2013

How is an inheritance dealt with in tax, is it excluded from gross income, is it exempt?

Refunded but still owe SARS money?

Posted 9 September 2013

I got a refund last year (2012) and went into SARS and they did my submission for me. I phoned SARS to see how to report my previous company as they have not let me have my IRP5 form as yet (it was due by July 2013). I was then informed that I have a recurring penalty of R 13750.00 due to 2007 and 2011 not being submitted.

Surely if I owed them any money they would not have released the refund for 2012? I really need help with this as I am pretty confused.

How do I submit a tax return form online?

Posted 9 September 2013

I was given a form at work to take it to the SARS office but when I got the in June they said I must bring it in July. I work in a boarding school and I can't take off anytime until school holidays. Is there anything I can do or can I submit it online?

How do I save my tax return?

Posted 9 September 2013

How do I save work performed on the tax return?
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