'Gift' income from UK - is it taxed?

Posted 26 June 2014

My parents who live and work in the UK have given me some money, just under R100,000.00
Essentially this money is support for airfares and expenses incurred due to the illness of a family member overseas, and my need to travel.
They transferred it using TT from a UK bank, and this has been automatically flagged by my bank to SARS and FSB etc.
Will I be taxed on this 'gift' ?

Severance pay - how do I show it on an IRP5?

Posted 25 June 2014

I need to pay severance pay - what IRP5 code should I use to ensure it is taxed correctly?

What is the entertainment expense deduction limit per year?

Posted 13 June 2014

Hi Tax Tim
I am helping a small contractor with his books and I would like to know how much he can claim for entertainment expenses? Is there a limit per year? Also assisting my local church and have the same query for their entertainment expenses?

I need a tax number?

Posted 3 June 2014

I need a tax number they want it at work so I was asking how can I get it without traveling to SARS office by just filling up something here.

Should my vehicle logbook to SARS include destination and reason for the trip ?

Posted 25 May 2014

What trip detail does SARS require on the vehicle log sheet as I always send a detailed sheet for each month ( March - February ) showing the date of the trip, place traveled to, starting and closing kilometres, total kms traveled and reason for the trip.

I saw a friend of mine who simply sends a one pager spread sheet which simply shows the date, opening and closing kms as well as total kms without including the destination and reason for the trip.

What are the documents need to submit through online after filing my returns?

Posted 23 May 2014

I submitted my tax return yesterday and received an SMS from SARS people asked me to submit the supporting documents?

What are the necessary documents I need to submit?

I am commission earner can I use car payments as deduction. (HP)?

Posted 13 May 2014

I am commission earner can I use my car payment as deduction,(HP)?

Travel Allowance but l do not have a logbook?

Posted 12 May 2014

I have been receiving a travel allowance since Aug 2013, however l have not kept a logbook but all the petrol slips as I was not aware of the process. Please advise on what l should do next????

Travel Allowance - claim for tax?

Posted 7 May 2014

I receive a travel allowance set monthly amount from my employer. I do not have a vehicle but use a car pool to travel to work. I am taxed on this amount monthly. Can I claim this on my tax return as I have no logbook but I do travel to work about 25000 km's a year.

What is the meaning of tax directive i.r.o pension payment?

Posted 6 May 2014

What does: "Dear GEPF member. SARS issued a tax directive i.r.o your pension payment. Payment will be effected within 5 working days. GEPF queries 0800117669 that mean?"

Should all travel claims for staff members be included on payslips and on their IRP5?

Posted 5 May 2014

Should all travel claims for staff members be included on payslips and on their IRP5?

Voluntary VAT registration

Posted 4 May 2014

My business has been operating for 3 months and I have managed to supply taxable goods to the value of R50 000. Can I register for VAT voluntarily or the business needs to be operating for at least 12 months? Will SARS accept invoices as proof of turnover even though I have not received most of the payments into my account, will I also need to give SARS a copy of my bank statement upon application?

I am retrenched, how I can save money from my retrenchment package - provident fun?

Posted 2 May 2014

I am retrenched, how much of my severance package and provident fund will be taxed? I want to learn the basics of income tax as a freelance writer, what will be expected of me to be legal taxwise. What is an income tax return, when working part-time as a freelance writer in South Africa?

How do independent consultant pay tax?

Posted 1 May 2014

I work as an independent consultant for two organisation. I basically invoice these organisation monthly for work done. The contracts are structured in such a way that I should be paying tax myself. However, I only started this year, but am not sure whether to register as a provisional taxpayer or not. How do I go about honouring my tax obligation?

How do you register a company that won't be using VAT but would like the perks?

Posted 28 April 2014

I have started a new company and want to know the following:

My company won't be doing invoices or quotes nor will it be buying anything on credit. So no VAT will ever be charged from my side. In the future I see the company recruiting employees but for now it is just me. Do I need to register my company right now (if its just me) as I would like the perks of having the office space I am using to be taxable. I am using 2 parts of my house for work purposes (one for offices and the other for storage). ...

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Salary calculations - what is included?

Posted 22 April 2014

An employee gets a Travel Allowance - 80% of his salary (correct). He also needs to pay off a Staff Loan - R1,000 per month. Do you deduct the loan amount BEFORE taxes or AFTER PAYE & UIF? What is the correction calculation PLEASE.

What type of taxpayer am I classified as?

Posted 13 April 2014

Hopefully you can please help me out, I registered for Tax a year ago, by default I was registered as a non-provisional tax payer and I am currently unsure of how I should classify myself for tax purposes. I'm also not working as a company or cc but as an individual.

I have 3 different forms of income:
1) 35 Hours a week I work for a company on their premises (almost as a full time employee) and invoice them every month. 70% of income. The do not withhold PAYE as of yet.
2) 5 Hours a week for another company, Invoiced for as well. 15% of income and they withhold 25% PAYE....

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Medical Aid & Car & Travel Allowance Questions

Posted 9 April 2014

Can an employer pay an employee for medical aid if its not medical aid through the company but rather on their own capacity? For example I have my own medical aid on my name. Can my employer pay me a set amount of R2000 every month for medical aid? What is the tax benefit of that, if any?

What is the difference between a car/Motor Vehicle allowance and travel allowance or are they the same thing? I don't travel for the company, but could I still get a car/Motor Vehicle allowance?

How are one-off payments taxed?

Posted 3 April 2014

I have just started working as a freelance copywriter however this is not my main source of income. The work is a side-line and sporadic thing. I am about to be paid for a job I've completed and would like to know how I will be taxed for the job- in other words I really want to know how much money I will take home at the end. Is there a way for me to calculate this?

Property Transfer Duty for Trusts

Posted 31 March 2014

If a trust is buying a residential property does it pay the same transfer duty as individuals? Further, if the trust was registered for VAT would that change the answer to the previous question in any way?

Do we need a tax directive to avoid paying PAYE due to working out of the country ?

Posted 31 March 2014

My husband works out of the country and in 2013 was in Moz for 63 consecutive days, meaning he shouldn't pay PAYE in SA. How is this worked out in the system? Should he be paying monthly PAYE, and refunded at year end, or does he need to apply for some sort of tax directive from SARS? He has been invoicing the company, who have paid him in SA but there are no payslips or PAYE deductions. Now we are applying for a homeloan, they want payslips.

I have to borrow money from a friend to make ends meet, how do I get back on track with my tax?

Posted 30 March 2014

I used to be permanently employed, paid the normal PAYE every month, and all that. I dutifully submitted my tax return every year and got my refunds from SARS very promptly. I then left the company and did a brief stint at another firm whose business was totally unrelated. I then decided to go on my own and start working as an independent. Things didn't go as well as I'd hoped and I didn't earn enough to support myself and my children, let alone, pay any tax. A friend has been helping me to make...

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Can I claim UIF for months unemployed before registering as a provisional taxpayer?

Posted 25 March 2014

I have just started my own business - well, technically I just freelance. Does this make me a provisional taxpayer.

In addition, I want to claim UIF for the months I was unemployed and not working (Dec, Jan, Feb). Can I still do this even as a provisional tax payer?

Provisional Tax Calculations?

Posted 24 March 2014

Hi there. I will as of the 1st of May 2014 be employed as an independent contractor to a company in Israel but will be based in JHB. Will I have to file provisional tax and how is this amount calculated?

Can I request a correction after ITR14 submission?

Posted 20 March 2014

I've submitted my ITR14 on 28 Feb 14, but then received a massive supplier invoice which would increase my COS & this would then decrease my PBT in essence I would qualify to get a refund from SARS, can I request a correction?
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