Tax on Voluntary Severance Pay?

Posted 19 March 2014

How is an employer suppose to handle a voluntary severance payout? What options must be chosen on application for tax directive. Does this falls under "Gratuities paid by an employer in respect of retirement, retrenchment or death" and will I be taxed accordingly?

What sort of tax should I register for as an independent IT contractor?

Posted 14 March 2014

I'm an independent IT contractor working from home. I work for different clients at the same time. Some pay a fixed fee.

What sort of tax should I register for taking into consideration that I use my house, electricity, internet, etc?

Can we combine our three taxpayers, i.e. my own, my wife and our family trust?

Posted 13 March 2014

I am a Sassa pensioner and also a property valuer working for my own account from time to time for agreed upon fees. My wife, to which I am married out of comm. of property, helps me with the travelling by driving me around in her vehicles. We pay for the fuel and services from my bank account as well as from hers and she pays for the insurance. Our accommodation and food on the road is a big expenditure. At home, which is owned by our children, we uses an office and pay rent for it. We also hav...

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Tax payable for one man business?

Posted 12 March 2014

My husband will now be starting to sub contract for his company, instead of being "employed" by them.

He will only supply labour. He will invoice them once every two weeks and the total monthly invoice will be R26,000.00.

Do we have to register his company and how will the tax work?

Which is the best way to maximise your return using the travel allowance?

Posted 11 March 2014

There are two ways to calculate travel allowance that is deductible. One is where you keep actual expenses and the other is where there is a table of fixed costs, maintenance etc depending on the value of the car. Which can maximise your refund? And can the capital value of the vehicle be deducted or considered besides for the purposes of determining running costs?

Can I declare extra income at the end of the year, or must I register for provisional tax now?

Posted 10 March 2014

If I did some freelance work in 2013 / 2014 tax year, will I pay a penalty if I only declare my extra income when I do my regular return?

I freelance now and again but have a very low monthly income. Do I need to declare & register?

Posted 7 March 2014

I love your business model, very innovative.

I have a full time job and started offering to do freelance web designing for people. I have been told some conflicting information about tax, from being taxed 40% on additional income to additional income not being necessary to declare if its non-recurring.

I have a full time job and don't charge much for creating websites and there is the recurring income of web hosting that I charge clients monthly. I probably create a site once a month for about R2000 and hosting comes to a total of R400 a month (for all the sites I host). So additional monthly income is max around R2400 and that is not every month....

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Do travel days count towards 183 days out of country?

Posted 6 March 2014

Do the days of travel to and from SA count as being out of country?

Can you deduct travel expenses to & from coaching as an independent contractor if you keep a logbook

Posted 27 February 2014

If you work 2 jobs - 1 part time with a salary (office job) and the other ad-hoc coaching of sports. Can you deduct travel expenses for the travel to and from the ad-hoc coaching? [I know you can't to and from the work place for the salaried job.]

And what other deductions can you make besides the medical tax credit?

Provisional Tax and charging Tax?

Posted 21 February 2014

If I were to open a small company (sole proprietership) doing plumbing work, would this make me a provisional tax payer even if its my only source of income? Also, on my invoices I would send out to clients for jobs done.. would I charge tax on these invoices?

SARS wants me to submit supporting documents, but the document list is empty

Posted 20 February 2014

I think SARS owes me a refund because my ITA34 reflected a negative number and said "refund due to you". Anyway they are now giving me grief, disputing my refund and demanding I respond in 21 days by sending me a "Final Request to Revise Income Tax Return or Submit Relevant Material". However in this document they say: "In the event that you couldn't find an error, you also had the option of submitting to SARS copies of the following material in support of the declarations made in your income tax return:" This is followed by an empty document list. ...

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SARS requesting private km and logbook for everyday of the year in addition to business travel?

Posted 18 February 2014

I'm claiming tax on my travel allowance and submitted my logbook based on the SARS logbook. Earlier today I was notified that my travel claim is disallowed. When I called them they said I should add my personal travel and mileage for everyday of that tax year. Is this normal? I thought SARS was only interested in business travel.

What is the PAYE formula?

Posted 17 February 2014

Mr ab is paid a monthly salary of R20 000 as well car allowance of R2 500. He belongs to company pension fund and contribute an amount equal of 7.5% his basic salary. The company does the same. He is also member of medical aid and his total contribution is 2100 of which the company contributes half.

How do you calculate this?

Primary rebate automatically deducted for freelancers?

Posted 30 January 2014

I am a freelancer. If I eFile my return is the primary rebate automatically deducted from my income before the tax amount is calculated. Or do I have to deduct it myself?

tax rebatre for branded vehicles

Posted 23 January 2014

What are the rules regarding company vehicles and branding of company vehicles, is there a tax benefit to the driver of a company vehicle if it is branded?

Am I a Personal Service Provider for Tax purposes?

Posted 18 January 2014

I earn R700,000 in my personal capacity at client A and 300,000 through my CC at client B.
I render the services for my CC personally and more than 80 percent of the fees received by the CC are received by one client. Would my CC be regarded as a personal service provider even though I earn 700,000 separately in my personal capacity?

Removing uploaded documents off sars e-filing

Posted 17 January 2014

Is there a way to remove supporting documents that I have uploaded on the SARS eFiling website?

If I am a new Estate Agent what do I need to pay tax?

Posted 16 January 2014

If I am a new Estate Agent what do I need to pay tax? I would prefer to pay my own tax rather than the Agency.

Tax on leave buyback?

Posted 14 January 2014

Some are saying that when an employer buys back leave, the employee is taxed at 50%. Is this correct?

Can PAYE be deducted if on commission only and can I invoice the company contracting me ?

Posted 7 January 2014

I'm a consultant and earned only 5% on commission. The company pays me a retainer of R10K per month. Can they deduct PAYE per month ( 5 month contract only)? if so, of how many %? Can I bill them in my personal capacity or from my CC? what would the tax implication be?

Confused about a tax audit?

Posted 26 December 2013

Hi Tim

I made a mistake on my tax return and included my employer contribution plus my own contribution to the company pension as well as my RA contribution under the RA section of the ITR12 as I was confused by the note that came up on screen saying the amount should also include the pension amounts appearing on the IRP5. I was uncertain but erred by putting down the full pension and RA contribution amounts.

However, I think this flagged me for an audit (never happened bef...

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Where do I find link to 'Directives' on home page of website?

Posted 17 December 2013

Where do I find link to 'Directives' on home page of website?
'Services' does not include a sub heading 'Directives'.

Is TaxTim compatible with Iphone 5

Posted 13 December 2013

Is Tax Tim logbook, compatible with Iphone5. Is there an Tax Tim app for iphone

Tax payable as freelance worker?

Posted 11 December 2013

I work on commission basis as a freelance teacher and have no basic salary. What tax must I pay?

Contractor Claims - source code 3616

Posted 5 December 2013

I am an independent contractor code 3616. I use my vehicle for for business purposes and have an RA.

1) Must I have an RA to claim the max 15% RA deduction or can I claim irrespective having one or not ?
2) My vehicle is paid up, can I still claim the monthly ISA installment I used to pay ?
3) What are the entertainment expenses I can claim ?
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