How do I submit income tax? How do I calculate income tax?
Posted 16 October 2012
Hi
I need to submit my income tax for 2012 and how do I calculation my tax and complete the income tax form?
My monthly salary package is R13000 with pension fund incl. (I paid -R890 and company paid -R1210 show on payslip)
Travel allowance (R1000 per month)
So it's R13000 (incl. pension fund) Travel allowance R1000 = R14000 Gross income
And I also paid medical aid by myself ( -R960 for myself , -R1100 for my father and -R1100 for my mother) from my own pocket....
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Home Office expense calculation?
Posted 14 October 2012
Your guide mentions I must take the total househould expense (for the year I presume) and multiply by the square meterage (5m) - should this not be divide by square meterage and not multiply (R3000 x 12 / 5m?)
How much tax do I get charged on a R10000.00 salary?
Posted 14 October 2012
I would like to find out on a R10 000 salary, how l much tax would be deducted and would I be eligible to claim tax in the future?
How does the tax on medical aid contributions appear on my IRP5?
Posted 14 October 2012
I am a pensioner and the company I worked for pays my medical aid contributions in full. When I call up my file on efiling, the prepopulated fields are (3810) and (4005) with a "1" and field (4474) with the full amount of the contributions paid by the company. Is this correct? I do not receive a pension from the company.
What is the Retirement Annuity Fund contribution deduction limited to?
Posted 14 October 2012
Taxable income before RAF deduction is R100 000 per annum. RAF contributions are R1200 per annum. (Is the RAF deduction limited to actual RAF contributions?) Please advise what RAF deduction I can used in my tax calculation?
How does the tax on selling painting given to me as a gift get calculated?
Posted 14 October 2012
Hi, just want to know I was given a painting as a gift by my grandmother years ago and now want to sell it on an auction in London, the proceeds will be deposited into my bank account after vat and costs (handled by a professional auctioneer company in south africa). I want to know how do I handle the tax situation.
Hi Tim, I am unemployed and I am unsure about what to do with my tax return next year.
Posted 14 October 2012
I also have an annuity that I still pay every month. What do I do next year with my return?
selected for audit
Posted 14 October 2012
I was asked to submit my supporting documentation - which was for medical aid only and was selected for audit. I called SARS to find out what was happening as I had a refund due but all they could say was that the type of Audit I was selected for can take between 3 and 12 months. My tax return is not complicated but I do pay for the family's medical aid.
Thank you
How do I claim for the purchase price of 3 flats that I rent out?
Posted 14 October 2012
I have finished my claim, I noticed a place on the form to enter the interest I paid to the bank for the finance. Is there no way to claim for the actual money I paid for the flat each month compared to what I earned each month in rent?
How can you change login details for eFiling?
Posted 14 October 2012
I am unable to visit the branch as im abroad and their response was I need to visit their branch to be assisted to reset both my password and username. Is this true?
What do the sms' from SARS mean, once I have submitted my returns?
Posted 11 October 2012
I have submitted IRP5 forms from 2009 and have received four SMS's stating the following 1st SMS "thank you for filing your 2009 tax return result -R534 acc balance -R985." 2nd sms for 2010 return results "-R300 account balance -R451." 3rd sms for 2011 assessment result "-R151 acccount balance -R151." The 4th sms for 2012 assessment result "R0 account balance R0." Please explain what do these sms's mean and what does it mean on the sms when it says, "audit:no?"
Sole Proprietor, Importing and Tax?
Posted 10 October 2012
Hi Tim
Hope you can help me as I'm having a hard time finding the correct information.
I would like to start importing small quantities of goods, for resale, into South Africa as a Sole Proprietor. Now as far as I can tell I will need to complete the following forms at SARS to get an Importers Code: DA185 and DA 185.4A1.
Now the thing is I don't have a tax number etc because I've just finished my studies and I'm just starting out as a Sole Trader, and from the looks of it the DA185 form requires that information....
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Do I declare maternity UIF on my tax return?
Posted 4 October 2012
Hi Tim, I was on maternity leave for 4 months of the 2012 tax year. During this period my employee paid 75% of my income and the balance I claimed from the labour department. Please could let me know if this will affect how I file for 2012? Are there changes I need to be aware of?
We are elderly people - not familiar with new things - can you help?
Posted 4 October 2012
I am too old to learn new things - I had a bookeeper lady - she has become too expensive. She does not show us what to do, just did it for us. We need to get help in a simple old fashioned manner = that is what we are looking for. I am a provisional taxpayer - a little closer to 70 years old - so don't hit me with hi tech answers. I do not understand the tax jargon.
CC company when do I submit taxes? Not registered for VAT, only income tax.
Posted 2 October 2012
Trading two months now, can't seem to register on efiling.
I want to submit my own tax for this year, but I want to do it via e-filing.
Posted 2 October 2012
A friend of mine did it for me before, but this year I want to do it myself, so he said I must contact SARS, they will ask me a couple of questions and they will be able to send me some info, so I can get access to submit my tax return.
Will I need to complete a tax return this year?
Posted 2 October 2012
I have just started work for the first time on the 1st of August 2012. Do I need to still do a tax return for this year?
I do not understand why TaxTim is different to manually completing an ITR12?
Posted 1 October 2012
Where do I update my personal particulars and where on TaxTim do I enter details of my IT 3(a)'s and bank interest?
Is information on an IT3(a) filled in in the same manner as that on an IRP5?
Posted 28 September 2012
I'm struggling with how to deal with Annuities
What does an sms from SARS with two minus figures mean?
Posted 28 September 2012
Hi I've received an sms from SARS with two amounts with a minus sign in front of it, what does that mean? Do I owe SARS that money?
How do I treat a medical aid tax credit with regard to employer paying whole med aid which is includ
Posted 25 September 2012
I am an employee that has my employer paying my med aid in full, but it is included in my overall package. So technically i still pay for it. How do the calculations work out. The contribution is R 1356 pm. Before we were working out what was paid, minus the capped amount and allocating the diff. I have to do the interim recons for Sars and have no idea how the tax credit system will affect me. I am the only one in the company that is structured like this. Please help...
Proper apportionment of fuel and right of use for vehicle
Posted 25 September 2012
Hi there i had right of use of car and i paid for all of my petrol. I would like to know how to differentiate this on your website as it initally asks me my personal BUSINESS expenditure which i have apportioned and put the net amount in that block but then it subsequently asks my personal expenditure I incurred for right of use. Does this line item refer to insurance costs or must I retype my ENTIRE petrol expenses ie including private expenditure.
Is UIF contribution included in taxable income?
Posted 25 September 2012
Is UIF contribution included in taxable income and how is it applied?
I am 64 years old, what is the taxable threshhold for a tax year?
Posted 25 September 2012
How much money can I earn in a year before I will be taxed by SARS?
Where do you include amounts
Posted 25 September 2012
Where must we include rental income, purchased annuities, exemption of capital portion, tax payers information, RAF S11(n)?
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