old nil returns

  Written by Alicia   Posted 13 June 2016

my wife would like to use your service. Her scenario, she used to work up to 2009, then became a housewife till mid 2015 when she started working again. Before, she never earned enough to file tax returns (dunno if that's still effective). She does have a tax number and would need to do her tax return this year. Se started working 1 July 2015. Would the lite or smart package be sufficient and is she most likely looking to have some penalties?

In which country will I declare my last income earned in South Africa

  Written by Alicia   Posted 10 June 2016

Hi

November last year (2015) I left south Africa to move to UK to be closer to family, I was born in South Africa but I hold two citizenship's one is South African other British. I was working in South Africa for a few years but had no assets over there other than what I had in the bank. I got a job this side a couple months ago and been working here just wish to find out what happens regarding tax return for South Africa?

before I left I did get a tax clearance certificate...

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Foreign investment account

  Written by Alicia   Posted 10 June 2016

What are my tax liabilities if I open a bank account (from SA) in the UK, transfer funds into that account and then bring those funds back into SA after a period of time?

Can a business in the turnover tax system register for VAT.

  Written by Alicia   Posted 10 June 2016

A business is registered for Turnover Tax. To procure more work, he wants to register for VAT. Is he allowed to do so. Is there an official document to confirm this

CGT on transfer of shares

  Written by Alicia   Posted 10 June 2016

Hi
My client started 2 companies and was the 100% shareholder
He now wants to transfer the shares to his holding company
With regards to the cgt calculation can a simple valuation be performed for the deemed proceeds or does SARS require to have it done by a professional
Also - what can we add to the base cost
Can we add the legal costs to create the agreements for the transfer of shares?

May I deduct medical aid contributions as a non-principal member

  Written by Alicia   Posted 10 June 2016

I am listed am listed as a dependent on Discovery health with my wife as the principal member. However I pay the contributions for my wife, my son and myself. She doesn't earn an income and is therefore not liable to pay tax. The tax certificate from Discovery is in her name, can I claim the medical expenses and premiums as medical deductions on my IT12. I reference these articles and would like to know if the information in these is still valid as at June 2016

1) South African Institute of Accounting Professionals article from 2012:...

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Vat for services received and rendered in Botswana

  Written by Alicia   Posted 10 June 2016

We a South African company providing a service in Botswana for South Africans. When invoicing our customers do I invoice with vat?
Can I claim input vat for expenses incurred in Botswana? Botswana vat is at 15%..

How do i claim travel expenses if I used 2 cars

  Written by Alicia   Posted 10 June 2016

I moved from one employer last year at the end of November. I used a company car, on which I attracted fringe benefit tax. In December 2015 I started with another company, and received a car allowance. I am able to claim business km's for which I am reimbursed at a rate of R3. 29 p/km (subject to monthly logbook submissions). What are my likely tax implications for this filing season based on this, and will I able to file in way to accommodate both scenarios?

Is loan repayments taxable?

  Written by Alicia   Posted 10 June 2016

I own a business where I borrowed money to buy the business. Will I pay tax on the capital portion of the loan repayment.

Tax free lump sum portion

  Written by Alicia   Posted 10 June 2016

I am 53. Recently divorced. While married we contributed to a provident fund which was handed over to Investec for management after my first husband stopped working. But he did not implement retirement He took a sum of 570 000 from his provident and paid 18 percent tax on that. Now that he has implemented retirement we both wanted to claim the 500 000 lump sum tax free that we were promised by our financial advisors. I cannot get my bit because I am under age and he cannot get his 500 000 tax f...

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Completion of income forms for the CIPC

  Written by Alicia   Posted 10 June 2016

I am full time employed and have started a small business on the side. The business is registered with CIPC and has its own tax number. I needed help to do the tax return for the business and I would like to find out best to cover my business costs and what is the CIPC annual tax return?

Tax number needed for unemployed person

  Written by Alicia   Posted 10 June 2016

I wanted to to make a international payment to fund my international forex account, but at the bank they told me I need a tax number in order to make the transfer. So is it possible to get a tax number even though I'm unemployed?

which tax year do i file for?

  Written by Alicia   Posted 10 June 2016

What year must I choose if I do my tax return now

Tax on backpay

  Written by Alicia   Posted 10 June 2016

Im supposed to get a back pay at the end of June owed to me from September 2016. The total amount im expecting is 63000 before tax. Exactly how much will I be taxed?

Rebates for both primary and secondary tax payers

  Written by Alicia   Posted 10 June 2016

Require amount of rebate (primary,secondary,and Tertiary) for 2/2017

Fringe benefits for sale proprietors?

  Written by Alicia   Posted 9 June 2016

Does a Sole trader who uses his vehicle for personal and business use have to pay a fringe benefit tax himself as he is not classified as an employee.

Is it necessary to inform SARS of additional income received?

  Written by Alicia   Posted 9 June 2016

Hi TaxTim

I am a full time salaried employee but I also sometimes get tutoring jobs and I run a lift club. Will I need to declare what I earn for the latter 2 items?

Am I able get a tax refund?

  Written by Alicia   Posted 9 June 2016

How do I know if I qualify for my tax return

Long partnership regarded as marriage for tax?

  Written by Alicia   Posted 9 June 2016

I have been living with a woman as husband and wife for 17 years and see no point in getting officially married. With regard to tax rules such as: tax free gift/donation between spouses and tax rules regarding disposal of residence to spouse on death, apply to me? I have in mind donating money to my partner which she will invest to achieve a tax saving on capital gains as she has small income. She would also be able to donate to my children if required, to take advantage of the R100k tax free am...

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Claim for home office expenses

  Written by Alicia   Posted 9 June 2016

I work from home 3 days a week, I converted one of my bedrooms in a study, put a telephone line in with extra internet. I use my printer etc for work but I'm not compensated by my work for this. Can I claim some of my costs on my tax return?

Does the sale of a Holiday Home attract CGT?

  Written by Alicia   Posted 9 June 2016

My parents have a small holiday home which they have been offered R1 300 000 (from tenants). They bought the home in 1979 for R97 000. Will they be liable for CGT and how do I work out what CGT they will pay?

Tax refund on withdrawal of pension lump sum

  Written by Alicia   Posted 8 June 2016

Hi do you get your tax back when you resigned after they deducted your money from your pension funds.

Tax season preparation

  Written by Alicia   Posted 8 June 2016

Hi, I have started receiving my tax documents from my bank and medical aid etc. I am still waiting for the one form my RA provider. Must I wait for all of them and then once all are received, how do I go about completing my tax return?

Renewal of tax clearance certificate?

  Written by Alicia   Posted 7 June 2016

What must I bring to SARS if I want to renew my tax clearance while the physical address is not in my name?

Health insurance deductable?

  Written by Alicia   Posted 7 June 2016

How Do I Report My Health Insurance On my Tax tax return?
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