Tax on inheritance received by an individual

  Written by Alicia   Posted 22 May 2016

I have recently inherited a sum of money from two sources. One, my late mother's estate account via a will and the other, a pension claim from my late mother's pension fund(GEPF). Both these amounts were taxed before they were paid over to me. Both the executors and GEPF submitted tax directives to SARS in order to facilitate the tax payment process before making payment to me. My salary income falls within the necessary category in order to be required to submit a tax return. How will I be taxe...

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Can my VAT liability be back dated?

  Written by Alicia   Posted 22 May 2016

I run an events company and should have registered for VAT a long time ago, but am only doing so now. On completing the registration form, they will see that my company has been operating for a couple of years now, some of which, my turnover has been over the threshold. My question is: Will SARS investigate my prior years financial turnover? What will happen if they do investigate my prior year finances?

Will I have to pay tax on my late husbands RAF claim pay-out?

  Written by Alicia   Posted 22 May 2016

My husband was killed in a motorbike accident by a drunk driver. I am awaiting a settlement from the Road Accident Fund and I have a few questions please. 1. Will I be taxed on the amount paid out to me for my kids and I
2a. Will the fund deduct the amount before the payout?
2b. Or must I pay it afterwards and how does that work?
3. How much is the tax? I was 26 when he was killed, and my kids 3years and 8 months respectively... I am scared the government made me wait all this t...

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Wear and tear on coffee machines?

  Written by Alicia   Posted 22 May 2016

What is the wear and tear rate for coffee machines

Filing season start date?

  Written by Alicia   Posted 20 May 2016

When can I start on my tax claim,

How to complete the IRP3(a)

  Written by Alicia   Posted 20 May 2016

In terms of the IRP3(a), how does one do the manual calculations of the taxation that should be deducted if ''other''(X) is ticked under the directive reason, as there are calculations available for the retirement and severance benefits.

How does capital gains tax contributes to vertical equity?

  Written by Alicia   Posted 20 May 2016

Explain how capital gains tax contributes to vertical equity.

How is CGT paid, is it deducted from gross investment or added to gross annual income

  Written by Alicia   Posted 20 May 2016

If you are subject to capital gains tax, how is it paid, is it deducted from gross investment or added to gross annual income

Foreigner earning an income in South Africa

  Written by Alicia   Posted 19 May 2016

Hi

I would like to know if a Zambian resident has a work permit in South Africa and gets paid per hour but into a Zambian bank account will he be taxed in South Africa?

VAT to be (not) charged to a EU company

  Written by Alicia   Posted 19 May 2016

We are supplying product to a company NOT registered in South Africa. Invoices submitted will be paid to the entity in Europe through a forex payment. THe installation of the product and services will be done in south Africa through. Do we charge the Customer VAT and include the VAT calculation in our EU invoice to them.

Exclusion of R 40 000.00 of Capital Gains Tax

  Written by Alicia   Posted 19 May 2016

Two sisters bought an apartment. When they sell the apartment, capital gains tax is applicable. This is not a primary residence. Is the R40 000. 00 exclusion for both sisters on the total amount of the asset or for each sister in calculating their cut of the income?

TaxTim and present SARS eFiling status

  Written by Alicia   Posted 19 May 2016

If I register with TaxTim how is my present status as an SARS E-Filing tax payer affected?

Do I need to de-register as an SARS E-Filer?

2014 Tax Deductions Not Claimed

  Written by Alicia   Posted 19 May 2016

A few years ago (in 2013) when I submitted my tax returns I omitted to claim for a large amount of medical expenditure. Can I rectify this situation, or, is it too late?

Is my income taxable if I only spend on average 3 months in a year in SA

  Written by Alicia   Posted 19 May 2016

I am almost 70 years old and receive four pensions from the Government Employers Pension Fund (GEPF). The pensions form 98% of my income, the other 2% is derived from annuities. I have two children, one lives is Australia and is an Australian citizen and the other lives in London and is a British Citizen. I spend most of my time visiting my children for six months periods and only spend about 3 months of a year in South Africa. Am I liable to pay personal income tax in these circumstances. I hav...

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Tax implication on provident lump sum fund benefit

  Written by Alicia   Posted 19 May 2016

I've been unemployed for the past six years. My tax number with SARS has been deregistered. Insurance company requested an IRP3 directive on my behalf from SARS. This was declined as I needed to re-activate my tax number. I'm awaiting for re-activation of my tax number. Presently I'm unemployed, will I be taxed and how much?

Can i setoff my personal rental against the rental income of my only property?

  Written by Alicia   Posted 19 May 2016

I built a home, had to move for work and am currently renting out my primary and only property for R16500 per month. In the area to which I moved for my new job I now rent a flat for R10 000 per month. Is there any differentiation in SARS for this scenario or is it regarded as an income of R 16500, I don't mind paying tax on the difference, but it feels like exploitation if I need to pay tax on the full amount of rent earned, I spend R 10 000 on having a place to stay!

How do i submit a nil return on E-filing?

  Written by Alicia   Posted 19 May 2016

You used to help with my tax return before I retired in June 2013. I cannot remember my password, and my e-mail address has changed. Please advise: I did not realise I had to submit a "nil" tax return from 2014 to date - my income has been way below the R105 000 taxable amount per year.

Am I paying PAYE?

  Written by Alicia   Posted 18 May 2016

How would you know if you really paying tax?

How do I claim my travel expenses against my allowance?

  Written by Alicia   Posted 18 May 2016

I'm a commission earner, started on the 1st December 2015. I have been using my car which I bought in July. I had a log book but some of my petrol receipts have faded a bit. When I started working as a commission earner my km where 6780, at the end of Feb they were 16956

I want to claim for travel allowance, should I use the deemed cost or the actual cost.

Do I earn enough to pay tax?

  Written by Evan   Posted 18 May 2016

Hi Tim

I started working online and get around R2000 -R3000 a week. Sometimes less, sometimes more. Some of the work I get is out of the country. So I just wanted to ask, must I pay tax or is the amount too little? Is there a way I can work it out or will it be best to just go in to their offices?

How to capture EMP501 and IRP5 values

  Written by Alicia   Posted 18 May 2016

When capturing an EMP501 on Easyfile, under Liabilities, do I capture the payroll values exported from my payroll system for payment every month or do I capture the actual payments made to SARS for that month under liability?

How can I obtain a tax clearance certificate?

  Written by Alicia   Posted 18 May 2016

How can I get my personal tax clearance certificate for income tax

Turnover tax, can one claimable expenses prior to the tax calculation?

  Written by Alicia   Posted 18 May 2016

What expenses can be claimed before u calculate the tax payable on company that is registered for Turnover tax?

Can a minor's taxable income affect a parent's taxable income?

  Written by Alicia   Posted 18 May 2016

My son is a model and his only 5 years old I submitted his tax return I registered him with SARS E-Filing, however I did not load myself as his representative which means telephonically they can not assist me however what I want to know is when loading myself as his representative at my nearest branch, would my tax returns at any point be linked to his or will it run separately?

Additional income, and when do I register for Provisional tax?

  Written by Alicia   Posted 18 May 2016

If I do freelance work and get paid via Paypal what are the tax implications of withdrawing the funds into an FNB account, this would be a second source of income
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