Income in SA and paid overseas by SA company

Posted 13 July 2013

Hi Tim

Your service is very helpful thank you!

I am an SA permanent resident spending 3-4 months per year in SA.

I have rental income from property in SA paid into my SA bank account.

I am also paid as an independent contractor by an SA company directly into my overseas bank account.

On my tax return:
I will claim the SA rental income and expenses.
Do I also declare the other income as foreign income with the associated overseas tax paid on it?...

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Where on my return do I fill information in with regard to my IT3b?

Posted 11 July 2013

I have an IT3b and do not know how to file this info on eFiling?

What to hand in?

Posted 11 July 2013

What else should I hand in to accompany my IRP5?

If I have a fulltime job and do part time freelance work on the side how would I pay tax?

Posted 10 July 2013

I have a full time job and want to start doing some freelance work on the side but don't know how I would pay tax for both incomes. Do I need to register for provisional and non provisional tax? Will I need to submit tax forms for both or can I do them together as one tax form? Also if I don't do any freelance work for a few months do I still need to submit a return for that period?

Are some tax payers exempt from completing a tax return in South Africa?

Posted 10 July 2013

Are some tax payers exempt from completing a tax return in South Africa?

Second question: What is the current tax threshold which I understand as not having to pay tax if you earn less than the tax threshold, correct?

I bought a flat and hire it out in order to supplement my income, how does the income tax work?

Posted 10 July 2013

Due to medical reason I am on early retirement and receives a monthly pension. With my lumpsum I bought a flat for R840 000.00 in July 2012. My rental income is R3500.00 a month for the period 01/08/2012 to 28/02/2013. My expenditures are as follows: Cost of transport was R26 737.00
Levies (period 13/07/2012--28/02/2013 ) was in total R5435.81.
Where and under what code do I fill in the amount? Can I deduct the expenditure as mentioned from my rental income?...

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How do I submit a nil tax return via eFiling as no longer resident in South Africa?

Posted 9 July 2013

We have been living in Australia since 2011 so are non-residents in South Africa for income tax purposes. We are registered tax payers in Australia. When eFiling and creating my ITR12 SA tax return, do I click yes to the button saying that I have been unemployed so that I can create a nil return? Can I do this each year? Do I need to declare interest of R300 earned in South Africa - I have already declared this in my Australian return.

Are UK pensions liable to South African income tax?

Posted 8 July 2013

Are UK state pensions or UK company pensions, paid into the UK Bank account of a British national, who is resident as a retired person in South Africa, liable to South African income tax?

If I use your online digital tax assistant application will it correctly cope with such overseas pension income?

Where do I declare dividends on my tax return for 2013?

Posted 8 July 2013

I received dividends less withholding tax - where do I declare that on the eFiling form?

Disclosure (Forex, shares, unit trusts)

Posted 8 July 2013

Is there a need to disclose that I trade forex online even though I am sitting on a loss?
Is there a need to disclose for this assessment period that I had share investments and unit trusts, I disposed all shares and part of the unit trusts end of March i.e. outside the current assessment yr. after holding them for less than a year (wedding expenses over budget)?

Why do I have an amount on my IRP5 under code 3698?

Posted 8 July 2013

I just received my IRP5 today from my former employer and I have an amount under code 3698 which I believe is reserved for Gross Non-Retirement Funding Income.
Last Tax Year I was working outside the borders of South Africa and was in the local payroll only because I was in the local Medical Aid (I left my dependents in South Africa while working abroad), I did not receive any other income in South Africa.

Where on the tax return do you declare IT3c (gain/loss)?

Posted 7 July 2013

Where on the tax return do you declare IT3c (gain/loss)?

If I work away from home can I deduct accommodation costs?

Posted 6 July 2013

I live in the Cape but have been working in Johannesburg for six months of the tax year. The company I work for has given me an IRP5 and submitted that to SARS. I am paying for a B&B in Jhb privately - can I deduct that from my salary?

Where do I fill in local dividends (already taxed) on my 2013 ITR12 e-filing tax return

Posted 5 July 2013

All the online documentation says the shareholder (beneficial owner) should declare local dividends received in his ITR12 return, but I cannot find where to enter the information. Is it under Amounts considered Non-Taxable or is there an option in the tax wizard that generates this part of the form?

Is the R3 700 exemption for foreign dividends and interest still available for 2013 tax year?

Posted 5 July 2013

Over 65's have an exemption of R33000 on local interest earned. A portion of this exemption (R3 700) was allowed for foreign dividends and foreign interest in 2012 tax year. I am not sure if this still available in the 2013 tax year?

Extra income earned in addition to salaried employee?

Posted 4 July 2013

I am a salaried professional employee of a private practice however in my spare time I locum and consult independent of the private practice. It is not a substantial amount of money but how do I go about declaring it in eFiling - not sure where to put it? Also can I then use my professional registration fee as tax deductible?

Do PTY LTD companies who have paid dividends have to issue their shareholders with IT certificates?

Posted 4 July 2013

With the introduction of new dividends tax, shareholders have been taxed before their dividends are paid to them. Does the company who has paid the dividends and paid the tax to SARS now have to issue certificates to the individual shareholders confirming how much tax has been deducted? If so which certificate must be issued?

Will TaxTim allow you to add Medical Aid, RA's,Mileage and other investments like ETF's?

Posted 3 July 2013

I am under the impression TaxTim will easily allow you to add Retirement annuities and medical aid but how does the system work with Mileage that needs to be claimed as well as ETF's Like Satrix top 40 when you have to add it under Gross income and then taking it back under s10(1)(k).

Or have I lost the plot completely?

Regards
Edwin

AVS Bank with AVS verification pass

Posted 2 July 2013

Hi Tim, I submitted my tax return via e-filing and my banking had changed so I punched in the latest details and SARS put on an audit. I then submitted my IRP5, Bank Statement, Log Book, Medical Certificate of which are the only documents that I can claim for. The Efiling status shows - Correction Filed and and Statement of Account Balance: R -8383.55 and Statement of Account: Assessed Tax. Do you think the audit will go bad?, I ask this because the old Tax practioner that I used to use called ...

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ITR12 for foreign personal service providers possible?

Posted 1 July 2013

Hi Tim, I am running a sole proprietorship that is registered in Europe and provides consulting services to South African companies. My client classified my company as a personal service provider and started to withhold 28% tax. I registered as a tax payer (IT77) and created a SARS efiling account for organisations. The efiling account only offers me the option to submit an ITR12 return. The tax calculator assigns the normal personal income tax and not the flat 28% for personal service providers...

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What supporting documents must l add to my personal tax return?

Posted 27 June 2013

I'm busy doing my personal income tax and don't know what documents I must submit example medical just know about my IRP5/ I'm in a medical fund so what must I declare will you please help me Tim?

What are tax benefits of working 180 days out of SA and 60 consecutive days?

Posted 25 June 2013

I work for SA company in Botswana. My salary and tax are paid in South Africa. Is there a tax benefit in working 180 days out of the country.

I am a sole trader. How do I complete an ITR12 if I do not have an employer?

Posted 20 June 2013

I earn money for services rendered as personal tech support. I receive two certificates every tax year - for medical aid and for retirement annuity. What codes do I use and where do I enter this information?

If out of the country for longer than 183 days, what portion of my income is exempt from tax?

Posted 19 June 2013

I worked for a South African company (for 1 year), and did most of my work in another country, where I meet the 183 day & 60 consecutive day requirement. My question is: I earned a basic salary, plus allowances for being in another country, e.g. food allowance, transport, accommodation, etc. These allowances were paid together with my salary. Based on my total income from the company - what portion of this will be taxed and what will be exempt?

Can I claim for tax if I have been overseas for a year?

Posted 17 June 2013

My company has sent me overseas for studies with full pay for a year. I also receive an allowance for all my expenses overseas (accomodation, food, transport ...etc).
My first question: Should I declare all the allowance received while I was overseas? My second question: Can I claim for taxes that my employer has paid from my salary while I was overseas?
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