Can you help me calculate the tax on my pension lump sum?

Posted 16 May 2016

I'm getting a pension payment of R230 156 ,08 how much tax can I expect to pay?

Capital Gains Tax vs Donations Tax

Posted 16 May 2016

Provide a reason why there will be no Capital Gains Tax consequences on the receipt of R50 000 as a donation be.

Donation or inheritance being the source of the funds

Posted 15 May 2016

My daughter died suddenly and she left her annuities to me, her husband, daughter and son (four people), the insurance company made a mess up of the division of the assets and will not change them. Therefore my son in law has to pay over to me the amount of R258 000, to make up my share, as the money was left to us in her estate, is this amount a donation or an inheritance? I feel it is unfair for him to pay tax on this money, when it is not part of his assets, but part of the inheritance recei...

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Sequestration and Business Vehicles

Posted 13 May 2016

If I have been declared insolvent, can I still make claims against the business use of a vehicle if not registered in my name? For example, I make use of a vehicle registered in someone else's name, but I still make the payments as I am the driver of the vehicle for business purposes. Also, what if exemption was granted and I kept my vehicle, will I then still be allowed to claim against the use of my vehicle used for business even if I am sequestrated?

Severence package tax free amount

Posted 13 May 2016

I have received a severance package in the 2012 tax year. Were the tax tables in existence then and would I have gotten the R 500 000 tax free amount already.

Do I get taxed cancelling an Retirement Annuity when living abroad.

Posted 13 May 2016

I have emigrated to the UK and want to cancel my retirement annuity fund because of it. As I now live overseas, will I still be taxed?

Documents needed for home office deductions

Posted 13 May 2016

I have recently started a new job which is contracted as home based. What documents should I start collecting / saving to ensure that I am able to write off expenses incurred on my home office etc?

Do you submit to SARS on clients behalf?

Posted 13 May 2016

Do you provide a service, whereby you do the submissions on my behalf, like what my broker does?

What tax will I pay on a second job?

Posted 12 May 2016

I currently have a job and paying tax monthly to SARS. Now I am about to get another job which will pay R3000 am I required to pay tax on this second job? How does it work. And can I use another bank account to get paid?

International transfers and disability income taxed in the UK

Posted 12 May 2016

I am living abroad and get a disability income from Discovery Life every month paid into my South African account. If I want to transfer the money over a UK bank account, how do I do it? Also, are there tax implications in the UK then as well as South Africa when bringing it in?

Non-Pensionable income

Posted 12 May 2016

May you please advise what is a non-pensionable allowance and how does it work.

I pay rent monthly, can I claim a portion back from SARS?

Posted 12 May 2016

If I am renting out a flat, can I claim a portion of what I pay back from SARS?

How do I get a tax number when I am expecting a varying income from offshore investments?

Posted 12 May 2016

How do I apply for a tax number when I am expecting a varying monthly income by investments internationally?

Tax implications of UIF benefits

Posted 12 May 2016

I retired at age 65 during the course of the 2016 tax year. I claimed UIF retirement benefits which I received monthly (part in 2016 tax year and part in 2017 tax year). Will this UIF retirement benefit impact on my annual taxable income? Will I be receiving an IRP5 or IT3a from the UIF?

Tax on divorce settlement

Posted 12 May 2016

I would just like to know if I will be taxed on my divorce settlement?

Tax on gambling winnings

Posted 12 May 2016

Is lotto winnings taxable?

Is it allowable to claim coffee, tea and filtered water for business purposes in a private company?

Posted 12 May 2016

To what extent can one deduct coffee, tea and filtered water for business purposes (operating as a private company)? I am fully aware that input tax cannot be claimed on these expenses. Will one however be able to deduct for income tax purposes under Section 11(a) if the purpose of buying the coffee, tea and water is to consume during business hours?

Rental Income on room rented at Primary Residence

Posted 12 May 2016

You speak about rental income earned on a second property, and expenses (interest, electricity, etc) that can be deducted from the income. Does the same apply to a primary residence owned by the taxpayer where additional income is generated eg. By renting out a room in the property?

Tax on rental income

Posted 12 May 2016

I have a friend that wants some advise, she owns a business, her husband owns a business. They own property where tenants live. My question is, if they married in community of property who should declare that rental income.

Do we record the VAT inclusive amount in our books of accounts?

Posted 11 May 2016

Do we record a Vat inclusive amount in the purchase account? e.g.. Purchased equipment for R108 300(inclusive of VAT) on credit, or do we just record the amount exclusive of VAT.

Taxes for a R5000 part time job for foreign student visa holder

Posted 11 May 2016

As a foreign student, do you have to pay taxes on a salary of R5,000 per month. I am working 80 hours per month.

Can I net off rental income against my rent payments?

Posted 11 May 2016

I am receiving rental income on my primary residence and am paying rent to stay in another apartment. Obviously I need to declare the rental income but can any of the rental I am to paying out be set off against this income?

Am i due for a tax refund?

Posted 11 May 2016

I want to know if SARS owes me money

Tax penalty on outstanding returns

Posted 11 May 2016

I haven't filed a tax return in 2 years what is the penalty?

Tax calculation

Posted 11 May 2016

Tax applicable to monthly salary R29,024. 00 for a period from 3rd Nov'15 to 29th Feb'16
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