Tax Q&A

Submitted tax return but forgot medical certificate - can I change it?

Hi Tim..I have submitted my RIP 5 last week but received my medical certificate yesterday by email from Discovery Health. My question is... do I have a chance t

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How to reflect transfer of Pension Fund to Retirement Annuity on ITR12?

Hello, Within the last tax year I changed jobs and in doing so had to transfer my pension fund from my former employer to my Retirement Annuity as my new employ

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What happens if you can't pay the SARS penalties but can pay half?

What happens if you owe SARS and have been told you have to pay within 6 months but you can actually pay half of the required amount only? I have been told to p

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I was never issued wth my IRP5 form so how do I claim?

My employer didn't give me an IRP5 form so how do I claim tax return without it? Your employer has a duty to provide you with an IRP5, and you can demand it

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Tax refund

I have registered to SARS so I want to know how will I get my tax refund? You need to complete and file a tax return before you are able to receive a refund,

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I have never filled in tax returns.

Hi there,Im looking to buy property later this year and my girlfriend says I need to start filling in tax returns. I have never done this before, always been so

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Will Sars let me know whats going on will I get my refund what does this mean.

Hi TimI have a question:I have submitted my tax return on the 1st August 2013 then on the 3rd of August they asked that I should upload all my documents. It is

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What are the tax implications for shares that have been sold?

I am a pensioner over 65 and receive a pension from a living Annuity and a small income from interest (plus minus R5000 interest per annum). In March 2012 I sol

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Dual taxation query for international property

I am living in SA as an SA permanent resident with property in the UK, rented out. Hardly makes any income, so tax is minimal but a UK tax return is filled in.1

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Completion letter / Verification of Assessment received

Hi Tim,I submitted my return and was asked for supporting docs which I duly submitted. Today I received a Completion Letter from SARS and just uploaded it to fi

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If I make R1m and give 30% to charity, how much tax do I pay?

If you give more than 10% of your to income charity, do you pay both donation tax and income tax on the amount you gave to charity? If you donate to a charit

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Due date for submission of IRP5

When will it be the last day to submit my IRP5? If you are a normal salaried earner then the last day for submitting your ITR12 Income Tax Return (your IRP5

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Allowable deductions from rental property income

Hi there,Which expenses may be deducted from rental income? Repairs, levy, rates & taxes? Also, for this particular property, we lived there for 6 months of

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Tax implications of dividends from both local and foreign investments

Please describe the tax implications of dividends from both local and foreign investments. Both foreign and local dividends are taxed at a maximum rate of 15

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Can I register my business for tax after 2 years running?

I have a business that is just breaking even. I cannot afford to pay tax. The business is running for two years now and we have not registered for tax or for VAT

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How to include sale of house and RA in the Statement of Local Assets and Liabilities

ITR12 Query: Statement of Local Assets and Liabilities1. Form states that Local Assets should be listed at cost. Does this mean the cost of the asset when it w

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Must I deduct PAYE from a Namibian resident working in Namibia for an SA company?

As a South African Company we want to employ a Namibian resident to work in a Namibian store for us but his income will be from us here in SA. Must he register

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How does having an investment policy help reduce my tax?

With Old Mutual I have an investment. Can I claim this as a tax deduction? Unfortunately investments made do not offer a tax deduction. In fact, the interest

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Tax practitioner charge fee

Is it legal for a person helping with efiling to charge me a 20 percent fee? There is no set charge for anyone assisting with tax return completion. It is up

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R 7,000-00 once write off, what if 4 machines bought each at R 6,000-00 ?

Hi Tim. Do I understand that the R 7,000-00 write value is a once write off for items less than R 7,000-00? What is the situation then if I start my business wit

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Medical expenses paid from a joint bank account

We are married in community of property with one bank account in my name. My wife and our children have individual credit cards on the account and all my wife's

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Tax payable on gifts

Hi Tim, will I be liable for income tax on monetary gifts received from overseas ? Not for once-off receipts of gifts, unless it is seen to be income receive

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Supporting docs for sole prop tax return

What documents should you submit to SARS when they request supporting documents for income tax returns as a Sole proprietor ? At first a spreadsheet of all i

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Can I deduct the tax credit as well as the medical contribution paid as a pensioner?

I am a pensioner now, can I deduct the tax credit as well as my medical contribution paid by my self? You will deduct all medical expenses and receive the fu

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Pay tax on R3600 pm?

Hi, I work for 2 yrs I was earning R3600p/m before provident and UIF and was given an IRP5 once. I have been dismissed since March 2013, can I still claim for a

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