Tax Q&A

What is VDP?

What is a VDP agreement It is essentially a process whereby a taxpayer can voluntarily come forward and regularise their tax affairs with SARS if there ha

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I'm unemployed, can I get a tax number?

Can I be able to get the tax number if I haven't been in a workplace? Yes, you can - read our blog on How to get a SARS tax number for details

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old nil returns

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. Befor

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

HiNovember 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 Afr

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Foreign investment account

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 per

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

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 confir

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CGT on transfer of shares

HiMy client started 2 companies and was the 100% shareholderHe now wants to transfer the shares to his holding companyWith regards to the cgt calculation can

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

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.

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Vat for services received and rendered in Botswana

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 ex

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How do i claim travel expenses if I used 2 cars

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 ano

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Is loan repayments taxable?

I own a business where I borrowed money to buy the business. Will I pay tax on the capital portion of the loan repayment. No you will not, capital repaymen

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Tax free lump sum portion

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 w

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Completion of income forms for the CIPC

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 th

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Tax number needed for unemployed person

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 tran

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which tax year do i file for?

What year must I choose if I do my tax return now It depends what year you are filing for. If you are up to date with your tax affairs and want to file for

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Tax on backpay

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

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Rebates for both primary and secondary tax payers

Require amount of rebate (primary,secondary,and Tertiary) for 2/2017 For 2016/2017-Primary R13,500Secondary (65 and older)

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Fringe benefits for sale proprietors?

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. No,

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Is it necessary to inform SARS of additional income received?

Hi TaxTimI 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

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Am I able get a tax refund?

How do I know if I qualify for my tax return If you earn above the tax threshold and therefore pay tax to SARS, you need to file a tax return to see if you

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Long partnership regarded as marriage for tax?

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 gi

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Claim for home office expenses

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

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Does the sale of a Holiday Home attract CGT?

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

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Tax refund on withdrawal of pension lump sum

Hi do you get your tax back when you resigned after they deducted your money from your pension funds. Unfortunately not, that is a full and final tax.

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Tax season preparation

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 the

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