Tax Q&A

Policies where does that go?

Where do I put in medical aid contributions, retirement annuity, income protection, endowment policy, provident fund? Thanking youDebbie Mocke Only Medical

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Source code for admin fee on rental

What is the source code for rental administration income as a third party? Please look through the Business Source Code Table to see which code to use.

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CGT on jointly disposed asset

How to complete a tax return when you have jointly disposed of a asset that attracts CGT. Do you load it on both's tax returns or only one - married ANC with

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Late submission of previous expenses in new next year

How does one claim for items not included in previous tax returns which you came upon in the new tax year. Can I submit it along with my new tax returns or is

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Medical aid contribution certificates.

How do I get my medical tax certificates if my old medical aid ignores me? Please read our blog on Where to get Medical Scheme Tax Certificate

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Where on my SARS form do I submit info for a Unit Trust Investment if I get a IT3(b) Portfolio incom

Where on my SARS form do I submit info for a Unit Trust Investment if I get a IT3(b) Portfolio income summary? The interest details (foreign and local) nee

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Updating bank details do computer show is money are due to you?

When updating bank details does computer show that their are money due to you? The SARS consultant updated my details but did not communicate if money are due

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Is capital gain only for the period that a property is rented if it was a primary residence?

I would like to sell a rental property which was my primary residence from 1 September 2007 -30 June 2012. It has been rented out from 1 July 2012 till the da

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where do I put medical aid savings interest earned INCOME TAX - IT3(b) in the tax returns?

This year I received R400 from an INCOME TAX - IT3(b) from the medical aid as interest earned, this is the first time I receive it with an amount previously i

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I think I have the wrong IRP5

My period of employment was 01/05/2013. Can I still do that tax year?and how do I get a IRP5 for my current employment? I work for a real estate company and on

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Which section does capital gains tax fall under?

During the past tax year, my husband and I (married out of community of property) bought a property together to rent out. We fixed it, but subsequently sold i

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Made my own medical contributions whilst unemployed. Can I claim

If I was unemployed for the year and only received a payout from a provident fund, that was taxed by SARS. And continued to make contributions by myself to me

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Medical expenses in my return

My company pays my medical aid which is reflected on my IRP5 under code 4005. I have 4 dependants on their own medical aid. I pay the contributions from my ba

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Can I resubmit incorrectly done tax returns from previous years?

If I have incorrectly filled out a tax return from a previous year and this has resulted in penalties. Can I resubmit that year using TaxTim? Yes you can,

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How do I rectify outstanding RA amounts, without the documentation?

SARS says there is an outstanding amount from a RA in a 2012 Tax Return, because of this I have a very high penalty to pay. I can not find this documentation,

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Can I claim my expenses for traveling to work everyday? My tax code is 3616.

Can I claim my expenses for traveling to work everyday? My tax code is 3616. You can claim the km as you are not a salaried employee. I have calculate

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Forgotten Expenses

I have submitted my tax return via taxtim but have forgotten to include out of pocket medical expenses of R4180. Thanks for using TaxTim! If you log back

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Cash Receipts in lieu of benefits

Is the cash part of your salary received in lieu of benefits taxed? (usually when you are a contract worker) Yes, if it is classified as salary on your IRP

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UIF to be deducted weekly from Wages?

Should UIF be deducted from the employees wages weekly, if the employee gets paid Weekly Wages? Or add all the weekly payments together at month end, then ded

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TAX for vacation student

How do I register for a tas number if i'm a vacation student? Please read our blog on How to get a SARS tax number

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Tax on Cash Lump Sum

I have resigned and Agreed with my current employer to get paid my 3 month notice pay since I am starting my own business. How much tax is applied to a cash l

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Does TaxTim work for self-employed, freelance individuals?

Does TaxTim work for self-employed, freelance individuals? Yes it does, do you receive IRP5s? No. I get paid per client. I am a freelance designer.

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Home office

What evidence do I need to claim expenses for a home office? What expenses can I claim besides rental? You would be able to claim all the household expenses

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Interest on family loans

If I loan my child R150 000 and charge her 7,5% interest, would that be considered fair interest by SARS ( I will also donate R 100 000 to her in that same ta

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Tax on bonus from work

Hi, If I earn 12000 per month and get a full 13th bonus of 12000. 00. How much of my bonus will be tax Please make use of our SARS income tax calculator t

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