Tax Q&A
Haven't worked a full year, tax return?
I have only begun being employed this year June 2015. Do I need to file a tax return? Yes, if you are earning above the tax threshhold of R73,650 per annum
Read moreCapital Gain Tax on Sale of Shares by a Non Resident ?
I am a non resident having Investment in Shares of a closely held company in south africa. Now I want to sell my shares to a Registered South African Company.
Read moreAssistance needed to fill bank details
In the last year from May 2014 to Jul 2015, I was deputed to Johannesburg, South Africa with Intra Company Transfer Visa. While tax returning back to India I
Read moreWorking abroad, do I submit a return?
Do I need to submit a tax return if I am currently working in the UAE and not residing in South Africa? I have been working abroad since September 2014. I hav
Read moreReceiving money for my father
My dad (not South African, and resident in Zimbabwe) receives a modest retainer from a South African company that he sells product for in Zimbabwe. He decided
Read moreBank account verification
Good Morning. My wife and I have moved to Namibia in March. I have closed my Standard Bank account, and are trying to get my wifes FNB account verified with S
Read moreTime limit for submission of returns?
When must 2014 to 2015 IRP5/IT3(a) tax returns be in by? The 2015 Tax Return covers the period 1 March 2014 - 28 February 2015. For non-provisional taxpaye
Read moreTo avoid long queues can I submit here every year?
Can I submit via SARS eFiling every year to avoid long queues? Yes, your Tax Return can be submitted every year using eFiling rather than going into a SARS
Read moreSmall Business - Administrative service
I started a small business where I provide administrative services to one company at a cost of R10 000 per month. What will the tax implications be? Will I be
Read moreStructuring of ctc package
My question is how to structure your ctc package for tax purposes, for example my employers has only the following guidelinesCtc=657 918 per annum. 70% must b
Read moreSARS Threshold
Hi Tim,I have just received a notice of assessment from SARS yet again. What is the threshold before SARS actually audits you? I've heard its anything above R
Read moreClarification of record of donation
Does the R100 000 free donation between spouses have to be an actual transfer of funds or is it purely a paper transaction and or are there any SARS forms to
Read more4 months contract... Will I be taxed?
I have been unemployed for a year, and will start a 4 month contract on Dec 2015 to end March 2016. Salary will be R11 000 gross. And intend to not work the r
Read moreDispute last season's tax return
Can I still dispute last season's tax return, as I feel that it was not correctly handled. Yes you can, click, but you will need to provide reasons to SARS
Read moreGot ITA34 but not received anything further
I submitted my tax return through SARS eFiling about 2 months ago. And I got an ITA34 about an hour afterwards. And on it says I owe a negative value which I
Read moreWill I be taxed on reimbursive travel allowance code 3703 or audited if no log book?
I did not have a travel allowance however we were reimbursed by our employer for travel (under 8000). My IRP5 states that I received R17909 for code 3703 (rei
Read morePROVIDENT FUNDS
Why are 4003 deductions showing at zero FOR THE 2015 YOA? Provident fund contributions are not deductible for tax purposes for the 2015 year of assessment.
Read moreCar Deductions
As a SARS commission earner, I keep a detailed logbook. Do I need my petrol slips for anything?also where does deemed vs actual cost come in? Do you receiv
Read moreCan I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table
I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?
Read moreRefund on tax paid for shares payout
Hi,I was employed by Woolworths and we belonged to a share scheme where we had to stay in the companies employment for 5 to 8 years in order to qualify for th
Read moreSARS source code for Dividend Income/Foreign
I received an IT 3(b) statement from dbXTrackers with a new (wasn't there last year) entry, under Dividend Income, namely, Foreign. Can you please advise what
Read moreTax number for employee from Zimbabwe
Hi, I would like to find out how I register an employee from Zimbabwe for tax and how can I get a tax number for this person? Please read our blog on How
Read moreBy when must all returns be submitted
By when must all tax returns be submitted Non-provisional taxpayers need to be filed by 27 November 2015. Please Register for TaxTim and let us help you
Read moreCustoms codes on VAT returns
Where can I find a list of customs code for use on VAT201 returns? You can download the list from the SARS website by searching for VAT201 Codes.
Read moreCan PAYE, UIF and Provisional Tax be claimed on Income Tax Return (ITR14)?
Hi TaxTimI would like to now, can a Company claim PAYE, UIF and Provisional Tax on a Income Tax Return (ITR14)?Thanks in advance. PAYE is a tax born by th
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