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Latest Posts in Tax Q&A



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Time to lodge a dispute

Posted 8 January 2018

How long do you have to lodge a dispute on an assessment?

Bitcoin and Tax

Posted 8 January 2018

Are the earnings from Bitcoin taxable?

Question from Stephen

Posted 21 July 2017

You have a message from Stephen:



Hi I am wondering if I should include salaries and wages in cost of sales incurred section?
thanks



His email: scone8@gmail.com

No time to go to SARS

Posted 20 July 2017

I cannot get the time to go to SARS, is there a service that you
offer to get my SARS eFilling account active and then also submitting my IRP5s?

MY TAX RETURNS

Posted 20 July 2017

Question before I start.  I am at work and would like to file my tax returns with you.Should I be called to attend to customer's or answer the phone and I close the websitecan I then log on again and continue or once I start I must complete the entire process?
Thanking youMaria

Doctor's fees deductible if not on medical aid?

Posted 19 July 2017

Good Day. During 2016/2017 my wife stayed with me before we got married. We both had doctors visits but I did not have a medical aid yet. Can the doctor's fees be deducted from my tax? She also got pregnant with my child and we had monthly check ups.

P2p interest

Posted 19 July 2017

I earned interest on a Peer 2 Peer investment in the UK, at https://www. Ratesetter. Com/. As this is a non-SA entity they do not provide IT3(b) statements. It is also not a bank/ institution but independent loans. As such, I am not clear if or were to add this amount in TaxTim. I did get a statement with the amount received of 110. 25GBP. Do I enter this amount at the point of "Did you earn any interest from a foreign bank / institution? On your IT3(b) you will see an amount under foreign interest. " ?...

Read more →

SARS does not want to pay me the money it owes me.

Posted 18 July 2017

Good day, SARS owes me money, had to go through the ombudsman to prove this, successfully did so however, SARS now requires that I prove that I actually did pay an amount I owed 2 years back before they refund me. My question is: is that even legally allowed/required of me or is it foul play from SARS? Thank you for your assistance

Difference between provident fund and retirement annuity?

Posted 18 July 2017

There is no code 4006 on my IRP5, but I pay into a provident fund via my employer. There is an amount with code 4003/4473 (the same amount). Do I need to enter this amount anywhere?

This query relates to question 6806 "Do you have a %nextpass% Retirement Annuity Fund that you want to enter?" in the Retirement Annuity section.

Full amount of shares paid out or profit?

Posted 18 July 2017

I had MTN Zakhele shares which reach maturity and were paid out in December 2016. Do I include the amount that was paid into my bank account or the difference between what I paid for the shares vs what I sold them for?

This query relates to question 6431 "Please enter the total amount received from the sale here. This is known as the proceeds." in the Capital Gains section.

FW: Tax season reminder - 1 tax return due

Posted 18 July 2017


I keep receiving these messages. I have completed everything. Please advise as to how to submit?

Much appreciated.

Thanks and regards,

E-filing query and TaxTim

Posted 18 July 2017




I am a provisional taxpayer and would like to make use of TaxTim. However I
am not registered with E-filing. Therefore, must I be registered with SARS
E-filing in order to be able to make use of TaxTim's services? Or can
TaxTim submit tax returns directly on my behalf (note I will pay any added
costs if necessary) to SARS?



Thank you,

RAF

Posted 18 July 2017

Kindly advice me on tax deductions regarding RAF maximum amount that ca be
deducted.

If a person is on Salary range of 280 000 to 300 000 p.a.

The employer and contribute each 7.5 % of the basic salary p.a to pension


The employee currently contribute R405 per month towards retirement
annuity fund per month

The question is how much can be deducted or get refunded from SARS annual
or how much can contributed to RAF to ensure that he/ she is not paying too...

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Old 2009/2010 efiling returns

Posted 17 July 2017


SARS say they upgraded their system and have now seen i did not file a tax return in 2009,2010 and have fined me for each year. Both years i was under the threshold but they are insisting i file these returns. I do not have the IRP5 anymore and the company no longer exists. They advised that I open the return on efiling and can then submit as it should have all the info, I have done this but there is no earning/medical aid information etc.
How do i resolve this now as both returns are now sitting open on efiling and i am getting fined R250 per month now that i do not resubmit....

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What is accounting fees?

Posted 17 July 2017

What are accounting fees? This house is in a complex where levies are charged, does this count as accounting fees?

Outstanding certificates

Posted 14 July 2017

I have not yet received a certificate for my personal Retirement Annuity?

This query relates to question 6803 "Please enter the name of the Fund. You will find this on the Tax Certificate received from your fund. " in the Retirement section.

Claim on Pharmacy Bills

Posted 14 July 2017

I didn't keep my pharmacy receipts, may I still claim for these amounts? They do reflect on the my medical aid statement.

Change of login details

Posted 14 July 2017

I'd like to change my email address as well as my password.

Registration Verification

Posted 14 July 2017

I've received this message each time I make the request: "The tax type cannot be moved because the registration of the holding taxpayer is awaiting registration verification".

Renting Property and Travel Costs

Posted 13 July 2017

I'm renting out property in Cape Town and I stay in Johannesburg. When travelling down to Cape Town for maintenance/inspections purposes, do I claim the actual petrol money spent or the SARS rate of R3.29?

Are amounts of separate IT3b documents added together?

Posted 13 July 2017

I have two IT3b documents from different sources. Should I add them together?

This query relates to question 6480 "Please enter the total interest amount earned here. If you don't have an IT3(b) you can also add up the interest amounts appearing on your bank statement. This should appear next to source code 4201 on your certificate. " in the Interest & Investments (IT3b) section.

Financial instruments

Posted 13 July 2017

I am busy correcting my tax returns but have a query on financial instruments listed. Does my retirement annuity(s) value also need to be submitted as part of this value at the value it was on the 28th of February? The same questions goes for my TFSA which consists of stocks?

Penalty for non-submission

Posted 13 July 2017

I received a notification from SARS indicating that I have admin penalties
indicating that ITS outstanding tax returns for 2008, 2009 and 2010.
What does this mean and can you help rectify?

What are cost of sales in a consulting business

Posted 12 July 2017

What would cost of sales be in a consulting business - would my time be the cost? Would it be paper, laptop etc?

This query relates to question 4216 "Please enter the cost of sales incurred." in the Self Employed/Independent Contractor/Freelancer section.

Submit a return with medical aid claims on

Posted 12 July 2017

I wanted to enquire approximately how much it would cost for me to do my Tax Returns?
Just an estimation.
It would be just for me. Straight forward Gross Salary plus medical aid. No other claims such as commission, mileage, petrol etc.
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Blog Categories


Need help
submitting your
Tax returns?


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started