Fringe benefits for sale proprietors?

Posted 9 June 2016

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.

Is it necessary to inform SARS of additional income received?

Posted 9 June 2016

Hi TaxTim

I 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 items?

Is all income taxable together?

Posted 6 June 2016

If I earn a salary and then also bring in extra monies for side jobs, do I add up all the money I earn and then calculate how much tax to pay or do I keep the two amounts separate. So I pay PAYE on the salary and then work the percentage of tax separately for yhe monies. Please clarify this for me. Thank you

Can I be considered an independent consultant?

Posted 3 June 2016

I am currently an independent consultant, however at the moment 80% of my income does come from a single client. This is because I have not yet found more clients. I am not sure if I am to be treated as an employee based on what I have found out so far. I would strongly prefer (for client and me) to be treated as an independent consultant for tax purposes. Can I register for provisional tax as an independent consultant?

Some more information:
- I'm on retainer with one client for an average of 2 days per week (16 hours per week) since March 2016. - I bill monthly as a sole prop, highlighting the work I have completed and invoice a set amount as per the retainer agreement...

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Ho often does one submit the IRP6?

Posted 2 June 2016

How often does (and when) provisional tax need to be submitted? I thought it was once every 6 months, but the SARS date list says it has to be submitted every month.

Does capital gain require registration as provisional taxpayer?

Posted 30 May 2016

If I make a capital gain do I need to register as a provisional taxpayer?

Will SARS penalise me for outstanding tax returns?

Posted 30 May 2016

I'm not sure if I disappeared under the radar for some time now due to generating my own income for years barely surviving and then going bank. At that stage I was a provisional tax payer. Years down the line I did contract work making ends meat. I eventually got a secure job since 2013 - probably not earning enough to register as a tax payer in order to submit tax returns? However I think this might be a different scenario now.

Employed by a foreign company, and need to pay over my own tax, how much will it be?

Posted 30 May 2016

I've recently become a contractor to an overseas company, I've been informed, that I have to pay my own income tax. I send them invoices. My monthly invoice fluctuates between 22000 and 30000 as I get paid on a daily basis. I don't get an IRP5, and I pay my own medical and recently setup my own RA contribution. I need to pay my tax. When and how much do I need to pay. I've been a contractor for them from January 2015 to now May 2016

Tax on part time work

Posted 27 May 2016

I am currently employed and my employer pays PAYE. Recently I undertook small part time jobs probably totaling around R40 000 income for the financial year. Do I need to register as a provisional tax payer, or can I declare this additional income under the local business section of my SARS tax return?

what expenses can i claim if I own a taxi?

Posted 26 May 2016

If I own a second vehicle and use that second vehicle 100% as a Taxi. Would the tax be payable on only the income or payable on income - (minus) expenses?

For example, monthly costs breakdown as follows:

Expenses: Vehicle Repayment Costs - R1500 / Vehicle Insurance: R1100 / Vehicle Tracking Costs: R100 // Total: R 2,700. 00

Income: R 8,000. 00

Income (R 8,000. 00) - Expenses (R 2,700. 00) = R 5,300. 00

My question is. Would I pay tax on the income of R 8000 before deducting expenses...

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Tax directive withheld due to tax debt

Posted 24 May 2016

If tax payments to SARS is outstanding, why won't SARS issue a provisional taxpayer with a tax directive

PAYE vs Provisional tax for a member of a CC

Posted 23 May 2016

I am a member of a CC and have 80% interest in the company. I run the operations of the company and have been paying myself salary. The company never registered for PAYE as I was paying provisional tax and I was the only one earning a salary. Now the company is hiring more people and we have registered for PAYE/UIF. DO I carry on submitting provisional tax instead of PAYE or do I cancel Provisional tax and start paying PAYE. If I don't register for PAYE, what can the company provide me with to p...

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What will my tax liability be if I start a business?

Posted 23 May 2016

Hi, I can provide services such as graphic design, animation, music production and web development. I recently caught attention of few business owners wanting me to do work for them, will I need to pay tax approaching them as self employed individual? I am prepared to charge everything once off based.

Additional income, and when do I register for Provisional tax?

Posted 18 May 2016

If I do freelance work and get paid via Paypal what are the tax implications of withdrawing the funds into an FNB account, this would be a second source of income

What documents to submit when I use TaxTim to submit my tax return?

Posted 5 May 2016

I am a Sole Proprietor and have signed up for individual tax and provisional tax with you. With regards to my Tax documents, can I send you my bank statements and slips, as well as a summary of my payments on an excel document?

Forex trader tax allowable deductions

Posted 5 May 2016

I want to become a Forex Trader and would like you to advise me on how do I go about? (do I need to form some sort of form from SARS for tax or the money/profit that I will be receiving from overseas would be already taxed and if so what is the name or type of that Tax)

Tax on foreign earned income

Posted 5 May 2016

I've been working overseas temporarily and have save up 2600euros, when I come home will this be taxed when I exchange it to rands.

Foreign employment income

Posted 4 May 2016

Please advise the tax application on the following

1. SA residents living and working in South Africa for a overseas company. 2. Receiving a salary from the overseas company-paid in ZAR to the employees. 3. Should the foreign company deduct PAYE or should the employee be responsible for it when
submitting their Income Tax in SA.

Tax on a sole proprietor

Posted 29 April 2016

I have just opened a sole proprietor in my name. My questions is probably one of the most common ones but I would love to receive a clear answer. I would like to know:
~How much Tax would I pay on my sole proprietor income?
~Is it Tier related?
~Or is it the same Tax doesn't matter how little or much my sole proprietor earns?
~Can I claim this tax back?
~And final question How does my own income apart from the sole proprietor effect the taxes?

Tax liability for an Independent Contractor

Posted 25 April 2016

My son started as a independent contractor March 2015 and has not paid tax. He earned R10k for 2 months and R5k for the rest of the year. He got paid a lump sum of R80k when the job was done. He is going to SARS but what tax or penalties can he expect

May a sole proprietor have travel allowance and must retirement or providend fund be deducted monthl

Posted 21 April 2016

I would like to know if a sole proprietor may allocate a travel allowance to himself?

In regards to a retirement or provident fund may I do payment once a year up to 27. 5% of my earnings or must I do it monthly?

Your help will be greatly appreciated

WS

filing season dates

Posted 20 April 2016

When is the first tax return date and when is the closing date?

Tax paying Freelance Artist / Independent Contractor

Posted 20 April 2016

I am a freelance artist, I want to work fulltime for myself, but can't be certain how much I will make or whether I would make any money at all. I am married in community of property. My husband is lucky enough to have an employer that takes care of his submission every year. I need to ask whether I should add my income to his submission or whether I should have my own tax number. I tried to enlighten myself by reading the Tax website,, but it's all greek to me, I can't seem to figure it out. I ...

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How is online income in foreign currencies taxed locally?

Posted 19 April 2016

Hi. I'd like to know how online generated income is taxed. I am a South African resident currently in the process of generating income in foreign currencies ( US dollar and the Euro). I do not want to break any tax laws, please assist me.

Tax returns

Posted 15 April 2016

When can I submit my tax returns for the year 2015/2016?
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