Must I keep a weekly logbook?

  Written by Marc   Posted 13 November 2012

My wife and I submitted a weekly logbook for the 2011/2012 tax year. My wife's one were accepted but mine declined. I can't now fill in a day to day logbook as I'm not going to thumbsuck where I've traveled during that year as this is impossible. What am I to do?

What about fees paid to the HPCSA? Are they tax deductible?

  Written by Marc   Posted 6 November 2012

I don't see any fees paid by me as reflected on my return as per TaxTim for the HPCSA and other fees as related to my profession- oral hygiene (cpd point package as required by HPCSA and a dental association), I only work for commission and want to know if I can deduct other expenses such as cellphone and petrol ? It doesn't get asked on your TaxTim and I suppose it needs corresponding codes for your IRP5 return?

What is the closing date for filing my individual tax return? I have just recovered from a terrible

  Written by Marc   Posted 6 November 2012

I am not sure of the kilometers I traveled, can I also get help on how to include this?

What if I have a company registered in the Seychelles, but I am a South African taxpayer?

  Written by Marc   Posted 6 November 2012

I am a South African citizen residing in South Africa and work from home on the Internet. My company is registered offshore in the Seychells and have an offshore bank account in Mauritius. I have no clients in South Africa or Africa, but work with clients in other countries and have mandates with companies in the USA, Moscow and Hong Kong. I stand a good chance to earn a substantial commission which will be paid into my offshore account. Can I opt to pay taxes in Mauritius as i also want to...

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Retrenchment pay-out tax code

  Written by Marc   Posted 1 November 2012

During the 2012 tax year I received a retrenchment pay-out. It is reflected on my IRP5 with tax code 3907. According to the tax code definition I got off the SARS website 3907 is defined as: "Other lump sums (e.g. backdated salaries extended over previous tax years, not approved funds)."

Tax code 3901 is defined as: "Gratuities (retirement / retrenchment)."

Does it matter that the code seems to be incorrect on my IRP5, is there a tax implication?

When receiving a travel allowance, can I claim depreciation the vehicle?

  Written by Marc   Posted 29 October 2012

I use my own car (which is financed) to do my work (labour law consultant) for a company. Can I claim depreciation against my car for this?

How do I access the page listing documents I need to complete my return?

  Written by Marc   Posted 29 October 2012

I am busy answering the questions on TaxTim but need to go back to the page containing the source documents e.g IRP5, IT3b etc. How do I do this?

How do I submit income tax? How do I calculate income tax?

  Written by Marc   Posted 16 October 2012

Hi

I need to submit my income tax for 2012 and how do I calculation my tax and complete the income tax form?
My monthly salary package is R13000 with pension fund incl. (I paid -R890 and company paid -R1210 show on payslip)

Travel allowance (R1000 per month)

So it's R13000 (incl. pension fund) Travel allowance R1000 = R14000 Gross income
And I also paid medical aid by myself ( -R960 for myself , -R1100 for my father and -R1100 for my mother) from my own pocket....

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How much tax do I get charged on a R10000.00 salary?

  Written by Marc   Posted 14 October 2012

I would like to find out on a R10 000 salary, how l much tax would be deducted and would I be eligible to claim tax in the future?

Sole Proprietor, Importing and Tax?

  Written by Marc   Posted 10 October 2012

Hi Tim

Hope you can help me as I'm having a hard time finding the correct information.
I would like to start importing small quantities of goods, for resale, into South Africa as a Sole Proprietor. Now as far as I can tell I will need to complete the following forms at SARS to get an Importers Code: DA185 and DA 185.4A1.

Now the thing is I don't have a tax number etc because I've just finished my studies and I'm just starting out as a Sole Trader, and from the looks of it the DA185 form requires that information....

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How do I treat a medical aid tax credit with regard to employer paying whole med aid which is includ

  Written by Marc   Posted 25 September 2012

I am an employee that has my employer paying my med aid in full, but it is included in my overall package. So technically i still pay for it. How do the calculations work out. The contribution is R 1356 pm. Before we were working out what was paid, minus the capped amount and allocating the diff. I have to do the interim recons for Sars and have no idea how the tax credit system will affect me. I am the only one in the company that is structured like this. Please help...

How should I structure my travel allowance?

  Written by Marc   Posted 25 September 2012

I have regesterd a small business and are drawing a salary as an employee. I travel a lot for the business. Should I ad a travel Allowence to my salary or have the business deduct it from it's tax and if I could ad a travel allowance what is the maximum and what can be payed from this allowance, eg petrol, maintenance and car payments.

Should I produce a log book at the end of the tax season or every month.

Which way is the most cost effective

Im having problems with claimig my km im a Rep and travelled about 60 000km

  Written by Marc   Posted 17 September 2012

I seem to be having a problem with claiming mu Km this year as last year I only travelled about 30 000km and apposed to this year I travelled 60 000 and the amount that I seem to be able to get back is less than half of last year?

How much do you have to earn to apply for your tax back?

  Written by Marc   Posted 17 September 2012

I earn approximately R127K per year and was wondering if I can apply for my tax back.

I have submitted incorrect logbook information to SARS, what does that mean?

  Written by Marc   Posted 17 September 2012

I did not keep a detailed logbook for the year and made one up from memory when submitting my tax return. I have now been selected for an audit and fear that my supporting documents and logbook wont correspond. What do I do?

Can I claim travel expenses if I haven't kept a logbook?

  Written by Marc   Posted 17 September 2012

I haven't kept a precise logbook for the year, may i still claim travel expenses as a deduction?

Can I complete my wife's tax return?

  Written by Marc   Posted 17 September 2012

I would like to join for the purposes of completing my wife's tax which carries a travel allowance? Will you do that if I should join on her behalf?

What can I claim as medical expenses for tax purposes?

  Written by Marc   Posted 20 August 2012

I incure monthly medical expenses due to my prostate op i had in 2009. I have a 6 month repeat script and check-up once a year. I keep my monthly tax invoice from the pharmacy. Sect 18 of Income tax says I can, but SARS does not entertain this. Can i claim for these expenses?

What response should I expect after submitting IRP5 to SARS?

  Written by Marc   Posted 20 August 2012

I submitted my IRP5 to sars & they said i'll get an sms, so far I have received nothing so i'd like to know hw long does it take to get their response and what response should I expect?

Are the SARS office calculations always right?

  Written by Marc   Posted 20 August 2012

I have received a ITA34 which shows the refund, I have now been audited 3 years consecutively 2010,2011 and 2012.I had no other information to submit only medical aid and was employed for 4mths of this 2012 tax year due to retrenchment.

Started freelancing, not paying provisional tax. Can TaxTim help?

  Written by Marc   Posted 20 August 2012

I have being earning some money on the side as a freelancer during this last tax year and I went fulltime freelancing in a personal capacity at the end of 2011.

Will TaxTim be able to guide me with the expenses I can claim as part of operating as a freelancer? SARS is very strict on when certain expenses can be claimed. They seem to only allow expenses when salary is earned on a commission basis.

Who pays and how much tax will be due on gifts given to family? Will there be a donations tax?

  Written by Marc   Posted 20 August 2012

My dad has investments, can he give lump sums to his kids as gifts and who will pay tax and how much? He was told he is not allowed to gift more that R5000.00 a year.

In order to deduct my home office expenses, do I need to be able to prove anything?

  Written by Marc   Posted 30 July 2012

I mostly work from home for my company. In order to qualify for the home office tax deductions, do I need proof that I work from home? If so what qualifies as proof ?

Can I claim medical expenses that I paid, but were for my mother?

  Written by Marc   Posted 30 July 2012

Last year my mother who is 62, and has retired on medical grounds, had to have open heart surgery which i had to pay for. Unfortunately she is not on my medical aid and i had to solely foot the bill of her surgery and all the other medication that she needed thereafter. Do i need to fill this in as part of my medical expenses when filling tax return for the year ended Feb 2012 as these are medical expenses that i incurred and i am the one who paid for this. I do have all the invoices of the expe...

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Why are there different levels of tax rebates?

  Written by Marc   Posted 30 July 2012

Why are there different levels of rebates, i.e, primary, secondary and tertiary, for natural persons? And what are the effects (on both individuals and companies) of the change from STC to dividends tax?
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