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...

Read more →

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?

Is the decision to replace the medical deduction with medical tax credits more equitable?

  Written by Marc   Posted 30 July 2012

The current medical deduction system provides relief for individuals contributing towards medical schemes and out-of-pocket medical expenses. However it is inequitable in that it affords greater benefit to higher income taxpayers. Will the Finance Minister's decision to replace the current medical deduction allowances with medical tax credits be more equitable and fair to taxpayers across all income groups?

WHAT AMOUNT CAN I CLAIM BACK ON PERKS TAX FOR A COMPANY VEHICLE

  Written by Marc   Posted 26 July 2012

I pay perks tax on a company vehicle and do minimum private mileage with the vehicle, what can I claim back?

I am an employee, how come I owe SARS more money?

  Written by Marc   Posted 26 July 2012

My payslip shows all the deductions including tax that I pay monthly, so I don't understand how I got to owe SARS R1700 where as I pay monthly via PAYE?

Tax season open - What can I claim as a deduction to reduce my tax?

  Written by Marc   Posted 11 July 2012

Salaried employees all over the country are busy filing their tax returns in the hope that perhaps they will be due a refund. For most who earn income from their employer they have already paid their taxes in the form of Pay-As-You-Earn (PAYE), but now what? Although salaried employees are limited, by tax law, as to what they can deduct from their income, there are a few things that can be claimed. Deductions against income reduce ones Taxable Income and thus reduce the amount of tax owing to SARS. The allowable tax deductions are:...

Read more →

How do I calculate how much tax I owe?

  Written by Marc   Posted 23 April 2012

TAX PAYABLE is essentially calculated as follows:


Read more →

How do I know if I am a tax resident of South Africa?

  Written by Marc   Posted 15 March 2012

A burning question people often ask tax professionals is whether or not they are a tax resident in a certain country. The question is important because it distinguishes between tax residents and tax non-residents – both paying tax in South Africa.

• Tax non-residents are people who do not ordinarily reside in South Africa but do business here and thus pay tax to the SA government ONLY on what they earned from South African sources.

...

Read more →

What is Provisional Tax?

  Written by Marc   Posted 6 January 2012

So as we are getting closer to Provisional Tax Season the question on taxpayer’s minds is, do I qualify as a provisional taxpayer? The Income Tax Act sets out specifics as to who qualifies and who doesn’t.

If you are a salaried employee then your employer will deduct a monthly amount and pay it over to SARS on your behalf. You will only have to file one tax return at the end of tax season.

Otherwise you may qualify as a provisional taxpayer and will have to submit a return twice a year...

Read more →
← Newer posts    33  34  35  36  37  38  39  40  41  42  43