Reclaim attorney costs

  Written by Marc   Posted 4 November 2015

Good day
I want to find out, I've bought a flat and it was registered in March 2015 on my name. Can I reclaim the attorney fees and where I complete it on the tax form, in other words, costs of Duty, transport costs, registration of deed
Thanks

Duplicate expenditure for both employment and freelance monies earned

  Written by Marc   Posted 4 November 2015

I am permanently employed and work from home. I also have a freelance business that I run after business hours, using the same equipment (laptop, printer, office furniture) and space that I use working for my permanent employer. I have noticed that under the "Tax Deductions" and "Business and Rental Income" sections that there are duplicate questions regarding depreciation, travel costs, lease and electricity expenditure used during earning my monies. Do I complete both sections with the same in...

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How can my payment be audit twice.

  Written by Marc   Posted 4 November 2015

I submitted my tax return via SARS eFiling on the 1st of July 2015. I was not selected to be audited. I did not get my refund as usual. When I contacted SARS they said that my payment is being audited. On the 30th of September I received a letter stating that I must submit supporting documents. The documents was submitted on the 1st of October. A completion letter was issued on the 3rd of November stating that my assessment was not changed. When I inquire now I am told that my payment is being a...

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Where do I declare the bond amount on rental income?

  Written by Evan   Posted 4 November 2015

I'm stuck in the section where I declare the rental income for a house I was renting out. I don't see where I put total I spent on the bond to justify that it was a loss against the rental income and the expenses incurred. Where do I do that?

Travel Allowance & Company Provided Vehicle

  Written by Marc   Posted 4 November 2015

Please advise if you are able to claim if you receive a travel allowance and use a company provided vehicle during the day to visit clients?

Can you claim any expenses against income code 3714

  Written by Marc   Posted 4 November 2015

Can you claim against income code 3714

Claiming medical expense not covered by medical aid

  Written by Evan   Posted 4 November 2015

My partner has no medical aid & is a full dependent of myself.

A) How do I claim her medical expenses?
B) How do I claim medical expenses not covered by my medical aid for myself?

What is tax return?

  Written by Marc   Posted 3 November 2015

What is tax return? and how do I benefit if am paying tax

How to fully claim against code 3703

  Written by Marc   Posted 3 November 2015

How does the IRP5 code 3703 work in conjunction with the 8000km per year travel limit

Would I have to register as a provisional tax payer?

  Written by Evan   Posted 3 November 2015

I was a permanent employee at a company for the first 6 months of the tax year. I have gone freelance for the remainder of the tax year and the foreseeable future. I am receiving a salary in effect as the companies I freelance for deduct 25% tax on my earnings and pay me a monthly lump sum (salary) and they provide IRP5s. Does this mean I won't have to register as a provisional tax payer and also at 25% tax could I apply for a tax directive?

Audit from SARS? How Long?

  Written by Marc   Posted 3 November 2015

How long can I wait for my tax get paid out when they send it for audit?

Travel allowance - deemed vs actual cost for commission earner

  Written by Evan   Posted 3 November 2015

I am a SARS commission earner. I would like to claim back the use of my vehicle to earn commission. I have a detailed logbook. Where and how do I claim these expenses? According to the TaxTim wear and tear calculator, I should use deemed cost, however I never received a travel allowance on my IRP5.

Retirement annuity contribution from previous year

  Written by Marc   Posted 3 November 2015

I paid a lump sum into a retirement annuity investment in Feb 2014. I forgot to include any of it on my Feb 2014 tax return. There are no further contributions at this point. Q1: must I include the value of the annuity in my statement of assets and liabilities (I have rental income so I am completing that section); if so, under which heading does it fall? investments?
Q2: I saw something about carrying over R1800 in RA contributions to the next year. Is this correct? Do you put this under ...

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Will SARS allow personal vehicle expenses as deductible if the vehicle is partly used for business?

  Written by Marc   Posted 2 November 2015

I own 18 rental apartments which I am renting out. I will be retiring next year from my employment and concentrating on managing these properties and also doing related maintenance myself. I currently own a SUV vehicle which I intend keeping and using it for both property maintenance and also private purposes. Will the tax authorities allow a portion of the vehicle expenses as tax deductible against the rental income to the extent they relate to property maintenance, or do I necessarily need to ...

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Audited, how long does it take to be paid out?

  Written by Marc   Posted 2 November 2015

I have been audited and as this is the first time that it has happened to me, I have send through all documents that they requested. I was travelling away for work and could only electronically updated my papers for them on the 06/10/2015 after they send me a letter that I am being audited on 09/109/2015. According to my knowledge you have 21 Working days to send all paper work threw as from day of notice. Till now I have not received any information on when the money will be paid out. No other ...

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Does it take long for SARS to tell if im getting my return or not as they went for auditing

  Written by Marc   Posted 2 November 2015

I have sent my tax return to SARS on the 5th of October and was send for auditing for 3 weeks and still I hvent get a respond from them

Medical claim - proof of bills required?

  Written by Evan   Posted 1 November 2015

Do I have to send medical expense bills to SARS?

Who should submit additional medical expenses - main member or spouse?

  Written by Evan   Posted 29 October 2015

I am the main medical aid member (cover for myself and my spouse). We ran out of our MSA and we incurred some expenses that my spouse paid for herself.

My Question:

Who should submit additional medical expenses not paid for by our medical aid when doing our tax returns, myself or my spouse?

When must Capital Gains Tax be declared?

  Written by Marc   Posted 29 October 2015

If Capital Gain tax I have incurred is less than the R30,000 allowance, do I still have to declare it in my Tax tax return?

Is my pension taxed when transferring from one fund to another?

  Written by Evan   Posted 29 October 2015

I changed jobs and requested that my pension be transferred from the previous fund to the new fund. This was done, but the old fund was taxed. I did not withdraw any of the money, so I am inquiring if I should have been taxed or can SARS provide me with a refund?

Spreadhseet for allowable deductions for letting

  Written by Evan   Posted 29 October 2015

Do you have a spreadsheet for private rental/subletting deductions?
Also have some fixed income. Been privately submitting to SARS for 10 years now.

Tax deduction for computer

  Written by Evan   Posted 29 October 2015

On the 31st January 2013, a company purchased computer equipment R34,750. This equipment was stolen on the 1st October 2014 and Insurance proceeds of R14,500 were received. What would the tax deduction be?

Do I declare capital investment into rental property in my ITR12?

  Written by Marc   Posted 28 October 2015

Hi TaxTim. When using capital to build or purchase a rental house, is this considered an investment of which the outlay of capital does not have to be declared in the tax year in which it was acquired? (I do not refer to the rental income or taxable portion of the rental income. ) Only in the event of selling the investment property would one then do the sums of proceeds of investment minus the base cost?

How long does a payment dispute assessment take?

  Written by Evan   Posted 28 October 2015

I'm a seasonal worker I've submitted my tax returns in August, was suppose to receive my first payment on the 1st of October but it was reversed because my tax cert indicates I've worked for 4 months in 2015 tax year, SARS requested that I submit an affidavit and I did all of that but since then haven't received any correspondence from SARS.

How long is it going take for them to reverse back my money to me? Or should I be worried there's more issues coming?

Interest on bond payments

  Written by Marc   Posted 28 October 2015

Can I claim interest paid on a bond as an expense for an investment property where I receive rent. Will that differ for the interest paid on a bond for an empty stand (also investment) where no rent is received yet?
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