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?

If I get car allowance as part of my total guaranteed package. Can I still claim travel?

  Written by Marc   Posted 28 October 2015

My job requires a lot of travelling, I do have a car allowance that is part of my total guaranteed package. I do get reimbursed for the km's traveled and toll fees. Do I still have to complete km as per log book to SARS. Do I further qualify for a tax return in this regard?

Tax deduction for varsity students

  Written by Marc   Posted 28 October 2015

I have a son at varsity. I pay for his fees/boarding/accommodation, text books, all instruments use in the course. Is there any leeway for parents who pays for these student(s). Can I claim any tax deductions on any of these above.

Haven't worked a full year, tax return?

  Written by Marc   Posted 28 October 2015

I have only begun being employed this year June 2015. Do I need to file a tax return?

Working abroad, do I submit a return?

  Written by Marc   Posted 27 October 2015

Do I need to submit a tax return if I am currently working in the UAE and not residing in South Africa? I have been working abroad since September 2014. I have never submitted a tax return before as I was under the bracket and did not need to claim anything. I tried calling them but alas no answer...

Small Business - Administrative service

  Written by Marc   Posted 26 October 2015

I started a small business where I provide administrative services to one company at a cost of R10 000 per month. What will the tax implications be? Will I be able to register for turnover tax or what would be the best option?

Structuring of ctc package

  Written by Marc   Posted 26 October 2015

My question is how to structure your ctc package for tax purposes, for example my employers has only the following guidelines
Ctc=657 918 per annum. 70% must be taken as salary , the remaining 30% may be structured in a tax efficient manner. I'd like to add a car allowance, as well as a bonus 13th cheque to the value of +- 25 000, and I'd like the company to contribute 12% of package as pension. What should I also consider for tax purposes
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