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

SARS Threshold

  Written by Marc   Posted 26 October 2015

Hi Tim,

I have just received a notice of assessment from SARS yet again. What is the threshold before SARS actually audits you? I've heard its anything above R30k. Is this true?

4 months contract... Will I be taxed?

  Written by Marc   Posted 25 October 2015

I have been unemployed for a year, and will start a 4 month contract on Dec 2015 to end March 2016. Salary will be R11 000 gross. And intend to not work the rest of 2016. Will I have to pay tax if I am employed temporarily?

Got ITA34 but not received anything further

  Written by Marc   Posted 25 October 2015

I submitted my tax return through SARS eFiling about 2 months ago. And I got an ITA34 about an hour afterwards. And on it says I owe a negative value which I assume means that they need to pay me, and it says that I've not been selected for an audit, and there hasn't been any request for supporting documents. But it's been 2 months and I've heard nothing, nor have I received any payment?

Will I be taxed on reimbursive travel allowance code 3703 or audited if no log book?

  Written by Marc   Posted 25 October 2015

I did not have a travel allowance however we were reimbursed by our employer for travel (under 8000). My IRP5 states that I received R17909 for code 3703 (reimbursive travel allowance). This is a substantial figure & I am sure it also then includes funds that were paid to my company diner's card for airfare. Will I be taxed on this amount, or is it non-taxable income? As I was not receiving a travel allowance I did not keep a log book. Was I supposed to?

PROVIDENT FUNDS

  Written by Marc   Posted 25 October 2015

Why are 4003 deductions showing at zero FOR THE 2015 YOA?

Car Deductions

  Written by Marc   Posted 23 October 2015

As a SARS commission earner, I keep a detailed logbook. Do I need my petrol slips for anything?

also where does deemed vs actual cost come in?

Can I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table

  Written by Marc   Posted 23 October 2015

I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?

Can PAYE, UIF and Provisional Tax be claimed on Income Tax Return (ITR14)?

  Written by Marc   Posted 22 October 2015

Hi TaxTim

I would like to now, can a Company claim PAYE, UIF and Provisional Tax on a Income Tax Return (ITR14)?

Thanks in advance.

Do not know how to complete the Local Business, trade and professional income section

  Written by Evan   Posted 22 October 2015

I am struggling to capture my income and expenses generated as a consultant. I do not know which fields to complete having gone into Local Business, trade and professional income.

Please help with supporting documentation.

  Written by Marc   Posted 22 October 2015

Can I submit my supporting documents to you? Or must I do it via eFiling?

The email from both SARS and you does not clearly indicate which documents to submit. Regards

Difference between source code 4001 and 4002?

  Written by Evan   Posted 22 October 2015

The retirement form questions on TaxTim ask if I have code 4002 on my IRP5. I don't have 4002 (ARREAR PENSION FUND CONTRIBUTIONS), but I have 4001 (CURRENT PENSION FUND CONTRIBUTIONS).

Can I not claim for this contribution?

Additional income capture for private work I was not taxed on

  Written by Evan   Posted 21 October 2015

I did some private work during 2014 for which I was remunerated, but not taxed. Please advise how to add this to my tax return and how to claim for the expenses incurred in this period as well.

This is my first time to submit my tax return

  Written by Marc   Posted 21 October 2015

I have never submitted a tax return before, will I be penalised for this

Are penalties incurred for late payment to the Municipality vatable?

  Written by Evan   Posted 21 October 2015

I would like to know whether late payment of license disks for company cars and the related fines and penalties are vatable, that is, can you claim input tax on the penalties and fines incurred to the traffic department?

Can I claim tax if I bought clothes from overseas

  Written by Marc   Posted 21 October 2015

Can I claim the tax that I've being charged because of buying clothes from overseas? If I bought something online from overseas when I go and collect my parcel they are charging me tax from the post office.

Registering as a freelance tax payer

  Written by Marc   Posted 20 October 2015

Hi there, I have been working from home for a couple of months now for a company I used to work in-house full time for. Better explained - I now work on a freelance basis for the same company but I get a weekly salary, the same each week and its on-going. I had the understanding that my tax was being deducted off my salary, that the company was taking care of this. I recently realised that this is not the case and I should have registered as a freelance practitioner and taken care of my own tax....

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How do I know if sars still owes me money

  Written by Marc   Posted 20 October 2015

Hi, I am not working at the moment have been unemployed since 2014 March, would like to know if there is anything that I should submit since I was last employed at FNB in March 2014 when I received my pension, According to me the banks and SARS are usually accurate when it comes to deducting the tax from bank employees but I do not want any surprises. How can I find out whether SARS owes me or I owe them anything,the last letter I got said that I was being penelised,How can this be if im not eve...

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Does money for food etc from your parents need to be declared with SARS?

  Written by Marc   Posted 20 October 2015

If I earned money from one company from July 2014 to February 2015, and received money from my parents to buy food etc during university from March 2014 to June 2014, do I need to submit a tax return for the 2014/2015 financial year?

What is going on with my tax return

  Written by Marc   Posted 19 October 2015

I did my tax but since, I received nothing from SARS how can I found out what is going on.
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