Income Protection Policy deduction

  Written by Nicci   Posted 4 April 2016

I have a 'Life cover' policy with Old Mutual that pays out the same value as the assurance value under 'Earning ability cover' section of the policy. Can I claim this as income protection from SARS? Old Mutual has not issued me with a tax certificate for this policy. Many thanks

Must I do a tax return after resigning?

  Written by Nicci   Posted 4 April 2016

I resigned last year - I want to know, must I do tax return this year?

Please clarify if I can get a tax directive and how they work

  Written by Nicci   Posted 4 April 2016

My estimated gross income R670 114. 00
My estimated expenditure R306 081. 00
Estimated taxable income R364 033. 00
Please show me the calculations to get a tax directive of 20%

PAYE on show on payslip, do I still register?

  Written by Nicci   Posted 4 April 2016

My Payslip shows PAYE with amount of tax deducted - do I still need to register to get a tax number.

Section 10(1)o - successive tax years and overlapping 12 month periods

  Written by Nicci   Posted 4 April 2016

Hi Tim,

When working successive years out of SA on a rotation basis (regular travel to and from SA) am I able to overlap my 12 month periods I use when calculating the days worked out of SA?

Section 10(1)o makes mention of the 183 and 60 day periods being part of any 12 month period which may start or end in the financial year in question. There is no mention of not using periods 'twice' ie If I do a 60 day period out of SA in June and July 2015 I could use this sti...

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Tax obligations for Bitcoin trading

  Written by Nicci   Posted 4 April 2016

I intend to purchase Bitcoin internationally and trade locally for ZAR. Do I need to factor in duties and VAT for the purchases, and if so how much will the duties be and I assume VAT will be 14%?

Is leave payout taxable?

  Written by Nicci   Posted 31 March 2016

This is regarding Leave Encashment. Is it taxable in South Africa? If yes, what is the percentage of tax deduction? If it is taxable, how can we get a refund?

What are wear and tear deductions on laptop and car?

  Written by Nicci   Posted 31 March 2016

I use my car to go to and from work. I bought the car in 2015. Can I use this as a deduction on my next tax return? I also use my personal Laptop for work, all day everyday, bought it about 2 years ago, can I also get a deduction on this?

What is tax threshold for 68 year old?

  Written by Nicci   Posted 31 March 2016

I am 68 years of age and live off dividends which are taxed before I receive the money. I have a cottage attached to my house (which I own) which I rent out on short term rentals through Airbnb etc. How much do I have to earn per annum before I would have to pay tax on this added income?

What expenses can be deducted when renting out my short term holiday cottage?

  Written by Nicci   Posted 31 March 2016

What expenses can be deducted from tax for renting out a cottage on my property as short term holiday rentals through Airbnb etc?

What is the tax for expats working in South Africa on visitor visa?

  Written by Nicci   Posted 31 March 2016

Is there any tax for expats working in South Africa on visitor visa for 90 days?

RA Claim for British citizen who is emigrating

  Written by Nicci   Posted 31 March 2016

When a British Citizen leaves South Africa for good after paying a RA for many years, what is the process of getting the money back and out the country.

What are long term loans?

  Written by Nicci   Posted 31 March 2016

What are long term loans?

How to obtain forgotten eFiling password?

  Written by Nicci   Posted 31 March 2016

My last tax return was filed in in 2009. My husband and I are divorced and since then need to get him off my SARS eFiling site but I have forgotten the email address as well as password.

Do I need to keep a logbook?

  Written by Nicci   Posted 31 March 2016

My monthly salary is split up into salary and travel allowance. Therefore my PAYE is calculated accordingly. The company pays for all my petrol, whether business or private. Do I still keep a logbook and can I still submit a claim?

Why aren't I getting tax rebates on all my work expenses?

  Written by Nicci   Posted 31 March 2016

I contract for a UK based company and and paid in Rands each month - a salary, and all my expenses. Currently I pay a tax person in SA to do my tax (I am paid in full and then it's my responsibility to sort my tax out), however I haven't received any rebates from SARS for 3 years despite all my expenses, including travel, office rental, parking (all business related). Wondering if you can help? Would TaxTim be able to deal with my provisional tax?

What is Employee's Tax (PAYE)?

  Written by Nicci   Posted 31 March 2016

What is PAYE?

Tax Directive CCMA settlement

  Written by Nicci   Posted 31 March 2016

Hi there, I recently won a case of unfair dismissal and the commissioner stated I would be taxed at my regular income rate. I have been taxed at 41%! Is this normal?
Second question - I need someone to do my tax. And it's in a mess. Do you do this?

Business mileage when working from home

  Written by Nicci   Posted 31 March 2016

I am employed as a service engineer, receive a travel allowance and own my own vehicle. Our company is embarking on a work from home initiative where we will no longer have to come to the company offices every day before going out to see clients and repair equipment. In this new scenario where my administrative work would take place at home and I drive directly to my first client, then to the next etc before eturning home, what would be counted as business mileage and what as private?

Do I need to file tax returns?

  Written by Nicci   Posted 31 March 2016

Hi Tim, I have been living permanently in the UK since July 2002 so have been a non-resident since then. I did work in SA for - 2 years prior to that and my employer paid tax. I have never filed a tax return in SA. Should I be doing anything?

Wear and Tear claim for home office equipment for sole proprietor

  Written by Nicci   Posted 31 March 2016

Can a sole proprietor claim wear and tear on home office furniture, equipment, computers? What is the allowance?

Please explain provisional tax

  Written by Nicci   Posted 31 March 2016

I know that I have to pay personal tax 3 times a year but I don't understand for when I am paying or being calculated for.

How best to "structure" freelance income?

  Written by Nicci   Posted 30 March 2016

I work full time, earning a salary and paying PAYE tax. Through the year I have some projects that enable me to generate some extra income. However, if I just do this as an individual, I incur additional income tax at my marginal rate. Is there a way to structure "freelance" work and projects (in something like a company?) so that I can pay less income tax whilst still abiding the law?

Do students in a learnership pay tax?

  Written by Nicci   Posted 30 March 2016

I'm in a learnership. I get paid R3,120 plus R1,500 accommodation. The total is R4,620 per month. Do I pay tax?

Do I qualify for Turnover Tax?

  Written by Nicci   Posted 30 March 2016

I work as a sole proprietor in the travel industry where I earn commission. I work from home and have to look for my own business but I work through a travel agent who collects the money on my behalf and they pay over my commission monthly. Can I register for Turnover Tax? My income is below R1m per year but I am worried that I may be classified as a personal service provider as more than 80% of my income comes from one source namely the travel agent and not the individual clients.
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