SARS issuing re assessment notice more than 5 years after the actual year of submission

  Written by Marc   Posted 5 October 2015

Received notification from SARS to supply proof of expenses claimed on personal tax return for the 2009 years, which was already assessed, re assessed by SARS in Nov 09 and April 2010. Outstanding fees were duly paid in Nov 09. All proof of expenses were duly supplied. IS SARS allowed to re assess again in Sept 2015?

SARS has also request the same for the 2010 year, 2010 was assessed and no proof of expenses were requested. A refund of -R6k was paid over by SARS to me. IS SARS allowe...

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Pension fund reflects payout but it was moved to a preservation fund.

  Written by Marc   Posted 5 October 2015

When I left my previous job I moved my pension fund to a preservation fund. I did not do my 2014 taxes and now when I go on SARS eFiling my IRP5 seems to reflect that I was paid out the money from my pension fund. I'm not sure what I'm supposed to do now. Would signing up for your service show me the steps I need to deal with this on my 2014 tax return?

Deduct home office expenses with split income streams and no IRP5

  Written by Marc   Posted 5 October 2015

I work from home - part time as a contractor for a US-based company, and part time for a South African private company of which I'm one of the shareholders / directors. I earn a regular monthly salary from the foreign corporation, but they don't issue an IRP5. I also bill my local company for my time, but irregularly, and often this income is put into a director's loan account rather than paid out in cash. The local company did not issue me an IRP5 for 2014. How do I declare my income in such a ...

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Should my IT77 Income Details section exclude business expenses as a I'm self employed?

  Written by Marc   Posted 5 October 2015

I am only just registering for a tax number and completing the IT77, but under the section Income Details, it states to declare taxable income. I'm self employed, so I'll be making manual contributions, which to my knowledge is minus expenses. So, my question is, in this section of the form, should I declare my gross income, or only my income after business expenses?

Its been more than 21 days since I've been on audit, how long does it take?

  Written by Marc   Posted 5 October 2015

I submitted my 2013 IRP5 this year. It was sent for audit and I was told it will take 21 days. I haven't heard from SARS again. No updates none whatsoever. How long does it take for audit and how does it work?

Non-resident tax implication on rental income?

  Written by Marc   Posted 5 October 2015

Myself and the wife ( non-residents / Irish citizens and tax payers) bought a property in South Africa in both our names. Does the R 65 000 tax exemption apply to each of us individually? The combined rental income is R 120 000 after expenses/deductions. We plan to invest the rental income in a flexible money market account at 5,75%. If the exemption applies to both i. O. W R 130 000 combined, do we have to register for tax?
Can flight tickets once in two years to oversee maintenance and i...

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Concerned about source codes that appear on IRP5 but not prompted by TaxTim

  Written by Evan   Posted 2 October 2015

Hi there

I had 3 IRP5s for the 2009 tax year. I have just completed your questionnaire but am concerned as I was not prompted to punch in some source codes that appear on two of these IRP5s. The outstanding codes are the following:

- 3695
- 3699
- 4103
- 4473
- 4474
- 4486
- 3808
- 3810
- 4001
- 4005
- 4472
- 4474
- 4486
- 4103

Many thanks in advance.

My income paye is 70753.00 I want knw hw much will I get?

  Written by Marc   Posted 1 October 2015

I have worked for 8years... We were told to resign so that dey cud register us again.. My total income paye is 70753. 00, SO I WANTED TO KNOW HOW MUCH WILL I GET PLUS HOW LONG DOES IT TAKE?

What value to use in wear and tear calculation - vehicle

  Written by Marc   Posted 1 October 2015

What to include in the price when calculating wear and tear on a company vehicle? Service plan, window break-in protection, VAT, Finance initiation charge, interest?

Do I have to pay tax if I earn R6000 basic commission?

  Written by Evan   Posted 30 September 2015

Hi, I would like to know how do I get taxed if I get paid a basic salary and commission? My basic is R6000 and get commission of 10% on each services after I have made over R10 000. Please help!

63 old, interest income R13500/mon and will contribute R2640/m towards medical.Tax payable?

  Written by Marc   Posted 30 September 2015

Hi,
I'm 63 and retirinmg with an interest based income of R13500. 00 /month. I'm contributing R2640 towards medical aid. How much SARS tax will I be liable for. Thank you

I would like you to explain what the meaning is

  Written by Marc   Posted 30 September 2015

Good morning I got this sms from sars




tax period 2014 due to you -2124. 12

tax period 2010 due to you -668. 82

tax period 2011 due to you -2183. 27

tax period 2015 due to you -2300. 06

tax period 2013 due to you 2300. 00

payment due the 1st October and 31st October

what does this mean

Tax Return for contract work?

  Written by Marc   Posted 30 September 2015

I worked for a contract of 3 months was earning R20 000 per month TAX was deducted from my salary, is that possible? I wanna know if I can go to SARS & claim my money back. Thank You!

Is professional training and development tax deductable?

  Written by Marc   Posted 30 September 2015

Can professional training costs be deducted (continued professional development) and under what section?

As a sub-consultant should the company I do work for deduct tax?

  Written by Evan   Posted 30 September 2015

What is the difference between a sole proprietor and sub-consultant. I am a sub-consultant and work on an hourly rate. My income is not the same every month. I use the companies' offices from time to time. I have been a sub-consultant since August 2015. The company deducts tax from my monthly income and will provide me with an IRP5. My question is should they deduct tax?

Can I claim travel expenses without having a travel allowance?

  Written by Evan   Posted 30 September 2015

Can I submit a travel log book with my tax return if I do not have a travel allowance and if my commission is less than 50% of my monthly income?

Client expenses for food as commission earner

  Written by Evan   Posted 30 September 2015

As a commission earner, am I allowed to claim back on client expenses specifically food and coffee. I have kept all receipts where I have taken a client for coffee or lunch. How will SARS judge these?

Income tax on foreign income from UK

  Written by Evan   Posted 29 September 2015

Hi Tim. I work in South Africa but for a UK company. They don't have a company registered here, just a warehouse that I work from. My salary gets paid in US dollars from the UK company so I don't get an IRP5 or PAYE etc deducted.

How do I go about sorting taxes? Do I submit a personal income tax return each year declaring the money I receive and pay the relevant tax on that?

I got my IT statement and it says electronic refund. Should I expect the refund tomorrow?

  Written by Evan   Posted 29 September 2015

Hi Tim

I got my IT statement and it says electronic refund on 30/09/2015 should I expect the refund tomorrow?

Car Deductions on Commission

  Written by Marc   Posted 29 September 2015

Hi Tim, I am a Commission earner and I claim back on my vehicle usage on depreciation and logbook. When I claim back on my car usage, I keep a logbook as well. But my question is, can I claim back on a paid up vehicle? or do I have to still be paying monthly towards finance. Does the finance amount help with increase my tax return from SARS. Eg if im paying R2500 or R2000. Which will yield a higher tax return?

Depreciation for Commission Earner

  Written by Marc   Posted 29 September 2015

Hi TaxTim, I have a lot of questions lined up. I hope its ok. The first one. I am a commission earner and claim back usage of my vehicle for business use. 75%
when calculation deprection over the 5 year straight line method. When does this begin? when I took ownership of the vehicle? or when the vehicle was registered?
2. I bought a vehicle in 2011 and only starting working on commission in 2013. When does my depreciation stop on this vehicle? 2016? or 2018?

VAT on new vehicle for commission earner

  Written by Marc   Posted 29 September 2015

As a Commission earner and using my vehicle for business purposes. Can I claim the VAT back on purchasing a new vehicle?
also what can I claim on the interest portion?

Statement of Tax invoicing

  Written by Evan   Posted 28 September 2015

Hi, I submitted a tax return via SARS eFiling which tax returned an assessment that I owe SARS R2500. Puzzled by this I asked a friend and she advised that I had entered the number of dependents for Medical Aid incorrectly. I filed a correction and SARS now owes me R2700. The statement, however reflects an amount of R200 and reflects the incorrect R2500. Surely that shouldn't count or am I missing something?

I called SARS and was told they focus only on the original assessment. I am ...

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Calculation regarding lump sun withdrawal benefit?

  Written by Evan   Posted 28 September 2015

How does the calculation work regarding lump sum withdrawal benefit (3920) from Sanlam Life Insurance Ltd and is the any deduction on that amount?

NO refund yet

  Written by Evan   Posted 28 September 2015

Good Day

I recently submitted my tax return and have a refund due to me. I emailed SARS and asked how come I have received my refund and they say that I have not submitted my 2011 tax return. I only worked for 4 months in that tax year and earned way below the threshold. Also in previous years they have refunded me without asking me to submit the 2011 tax return. What I would like to know and am afraid of is, if I submit the 2011 tax return now will I not incur penalties and interest?
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