Vehicle logbook trips to and from work / home

  Written by Evan   Posted 3 November 2015

My biggest problem is with a vehicle log book. Does the Vehicle App explain to you what mileage you are allowed to calculate: e.g. if you work from home and not an office, do you calculate your business trips from home to client?

Tax implications on dread disease payout

  Written by Evan   Posted 3 November 2015

With a Dread disease policy payout, will I have to pay tax on the amount paid out to me?

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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Which TAX RETURN must I fill out, when doing contract work.

  Written by Marc   Posted 3 November 2015

When a taxpayer is doing contract work for a company, what tax return must one fill out?

Havent submitted tax returns

  Written by Marc   Posted 3 November 2015

I havent submitted a tax return for last 3 years. I have my IRP5's. Help what must I do and are there penalties. I also have just opened a sole prop and need to apply for a tax clearance.

SARS wants me to submut income tax documents from 1991 to 2003. I dont have these. What can I do?

  Written by Marc   Posted 2 November 2015

I filed my tax return on Friday 30 October 2015 and SARS said they are now using a new system and said the they need me to file tax returns from 1991-2003. I can not get these IRP's or medical certificates. What must I do? When I went to file my tax return in 2013 they asked me to get the documents from 2006-2013 and file for each year. I got that documents and filed and paid a R500. 00 penalty. They did not ask for anything else and said I was up to date. This year they ask for 1991-2003. Pleas...

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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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How to obtain additional information regarding the the reassessment of your ITA34

  Written by Marc   Posted 2 November 2015

After I have submitted my tax return, I received a letter to submit all my documentation. I've done this and now have received a revised ITA34, where the Interest income is double than what I have received and recorded on my tax return. How do I contact SARS to provide me with further information regarding the assessment, and what steps do I take now if their assessment regarding interest income is incorrect?

Medical scheme contributions paid by my deceased husband's employer

  Written by Evan   Posted 1 November 2015

My deceased husband's employer still pays my full medical fund contribution. They do not issue an IRP5. My Medical Fund declares my contribution as R34460. My income (as pensioner from a different company) does not declare this medical contributions. How or where do I declare this contribution (income?) from my late husband's company?

Medical aid - paid by employer and self

  Written by Evan   Posted 1 November 2015

My employer paid my medical aid until August 2014 and I paid thereafter. How do I declare this on my tax return?

Foreign shares tax liability

  Written by Evan   Posted 31 October 2015

I have shares in a foreign stock exchange. I've had the shares for more than 5 years. If I sell these shares what is my tax liability? The shares are worth R400000.

Tax on Foreign income - away for 30 months?

  Written by Evan   Posted 31 October 2015

Im going to work in UAE, Abu Dhabi for 30 months. Do I need to pay tax on or even declare my foreign income with SARS?

Must wife's bank account interest be added to husband's interest?

  Written by Evan   Posted 31 October 2015

I am not employed. I have a savings account in which we save. Do we add the interest earned from this account to my husband's interest from his bank accounts? We are married in community of property.

Unfiled taxes

  Written by Marc   Posted 30 October 2015

I have not filed a tax return for three years even thou I have been employed and did previous tax returns however I do earn below the 350 000 threshold. What do I do to be compliant and what kind of penalties would I expect?

Tax calculation on a lumpsum?

  Written by Marc   Posted 30 October 2015

GEPF LUMP SUM TAX ON R 2396808 52 YEARS Retire on 31/03/2016

Tax on retirement lump sum withdrawal

  Written by Marc   Posted 30 October 2015

I received a retirement lump sum benefit (withdrawal) in 2015 tax year of R 630 000. I have been taxed R 193 902. 08 which I do not think is correct. Please can you advise what tax should be paid?

No access to forgot passwords

  Written by Evan   Posted 29 October 2015

I registered to TaxTim, but I am struggling to get logged in. I don't know what to do. Can you help me?

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?

Not sure what a tax number begins with?

  Written by Marc   Posted 29 October 2015

How does a TaX number look like

Does a trust have to submit income tax returns when it is dormant?

  Written by Evan   Posted 29 October 2015

Does a trust have to submit income tax returns when it is dormant?

When does a trust need to register for income tax?

  Written by Evan   Posted 29 October 2015

When does a trust need to register for income tax?

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.

How to register tax clearance certificate?

  Written by Evan   Posted 28 October 2015

How can I do companies tax clearance certificate?

Do I need to declare support money from parents on my tax return?

  Written by Evan   Posted 28 October 2015

Do I have to declare the support money that I received from my parents before I registered for tax and started working?

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?
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