Savings

  Written by Marc   Posted 9 October 2015

I have a savings account with R40,000 with interest of 1,991. 28 this financial year. Does this need to be declared and if so where does it go on the tax form.

Tax refund waiting for me?

  Written by Marc   Posted 9 October 2015

Hi I'm currently unemployed since 2010 & dont have any banking details or cash. If possible? TaxTim can u please check if there is a refund dew to me & than deduct whats due to u from there?

Do I declare money sent from Abroad?

  Written by Marc   Posted 9 October 2015

I have been Living and earning outside of SA for 2 years now, most of the money that I have earned is invested outside of SA. I have however set money back to SA to cover misc expenses related to the rentl of my property. Does the money sent back to SA need to be entered onto my tax return? If so, how?

MEDICAL TAX CREDIT REFLECTED ON IRP5/IT3(a)

  Written by Marc   Posted 9 October 2015

1. I am retired and a deduction for my Medical Aid Contribution is made from my monthly pension. My Tax Certificate displays a basic Tax Credit (R257 x 2 x 12) which does not include the extra Tax Credit for claims submitted to, but not paid by, my Medical Aid Fund. My neighbour, on the other hand, who also has a deduction for his Medical Aid Contribution from his monthly pension, received his Tax Certificate which reflects a Tax Credit taking into account a basic Tax Credit (R257 x 2 x 12) as well as his claims submitted but not paid by his Medical Aid Fund...

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Car Allowance Capped / eFiling adjustment considered.

  Written by Marc   Posted 9 October 2015

Dear TaxTim. I only recently realised that SARS have been capping my yearly travel allowance (code 3701) at R66,000 which is my monthly car allowance x 12. Thanks for your feedback on that. I do however qualify for an allowance of R100,000 per year based on value of the car and log book total vs. Business km's. When doing my onlie eFiling, the system did allow me to reduce 3601 Income and increase 3701 by the same amount that I decreased the income 3601. I am hoping that this will then prevent m...

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My tax number please for work?

  Written by Marc   Posted 9 October 2015

I'v got a new job,now they want me a tax number,I don't remember it.

UNDER 65 PAYE 2005 R4500 NET SALARY

  Written by Marc   Posted 8 October 2015

What was the paye amount for an individual under 65 years of age earning 4500 NET IN 2005??

Unemployed

  Written by Marc   Posted 8 October 2015

I was retrenched and I'm presently unemployed. I'm living on the interest from a lump sum investment which amounts to about R8000 per month. Do I need to pay tax?

SUBMITING A REVISED ASSESSMENT WHEN THE AUDIT HAS BEEN FINALISED AND THE REFUND PAID ALREADY

  Written by Marc   Posted 8 October 2015

i submitted my 2015 tax return, and was selected for audit. the audit has been finalised and the refund was paid. however now i just realised that i for got to declare some information on my tax return. is it possible for me to re-submit the tax return again.

Meaning for source code 4102 , a PAYE Credit of R13808,30 has been assessed against your.

  Written by Marc   Posted 8 October 2015

Meaning for source code 4102, a PAYE Credit of R13808,30 has been assessed against your ITR12 tax return. What is the meaning?

What are those supporting documents that I need to submit

  Written by Marc   Posted 8 October 2015

I have received an email from SARS saying my income tax has been identified for verification and I must submit my supporting documents on my SARS eFiling. What are those supporting documents that I need to submit, if I don't have invoices,medical certificate or travel book. Is it the IRP5 still a supporting document?

Audit Review

  Written by Marc   Posted 8 October 2015

Hi Tim

I was retrenched and received my provident payment in March or April 2014 so now for 2015 submission I submitted the provident IRP5 and I also started with a new company in October 2014. The provident fund irp no tax was deducted but for my new employer there was but is was for total income less than R75000 for the 4. 5 months. I filed my tax return and now I received a letter for Audit review. From the looks of the calculation it seems SARS needs to refund me, how long does th...

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Gift of GBP

  Written by Marc   Posted 8 October 2015

Please would you let me know what the tax implications are for receiving a gift of GBP4000 into my RSA bank account. Thanks very much.

Did the employer calculated my PAYE correctly?

  Written by Marc   Posted 8 October 2015

Please assist with these calculations:

I earn 31650 pm = 379800 pa (no other benefits). On resignation an amount of R14240. 31 was due to me for leave days. A further bonus amount of R28 485 was to be paid plus R 1360 for travel claim. My payslip reflects a PAYE amount of R20691. 76. Is this correct? I think the employer got it wrong.

Is deducting PAYE and UIF from non S.A Citizens with no work permits permissible ?

  Written by Marc   Posted 7 October 2015

Can PAYE and UIF be deducted from non South African citizens who do not have work permits?

Refund tax

  Written by Marc   Posted 7 October 2015

I recieved a sms on 22/09/2015 of a refund who can I go about

Calculation of PAYE

  Written by Marc   Posted 7 October 2015

Calculation of PAYE. Earnings include allowances(standby, acting, travel and cellphone). UIF, medical aid and pension fund are deducted.

Retirement annuity contributions - do I add two amounts next to 4006?

  Written by Evan   Posted 7 October 2015

I have received a tax certificate from Liberty regarding my retirement annuity. It states the total contributions I have made, SAID code: 4006. My employer also contributes to my retirement annuity and there is also contribution stated on my IRP5 with SAID code: 4006.

Do I add these two totals together or is the total contributions I made on the certificate from Liberty added separately?

Check if audited

  Written by Evan   Posted 7 October 2015

Will you check if I am being audited and if how much is due to me?

I lost my IRP5

  Written by Evan   Posted 7 October 2015

Can I do my tax return without my IRP5?

I am paying to much tax, what now?

  Written by Marc   Posted 7 October 2015

I did the tax calculator and my company is subtracting 5 times the amount of tax that I should pay from my salary each month. When I asked them About it they said they have a system that works it out and didn't want to help me. What should I do now?

What are the requirements to claim vehicle depreciation?

  Written by Marc   Posted 6 October 2015

What are the income requirements to claim vehicle depreciation?

If commission forms about 25% of my yearly income, and my vehicle is used extensively to travel between clients (core part of the job), can I claim depreciation of my vehicle against my income?

I don't receive any travel allowance or fuel etc. I keep a logbook and can prove travel % to work/personal. Thanks.

Can I submit receipts after SARS has already done my tax for 2015?

  Written by Marc   Posted 6 October 2015

I went to SARS and they did my 2015 tax. They said they owe me some money. But what I would like to know is can I submit my medical receipts and RA tax certificate still? I forgot to take it with me and submit them. Is it too late?

PAYE monthly deducted from a monthly salary of R20000

  Written by Marc   Posted 6 October 2015

How much PAYE monthly deducted from a monthly salary of R20000

When does one register for provisional tax, before you earn or after you earn money

  Written by Marc   Posted 6 October 2015

Provisional Tax
Do I earn say R8000 for the first 6 months first
Then register to pay provisional tax
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