Is the cost of a new roof maintenance or capital expenditure

  Written by Marc   Posted 25 February 2016

Can I claim the cost of a new roof and windows that I replaced on a house I rent out.

Tax for a contractor

  Written by Marc   Posted 25 February 2016

I'm on a contract for 6 months and I earn 12000. How much will be my take home amount? as I get paid different amounts monthly and its confusing

IRP6: Additional Medical Expense Tax Credit & Taxable Income vs Turnover

  Written by Marc   Posted 25 February 2016

I've got 2 questions for my IRP6 form for tax year ending Feb 2016:

I am: provisional tax payer; and an individual - no dependents. 1. Is my taxable income the same as my turnover if I don't have any other deductions?

2. Is the amount that I enter into the Additional Medical Expense Tax Credit field literally all the medical expenses that I incurred in the period, which were not covered by Medical Aid?

No tax returns since 2010?

  Written by Marc   Posted 25 February 2016

My husband still owes his 2010 tax return to SARS. His employer never furnished him with a IRP5 and also never paid over his tax for that year or supply him with a payslip. Up to today he did not supply him with an IRP5 and I am worrying myself sick about the penalties and stuff. What must he do? Will they keep my husband accountable for that money? Thx this is a great website. Wish I knew about it earlier! Will definitely do my tax return via you.

Is income earned by my minor child from a company taxed in my hands?

  Written by Marc   Posted 25 February 2016

If my children received income from a marketing campaign they were involved in, is the income taxed in my hands? They did photo shoots for company and the company paid them.

The dates to submit irp5 forms for 2015 if not submited last year

  Written by Marc   Posted 25 February 2016

I didn't submit my IRP5 form last year 2015. I need to know when can I submit it this year. Like when is the closing date. And if I don't submit IRP5 forms how will this affect me.

Loans on my tax return?

  Written by Marc   Posted 24 February 2016

Do I need to reflect loans and repayments when capture income and expenses?

Tax on retrenchment and pension

  Written by Nicci   Posted 24 February 2016

I have worked for a company for 10 years. I have never been retrenched before and my company pension fund is worth around R780K. I have been retrenched due to my division being closed. I have been offered a retrenchment package of R180K cash. How will this R180K be taxed and how will my pension be taxed if I withdraw it or if I move it?

How much of a capital gain should I be including for provisional tax?

  Written by Marc   Posted 24 February 2016

IRP6 2016-02: My income is trading income reflected through an IRP5. This year there is also a capital gain. On e-filing form I have to add the capital gain and fill in the total under "estimated taxable income". But then the full amount is taxed at my marginal income tax rate. How much of a capital gain should I be including in "estimated taxable income" for provisional tax?

Provisional tax vs Income Tax (Closed corp)

  Written by Marc   Posted 24 February 2016

For a closed corporation on SARS eFiling - a Provisional Tax tax return and a Income Tax tax return comes up for submission. However is this not the same thing? Its basically tax on your profits. But now if you submit both, you pay double tax on your profits? Maybe I am understanding it wrong... Both is for submission due now 29 Feb correct?

UIF Deduction

  Written by Marc   Posted 24 February 2016

Must UIF be deducted from an employee on maternity leave if the company will be paying 75% of her salary?

Can you do dispute on my behalf via eFiling?

  Written by Marc   Posted 24 February 2016

Hi Tim, I am an estate agent and SARS IT34 reflects I should pay them -R20k 2015 Taxyear.. I think I completed the forms incorrectly on e-filing. I now wish to request a dispute. I have all my receipts. Can you help me with it please? Do I need to buy the Ultra package? Please advise urgently as I know I need to get a refund. Regards Julie Bosch

Contribution to ex-wife maintenance for children tax deductible?

  Written by Marc   Posted 24 February 2016

Are contributions to non-working ex-wife's medical aid as part of child maintenance agreement deductible, she is the main member.

Company car versus personal car and travel allowance

  Written by Nicci   Posted 23 February 2016

A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work.
What is the most beneficial method in terms of tax:
to buy a car in his own name, or to buy one in the company name and use it for business and personal (will be small personal use)?

Tax payable on sale of shares

  Written by Nicci   Posted 23 February 2016

I am a pensioner 71 years of age. If I sell shares in a company to the value of R33,000.00 and my annual income is R120,000 what % tax would I have to pay on the R33,000?

Is there donation tax payable on a gift?

  Written by Nicci   Posted 23 February 2016

I am selling local property and want to send my two non resident daughters R100 000 each as a gift. Does donation tax come into the picture?

Tax on resignation from Provident Fund

  Written by Nicci   Posted 23 February 2016

What tax will be due on an amount of R138 500.00 when I resign from a Provident Fund?

Exempt amount of interest

  Written by Nicci   Posted 23 February 2016

What is the Interest exempt amount for year ended Feb 2016.

Taking medical aid tax credits into account in provisional tax calculation

  Written by Nicci   Posted 23 February 2016

Hi there, I need some help completing my second provisional tax return. My employer deducts my medical aid tax credits (for myself and a dependent) each month on my payslip. Therefore, on my payslip each month is my gross earnings less my deductions (of which the medical aid tax credit is subtracted from the monthly PAYE amount due). However, at the bottom of my payslip, where it shows total tax paid to date figures, the amount here is the PAYE amount, BEFORE deducting any medical aid tax credit. My question is now when I submit my provisional tax return, do I enter the medical aid tax credits in the section provided for?...

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Do you pay tax on a negative profit?

  Written by Nicci   Posted 23 February 2016

What percentage of your company profits do you pay to tax, if you didn't make any profit and ended in a negative, do you still pay tax?

Dividend Witholding Tax

  Written by Nicci   Posted 23 February 2016

When you have to pay Dividend Tax can the Company Director handle the DWT and pay the 15% Dividend Tax to SARS or must you use a Regulated Intermediary?

Can I claim VAT input even though I haven't charged VAT output?

  Written by Nicci   Posted 23 February 2016

My PTY(LTD) voluntarily registered for VAT, However I have not being charging vat on the supplies my company makes and have not issued valid tax invoices for the supplies made. Can I still claim the input VAT from expenses incurred even though I have not charged VAT on my taxable supplies?

Pension money deduction

  Written by Nicci   Posted 23 February 2016

Wat will be my tax deductions on my pension money estimated at R2 989 747,00

What type of tax for self-employed?

  Written by Nicci   Posted 23 February 2016

I am self employed by a british company that pays me directly into my bank account. What tax type do I fall into? I do not earn a large salary.

is a marriage by muslim rites included in the definition of a spouse regarding donations tax?

  Written by Nicci   Posted 23 February 2016

What should I select for marital status when filing tax return, religious marriage (married by muslim rites) usually muslim marriages are ANC however we have not yet registered our marriage?
Will my husband be expected to pay donations tax on cash he transferred to me for safe keeping? For tax purposes are we considered to fall within the definition of spouse and as such not be liable for donations tax?

Example: Husband transfer R500 000. 00 of his savings to wife married in accordance with muslim rites, wife invests the money with a Bank and earns interest on it...

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