Please calculate my tax liability for 2016

  Written by Nicci   Posted 23 February 2016

I am 44 years old, unmarried and my taxable income for the 2016 year of assessment is R215,000.

An accountant submitted wrong information to SARS on my behalf

  Written by Nicci   Posted 23 February 2016

Hi, an accountant submitted my tax returns from 2009 to 2011, and when I found another job in 2012. I requested her to submit in 2012 and she refused. I submitted it by myself with help from SARS consultant. I received audit in 2013, and they requested additional information from 2009 to 2011, and when I asked my accountant, she became defensive and tell me she deleted my documents. SARS old me to pay back around 75000, and we agreed on compromised. I payed 35000, but now I want her to pay the 1...

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2014 year of assessment includes which months for a 30 June financial year end?

  Written by Nicci   Posted 23 February 2016

If my financial year end is June, which months fall under the 2014 year of assessment?

Lawn mower purchase

  Written by Marc   Posted 23 February 2016

We are a NPO and want to know if we can write off an lawn mower bought for cash second hand for R9000. 00

Donation tax between spouses

  Written by Marc   Posted 23 February 2016

I receive a government pension, interest from investment and income from consultation work. My total income put me in the maximum bracket of the tax tables. My wife receive rental income of less than R10000 a month and pays very little income tax. I am 64 and my wife 60. May I donate an amount of my investment money to my wife (which she will invest). What is the maximum amount that I may donate to her, do I pay tax on the donation and must I declare the donation to SARS? (I struggle with the in...

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Wrong tax reference number on my IRP5

  Written by Nicci   Posted 23 February 2016

When I was preparing to submit my tax return I realized my tax reference number on my IRP5 was incorrect and its my first time submitting a Tax tax return, the IRP5 is from a previous employer and they are refusing to change the tax number on my IRP5 and SARS is charging me penalties for non submission.

Is medical aid contributions paid in full by employees tax refundable

  Written by Marc   Posted 23 February 2016

I was the principle member of my Bonitas medical aid and was paying R2,076 of the total premium of R5,788. My company paid the difference. Now I resigned and my husband applied to be the principle member through his company but they deducted the full premium. Will he be able to get some of these premiums back when he fills in his tax return at the end of the tax year.

Donations tax to my sister

  Written by Marc   Posted 23 February 2016

Hi Tim I recently bought my sister a car to the value of R150k, do I pay 20% donation tax on the full amount?

Tax Reference Number from overseas.

  Written by Marc   Posted 23 February 2016

Hi there,
My name is Daryl Fortuin and I'm living in New Zealand for the last 11years.. I've applied for my pension fund in South Africa through The Building Industry Bargaining Council and have been in contact with them. They sent me all the required documentation to apply, but they are looking for a tax reference number, can please assist me.

One month employee

  Written by Nicci   Posted 23 February 2016

Hi,

Do I need a IRP5 or do the tax return if employed for a month and on probation?

Am I a provisional tax payer if I am fully employed by a foreign Co but permanently reside in SA?

  Written by Nicci   Posted 22 February 2016

I have taken the test to see if I need to be a provisional taxpayer and it states that I should not. However, I am employed by a London-based organisation and am permanently resident in SA. I get a payslip every month and am on a permanent contract. I dont pay tax in the UK and SARS advised that I should do so as a provisional tax payer. Is this correct?

How soon can you submit my returns after I upload it on Taxtim?

  Written by Nicci   Posted 22 February 2016

A few minutes ago I just submitted my 2013-2014 tax returns on your system. This is already overdue and I am facing penalties. How soon can you submit and what other information do you need me to provide you with?

Capital Gains Tax on second hand personal items

  Written by Nicci   Posted 22 February 2016

Is selling your unwanted goods taxable and how do you calculate tax?

Claiming travel expenses on a fixed cost basis without an travel allowance

  Written by Marc   Posted 22 February 2016

I am self employed and earn commissions and fees. Can I claim a travel expenses on a fixed cost basis even if I don't get an travel allowance?

Source Code NPC

  Written by Marc   Posted 22 February 2016

What is a Source code for a sport PBO NPC providing PBA Public Benefit Activities (PBA)?

Do I need a tax reference number?

  Written by Nicci   Posted 22 February 2016

Do you need a tax number if you dont need to file a tax return, as per SARS tax threshold

Tax on lump sum

  Written by Nicci   Posted 22 February 2016

I have resigned from a government institution and my pension contributions were R840 000 at the time of resignaion. How much will I be taxed on my lump sum?

If I start a small psychology private practice after hours will I need to register for tax?

  Written by Marc   Posted 22 February 2016

Hi there, I'm starting a psychology private practice to build experience. I am already employed as a psychologist by a company but I want to add to my experience. Would I need to register for additional tax if I only plan to a couple of patients?

Micro Business Financial year end

  Written by Marc   Posted 22 February 2016

Please confirm that a micro business registered for turnover tax must have a financial year end on 28/29 Feb.

Provisional tax for the year

  Written by Marc   Posted 22 February 2016

I didn't submit a provisional tax return in Aug 2015 because I thought I would be below the threshold but I am actually above the threshold for the 2016 tax year. Should I now submit one at 29 feb 2016 and are these numbers based on actual income and expenses or an estimate for the 2016 tax year

Can I claim back tax on a retention bonus?

  Written by Marc   Posted 22 February 2016

I was paid a retention bonus and I'm leaving the employer before the retention period. This means I now need to pay back the bonus amount. The company is deducting the bonus from my salary and leave days payout. Can I claim back the tax for the retention bonus? How do I do this?

Declaration of interest earned on Fixed Deposit investments for tax purposes

  Written by Nicci   Posted 22 February 2016

Good Day, my question relates to the declaration of interest accrued (but not necessarily paid) on Fixed Deposit investments for income tax purposes. I am a provisional tax payer and prefer to pay the tax in the tax year in which the interest is earned. For example, if I start a 24 month fixed deposit on 1st January 2016, maturing 31st December 2017, interest (simple) payable at maturity then is it permissible to declare the interest as follows assuming for simplicity that interest accrues at R100. 00 per day:...

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How can I get an ITA34 as soon as possible?

  Written by Nicci   Posted 22 February 2016

Hi Tim. Im trying to buy a property by taking out a mortgage bond. The agent has told me that they need an ITA34 from SARS so the process can continue. I have no idea what this is as my employer is responsible for my tax issues. I have never done a tax return before neither do I know if my employer has been paying for my PAYE. Please help.

Tax on Foreign Pension

  Written by Nicci   Posted 22 February 2016

Hello Tim, I am working outside of South Africa and for a US based company. I am more than half the year outside SA and one stint is more tham 60 Days. I have money in france which was part of a pension/savings plan from my previous employer. I paid 6 percent and they paid 6 percent each month. I want to bring this money back into SA, what do I have to declare? As all of this money were part of my salary that was invested while working abroad. All of it was invested in stocks.

Is my previous company suppose to apply for a tax directive on retrenchment?

  Written by Nicci   Posted 19 February 2016

I was retrenched last year July (2015) Once I had received my notice and my retrenchment package I noticed that they had taxed me on my retrenchment package. I asked the Payroll/HR department if they had applied for a tax directive to which they replied that it was not necessary. I told them that as far as my understanding went it was necessary to determine how much tax I should pay if any.
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