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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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?
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