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Independent Contractor Posts in Tax Q&A

Independent Contractor Related Posts - Page 7



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Do I need to keep a logbook?

Posted 31 March 2016

My monthly salary is split up into salary and travel allowance. Therefore my PAYE is calculated accordingly. The company pays for all my petrol, whether business or private. Do I still keep a logbook and can I still submit a claim?

Why aren't I getting tax rebates on all my work expenses?

Posted 31 March 2016

I contract for a UK based company and and paid in Rands each month - a salary, and all my expenses. Currently I pay a tax person in SA to do my tax (I am paid in full and then it's my responsibility to sort my tax out), however I haven't received any rebates from SARS for 3 years despite all my expenses, including travel, office rental, parking (all business related). Wondering if you can help? Would TaxTim be able to deal with my provisional tax?

Tax Directive CCMA settlement

Posted 31 March 2016

Hi there, I recently won a case of unfair dismissal and the commissioner stated I would be taxed at my regular income rate. I have been taxed at 41%! Is this normal?
Second question - I need someone to do my tax. And it's in a mess. Do you do this?

Business mileage when working from home

Posted 31 March 2016

I am employed as a service engineer, receive a travel allowance and own my own vehicle. Our company is embarking on a work from home initiative where we will no longer have to come to the company offices every day before going out to see clients and repair equipment. In this new scenario where my administrative work would take place at home and I drive directly to my first client, then to the next etc before eturning home, what would be counted as business mileage and what as private?

How best to "structure" freelance income?

Posted 30 March 2016

I work full time, earning a salary and paying PAYE tax. Through the year I have some projects that enable me to generate some extra income. However, if I just do this as an individual, I incur additional income tax at my marginal rate. Is there a way to structure "freelance" work and projects (in something like a company?) so that I can pay less income tax whilst still abiding the law?

Do I qualify for Turnover Tax?

Posted 30 March 2016

I work as a sole proprietor in the travel industry where I earn commission. I work from home and have to look for my own business but I work through a travel agent who collects the money on my behalf and they pay over my commission monthly. Can I register for Turnover Tax? My income is below R1m per year but I am worried that I may be classified as a personal service provider as more than 80% of my income comes from one source namely the travel agent and not the individual clients.

Independent consultant and expense claims

Posted 22 March 2016

I am an independent contractor and would like to find out how to calculate my salary due to me taking expense claims into account. Total salary = hours worked x Hourly rate
Expense claims = cell phone, internet and travel claims

To calculate tax amount you take your total salary less expense claims. Then when calculating amount payable, do you

A: (Total salary amount less expense claims) less taxable amount plus expense claims = amount due to you

OR
...

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Taxation on foreign sourced pension

Posted 21 March 2016

My wife and I are Irish and UK citizens respectively, currently living in the UK and are interested in the feasibility of retiring to South Africa. Our method of retirement would be either on a temporary retirement visa or as a person of independent financial means. I only mention this in case it impacts on my question. My particular interest is understanding how my UK pension income would be taxed in SA. My pension would be derived from a number of sources
1. UK State pension
2. Company pension. All pension is derived from activities not associated with South Africa...

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Should there be a PAYE deduction from my sole proprietor invoice?

Posted 21 March 2016

I operate a sole proprietor providing services to various companies on an "in need" basis on short and medium tem basis. I operate at my client place of business however the latest client has started deducting PAYE from my invoice at a rate of 33. 3% although I am not on a fixed contract and will not derive more than 80% of my annual income from them. Are they entitled to do this and how do I reconcile these deductions as a provisional tax payer?

SARS, bitcoin wallets and disbursement of BTC funds

Posted 21 March 2016

However, there are a number of issues that I cannot get to grips with regarding the storage of BTC in a wallet and the further use of BTC outside the fiat system:

1) If I moved my BTC to a wallet provider outside of SA (blockchain, based in Luxembourg but servicing globally) does SARS see this as an offshore transaction? as:
a) The wallet provider is not a registered global institution as such. b) No interest is accumulated to this wallet / amount, so no income is generated.
...

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What to do if SARS penalises me?

Posted 17 March 2016

I was working freelance for 2 companies. My salary was plus minus R15,000 a year. SARS penalised me because I don't fill in forms. They say I owe R10,500. I don't have that money - what can I do?

Business mileage for off site visits

Posted 17 March 2016

Can I claim business mileage from home to another site (belonging to the company) which is not my normal place of work?

What are business related expenses if you are a bookkeeper working from home?

Posted 17 March 2016

What are business related expenses if you are a bookkeeper working for several clients from home?

Employing a relative

Posted 14 March 2016

I pay provisional tax and have 2 contractors to whom I pay FEES (commission) on sales leads that they generate for me. My question is: I wish to use the services of my daughter-in-law (same surname as mine) in a similar capacity so will SARS see this as shifting my tax burden to avoid a higher bracket or will I be allowed to book this family member as a legitimate earner in her own right?
I would maintain a payments register and her fees would be paid over periodically to her banking accou...

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Travel allowance exceeding 8000km

Posted 14 March 2016

How is the travel allowance taxed if you do not receive a car allowance, use personal vehicle and exceed 8000km for business travel? Company pays the standard rate per km, and no other allowance is received in respect of travel.

New tax law on pension funds

Posted 11 March 2016

How will I be taxed according to the new pension fund law? Salary R27,000 House subsidy R700 travel allowance R10,735 Alexander Forbes Provident Fund R2,077 Company contributes R5,004
New tax law 27. 5% pension rebate -Interpretation there of My contribution R2077 only or 2077 5004=R7081

How to calculate provident fund deductions for 2016/2017?

Posted 11 March 2016

Please can you show an example of how the employer and employee's provident fund will affect the monthly tax 2016/2017. I still do salaries manually.

Should I register as a provisional taxpayer for freelance work even if I have a contract position?

Posted 11 March 2016

I have a contract with an employer for a minimum of 40 hours per month from April 2016-September 2016. They should be paying tax for me on this. I will likely be doing some other freelance work during this time (and for the remainder of the tax year). Will I have to register as a provisional taxpayer for the freelance work? And as a provisional taxpayer, when do I need to register for the 2017 tax year, and will I only have to pay tax twice per tax year, or still a PAYE amount per month?

How much tax to pay from R120 000 investment?

Posted 11 March 2016

How much am I supposed to pay to tax man when I withdraw from an investment my mother left me

What does "outstanding tax directive" message mean?

Posted 9 March 2016

"Please note that your tax return cannot be processed immediately due to an outstanding Tax Directive. Therefore, manual intervention is required. SARS will advise you as soon as your tax return has been assessed" this is what my SARS eFiling tax summary has been saying from the 28/01/2016. What does this mean?

Can I use my personal car for work and ask for a travel allowance?

Posted 9 March 2016

Can you use your own car (double cab ) for your work ( not your business) and ask for a travel allowance?

Outstanding tax returns and arrears for commission earner

Posted 9 March 2016

I have outstanding tax returns for 2012/2014/2015 and the subsequent penalties outstanding PLUS an arrears amount of just short of R20 000. I am registered for e-filing but find expenses I can claim for and their relevant codes very confusing so have saved the tax returns without any expenses claimed. I am a commission only earner in property sales and have IRP5's for the relevant periods. I have not kept a log book for petrol and kms but have slips for petrol, car expenses, data costs, client ...

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Tax on commission paid to 3rd party

Posted 9 March 2016

We for example pay a 3rd party whom can either be a business or individual an incentive/commission to generate more business. So for example, if I go to a dealership and ask them that if they sell a car and they use our product with the car they sell, I will give them R200 per deal they do as an incentive/commission. So they are not employed by us. Do we need to tax them first? Or do they just need to send us an invoice or what is the correct process to follow? Thank you!

How should an online freelancer pay tax?

Posted 8 March 2016

Hi there, I need some advice. I currently work full-time, but will be going freelance from April. I have already started some freelance work on the side, and wanted to know how I should go about paying tax for this? Most of the Freelance work I am doing is on an online website (for countries all around the world) and I transfer the funds into my bank account each month. No tax is taken off of this by the website, so I wanted to find out how I should go about paying tax, would it be a monthly or yearly thing etc? Should I just put money aside for it? I am clueless abut this sort of thing...

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Retrenchment tax & notice pay

Posted 8 March 2016

If your retrenchment package is notice pay that you are required to work out, is it eligible for a tax directive? or is this only applicable to severance of ex-gratia? Does it need to be paid in one lump sum?

Thanks
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TaxTim
can help
you file your
Tax return!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started