Retirement Annuity Premiums
Posted 14 March 2017
How's Tax calculated on a monthly bonus?
Posted 28 February 2017
I'm entitled to a monthly bonus. Our salary is split into salary (75%) and monthly bonus (25%). So my salary advice states salary and monthly bonus. How is tax calculated on a monthly bonus? How does it affect the tax calculation on the additional yearly bonus?
How to enter a severance payment in my provisional tax return?
Posted 28 February 2017
I'm doing my provisional tax return and received a severance payments during the year as part of a voluntary retrenchment. My employer applied for a tax directive which was successful and I received the lump sum pay-out with the tax benefits associated on the sliding scale. How do I deal with this in my provisional tax return? If I enter the severance payment gross amount, the SARS eFiling system calculates taxes on it using the normal tax tables (it gets calculated at the highest marginal rate...
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Can my company add rental car fuel to my car allowance?
Posted 28 February 2017
If I have a car allowance and on occasion I am required to use a rental for business travel after flying to a far destination, can my company add this fuel cost to my car allowance and withhold taxes on fuel used in the rental vehicle
Will the reason given on a tax directive affect SARS's decision?
Posted 24 February 2017
Will the reason given on a tax directive affect SARS's decision; if the severance benefit is being paid out as a result of a voluntary settlement between employee and employer, is SARS less likely to grant the directive?
We earn little so should we be taxed?
Posted 23 February 2017
I work for a small company and all of us earn salaries ranging from R3 000 to R4 500 and only the owner earns R25 000. So now the company wants to register for PAYE and UIF. So after reading through most of your articles and many other ones online I discovered there is a minimum amount per year that you have to earn and none of us reach that amount except for the owner. So does this means that the company can register for all those but not deduct anything from the rest of us but himself?
How will tax work on my bank account with other peoples money in it?
Posted 21 February 2017
Me and five members of my family want to start investing. Before the profits will be paid out the company that does the investments does the tax part on it and then pay us the profits. What I want to know is, if they pay the family members profit into my bank account with my profit will there be any problems with tax on my side because all the money is going to my account. The company will send each of us an IRP5 at the end of the season so that each of us can fill in our tax return.
Getting paid in dollars
Posted 20 February 2017
Hi, I am working for an overseas startup. I get paid in dollars. For the last six months I have been getting $500 a month. Starting this month I will be getting incentives as well. It is below the salary for tax but I'm not sure how it works with an overseas company?
Is this allowed by SARS?
Posted 20 February 2017
Can I contribute 27.5 of my income to a pension even if my employer only allows me to contribute 10% through them to our work pension fund?
Tax on CCMA settlement
Posted 17 February 2017
I am about to receive a CCMA settlement and was told by my previously employer that I will be taxed on it, is this right as this will be my first income after 8 months of fighting for it?
Are foreign students required to pay tax on their earnings for part-time work?
Posted 17 February 2017
My son is a foreign student studying for his degree at a South African University. He has a valid Study visa and is permitted under this visa to work 20 hours per week. His employer wants to pay him a salary of R10,000 per month. Firstly does my son have to pay tax on this and if so, how does he register with SARS without a SA Identity document?
Do I need to file old returns to obtain refund, even if I fell below the tax filing threshold?
Posted 17 February 2017
SARS want to me file all my previous tax returns in order to receive my refund for this year. In 2011 I tutored at a university and earned below the tax filing threshold and therefore did not file my tax return. How do I file my tax return now for 2012 or how do I show SARS that I didn't need to?
I need copy of IRP5 from 2008 to 2009
Posted 16 February 2017
Hi I am in process of immigration to Australia and my case officer ask me for my IRP5 for a formal employer it was since 2008 and I am not sure that I got it or not is there any way I can get electronic copy
Paying double tax on pension
Posted 16 February 2017
I get paid a monthly pension from my late husband's employee benefits, on which PAYE is deducted. On the annual tax statement and the details that get sent directly to SARS, it will show the full gross pension for the year, less the PAYE paid. Why then, does the net pension amount (after PAYE) still get included in taxable income for the year? Surely I am then paying PAYE as well as another layer of income tax on the remainder, i. e. On the net income? My tax assessment shows the taxable pension...
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What deductions are allowable for a salaried employee who works from home?
Posted 15 February 2017
I am a monthly salaried employee and my employer deducts PAYE. However, my salary is based on an hourly rate with no fixed base, i. E. No work, no pay, and varies from month-to-month. I work 100% from home and am responsible for all work-related expenses. Can I claim a percentage of my rates and taxes, electricity and telephone?
Deregister foor provisional tax
Posted 14 February 2017
I am an estate agent and earn only commission income. I am registered for provisional tax, but my employer has now started to deduct PAYE from my commission. Can I now deregister for provisional tax?
Tax on internship stipend
Posted 14 February 2017
As an intern is my employer allowed to deduct tax from my stipend?
Lump sum on IRP6
Posted 14 February 2017
Am I supposed to include my pension lump sum on my IRP6?
Also, how should this income be reflected on the annual income tax return?
Why did they double tax me?
Posted 10 February 2017
I received an increase of 50% on my salary in January, but the tax on my salary seems to have more than doubled, can you tell me why this is?
Travel Claim not allowed by SARS
Posted 10 February 2017
Hi Tim, I received a travel allowance upfront however I do a lot of traveling between two offices and I claim back travel on a monthly basis capped at 1850kms though I travel in excess of 2000kms per month. I've filed my tax return showing both business travel and personal but now SARS says I owe them about R27000. How is that possible when I didn't claim for the excess travel I did, just the capped 1850km. I can follow through their calculation but do not understand why they didn't include busi...
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Tax on pension (lump sum) payout
Posted 9 February 2017
I want to resign from my current employer and need to know how much will I be taxed when I get my pension of R61000?
My salary differs every month
Posted 7 February 2017
I work on a contract basis and even though I work the same amount of days my income always fluctuate.
My employer says it is because my hours are different each month, could this be the reason?
Tax on commission income
Posted 7 February 2017
Am I supposed to pay tax on my commission if I don't earn a straight salary too?
Depreciation on a phone
Posted 6 February 2017
I use my phone for work purposes and have a letter from my employer confirming this. Can I claim depreciation on it even if I've had it for 2 years already?
Legislation affecting foreign pensions
Posted 6 February 2017
Good Day, this is my 2nd question in as many months. Hope I am not overdoing it but this item will be of interest to many and any suggestions you may have will be greatly appreciated by myself. I am 80 years of age and have been retired for 20 years. A significant portion of my pension has been tax free for 20 years as the result of it having been earned whilst I worked outside of RSA. Yesterday (2. 2. 17) my pension administrators advised me that as from 1. 3. 17 the tax free portion will be ta...
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