Is it an expense of must it be depreciated?

  Written by Marc   Posted 3 February 2016

I am quite confused and google doesn't help. I am a freelancer and I work from home. I have a dedicated office therefore I deduct my business expenses. I recently had to upgrade my computer network - my question is, is this an expense i. E. Do I deduct the amount I spent buying the computer, or do I have to do the depreciation calculation? Is there some monetary limit to make it easier to figure out when it is an expense and when the depreciation calculation must be applied?

All pay user have a tax number

  Written by Marc   Posted 3 February 2016

Can all pay people have a taxnumber

What return must I submit?

  Written by Marc   Posted 3 February 2016

I owned a business for portion of the year and made drawings from the business. Then I leased out my business for the remainder of the year and received rental. Do I fill out an ITR12 tax return. If not, what form do I complete?

Does tax threshold still apply to me at age 78. I understood that I shouldnt pay tax at all

  Written by Marc   Posted 3 February 2016

Thanks for helping with my tax return! I expected to get a bigger refund. I am 78 and understood that any tax paid would be refunded in full, but am told there is still a tax threshold?

How do I register tax for a sole trader business as well as a salary?

  Written by Marc   Posted 3 February 2016

I earn a salary of R10 000. 00, My employer submits the paye. I have started a business sole trader in August 2015. Can I register for the business on my current tax number and what do I need to fill in.

What tax is payable a lump sum withdrawl on pesreve policy

  Written by Marc   Posted 2 February 2016

I have two preserve policies with liberty which have matured. I want to take the total out as a lump sum. What tax will I pay the values are R 452027 650610 ===R 1 102637

Clarity around donation tax on the side of the donee not donor.

  Written by Marc   Posted 2 February 2016

I registered and wanted to buy one of your packages in order to ask more questions but not sure what to buy. Don't need you to do anything yet because I have a tax practitioner but have certain concerns about how our tax is done. I need to decide what to do. My husband and I are in Christian ministry and mostly receive donations from people who are friends that have nothing to do with our ministry and do not receive ministry from us that could be seen as service rendered. They can and some have also stopped supporting at any time without notice...

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Get tax up to date with SARS?

  Written by Marc   Posted 2 February 2016

I have not submitted my tax for one period and the next to come. I was fully employed and now freelance. I'd like to get my tax up to date the most affordable way. My partner moved back to SA over 10-15 years ago and has not worked all of that time - some of it only - and not yet done any tax returns. We'd like to sort this too.

Does receiving a car allowance when l have a car bought cash have impacts on my tax?

  Written by Evan   Posted 2 February 2016

I bought a car cash before getting my current job. I receive a car allowance at my current job and am not willing to change my car anytime soon. Is that an issue with SARS? Is that going to affect my tax, if so how?

Tax on Life Insurance savings benefit pay out

  Written by Marc   Posted 2 February 2016

I have a life insurance policy which I need to cancel. The policy includes a savings benefit which will be paid out to me upon cancellation. Will I pay tax on this amount and if so at what rate?

So I can find my existing tax number via contact?

  Written by Marc   Posted 2 February 2016

So I can find My existing tax number via contact?

Where do I find the SARS registration form?

  Written by Marc   Posted 2 February 2016

I registered for SARS SARS eFiling and they sent me an email saying
"Please fax the SARS eFiling Registration form, together with a copy of your ID"
Which registration form is this? I can't seem to find anything on their site

Any help would be greatly appreciated

Does SARS tax international lotteries prize money?

  Written by Marc   Posted 2 February 2016

Does SARS tax international lottery prize winning money when it comes to South Africa?if yes what is the percentage that SARS tax and what category is this tax?

Can you claim back school stationary, private school fees and gap insurance as a private individual

  Written by Marc   Posted 1 February 2016

when submitting your tax return, can you as a private individual make any claims on school stationary (books, pens etc), private school fees and / or gap insurance for medical aids?

I started freelancing 3 motnhs ago, do I need to do my taxes this month?

  Written by Marc   Posted 1 February 2016

I started freelancing 01 November 2015
I was still working until 31 October at a company that was paying my tax for me. Do I need to do my provisional taxes this month (February) or should I wait until August?

Fringe benefit tax on fuel card

  Written by Nicci   Posted 1 February 2016

We receive a fuel benefit which is indicated as an income ( this in my mind will put me into the next bracket ). I am taxed on the higher income, then the very same amount that has been used for fuel is shown as a deduction. I don't understand this can you please explain. I don't see the benefit of a fuel card.

PAYE registration for an employee

  Written by Marc   Posted 1 February 2016

I own a micro business (a company) that's registered for turnover tax. Up until this point I have had no employees so I didn't register for PAYE, UIF, SDL, ETI, etc. Recently I hired my first employee. This employee earns R3500 p. M. So she won't be paying any income tax. Do I need to register her for PAYE, UIF, SDL and ETI even if she falls below the tax threshold? She is 21 years old and meets the requirements for ETI. If I need to register her, how do I do it? Can I benefit from the ETI?

Salary Gross Up Calculations

  Written by Marc   Posted 1 February 2016

I need to Gross up a salary and my payroll system does not have that function. Is there an easy enough method to work it out?

As a sole proprietor making less than R350k/year, do I pay income tax?

  Written by Marc   Posted 1 February 2016

Thank you for taking my question. I am a sole proprietor that receives money from a single company for odd jobs around the office. I am not on contract with this company and receive a fixed R15k a month from them into my sole proprietor bank account. I then pay money from the sole proprietor account into my personal account amounting to around R12k-R13k/month. In total, I make less than R350k per annum, will I be liable to pay income tax?

Tax - Abu Dhabi and South Africa

  Written by Marc   Posted 1 February 2016

I am looking at going to teach in Abu Dhabi but I really don't understand how the taxes work while I am overseas. I don't know when if ever I will tax return other than for a holiday. Please assist me in this as I don't know what to do with regard to planning. Thank you

Penalty for late payment of vat

  Written by Marc   Posted 1 February 2016

What is the penalty for late payment of vat?

Rental income & expenses, can I claim on regularly inspecting my property?

  Written by Marc   Posted 1 February 2016

I will be renting out my primary residence in Cape Town for a few years while I work on the Wild Coast rent-free. Can I claim a quarterly site/property visit/inspection as an expense for tax purposes?

Donations Tax on house sale to sister.

  Written by Nicci   Posted 31 January 2016

I plan on selling a fixed property worth R450 000 for R225 000. How much will the donations tax be?

IRP5 source codes - what do they mean?

  Written by Nicci   Posted 31 January 2016

3698-3699 gross remuneration. What does it means. Is their money I can claim?

What is the taxable age ?

  Written by Marc   Posted 31 January 2016

Can you get a tax number at the age of 17 years with a valid South African ID?
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