How will I be taxed as a freelancer on retainer?

  Written by Marc   Posted 3 November 2014

Hi there!

I am currently full-time employed as an editor, but would like to go freelance next year. I am busy putting a proposal together to encourage my current employer to keep me on retainer for a portion of my current duties, for a portion of my current salary from January 2015, so that I can at least be guaranteed a basic salary for the first year or so of being a freelancer while building up a client base.

As far as tax goes, my understanding was that the burden was on freelancers to submit quarterly or annual tax returns, and that employers using freelancers were not necessarily obligated to deduct tax on their fees...

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Do I need to pay tax for a 6 month contract?

  Written by Marc   Posted 3 November 2014

I have a contract with a rugby union for 6 month R10 000 pm total is R60 000 for the 6 months. Do I need to pay tax?

IRP info not prepopulating on employee profile

  Written by Marc   Posted 3 November 2014

Why is the IRP5/501 Reconciliation information filed with SARS not prepopulating on my employee's IRP5? This particular employee has more than 1 IRP5 for the 2014 tax year.

Can I claim expenses in the current tax year for prior year expenses?

  Written by Marc   Posted 31 October 2014

I am a provisional tax payer. My 2013 tax year has been assessed and finalized.
Can I claim business expenses in my 2014 tax year, that were incurred in the 2013 tax year but not claimed?

my question is, should I have uploaded only for 2012 or for 2013 and 2014 as well?

  Written by Marc   Posted 31 October 2014

Good Day TimThank you for an awesome website.Ive done my efilling on the 20th october 2014, upon my login on efilling, For some weird reasonmy 2012 and 2013 returns did not go through on their site,well I 1st completed 2014 and a payout is due to me.I then completed 2012 and 2013, where 2012 I need to pay in less a 2 digit amount which is not alot.2013 end result no payout,on the 23rd I reived an sms and email stating there is a correspondence awaiting please log onto efilling.the correspondence...

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Payment method

  Written by Marc   Posted 31 October 2014

Hello pls inform me how and where do you pay SARS?

Incorrect travel reimbursement code on late tax submission which results in taxable income?

  Written by Marc   Posted 31 October 2014

I recently completed my 2014 tax return and was due a refund. Shortly after I was asked to complete my previous year return. I haven't done it as I was under the impression that I was under the tax threshold (below 250k). Whilst doing the return I noticed my previous employer incorrectly included my travel reimbursement under the wrong code per IRP5 ( they included as non taxable where as it was actually taxable as it was over 8000 km)
As a result I have a large amount now owing to SARS.
Is there any way for me to deduct actual costs for this if I don't have a log book? I do have a basic summary for the bulk of the expense which I presented to the employer for reimbursement....

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Payment method for outstanding taxes?

  Written by Marc   Posted 30 October 2014

Hello pls inform me how and where do you pay SARS?

How much is my tax refund this year?

  Written by Marc   Posted 30 October 2014

I would like to know what my possible refund could be?

Would I qualify for a Tax Refund if I earn R7000 a month before deductions?

  Written by Marc   Posted 29 October 2014

I currently earn a salary of R7000 p.m before deductions. R199.50 is deducted every month for PAYE Tax and R70.00 for UIF.

Do I need to fill in a Tax Return form and would I qualify for any refund. I do not have any Medical Aid or Pension Fund,etc.

I'm not very clued up on all these things.

Your help would be greatly appreciated:-)

Additional Income - is it taxable?

  Written by Marc   Posted 28 October 2014

I currently earn R12650 R1391.50 shift allowance per month through my company. I will be getting an additional income R8085 from next month separate to my employer.
1. Do I need to declare this additional income?
2. Will this push me into the next tax bracket and what will be my tax amount?
3. How best can take advantage of any tax benefits for this additional income?

ITA34 question?

  Written by Marc   Posted 28 October 2014

What does the below SMS from SARS mean?
'Notice issued on SARS eFiling. ITA34 notice for 2014/1'

HOW WILL I REFUND EXCESS UIF CONTRIBUTIONS

  Written by Marc   Posted 22 October 2014

I HOLD TWO JOBS IN DIFFERENT COMPANIES, BOTH CONTRIBUTE TO UIF, WILL THE EXCESS CONTRIBUTIONS TO UIF BE REFUNDED ON MY TAX RETURNS?

Is a verification of assessment notice that assessment have been concluded?

  Written by Marc   Posted 22 October 2014

I received a Verification of Assessment and it states that refers to a specific tax period. No adjustment has been made to the assessment. Is this to say that the year of assessment can be deemed completed? All documents previously requested was provided etc. Am I not suppose to receive a ITA34?

SARS won't register me as an eFiler?

  Written by Marc   Posted 22 October 2014

I have completed a once off registration as an eFiler, told to wait 48 hrs for verification, the problem is it been weeks now nothing, when I log in to my profile to continue with my filing it still says I must wait for 48 hrs. Help wait to do now...

Tax on Severance Pay?

  Written by Marc   Posted 21 October 2014

how do you tax Severance Payment?

Hi TaxTim just one question how long does a refund take

  Written by Marc   Posted 20 October 2014

Hi TaxTim just one question how long does a refund take I did eFiling on 23/09/2014 and gave supporting documents and still no word from SARS (20/10/2014)?

Do I get a Tax Refund if I change jobs?

  Written by Marc   Posted 17 October 2014

I heard somewhere that if I changed jobs this year or worked for less than 12 months then I might get a tax refund back from SARS.

Is this true? If so, can you explain why?

Claim Unpaid tax returns from SARS?

  Written by Marc   Posted 15 October 2014

Will SARS ever pay out my unpaid tax returns. SARS should hold records of my annual tax deductions from my various employment. So how should I claim for what is rightfully mine?

claiming rental expenses against bond (residential)

  Written by Marc   Posted 15 October 2014

Hello Tim,I came across this and would like some advice on whether or not it means I shouldn't claim rental expenses for the space I use for office purposes in my home. I'm still paying the bond towards the property and use one of the rooms as an office. (beware, if you own your home, do not write off a portion of your interest on your bond or rates, as you will lose your primary residence capital gains exemption of R2-million! When you sell your property one day, this would equate to ...

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Can I see on the calculation if they going to audit me?

  Written by Marc   Posted 15 October 2014

If I do my tax and ask to calculate before I submit it will it show me on the calculation if I they going to audit me?

Help for a non-resident of South Africa fill in tax returns?

  Written by Marc   Posted 14 October 2014

I am a non-resident of South Africa because I have been living and working in the UK for the past 2.5 years. I had gotten some (bad!) advice from someone that said that I should continue to fill in my tax return because I have not officially emigrated. He said I should just fill in "0" for income and to state that I am unemployed. I went ahead and did this, but now SARS are asking for additional verification documents. I can still amend my return online. I realise now that I probably d...

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In serious need of help and advice please

  Written by Marc   Posted 14 October 2014

Hi,

My previous employer failed to submit my IRP5 in time. I was only issued (after a few months of begging) with a copy of my IRP5. This I sent to my Tax Practitioner, I have been informed that Im being audited via my Tax Practitioner, SARS didn't contact me, can this be? What does it entail? Am I in trouble for a previous employer's negligence? What to do now that the closing date is in November and I still haven't heard / received anything.... what will happen if I miss the c...

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UIF reference number and IRP5 for employee under threshold

  Written by Marc   Posted 13 October 2014

1. Do I need to create an IRP5 certificate for an empoyee that earns under the threshold?2. I am registered for PAYE - and was told I will be automatically registered for UIF. However I cannot add a UIF amount in my IRP5 certificates because it asks for a UIF reference number. Where can I get my UIF reference numberTHANKS so much

What are the different payment options on TaxTim?

  Written by Marc   Posted 10 October 2014

explain for me TimLite, TimSmart, TimUltra what is it and the different? I am now stuck on that field
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