Learnership agreement tax deductions

  Written by Evan   Posted 28 July 2015

I am a permanent employee at a company that trades and makes money from an aviation sector. We are a charter company basically. Am I correct in saying that if I enter into a registered learnership agreement with my company doing a course that is aviation-related, can my company claim deductions for said learnership agreement?

I stand corrected but it should be R30 000 per 12 month period and R30 000 for completion. I am also a permanent employee does this make a difference when enter...

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IRP5 banking details differ at SARS

  Written by Evan   Posted 28 July 2015

An employee in my department had his salary paid into his wife's bank account. Upon the entity providing him with his IRP 5, he stated that the HR department must have requested the information which he would like to have on his IRP 5, probably because now his registered details with SARS, (banking details), will not correspond to the details on his IRP5.

Is the onus not on the employee to provide the company with valid and correct banking details?
Or can the employee change t...

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Are contributions towards GEMS and the GEPF tax deductible for government employees?

  Written by Evan   Posted 28 July 2015

Are contributions towards GEMS and the GEPF tax deductible for government employees?

Claiming medical bills from SARS

  Written by Evan   Posted 28 July 2015

I paid almost 10k in medical bills which medical aid did not cover. Yet SARS only paid me R100.00 back.

Retrenchment on IRP 5

  Written by Evan   Posted 27 July 2015

If I was retrenched and paid out, where to do I put the amount that I was paid out and how does this effect my tax return?

Severance payment

  Written by Evan   Posted 27 July 2015

What are the tax implications for compensation resulting from unfair dismissal by an employer?

Travel Allowance and take home pay

  Written by Evan   Posted 27 July 2015

Using your tax calculator, why is the travel allowance deducted from your take home pay? I understand 80% is included for your PAYE calculation, but your travel allowance should get paid out, unless the company pays costs on your behalf. What am I missing?

Income protection policy contributions

  Written by Evan   Posted 26 July 2015

I have contributions to an income protection policy. The policy belongs to my employer due to the fact that we used be on basic plus benefits but we have now moved over to cost to company. Are these contributions deductible by myself or not. If not what code should they be under in my IRP5?

Should monthly Child Maintenance received, be declared as part of my income?

  Written by Evan   Posted 26 July 2015

Do I include child maintenance received monthly as part of my income? I'm a provisional tax payer, and would like to start on preparing my IRP6 due in Aug. Also, my daughter lives with me, and contributes a monthly amount towards household expenses. Does this amount also have to be calculated as income?

Loss with expenses exceeding income

  Written by Evan   Posted 25 July 2015

Started as estate agent. Have incured training and other costs which exceeds my income. I also have rental income. How do I treat / tax man will treat the loss from the estate agency job?

Paying my Mother's medical aid

  Written by Evan   Posted 25 July 2015

I pay my Mother's medical aid premiums. These deduct from my savings account via a debit order every month. My Mother is fully dependent on myself financially (no income, no assets, nothing). She is 62 years of age. She is NOT disabled. She receives a SASSA grant. Her Medical aid is in her own name, and she is the main member. The reason she is not on my medical aid, is because my medical aid wanted to add a loading to her premium.

Can I claim this monthly premiums back from SARS?

Is vitamins deductable?

  Written by Evan   Posted 25 July 2015

Can vitamins bought over the counter be claimed?

Separating IRP5 related sales from income total

  Written by Evan   Posted 25 July 2015

I run a small business which sells research services. It's a sole prop, but when I'm contracted by university it generates an IRP5. In my income tax return, when it asks, after the question about the value of sales, if there is any income reflected on an IRP5, does that mean I shouldn't include the IRP5 income in my total sales figure? Also, where (and what rate) do I claim insurance for necessary equipment such as my car, computer, and phone?

How is the 3703 travel allowance calculated?

  Written by Evan   Posted 25 July 2015

I received a reimbursive travel allowance under code 3703 of about 41 000 on my IRP5. I traveled over 8000 km and my rate was above the gazetted rate of 3. 30 for part of the year.

1) Will SARS reduce my taxable travel allowance by 30 555(8000*3. 30).
2) If I kept a log book is they a section that I will enter the deductible amount on my IRP5 and what is the code.
3) Will I get a refund if my deduction amount exceeds my taxable travel allowance amount or is it limited to ...

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Percentage tax on provident fund

  Written by Evan   Posted 25 July 2015

How much deductions on provident fund of R61,000?

Tax on share sales

  Written by Evan   Posted 25 July 2015

I have sold some shares, and made a small profit. Reading the rules around tax on shares, I have deemed it to be subject to Capital Gains tax, and not taxable income. Could you please advise where to declare it on my SARS e-filling, under local gain/loss?

I don't see a section where I can write a description or enter a source code. Do I need to declare this amount if it falls within the annual exclusion amount?

Tax deduction from pension payout

  Written by Evan   Posted 25 July 2015

I have been employed since 1992. I took a departmental transfer to SAPS in 1995. I did not receive my pension paid from 1992 so I have 23 years service. I want to resign end October 2015. The sum to be paid is R125,9374.40. How much will I be taxed and how much will I get out after tax?

IRP5 not available from employer

  Written by Evan   Posted 24 July 2015

If I had not received my IRP5 from my employer and need to submit supporting documents, are the ones from the ITR12 suitable to attach on SARS eFilling?

Medical expenses not covered by medical aid

  Written by Evan   Posted 24 July 2015

Hi, I belong to a medical fund. But I have expenses of R5 314 which were not paid by my medical aid. I paid it myself, have the receipts. Under which code do I put that amount in, to claim it back?

Got an ITA34 and am in audit. How long will it take for refund?

  Written by Evan   Posted 24 July 2015

Hello, I have filed for first time tax returns and they said it went into audit because i filed only for 6 months pay, however I have now provided them with all docs required. I have received an ITA34 showing how much I get refunded.

Could you please tell me how long will it take for me to refund the money into my account?

IRP5 missing for 2007

  Written by Evan   Posted 24 July 2015

I have been doing SARS eFiling since 2010 (first assessment submitted for 2009). My question is that SARS can not refund the payment due to me for my submitted 2015 assessment as my tax returns for 2007 and 2008 are still outstanding.

The company informed me that no IRP5's for that two years are still available. What do I do now? My income was less than R100 000 a year though - is there any way that I can submit a nil tax return? I can not indicate that I was unemployed for the years...

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Why is my home office selected for verification second year in a row?

  Written by Evan   Posted 23 July 2015

I work from my home office as a graphic designer. My annual income is under R500 000. This is the second year in a row I've been selected for verification. Any idea why and what does it mean? What should I be doing differently to prevent being flagged? Is it a reflection I'm doing something wrong?

How do I know what the status of my audit or verification is?

  Written by Evan   Posted 23 July 2015

Hi TaxTim. How do I know what the status of my Audit or verification is? I've submitted supporting documents on the same day 8 July 2015. They usually say 30 days but in the past it was usually sorted out within a few days. I'm due a refund of R28k.

I made a silly mistake :(

  Written by Evan   Posted 23 July 2015

Hi there TaxTim

I religiously file my tax returns every year and made a horrid mistake this year. I was due a refund from my 2015 tax return (did the return on 01/07/2015) and haven't received it as yet. After calling their call centre, I was told to complete my 2011 tax return. I did this and checked my 2010 and 2009 to ensure all information was correct, accurate and submitted. (I was thinking, chances are, they would tell me to submit 2010 and 2009 to process my refund after submitting 2011. )...

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Tax refund for registering with health profesionals council

  Written by Evan   Posted 23 July 2015

Can I get a tax refund for registering with the Health Professions Council of South Africa (HPCSA)?
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