How to calculate provisional tax Feb 2016

  Written by Marc   Posted 26 January 2016

As a provisional tax payer what are the periods (months) that I need to consider in order to calculate my tax submission for 28 Feb 2016?

Is SARS definition of 'taxable income' circular with respect to donations made?

  Written by Marc   Posted 26 January 2016

According to SARS, "Deductions in respect of donations to certain public benefit organisations are limited to 10% of taxable income (excluding retirement fund lump sums and severance benefits)". But taxable income is the difference between gross income and deductions, one of which is the amount donated. So the SARS definition is circular, and therefore impossible to calculate. Or am I missing something?

When am I geting the money

  Written by Marc   Posted 26 January 2016

Hi guys I claim on the 06 January 2016 it was my first to claim the guy that was helping me he told me the money will be inn in two days still never get the money. I started 2006 the guy told me I owe 2 years so I will get R700. 00 how possible is that

Capital gains tax on property

  Written by Marc   Posted 25 January 2016

I have sold property and would like a estimate how much CGTi I must pay.

How do I get an IRP5 from a previous employer (strained relationship due to CCMA applic)

  Written by Marc   Posted 25 January 2016

I am struggling to get an IRP5 from a previous company. Can I submit so long without the IRP5? If not, what do you suggest I do to get it.. Do I have to go thru SARS?

Full time employee who does after hours freelance work, should I register as a provisional tax payer

  Written by Marc   Posted 25 January 2016

I am a freelance web designer / developer. I work a normal 8 - 5 job during the day from which I get a monthly salary from my employer, I fall into the lower end of this tax bracket R377 451 - R528 000. On some months, I get side projects to work on and during the course of last year, the freelance business made approx R40000 (forty thousand rand) after expenses. I would like to find out if I should register as a provisional tax payer.

How do I deregister as provisional tax payer

  Written by Marc   Posted 25 January 2016

I got an sms from SARS saying that I owe them R5500. When I queried this,,my accountant said that SARS registered me as a provisional taxpayer, which I am not. I have a small private business in the health industry and the only other income I have is my son's maintenance from his father. How did this happen? And how can I deregister as provisional taxpayer?

PAYE Requirements for companies

  Written by Marc   Posted 25 January 2016

I have a PTY(ltd) company and would like to know if I must register for PAYE. I am the only person/owner/director in the company with no employees who derives an annual gross Salary of R72000pa.

Rebates on 740000

  Written by Marc   Posted 25 January 2016

I have been taxed 740000 on pension lump sum. Will I get something when I claim tax this year?

Lump sum 2437667 , Homeloan520000 and250000. how much to keep?

  Written by Marc   Posted 25 January 2016

I have retired and lump sum is 2400000. I owe home loan of 520000 and loan from pension of 25 000. How much am I going to keep?

Statement of account issued but still under audit

  Written by Marc   Posted 25 January 2016

I recently did my tax return for the first time as this is my second year been employed, my tax return showed -R2133 I was than asked for additional documentation I submitted my IRP5 and Medical aid certificate. After that I was selected for an audit and after about a week I received my statement of account but I still have not received my refund does this mean the process is complete? I noticed that on the statement of account under audit it says "yes". Whats does that mean and how long does th...

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Paid by SARS

  Written by Marc   Posted 25 January 2016

I was dismissed from work due to loss of voice, was working in a call centre. UIF declined my application and I have to resubmit, now I can't cause I have a new born. I was paying tax, is there a way that I can be paid through SARS until I get a job?

As a doctor having my own private practice, can I use your TaxTim?

  Written by Marc   Posted 25 January 2016

I am a medical doctor. I am having my own private practice. Can I use TaxTim to submit my tax return.

Can you be taxed more on your salary by employer?

  Written by Marc   Posted 25 January 2016

Can your employer tax you more on your salary, than what the tax calculator said?

Do independent contractors working for US company have to pay South African tax.

  Written by Marc   Posted 25 January 2016

Awesome website you have, I currently reside in Cape Town and I am a South African resident, I recently quit my South African job in July 2015. I started working for a US company as an independent contractor as of 1 September 2015 until present. I also freelance on the side for a South African business, I work about 6-8 hours a day for the US company and on average 6 hours a week for the South African based business. I would like to know, what are the tax implications in my case for South Africa...

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Do I need to submit a tax return for my small business?

  Written by Marc   Posted 25 January 2016

I own a small business which was registered as a company in March 2015 and I'm the sole owner. I distribute online products in Johannesburg and my turnover was less than R30 000. Do I have to submit a tax return?

Tax free donations

  Written by Marc   Posted 25 January 2016

25. 01. 2016. How much money can I donate annually to individuals without myself or the recipient(s) having to pay tax on it? I am a widowed pensioner.

2007 tax claim

  Written by Marc   Posted 25 January 2016

Am I still able to claim tax for tax year in 2007 I did not claim for?

Currencies Trading Income - What Tax due

  Written by Marc   Posted 25 January 2016

If I trade forex currencies with a broker, for a income every month, what type of tax do I pay?

How do I efile previous tax years returns?

  Written by Marc   Posted 25 January 2016

I have monies owing to me by SARS. This money was not paid over due to previous years tax returns not submitted. I have received the old IRP5s from my old employer and I am trying to submit these old tax returns on eFiling. However there is no option to do this. How do I go about his?

Tax rebate

  Written by Marc   Posted 25 January 2016

I did not reconcile my 2014/2015 taxes due to misplacing of IRP5. I now have it. Can I stil reconcile? I received a backpay in Jan 2015 for backdating of promotion
the backpay was taxed quite a large percentage of it..... Will I get a tax rebate/refund?

Hw much will I pay for my tax

  Written by Marc   Posted 25 January 2016

I'm resigning as from February 2016 my contributions wit gepf is R300. 333 how much tax will I play

Contractor tax registratiom

  Written by Marc   Posted 25 January 2016

I am a contract worker at my company. And I invoice the owner for my time and then get paid as per invoice. Can you please advise how to go about registering for tax.

Confused about tax on bonus

  Written by Marc   Posted 25 January 2016

I earn 3000 per month but last year in December my boss asked me for my tax number after that I got a bonus. So what I would like to know was he gonna tax me for only that one month

Do I need to register for provisional tax due to CGT

  Written by Marc   Posted 22 January 2016

If I have a R1 000 000 capital gain, do I need to register as a provisional taxpayer and pay the capital gains tax as provisional tax?
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