Deductible company expenses

  Written by Evan   Posted 16 July 2015

For many years I operated as a sole Proprietor. Early 2014 I registered a PTY Ltd and duly traded as the PTY LTD. As executive director, by choice I did not draw any salary, the idea being that this would help the company cashflow by saving more working capital. I paid for all vehicle expenses ie fuel, maintenance, privately out of my savings, but approximately 90% of the vehicle use and expenses are attributable to the PTY LTD business. Is there any way that these expenses can be recovered from...

Read more →

Motor Bargaining council levies, were deducted, but I was never registered

  Written by Evan   Posted 16 July 2015

My employer was deducting Motor council levies, but I was never registered. They said I will not get my levies back to me. I had to approach the Motor Bargaining council to get the motor levies paid back to me, and was paid as a cash deposit, instead of on line banking transfer. Surely, the money that was originally deducted from me, went to another account, or invested elsewhere, how did they manage to do their tax return. Is there any way, that I should report this matter to SARS, etc?

Contract workers are they refunded for tax?

  Written by Evan   Posted 16 July 2015

Contract workers are they liable for tax?

Time taken to issue new tax number

  Written by Evan   Posted 16 July 2015

My previous tax number is listed as insolvent and SARS assisted me with a new IT77 application for a new tax number, I was made aware that since the insolvency that SARS has money owing to me for the years that followed. They advised that they will transfer those funds onto the new tax number and then I will receive my rebate. Once I get the new tax number I can then submit my last IRP5 to the new tax number as well. Happy with that.

My question is how long does it take SARS to issue...

Read more →

Haven't received my return 7 days after an IT34 was issued

  Written by Evan   Posted 16 July 2015

I submitted my tax stuff on SARS eFilling exactly 7 days ago today. SARS responded promptly with an IT34 notice, which indicated that I'm due to receive a tax return (which was a negative amount, not sure what that means. Do I owe SARS or do they owe me?). Now I still haven't received the money (7 days later). What could be the problem?

ITA34 issued but no ITSA

  Written by Evan   Posted 16 July 2015

I submitted my 2015 tax return. My refund was not paid out because they said I need to submit my 2010 tax return and I went to the SARS branch and filed manually. I received an ITA34 but no ITSA and in audit or verification is says N.

Will I get the refund even though I didn't get my ITSA?

Medical aid for 7 months only

  Written by Evan   Posted 16 July 2015

Hi, I only had a medical aid from March 2014 up to end September 2014. Am I allowed to claim for medical aid even though I only had a medical aid for 7 months?

How long does it take to be paid after being sent for verification?

  Written by Evan   Posted 16 July 2015

I would just like to find out I did my income tax and it showed they owe me R5000 but after that I was sent for verification but now as I check my SARS eFilling profile it says assessment received does it mean I will get paid soon or what?

First a refund now I owe them

  Written by Evan   Posted 16 July 2015

Hello
I submitted my tax return and it said that I was due a refund of about R800. I then went through my medical expenses and saw I made a mistake in my calculations. So I went and corrected it (originally my medical expenses out of pocket was R8900, after I corrected it it was about R8200). Now it says I owe them about R200! I do not earn enough to do e-filing in the first place, I submit because of my medical expenses. Please help?!

Claim business usage for private car

  Written by Evan   Posted 16 July 2015

Hi I am using my private vehicles for business travel, part of my job is to do site visits, client meeting ect. I did not receive a travel allowance from my company. Please explain how I can claim this back as I do have log sheets for the travel. I am busy having my package restructured to include a car allowance.

Part 2: can I claim depreciation for one vehicle and also claim travel back or is it not allowed?

Tax liability for monetary gifts from overseas

  Written by Evan   Posted 16 July 2015

UK citizen with permanent residency in SA. I work part time for which I get paid and also volunteer for a church for which I get regular and occasional gifts from individuals and churches in the UK and paid into my UK account, and occasionally transferred to my SA bank account.

I have been paying tax on everything on the advice of SARS for a number of years. Friends have questioned this. Am I liable to pay tax on regular gifts from individuals in the UK? Am I liable to pay tax on reg...

Read more →

Expenses on rented property

  Written by Evan   Posted 16 July 2015

How do I claim expenses on rented property?

How to claim input VAT if the purchase was before registering a CC as VAT vendor?

  Written by Evan   Posted 16 July 2015

I bought a truck and trailer for a business in July 2014 to start trading in transport logistics. At the time I had not registered for VAT. How can I claim the VAT input on both the truck and trailer?

Can I file a correction without the expenses filed in version 1?

  Written by Evan   Posted 16 July 2015

I filed my tax return with additional medical expenses and only submitted a statement from the doctor and cannot find my receipts. Can I do a correction?

Incorrect income code on IRP5. 3601 instead of 3616

  Written by Evan   Posted 15 July 2015

Hi TaxTim,

Appreciate the brilliant service!

I'm an Independent Contractor who initially submitted my tax return on Monday, this week. After getting my ITA34 a couple of hours later, I realised that certain expenses had not been included. A day later, I went in to a SARS branch to submit a revised tax return. Upon getting home the same day, I received an e-mail from work that stated that they had incorrectly entered my income on code 3601 instead of 3616. Will SARS allow m...

Read more →

Problem with logbook

  Written by Evan   Posted 15 July 2015

Hi there. Please can you help? I don't normally claim travel allowance or petrol, so this was a once-off thing. This is now indicated on my IRP5, but I don't have a log book. And I have to submit it to SARS as I have been selected for an audit. Do I have to claim it or can I request a correction and remove it from my tax return? Please help. Thanks

Taxable allowance for cell phone 3713

  Written by Evan   Posted 15 July 2015

I received cell phone allowance under code 3713 (taxable). Where on the tax return can I claim the expense?

Overdeducted PAYE

  Written by Evan   Posted 15 July 2015

I started a 5 month contract earning R8000 per month and I am not employed elsewhere. My PAYE deduction was R2000. I know this is too much. How or when will I have it tax returned?

Penalties for not submitting tax for pension payout

  Written by Evan   Posted 15 July 2015

Hi Tim, I received pension payout from divorce settlement in 2014. SARS deducted their share. I didn't submit IRP5 last year. My question is, the money is now finish. Will SARS penalise me if I submit this year? I am working but my income is below the threshold.

When is a refund paid into your account after the assesment?

  Written by Evan   Posted 15 July 2015

Good day

I have submitted my tax return as well as all the supporting documents. My SARS eFiling status says "assessment received" and the SARS status says "return assessed". I have requested a statement of account and I have an amount owed to me as per the statements and the IT34 but how or when is the refund paid into my bank account?

Tax return delay after submitting supporting docs

  Written by Evan   Posted 15 July 2015

Hi Tim,

I have been audited by SARS sent all my supporting documents immediately when they ask for it - my logbook plus had to send them a HP of my vehicle. How long will they take to refund my money?

2014 IRP5 for 2015 tax year

  Written by Evan   Posted 15 July 2015

Can I use my 2014 year of assessment IRP5 to claim for 2015 year of assessment?

SARS pay date for refund - 21 days?

  Written by Evan   Posted 15 July 2015

Good day. For the tax year 2015 I filed my tax return at the branch then called to follow up when they paying me. I was told I need to file the outstanding 2011 and 2012 tax return. I registered for e-filing and did that on Saturday then Sunday morning I was sent a statement of account. It says "selected for audit", so I called the call centre to follow up again when I'm getting paid. They say up to 21 working days, is this right?

Can I claim back certain skin care, hair and nails expenses?

  Written by Evan   Posted 15 July 2015

I work as an account manager for a skin care brand within the professional skin care industry, the image I present is thus very important as it is representative of my company. Can I claim back expenses spent on maintaining my image i. e. skin care products, hair, nails etc?

What kind of supporting documents do I need as proof of my own medical expenses?

  Written by Evan   Posted 14 July 2015

What kind of supporting documents do I need as proof for medical expenses out of my own pocket? I had hospital expenses where I received a statement indicating the amount paid by the medical aid and the amount I had to pay in. On the statement it shows the payments made by me (I made monthly payments).

Is this sufficient proof of my payments? What proof do I need for my monthly prescription medicine (my medical aid does not cover my medicine). I paid out of my own pocket each time.
...

Read more →
Older posts →← Newer posts    60  61  62  63  64  65  66  67  68  69  70  71  72  73  74  75  76  77  78  79  80