Tax Threshold Posts in Tax Q&A

Freelancer with multiple sources of income, what sort of tax do I register for and how do I sumbit?



I am a freelancer working in the film industry. As such I have have periods of consistent work with a production company for a number of months, but also gain smaller amounts of income from private work on the side. Giving short courses and doing small corporate or private videos and edits. I am not registred as company and do all work as a private individual. How do I divide up my income, to sumbit for my tax return?
And what type of tax-payer would I register as?

This is my fir...

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Tax on Sole Trader



Hi all, I'm considering starting a Sole Proprietor business. I'm not exactly sure regarding the tax implications. Let say for example I receive R10,000 per month (independent contractor I receive this from 3 different sources)... All this income goes into my personal bank account... Should I now pay personal tax on the whole amount of R10,000 or do I just pay personal tax on the net amount after my deductions for bringing forth the income?And if I hire one employee and I get R5k and he gets 5K p...

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Do I need to pay tax and can I qaulify for VAT number



I have a contract with one of the courier companies, I make _R3400 per week then pay my driver R1000 and use _R1300 for petrol and clear _R1300, do I still need to pay tax?

Tax for pensioners



I am helping someone with their tax. The person is 66 years old and has an monthly retirement annuity payout of R7000 and monthly interest (from investments) of about R4000 that gets paid out also monthly to them. Should a tax return be filed,or are there exemptions? I know the over 65 year olds get exempt of certain amounts for interest earned,but im not sure if that is the only excemption,or is there a total amount of income they are excempt of? Or must you add the two excemption amounts toge...

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Should I register for provisional tax if I have more than one employer?



What do you do if you have more than one employer and thus have more than one IRP5 or IT3? Should you register as provisional tax payer or not?

Capital Gains on joint ownership of property where only one person is the primary resident.



I am joint owner (50%) of a property with my son. He is the primary resident, I am not. If we sell the property, how is the Capital Gains Tax calculated? The gain will be way below the threshold of gain of a primary residence.

Must I pay provisional tax?



I earn a salary of R5500 per month, I am under 65 years and receive interest and dividends of R25000 per year. What forms must I complete for my tax return? Must I pay provisional tax?
Thank you

Academic fees from SARS?



I'm a full time student who works at different places over weekends to fund my studies which are ~R50K p. A
Is there a portion that I can be able to claim back from SARS?

Will he be taxed and will he be able to claim a deduction?.



A sole trader, pays himself a salary of R4000 per month. Will he be taxed on this amount?. Will he be able to claim a deduction of this amount from his business profits?.

Is the Provisional Tax threshold inclusive of Normal Salary + My company paying me out (Dividend)?



I registered a company and It was registered for income tax. I am the sole Director and shareholder. When it makes money and I pay some of this to myself am I liable for provisional tax? I know there is a threshold but does that threshold amount include my Normal Salary that I get from my employer?

Passive investment and unit trust income - do I submit a tax return?



I am an independent contractor and my earnings is below R200 000 per year. Over the past two years, I have managed to save and have invested R100 000 in listed shares and R50 000 in investment funds such as unit trusts. I am not sure whether I need to submit a tax return?

Should I do a tax return if my business revenue was less than R 350,000.00 for the year?



Hi guys,

I've got a sideline business (CC), and our revenue was WAY less than R 350,000. 00. Should I still process a tax return?

Can I correct an already sumbitted tax return?



I submitted my tax and was told how much of a R,,,, amount I will be getting back(great news). However straight after I submitted I realized there is a stack of receipts at home for medical bills that I did not enter. Is it too late to correct the already submitted tax return?

How long will it take to get assessed and refunded( it will definitely be more than the R,,, amount they gave me today). How long do I have to make a correction if I can?

Confused between the ITA34 and ITSA



This year is the first time I had filled a return. The previous years my ex-employers did not add anything to my IRP5 and I was earning under the threshold. This year, I have tried once again and was successful. All info on IRP5 from both companies was there. I then had to fill in 2013, 2014 and 2015. My ITSA shows a refund of R9K with No verification needed. But when I look at my ITA34 for 2014 and 2015 they are asking for verification as I owe SARS. Please help in understanding this.

Correction not amended on eFiling



Hi Tim. I submitted my tax through SARS efiling. I am claiming for medical expenses not covered by Medical Aid. The amount to be paid out to me was R5 700. I then had to make a correction as I found another slip which was a lot of money, so I filed for a correction. The amount they paid out in the end, still reflected the initial amount of R5 700. What should I do?

Why should I pay tax because I earn so little.



I'm an intern for a year & I earn 60000 per annum, do I really have to pay tax? It's a daylight robbery because I'm not permanent.

Do part-time workers with no fixed salaries qualify as temporary workers and tax refund?



Good day. I am not formally employed. I only do part time work via an Agency (Labour broker) which then deducts tax money before paying me, per shift, on a weekly basis. I got a IRP5 form with a total income of ZAR 350,000 for the past financial year.

Am I a temporary tax payer?
Do I qualify for a tax refund?

Are monthly RA and Living Annuity Income fully taxable added onto salary?



I am receiving income from living annuity, approx R2000.00 per month and an additional R375.00 fixed amount from a retirement annuity. I also am still earning a salary over the threshold limit. I include this in my total earnings, although this is not rental, or trade related. Is this the correct procedure? I am then taxed on the full amount. I am pensionable age.

2011 threshold for paying income tax.



What was the threshold to pay income tax for the period 1/3/10 to 28/2/11. SARS asked me to submit documents for that year now.

Do I qualify for income tax in the new law.



I have a small business renting apartments and my annual income is R 300 000 before expenses. I want to find out if I qualify for income tax with the new tax law.

Investment and capital transfer



I have recently got married to a UK national and he is wanting to transfer some funds for an investment in SA. He is going to transfer the funds into my current account which I will then transfer into a unit trust.

Firstly do I need to submit a donations form they have on the SARS website and if it exceeds the R100,000 will it be liable for tax?
Secondly the income from the investment will be paid monthly. If it exceeds the R23,080 annual exemption what is the rate on the excess? Is it still taxable even if it is below R70,000 per year? I have no remuneration just the investment income....

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Treatment of legal costs in CCMA



Was unfairly dismissed and at CCMA employer agreed to retrench me. I received the correct tax directive. How do I claim the legal costs incurred to fight my employer? I am unemployment but received rental income from my properties during the tax year.

Tax return not submitted 2008



Hi Tim, I have submitted my tax returns from 2010 to date but did not from 2008 and 2009 as I thought I was below the earning bracket. I called SARS now and I am due for a refund but they want my tax return for 2008 and 2009. How do I go about doing this?

Sars E-filing or not? Earn under R350 000



Hi Taxtim. I already completed my tax return today via sars e-filing. The sars calculator shows a amount refundable to me. What I want to know is, is it correct for me to assume that I can still go ahead with this return despite of the fact that I didn't earn more than R350 000? Also I didn't change jobs, I worked for the same company for a year and 4 months but we were franchised so I have two different IRP5's from two different cc's. Also why I really want to do it because I have a really ex...

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Return requested by accident and filed



Recently I got a bit confused on the SARS eFiling website and accidently requested a tax return for 2005 and 2010. I get very nervous when submitting tax so having seen red text saying a tax return for 2005 and 2010 are incomplete (after I requested them) I completed the tax returns however there was nothing to submit as I was still in high school in 2005 and I was a student at university in 2010.

I did serve an internship in 2009 for 7 months for which I was paid R3200 a month, howe...

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