How much do I set my travel allowance amount for this tax year?
Written by Nicci
Posted 15 January 2016
I should be able to claim a travel allowance as I am consulted out to one or more clients on a permanent basis from my employer. However, I don't have a travel allowance on my payslip and I need on in order to claim. I can request for an allowance to be added, but it needs to be added as a matter of urgency to be part of this tax year. Question is how much do I set the amount to? Would it need to be 12x what the normal amount should be?
Can I claim Provident Fund from SARS?
Written by Nicci
Posted 15 January 2016
I am a member of a Provident fund does this mean I can claim from SARS? Like I would with an annuity
Retirement fund withdrawal
Written by Nicci
Posted 15 January 2016
Hi, I am changing jobs, and I have the option of withdrawing some or all of my current balance in my provident fund. Please advise on the rules surrounding withdrawals. Is there any limit to how many times one may withdraw in lifetime? I will leave my current job at the end of Jan, so it still falls under the current system. Will any of the changes to RA that come into effect on 1 Mar 16 affect these withdrawal rules.
Am I supposed to pay tax?
Written by Nicci
Posted 15 January 2016
I am a foreign student studying in South Africa, I got a part time job earning about R20,000. I resigned after 2yrs 8months. I was informed there is a provident fund I was to collect. The company was deducting tax from me every month. Was I supposed to pay tax? And will this affect the tax directive for me to receive my provident fund
Tax rules for foreign income
Written by Nicci
Posted 15 January 2016
Please advise the tax rules for working outside of SA? No income is earned in SA only abroad.
Salon tax
Written by Nicci
Posted 15 January 2016
I own a small salon. It's doing pretty well. It's been 6 months since it opened. It has its own business account. I have 3 employees, 1manager (7k) and 2 casuals (3k monthly). Problem is I don't knw where to start; how should I go about with SARS and my business, what should I bring? I contacted an audit company and they requsted 12 bank statements. I have 6months. is it early for my business to do SARS....? And my employee who earns 7k and me should I tax our salaries by where to pay?
Tax Deduction from Provident Fund
Written by Nicci
Posted 15 January 2016
I had R300 000 tax deducted from my late husband's provident this year - will i qualify for a tax refund? I am unemployed i was dependent on my husband fully
Resignation
Written by Marc
Posted 14 January 2016
If my retirement fund is standing at 63000 and I resign how much will I get out? Thats including company contributions. Its not my first time I resign from a company. And what if the company contributed group life insurance? Will I get out less than 30000?
Do directors have to pay PAYE?
Written by Marc
Posted 14 January 2016
I have seen a few times where directors of companies are not paid the same amount each month. The company does not pay PAYE over each month (in fact company is not registered for PAYE) and all that happens is the director declares his total earnings/drawings for the year in his ITR12 at the end of the year. This amount then corresponds to the "directors emolument" line item in the financial statements. Is this okay to do this?
Receiving money from abroad that's not gift or work related
Written by Marc
Posted 14 January 2016
Hello
My father-in-law lives in Mauritius and is coming to SA in April for a holiday. He wants to send money (R50,000) to my bank account so that I can pay deposits, etc. I've phoned my bank and they say I can give the reason as "travel by non-resident". But they can't tell me if I'll need to declare the money or if I'll be taxed. Can you help me please?
Turnover tax
Written by Marc
Posted 14 January 2016
My husband and I are architectural draughts persons, in a partnership and provisional taxpayers. Can we switch to turnover tax?
Tax Returns - process?
Written by Marc
Posted 14 January 2016
What and when is the procedure for claiming tax returns?
Do I have to pay tax if I earn R5500 monthly?
Written by Marc
Posted 14 January 2016
I'm earning 5500 Rand am I have to pay tax
Vehicle repayments
Written by Marc
Posted 14 January 2016
Hi Tim I am a solely commissioned based earner for one company can I claim vehicle repayments
Is there a penalty when SARS is late in payment to a taxpayer?
Written by Marc
Posted 13 January 2016
Hi there,
Is there a penalty when SARS is late in payment to a taxpayer? If so, what is the penalty. Hopefully this works both ways. I'm eager to know. It would be much appreciated. Kind regards
Paying tax on money received as a gift
Written by Nicci
Posted 13 January 2016
My sister is sending me money from the uk to me here in SA. It works out about R72,000
Do I have to pay tax on this amount and, if so. how much?
PAYE vs tax directive earning the same amount?
Written by Nicci
Posted 13 January 2016
Hi, I am currently earning R10 000 as a basic salary and get taxed according to a PAYE scale. I am moving to a commission based structure where I assume I will earn approximately R120 000 over the year. How much should my employer tax me each month?
Site allowance claim
Written by Marc
Posted 13 January 2016
i work in construction and stay out for long periods. My company pays me a site allowance(shown on payslip)
i use this for rent food and travel. Can I claim back?
Are pension contributions deductible even if it doesn't apear on the IRP5?
Written by Nicci
Posted 13 January 2016
Am I able to claim my pension contribution if it doesn't appear on my IRP5 for the 2014 and 2015 tax years?
How do I get my IT 150 form online? I just want to check when I registered for income tax.
Written by Marc
Posted 12 January 2016
How do I get my IT 150 form online? I just want to check when I registered for income tax. I am registered for SARS eFiling. Thank you
Commission earner
Written by Nicci
Posted 12 January 2016
What expenses can a commissioner earner claim (he is office based but does travel to clients using his own car and petrol. No refundable expenses)
Freelance work.
Written by Marc
Posted 12 January 2016
I am considering freelancing for a UK based company. I need to know how I would go about informing SARS etc. What are the laws regarding this situation?
Lotto winnings vs taxable ?
Written by Nicci
Posted 12 January 2016
In 2012 the Min Fin announced the lotto winning excess of 25000 is taxable. On enquiry I was told the this was not promulgated yet so as of today lotto winnings is not taxable? is this true and if not, how do I pay the taxes and how much?
Auditing
Written by Nicci
Posted 12 January 2016
Can I phone SARS to find out how far they are with auditing for someone else?
How to get a IRP5 if employer have closed and SARS have do not have one?
Written by Marc
Posted 12 January 2016
SARS requested my 2012 tax return and on eFiling no IRP5 for this period have been uploaded. I have lost my IRP5 received and the employer at that time have closed and I do not know how I can get the IRP5. What should I do?
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