Medical aid tax rebates - Employer pays half directly into my account

  Written by Evan   Posted 2 July 2015

My company offers to pay 50% of my medical aid contribution. This money is paid directly to me (included in my salary into my bank acc). The amount is indicated separately as "MEDICAL AID" on my payslip. I therefore pay the full amount of the monthly cost to my medical aid every month from my bank account. On my IRP5, my employer indicates their 50% contribution under Deduction code "4005" even though they do not pay the Medical aid provider directly.

My question is:

A) Should this amount be listed under "4005" (According to SARS there should be no amount under 4005 if the employee pays the medical aid personally) ...

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Rental income of a jointly owned property

  Written by Evan   Posted 2 July 2015

My husband and I are married out of community of property but jointly own a flat that we rent out. When completing my provisional tax return do I include 50% of the income and expenses in mine and 50% in his return or do I include 100% in both our returns and then select the 50% partner option?

My statement of account balance changed to zero. Help

  Written by Evan   Posted 2 July 2015

Why has my statement of account balance changed? Yesterday it had the refund due to me, when I my efiling profile check this morning my balance is R0.00. Does this mean assessment is complete and I should be receiving my refund today or tomorrow?

Travelling expenses independent contractor

  Written by Evan   Posted 2 July 2015

I work as a independent contractor through a agency contracted to Nedbank, I am an IT Solutions Architect , my cost to company is R75,000 pm. Can I claim my travel on SARS efiling? It's not set out on my IRP5 with a code for travelling expenses.

Says I don't have to submit a tax return because I earn under R350 000

  Written by Evan   Posted 2 July 2015

Says I don't have to submit a tax return because I earn under R350 000. Is this true? Why has SARS changed their mind?

Supporting docs turn around time for approval

  Written by Evan   Posted 2 July 2015

Hi,

I submitted my Tax return for 2015 and my SARS calculation showed that I am owed a refund. However I was asked for supporting documents which I submitted. Does SARS give you a confirmation once all documents have been verified? How long does the verification process take?

Medical Expenses for Tax Return

  Written by Evan   Posted 2 July 2015

I was on maternity leave for 4 months last year, I only joined a medical aid in August and baby was only covered from October. My whole pregnancy was paid for cash ( +- R60 000 ) I have calculated my return and it is not what I was hoping for. How does medical expenses paid cash work out?

Bursary repayment deduction

  Written by Evan   Posted 2 July 2015

I'm am repaying a bursary on a monthly basis. Can I use it as an deduction on my personal income?

Thank you

Tax returns on provident fund

  Written by Evan   Posted 2 July 2015

Hi, I would like to know is it possible to claim tax returns on your provident fund that was payed out as a lump sum and where to start?

Deduct medical expense

  Written by Evan   Posted 2 July 2015

Can I deduct medical expense I paid myself if don't have medical aid?

Rental income at a loss

  Written by Evan   Posted 1 July 2015

Hi,

I have a apartment that I rent out. The rental income is R5000 which is R350 less that the total expenses
Levies R680
Rates & Taxes R270
Agent Commision R400
Home Loan Interest R4000

Can this loss be deducted from my annual salaried income, and how do I do this ?

I was medical boarded for 11 months and survived with disability grant

  Written by Evan   Posted 1 July 2015

I was medical boarded for 11 months. Do I need pay tax whilst depending on grant? Will taxman compensate me during this difficult time?

RA contribution refunds

  Written by Evan   Posted 1 July 2015

I have done a calculation of my assessment. I was under the impression I will get all my RA contributions back as a refund but I did not. Is this correct? And my extra medical expenses, where do they go?

Clarity on pension lump sum

  Written by Evan   Posted 1 July 2015

I took a lump sum of my pension. Will I get money back?

How to calculate tax return?

  Written by Evan   Posted 1 July 2015

How do I work out how much tax I'll collect each year?

Will it be better to pay my own medical aid contributions?

  Written by Marc   Posted 1 July 2015

Currently my employer pays for medical aid contribution. Will it be more tax beneficial for me to move from the group and pay it individually? I noticed SARS pays a monthly fee per dependant. Please advise, thank you.

I was unemployed for 3 months last tax year, how does that effect my tax?

  Written by Marc   Posted 1 July 2015

I was unemployed for 3 months last tax year, how does that effect my tax? In short I only recieved a salary for 9 months. Will I be liable to pay in any additional tax? Are there forms that I need to fill in, because I never claimed unemployment.

Tax on Medical Aid

  Written by Marc   Posted 1 July 2015

I currently work for a company where the medical aid is paid in full by the business, however my tax is killing my net. I work on a gross of R29 537. 08 PM but only net R20 042. 21 which means I am paying almost R10000 a month in tax. According to my company, they say nothing can be done to reduce the monthly tax as it would be unlawful. I want to find out if that is true or if anything can be done to help the situation?

We want to sell our property in our CC? What are the tax implications?

  Written by Marc   Posted 1 July 2015

Our CC has a property under its name which we currently reviewing a OTP for it. The CC has been dormant for the pass 10 or so years. What will be the tax implication on this Disposal And how can it be worked out?

Is it possible to apply for 5 years tax return?

  Written by Marc   Posted 1 July 2015

I haven't claim my tax return since 2010 so is it possible to get all that tax back?

Amount that didn't cover by medical aid?

  Written by Marc   Posted 1 July 2015

I have a huge amount that didn't cover by the medical aid. And I only paid quarter of that money, when doing eFiling must I put whole amount that didn't cover by medical aid or the one that a manage to pay.

Do I need to apply for a tax directive for my earnings received (private company)?

  Written by Marc   Posted 1 July 2015

Is a tax directive necessary for my consulting firm - I have a private company with 1 employee (myself). I provide consulting services through another IT firm to their clients. I provide the firm with a Sales invoice for hours worked etc at the end of every month. They in turn pay the full invoice amount. I pay myself a fixed salary (PAYE & UIF deductions included) through my business. The remaining amount is profit to the business where we're liable to pay company tax (usually around 7% turnove...

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Changing jobs for taxes?

  Written by Marc   Posted 1 July 2015

How will SARS know that I changed jobs? Apparently you get a return if you changed jobs but it's not formed part of the calculation? How does this work?

Domestics child's education

  Written by Marc   Posted 1 July 2015

I donate/pay for my Domestics child's education. Can I claim it back?

Sars Disablity and Threshold

  Written by Marc   Posted 30 June 2015

I earned R254000 for the 2014-2015 tax year. My son is "disabled" and I am able to claim for qualifying disability expenditure. I see now that you need not submit a return if you earn least than 350000 for the year, however, as I am to receive a refund due to my son's status I want to submit. Why is sars doing this? As to avoid paying refunds to us lower echelon tax payers?
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