How should joint rental income and expenses be split and declared?

  Written by Alicia   Posted 22 July 2016

My wife and I (married outside of community of property) jointly own a property (50/50). We rent this property out, and receive a rental income in doing so. The lease agreement with our tenant lists both myself and my wife as the lessors. The rental payment from the tenant is made into my own bank account, from where it is balanced into my wife and I's joint monthly household budget. There are also monthly expenses associated with leasing our property, such as maintenance, services, and bond int...

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How much tax must I pay annually if I'm a pensioner earning investment income only?

  Written by Alicia   Posted 21 July 2016

I am 70 years old. IEarn R180,000 interest lumpsum annualy. I have a wife without any income.

No IRP5's

  Written by Alicia   Posted 20 July 2016

I worked for a company. They were liquidated and did not give me IRP5's or upload them to SARS. I don't have salary slips either. How do I submit my tax returns?

Can i claim back the tax I paid while earning commission income?

  Written by Alicia   Posted 20 July 2016

I earned R50 000 commission for the year and paid R6000 tax, can I claim perhaps?

I then started a new job November last year, for which I have my IRP5.

Income calculator if work 4 months in tax year

  Written by Alicia   Posted 19 July 2016

I worked 4 months in tax year and was given severance package will I get a refund or must I pay in as the sars directive indicates no tax payable

Does the ITR12 take into consideration provisional tax already paid for the same tax year.

  Written by Alicia   Posted 17 July 2016

I submitted my provisional income tax documents at the end of Feb 2016 for the tax year March2015-Feb2016 and made payment on the amount declared. I would now like to complete my ITR12 for this same year- how do I know that this form takes into account the amount that I have already paid for the earnings in this period? Is there a place where I need to fill that in? I do not want to pay tax on the same amount twice.

unique identifier required for ITR12?

  Written by Alicia   Posted 17 July 2016

Where do I find the unique identifier required for ITR12? I realise it relates to my profession (occupational therapist), but am unsure how to get this. I have not been allocated one in previous years.

Do I have to submit my IT3 a 2016.

  Written by Alicia   Posted 15 July 2016

Do I need to submit my IT3(a) and will I get any tax returns?

Verification/Audit Outcome

  Written by Alicia   Posted 15 July 2016

Hi. I am in a bit of a panic. My personal tax return was selected for verification/audit. SARS requested that I provide documentation for my depreciation deduction. I've submitted what I have, but don't know whether the docs would be sufficient. What would the outcome be if the depreciation deduction is not deemed valid? Would they just disallow the deduction or am I going to get fined? Do I need professional assistance or should I just wait it out?

How do I pay the amount due by me

  Written by Alicia   Posted 15 July 2016

I've submitted my tax return, I got a message from SARS that says the amount is due by me.. So how do I pay them that amount due

Am I able to make changes to a return that has been filed -- say for the 2014 year ?

  Written by Alicia   Posted 14 July 2016

Hi - Am I able to make changes to a tax return that has been filed -- say for the 2014 year?

Is my bond installment, tax deductable?

  Written by Alicia   Posted 14 July 2016

Hello Tim. I am a home owner and currently staying in the house where do I have to put in the amounts that the bank send me via a tax invoice? The invoice states that its for tax purposes.

Can i submit a dispute after the first assessment?

  Written by Alicia   Posted 13 July 2016

We were audited and received a second IT34. The amount reflected is less than half of the original amount. We want to dispute this amount. My questions: how long does it take once we've disputed and what does disputing mean?

Portion of retirement annuity contribution gets coded as 3808, why?

  Written by Alicia   Posted 13 July 2016

Last year my employer added a RA to our benefits. The deal was that the employee pays 5% of salary towards the RA and the Employer would pay 7% to total of 12% of salary towards RA. On this years IRP5 there is a big amount listed as code 3808 (Payment of Employee Debt if the policy is owned by the employee) and it seems that this amount equates to the 7% portion that the employer paid. This has a negative effect on my returns as it seems that I now get penalised by SARS for this amount. Should t...

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Can I claim my monthly expenses, can I get a refund on monthly regular day-to-day expenses?

  Written by Alicia   Posted 13 July 2016

I have properties jointly with my wife (Community of Property) and getting rents which covers all my payments towards my bonds, Rates & Taxes, Levies and Refuse accounts. Little extra amount is surplus. My question is: Should I need to pay Tax on my monthly Rental Income?

I pay for my Groceries, Fruit & Veg, Rents, Electricity, Gas, Domestic Maid, School Fees, Kids Sports Fees, Transportation, Petrol, Bank Charges, Personal Loan (Absa) Credit Card Fees & Financial Charges, Telkom & Vo...

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What expenses can I deduct on my Forex earnings?

  Written by Alicia   Posted 13 July 2016

I am a full time employee, earning a salary every month. I recently started trading Forex and understand that the profits will be added onto my existing income for the year and taxed accordingly. I would like to know what kind of expenses can be deducted from tax that is paid on the profits for that year. Can I deduct my "office space", adsl / fibre internet (full monthly subscription), % of municipal bill, interest on bond, etc as all of these items are used to generate or assist in gen...

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According to SARS criteria, I dont need to sumit ITR12. But do I still submit IRP6 twice yearly?

  Written by Alicia   Posted 12 July 2016

I'm a provisional taxpayer. According to recent communications from SARS, I no longer need to submit ITR12 any more as I match all their criteria. My question is: Do I still need to submit the IRP6 twice yearly?

Will my refund be issued if I have old returns outstanding?

  Written by Alicia   Posted 12 July 2016

I have completed my income tax, and there is a refund owed to me. Will this be paid out if I have not done the assessments for the years 2011 and 2012. But I do not have any documentation from those years

SARS is verifying my assessment

  Written by Alicia   Posted 12 July 2016

Dear TaxTim. I have completed my Efiling early in July 2016 and shortly after were asked to supply supporting Documents which I did. Then a few days later Sars send me a correspondence reading: " Verification if Assessment" under the heading Completion Letter. What is suppose to happen now? Since then its been a few days but no refund or any news since ?

DO I GET MONEY BACK

  Written by Alicia   Posted 11 July 2016

How do I know if I get money back from SARS

Notice of assessment from SARS

  Written by Alicia   Posted 8 July 2016

I submitted my tax on the 1st July after which SARS requested my documents which I submitted the very same day. Then I received a notification stating my income tax has been assessed and SARS will issue a Notice of assessment. My question is how long does it take to receive the (updated) Notice of assessment from SARS.

Are IT3B's required in document verification for a refund?

  Written by Alicia   Posted 8 July 2016

My interest from local sources (4201) is less than the maximum annual limit allowed by SARS. I was selected for document verification. Do I need to submit my IT3B's for the document verification since this document doesn't affect my refund?

Removing previous tax practitioner

  Written by Alicia   Posted 7 July 2016

Previous tax practitioner was handling my tax from 2011. We have had a dispute on payments to them. They have closed my account and are not willing to do 2016 season. They are on my transfer list how do I get them off my SARS eFiling so you guys can access and complete the filing for me?

Tax refundable if worked for less than 6 months?

  Written by Alicia   Posted 6 July 2016

If my employment term was only for 5 months as stated on my IRP5, will I get my tax contribution back since its less than six month? Ive heard that you need to work a minimum of six months in one tax year to be taxable.

Proof of address for child

  Written by Alicia   Posted 6 July 2016

I need to get tax numbers for my 2 year old twins. Any idea what will be acceptable for proof of address since I have none of the listed documents with their name on. Thanks
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