Section 10(1)o - Any 12 month period

  Written by Alicia   Posted 4 April 2016

I started a job out of SA on 1 August 2014 and traveled regularly from SA to my place of work out of SA on rotation up until the end of the job on 29 February 2016. For the 12 month period 1 Aug 2014 - 31 July 2015 I exceeded the 183 and 60 day requirements. I therefore claimed my tax exemption on my 2015 tax return (for the income earned during Aug 2014 - Feb 2015). For the period 1 August 2015 to 29 February 2016 I exceeded the 60 day requirement but not the 183 days. However, if I calculate 1...

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Section 10(1)o - successive tax years and overlapping 12 month periods

  Written by Nicci   Posted 4 April 2016

Hi Tim,

When working successive years out of SA on a rotation basis (regular travel to and from SA) am I able to overlap my 12 month periods I use when calculating the days worked out of SA?

Section 10(1)o makes mention of the 183 and 60 day periods being part of any 12 month period which may start or end in the financial year in question. There is no mention of not using periods 'twice' ie If I do a 60 day period out of SA in June and July 2015 I could use this sti...

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Tax obligations for Bitcoin trading

  Written by Nicci   Posted 4 April 2016

I intend to purchase Bitcoin internationally and trade locally for ZAR. Do I need to factor in duties and VAT for the purchases, and if so how much will the duties be and I assume VAT will be 14%?

What is tax threshold for 68 year old?

  Written by Nicci   Posted 31 March 2016

I am 68 years of age and live off dividends which are taxed before I receive the money. I have a cottage attached to my house (which I own) which I rent out on short term rentals through Airbnb etc. How much do I have to earn per annum before I would have to pay tax on this added income?

Can't acquire irp5 from previous employer before emigration

  Written by Alicia   Posted 29 March 2016

My previous employer liquidated on 12 February this year & the liquidation hasn't been completed yet. I am scheduled to move to work in Dubai in mid April on a 3 year non binding contract and I am wondering what would be the best solution to file my tax returns for the 2016 tax year?

Just in case I am unable to acquire the liquidators details before I leave for Dubai? Or what can I do if the liquidator does not send me the IRP5?

Am I liable for paying tax on foreign monetary gift?

  Written by Nicci   Posted 29 March 2016

I have been receiving a monthly monetary gift from my ex boyfriend who lives and works in the USA. He is not a South African tax payer and I am. This money is for my living expenses since I resigned my job in SA on his insistence (he had proposed) however our relationship didn't work out and I am in SA without a job or an income.

Minor's tax obligations on inheritance

  Written by Nicci   Posted 29 March 2016

If a minor child inherits - how much do they have to earn before they must be registered for paying tax?
If they are not liable for tax, does one as the parent still have to notify SARS that they have funds invested?

UAE employment income received 2009 - 2015

  Written by Alicia   Posted 24 March 2016

I was employed by a UAE company from March 2008 to Sept 2015. I did not emigrate to UAE and always had the intention of tax returning to SA. I was never more than 30 days in total in SA when visiting family before I left for UAE again to continue employment. Will my employment income earned for this period be taxable in SA? Where do I include this on my tax returns when completing them for SARS?

Tax on donations

  Written by Marc   Posted 24 March 2016

My father has sold his house at a discounted price to my eldest sister and some of the proceeds of the sale will be split between the remaining siblings. What are the tax implications for my father and is there any way to minimize the taxes which will be levied on him?

Turnover tax enquiry

  Written by Nicci   Posted 24 March 2016

I wanted to enquire on rates for turnover tax for business.
i have small service based business.

What are the requirements and the dividend rules for if there is a after tax profit at end of year?

Are bond initiation fees, legal fees and valuation fees deductible for tax?

  Written by Nicci   Posted 23 March 2016

Hi, I have registered as a provisional tax payer and did my tax return in August. My rental expenses (levies, interest and taxes) are greater than my rental income I earn. Do I still need to file the provisional tax payer tax return now and see if any payments are due?

I have paid for your services for my personal income tax, but haven't received any of my tax information yet (for investments, medical aid etc). Must I just wait until those all come later in the year and send them thro...

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Tax for R250 000 provident fund on retirement?

  Written by Marc   Posted 23 March 2016

If for example I have R250 000 provident fund amount on my retirement,will it be taxed or not?

Do I pay tax in SA as a non-resident working in SA for a US university?

  Written by Nicci   Posted 22 March 2016

I am a US citizen living here in South Africa for about two years because of my spouse's work. The university I work for has graciously allowed me to continue working remotely for them while I am here. I work with computers on the internet. Recently, someone from my work has insisted that I needed to file for income tax in South Africa. I disagree, believing that my income source is not South African and that I am a non-resident for tax purposes. Is there some specific evidence I can use to back...

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It is aleady summarised

  Written by Marc   Posted 22 March 2016

Is south African interest exempted?

Estates Tax Liability on Dealth of Spouse

  Written by Marc   Posted 22 March 2016

My wife and I hold assets in terms of cash at bank and a single main residence. All assets are held in joint names. Should one spouse die can the assets be transferred to the surviving spouse without an estates tax liability. Alternatively is the liability calculated as 20% of the remainder of (50% of the combined assets - 3. 5M Rand tax exemption )

Taxation on foreign sourced pension

  Written by Nicci   Posted 21 March 2016

My wife and I are Irish and UK citizens respectively, currently living in the UK and are interested in the feasibility of retiring to South Africa. Our method of retirement would be either on a temporary retirement visa or as a person of independent financial means. I only mention this in case it impacts on my question. My particular interest is understanding how my UK pension income would be taxed in SA. My pension would be derived from a number of sources
1. UK State pension
2. Company pension. All pension is derived from activities not associated with South Africa...

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Tax on package and retirement cash withdrawal under the age of 50

  Written by Nicci   Posted 21 March 2016

I am 40 years old. I have taken the retrenchment package from my company, the amount of R307,000. I also want to withdraw my retirement fund of R714,000 as cash amount and invest in the bank. Can you please inform me what my tax will be on my retrenchment package and my retirement.

SARS, bitcoin wallets and disbursement of BTC funds

  Written by Nicci   Posted 21 March 2016

However, there are a number of issues that I cannot get to grips with regarding the storage of BTC in a wallet and the further use of BTC outside the fiat system:

1) If I moved my BTC to a wallet provider outside of SA (blockchain, based in Luxembourg but servicing globally) does SARS see this as an offshore transaction? as:
a) The wallet provider is not a registered global institution as such. b) No interest is accumulated to this wallet / amount, so no income is generated.
...

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Tax payable on gift from family abroad

  Written by Nicci   Posted 18 March 2016

What are the tax outcome to inherit R500,000. 00 from family abroad and tax outcome if I receive it as a gift?

Offshore 60 day trip

  Written by Marc   Posted 18 March 2016

I am South African and I work offshore. I know I have to work 183 days offshore in total, with 60 of these being continuous. Would a 60 day trip that falls over February and March 2016 be applicable for the 2016 tax year, or do I have to do another 60 day trip to be tax exempt?

Can a non-South African passport holder register for efiling?

  Written by Nicci   Posted 14 March 2016

Can a non-south African passport holder register for SARS eFiling?

Can SARS pay into a call account?

  Written by Nicci   Posted 14 March 2016

I am emigrating and have gone to SARS to change my banking details. The new account is a call account which I am using to transfer my money overseas. SARS have verified this account. (Bidvest Call Account). My friend said that as far as he know SARS will not pay into the call account when it comes time to paying. Is this true?

Medical practice tax return and deductions

  Written by Marc   Posted 14 March 2016

If you have a sole proprietorship, a medical practice that provides wound care for patients at home. There is only two employees. The owner (the nurse that does the wound care) and one person doing the financials and administration. The business is not registered, but the nurse has a practice number. How would you submit the tax return (as personal tax return/business?) and what deductions could you claim?

Amounts included in calculation annuity fund deduction

  Written by Marc   Posted 14 March 2016

I am retired and receive a monthly pension which is subject to tax. I make no contributions to a pension fund since I retired. I still contribute to a retirement annuity fund monthly. Do I include the total pension received together with investment tax returns for the year to determine the maximum amount allowed for annuity fund deduction

Which year do I declare CGT on property sale?

  Written by Nicci   Posted 11 March 2016

If the date of sale and the registration of that same property fall under two different tax years, which is the year applicable for submission of the tax return to SARS?
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