Donations Posts in Tax Q&A

Do I need to pay or declare income tax on donations received?



Hi Tim, I have started a small web design business with a turnover of just under R60 000 per year. I am struggling financially, so my father has been helping me with another R60 000 per year as a donation. I have read on the SARS website that as a sole trader if I earn less than R250 000 per year I do not have to register with SARS and I have no need to register for VAT. My question is, do I need to register with SARS for income tax as my income falls under the threshold without the donation or ...

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I need the applicable source code for contributions to a PBO?



I have donated money regularly to my Church and have obtained a receipt for those donations. The church is PBO reg number PBO 930004251.I need to claim the donations as a deductible and need to use the correct source code??
Appreciate your help :-)

Donation from brother, how is this taxed?



My wife's father died last year, and her brother was the only person in the will, so he inherited all the money. He decided to split the money with my wife and gave her R290 000, paid into her bank account. The brother did not submit an IT144. What does SARS want to see on my wife's ITR12 now when she submits in November. Also how much tax is due, and who must pay it?

How do I claim home expenses from a former work area in a rented flat that I lived in?



Hi TaxTim

I am trying to finish off filling out my tax form and came across the home expenses deduction.
With my former company I was working from my rented flat of which I had one room demarcated for work fitted with a desk, chair and fax/printer/copier machine.

I am confused currently as I am not renting that place anymore and not working for that company anymore and am not sure if I am entitled to claim and if so what can I claim. I paid R4600 for rent monthly and the space took up 20% of the whole area. ...

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Can I claim MPS as a state doctor if I do extra private work earning me additional income?



I work as a salaried doctor in the state. I also however do some work in private so I need MPS. Can I deduct this and the laptop I bought to do this work? Unrelated, I pay R3200 per month for my domestic worker. Any possibility of a tax deduction on this?

Can I claim travel expenses for unpaid charity work?



I work for a software company three days a week and on the other two days I provide unpaid help to various charities. Am I able to deduct the travelling expenses to and from the charity projects in my tax return?

Does "Gross salary" for PAYE include subsistence allowances, car allowances etc?



What components make up "Gross salary"? Would things like subsistence allowances (local) and car allowances be included?

IT3 certificates? Requirement to issue on loan accounts? CC or Pty?



Hi Does a close corporation or a (Pty) Ltd company that has paid interest on member or shareholder loan accounts have to issue any kind of IT3 certificates?

Does the receiver of a gift pay tax on the money?



My Dad gave me R60 000 to pay for my studies at a university in the UK. Do I need to pay tax on this gift?

If I make R1m and give 30% to charity, how much tax do I pay?



If you give more than 10% of your to income charity, do you pay both donation tax and income tax on the amount you gave to charity?

Church donations deductible?



Hi Tim,I make monthly donations to a church. How will I know if they are an NPO? Would I have received something if they were?Will these donations be tax deductible under code 4011?Your help would be much appreciated.RegardsJ

When should donations be included in the donee's gross income and taxed?



If father A gives child B (not a minor) a donation of R100,000, will that amount be included in child B's gross Income for the period? The same applies to person A donating R100,000 to Trust B, will the R100,000 be included in the Trusts gross income and therefore is it taxable as income?

Where do I put Donations on tax return?



Where do I enter the donation amount made? Does it get entered into the Deductions / Contribution section on the SARS efiling form?

Starting with tax



Hi Tim, We are two employers that works in a small company, and after one and a half years we found out that our employer did not pay or fill out the necessary documentation for our tax. We would like to sort this out ourselves as soon as possible - where do we start? Will there be any penalties? How can we work out what this will be? We both started working for the company after University. Personally I break even every month after medical aid contributions, student debt, rent etc. My co-worke...

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Which receipts to be submitted?



What type of invoices and documents are supposed to be submitted with IRP5?

Tax and overtime - refunds?



I would like you to explain to me why people who work overtime get so little refunds. Ever since I've worked in 2008, I've been getting 24c - 27c as my returns. I have a med aid and my tax certificate yearly shows thay I've paid more than 3 000 out of my pocket. If you can just explain as to why's is it like that, is there something I'm soing wrong?

What to hand in?



What else should I hand in to accompany my IRP5?

I have started working in July 2011 and tax is deducted in my salary. Will I get my tax money back?



As I was not supplied with the IRP5 and just got it this month. Will I get all my money back as this is the third year without claiming the money?

Claim back for giving to PBO?



What is the source code to claim on my tax return from giving to a public benefit organization?

What supporting documents must l add to my personal tax return?



I'm busy doing my personal income tax and don't know what documents I must submit example medical just know about my IRP5/ I'm in a medical fund so what must I declare will you please help me Tim?

What documentation do you have to carry with you when you go to SARS to do your tax returns?



What documentation do you need to submit your tax returns claim to SARS?

What is the limit for tax free donations?



Hi Tim

My girlfriend sold a house she inherited from her deceased mother and would like to split the income with her sister. The amount is approx R500 000, is there a way to transfer the money as a lump sum to her sister tax free?

An accountant advised us to "loan" her sister the whole amount and then to pay off the loan in lumps of R100 000 per year to avoid the 20% donations tax, but every year she needs to complete a declaration together with her tax form submission. Is ...

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Tax on cash donations to family, what do we pay?



My Dad wants to give each of the 3 children R 100 000 cash. How much tax is due and by who and when must it be paid to SARS.

Is my monthly tithe to my church an allowable deduction for tax purposes?



Is my monthly tithe to my church an allowable deduction for tax purposes?, if not what donations are allowable for tax purposes?

what are the three main sources of tax from which government obtains its income



Like does it include VAT, Income Tax, Normal TAX OR Companies tax
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