PAYE vs Provisional Tax
Posted 7 March 2016
I have a permanent job which caters for roughly 65% (660k) of my total gross income the other 35% (335k) is obtained by a business I run. Should I apply for provision tax and should my company be paying PAYE for me or should I be paying two payments as a provisional tax payer? How do I go about this if it is the case?
Claiming VAT without invoices
Posted 2 March 2016
Can I claim vat using bank statements - invoices are missing.
How do I calculate my company annual turnover excluding vat?
Posted 2 March 2016
How do I calculate my company annual turnover excluding vat?
Are training courses and related travel expenses tax deductable?
Posted 1 March 2016
Hi Tim,
I am a provisional tax payer in the health sector- I am not salaried and work for myself. Am I able to claim back on fees for training courses and the travel costs(flights, car rental)?
Secondly, I occasionally rent out my flat and wondered if this money is declared regardless of the rent earned or if there is a minimum amount from which earnings should be declared. Thanks!
Which package do I select for your service?
Posted 1 March 2016
To use your service, I need to identify as either provisional or individual. I haven't yet registered as a provisional taxpayer on SARS (I'm meant to do that now), and have been earning income for about six months now, as a freelancer. If I want to use your service, do I select the provisional tax payer package, or do I have to officially register as a prov. Tax payer over SARS eFiling first?
First time freelance consultant from January 2016 - do I register for provisional tax?
Posted 1 March 2016
I just started as freelance consultant in Jan 2016. I am not sure how much I will earn as it all depends on if I get clients. Do I register for provisional tax? From reading your articles seem I fall in the 2nd payment what do I do? SARS assumes taxpayer will be able to pay upfront?
Sports coach PAYE
Posted 28 February 2016
A sports coach at a school is paid per hour but only earns around R3000 pm which would normally exclude paying any PAYE. Is this coach still eligible to pay 25% PAYE? This is an independent coach, only on contract for 5 months.
Questions on provisional tax
Posted 26 February 2016
A second provisional tax payment should be made end of Feb of each year. Why would SARS effectively require individuals to submit a tax return before the last day of the financial year (28 Feb) when business related expenses and income might still happen?
Apart from wanting to know why this implementation, I also want to know how does the differences gets eventually settled when you do still have income or expences after you have filed late in Feb?
Where should I declare my freelance income?
Posted 26 February 2016
I am an employee, but also a Sole Proprietor. I am an artist. My business is not officially registered yet, but I have been trading for some time now. Do I need to declare the income I earned through freelance work in the same ITR12 that contains the information I received from the IRP5 from my employer, or would I need to declare the freelance income in some other form?
What are taxable items?
Posted 26 February 2016
What are taxable items
Should I register for IRP6 or IRP3?
Posted 26 February 2016
I found two forms on the SARS site, IRP3 which states it's meant for freelance artists and IRP6 for provisional tax. I'm a freelance artist so should I fill in and resister for IRP6 or IRP3 or both?
Do I need to complete an IRP6?
Posted 26 February 2016
You sent me a reminder to file my IRP6 Provisional Tax Return for 2016 however, I'm not sure whether I am still a Provisional Tax payer?
I did freelance work until Feb 2015, and from March 2016 I've been employed, paying PAYE through my employer. I haven't earned any additional income. Do I still need to complete an IRP6 as a Provisional Tax payer?
Can invoicing several clients constitute a salary and not trade?
Posted 26 February 2016
I privately tutor pupils at their homes and invoice several clients for this service. One of them pays me a monthly salary (but pays nothing to SARS) based on monthly invoices and the rest I invoice by the hour. Can I declare all of this as a single salary and pay it with my ITR12 or do I need to register as a provisional taxpayer?
I changed from being employed (normal IRP5 scenario) to self-employed during the last financial year so I am not yet registered for provisional tax
Can I claim back my tax?
Posted 25 February 2016
I earn less than R180 000 per annum. I only just entered the work force, and taxes still confuse me. I'm an independent contractor (but get set salary each month), and therefore I pay 25% tax. However, our accountant assured me I can reclaim all the tax I paid. Granted, last yr I earned only R74 000, paying 25% tax, and I know I can reclaim that. Basically, will I be able to reclaim the tax I am paying this year, and what is the maximum annual income for which you can still reclaim your tax?
Tax for a contractor
Posted 25 February 2016
I'm on a contract for 6 months and I earn 12000. How much will be my take home amount? as I get paid different amounts monthly and its confusing
Company car versus personal car and travel allowance
Posted 23 February 2016
A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work.
What is the most beneficial method in terms of tax:
to buy a car in his own name, or to buy one in the company name and use it for business and personal (will be small personal use)?
Can I claim VAT input even though I haven't charged VAT output?
Posted 23 February 2016
My PTY(LTD) voluntarily registered for VAT, However I have not being charging vat on the supplies my company makes and have not issued valid tax invoices for the supplies made. Can I still claim the input VAT from expenses incurred even though I have not charged VAT on my taxable supplies?
Claiming travel expenses on a fixed cost basis without an travel allowance
Posted 22 February 2016
I am self employed and earn commissions and fees. Can I claim a travel expenses on a fixed cost basis even if I don't get an travel allowance?
Is my previous company suppose to apply for a tax directive on retrenchment?
Posted 19 February 2016
I was retrenched last year July (2015) Once I had received my notice and my retrenchment package I noticed that they had taxed me on my retrenchment package. I asked the Payroll/HR department if they had applied for a tax directive to which they replied that it was not necessary. I told them that as far as my understanding went it was necessary to determine how much tax I should pay if any.
Fuel Reimbursement
Posted 19 February 2016
What tax code must be used when a company reimburses fuel only and business km's exceeds 8000km per annum. There is no refunds for wear and tear, repairs and maintenance or insurance. At present the code on the IRP5 is 3702, is this correct?
SARS Payout
Posted 19 February 2016
I owed SARS money (Statement of Account Period: 2015/07/28 To 2016/01/28), I submitted a dispute, and the following is now showing. SARS Status: Please note that your tax return cannot be processed immediately due to an outstanding Tax Directive. Therefore, manual intervention is required. SARS will advise you as soon as your tax return has been assessed 2016/01/28. When I followed up this is the newest update:
NOTICE OF ASSESSMENT: REDUCED ASSESSMENT 2016/02/15. The amount stated here is a negative amount/ amount with a minus infront. Do they deducted this amount from the amount I owned them, or do they owe me this amount?...
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Tax question on medical aid and correction for SARS
Posted 19 February 2016
I've just got back and seen the email from SARS. I have a few questions. 1. I made a mistake on the foreign Income, as it was through the business and not my personal account. I was busy doing my business accounts while filling in my personal tax and got confused. 2. My medical aid was paid by my previous employer. They forgot to cancel my medical aid and have asked me to pay them back for that year. I received a tax certificate from my medical aid so do I still qualify to claim tax from that?
Treatment of rental loss and living expenses while studying
Posted 18 February 2016
From Sep '14 to Oct '15 I temporarily left the employ of my company to study my MBA full time overseas. During this time I rented my primary residence in South Africa out. (a) Am I able to deduct the losses on the rental of my primary property (rent - levies - interest on bond - rates) from my taxable income?
(b) During the time I was away, I had to make use of savings to pay for living expenses (food, necessities, partial travel expenses, but NOT tuition, textbooks, accommodation, vi...
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How does it work now if you just earn commission but tax and uif does not get deducted?
Posted 16 February 2016
Hi. I used to work for company that deducted tax from my salary, so I'm a registered. But now I work for a company that does not deduct tax and I only get commission. My question is how do I claim my tax for my medical aid if I don't receive a IRP5?
How does it work now if you just earn commission but tax and uif does not get deducted?
Chairperson tax explained
Posted 15 February 2016
Please explain the following to me:
1. The taxation of non-executive chairpersons of small companies earning a monthly amount in directors (Chairperson) fees. (They work full time earning a salary from a different Company. )
2. Should the non-executive chairperson be treated as an employee on the payroll of the small Company whilst working for another company or can it be treated through normal finance department transactions?
3. Should the normal statutory deductions like SDL an...
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