I'm about to do my first tax return, I'm registered as Individual tax payer but have been doing freelance work on an invoice basis. I did not realise that in this case I would need to be registered as a provisional tax payer instead. Am I correct in saying that I should be registered as a provisional tax payer?
How do I proceed from here? - I should have done two IRP6's and made payments. - Then I should also do a ITR12, which is then only due in January 2016 What do I do regarding the outstanding IRP6's?...
I am a non working wife, married out of community of property. I am not working I am 55 years old I have just received R2 000 000. 00 and have invested it in the bank I receive monthly interest of R10 000 per month, this is my only income. Must I register to pay tax? What will the monthly tax amount be?
I earn a salary and have an IRP5. This year I have received a capital gain distribution from a trust of which I am a beneficiary of. A property was sold in the Trust and it was decided to split the capital gain between myself and my husband in equal shares. I am not sure how to deal with this on my tax return. I assume that I tick the box that says that a capital gain is applicable - it then asks me to put in the proceeds and base cost etc, but as I only received half the gain I am not too sure ...
In the 2015 tax season my employer paid me my full salary and did not subtract PAYE. This was the case for 3 months. I did not get an IRP5 for that period. I know that I need to pay that tax portion How do I declare that to SARS? And avoid becoming a provisional tax payer
My friend lives in Namibia - she recently moved there about 2 years ago. She earns income there and pays medical aid and pension contributions there. She still has a bank account in South Africa together with investments so she is earning interest yearly. Would she still have to submit a tax return? The interest she has earned showing on her IT3b from the bank is just under R900. Would appreciate your help with this? Thank you
I receive a bonus from my boss every year, but this bonus is not guaranteed, we only receive it if we reach our targets. For the past couple of years we have reached our target and have received the bonus and SARS has now made me a provisional tax payer. I have also just submitted my tax return and I received my statement of account and SARS has charged me a huge amount as penalty for under estimation of provisional tax. Why would this be?
Hi Tim, I am 68 years old, and employed full time. I receive a salary of R 20,000 per month before tax. I receive an annuity payment of ±R 650 per month and also receive dividends and interest (way below the allowable). I have been paying my bookkeeper ±R 1400 per year in fees for submitting my tax returns. With your system, I do it myself with e-filing? What does this cost (i. E. How much do I pay you)?
If you advise filing a tax return why do SARS say you shouldn't? I have been told by them not to.. I make minimal money at a very part time job. I do earn interest. I do have quite a few investments in my name too.
How do I calculate rental income? Is this calculated as follows or is it different? Rental Income = Bond Repayments - Rental income. If it is positive it will be a profit, if negative it will be a loss?
This year I received R400 from an INCOME TAX - IT3(b) from the medical aid as interest earned, this is the first time I receive it with an amount previously it will just be R0. 00. Do I need to include this amount in my tax return and if I do where do I put in?
During the past tax year, my husband and I (married out of community of property) bought a property together to rent out. We fixed it, but subsequently sold it for various reasons. Which section does this capital gains tax fall under? It's not under interest/investments and the questions under "business" confuse me... Thanks,
SARS says there is an outstanding amount from a RA in a 2012 Tax Return, because of this I have a very high penalty to pay. I can not find this documentation, even after I've requested it from my RA at the time. What do I do if the numbers don't add up, and I can't find this document.
I resigned my job to study. I have an income on an investment of - R7000 pa and I did some adhoc consulting for a company for which I earned R30000. My wife's tax adviser told me that I still need to submit a tax return as I have income from two different sources. He also said that I don't need to register as a provisional tax payer as I am not actively generating an income that will exceed the tax threshold. (I understand that should I consistently do more freelance work and if my income increases that in future I may have to register as a provisional tax payer. )...
I am not sure how to do my tax returns and though I have the SARS eFiling log in credentials I do not want to update my ITR12 form and end up having to pay back thousands of money that I do not have. I am afraid that I will have penalties involved and not sure how to go about it? Older posts →← Newer posts1234567891011121314151617181920