Open blocked account and merge 2 together

  Written by Marc   Posted 4 January 2016

Why does SARS close a new registered account after a few days?
Is it because we took to long to submit documents or is that normal. Why does it always says that your detail entered is incorrect. How can I merge the 2 accounts together which I have registered. I did not submit for 5 years and paying penalties but this must stop now. I need to submit today. Help

How to get a Tax Reference number from SARS

  Written by Marc   Posted 4 January 2016

I am a small employer of 5 people, all earning about R3000-00 pm. I have been told that all of my staff members need to submit to me their tax reference number. Is it correct that every person who has an ID number has already been issued a tax reference number by SARS? If this is the case what is the most effective way of getting the number. I have let my staff call SARS from my office on numerous ocasions to enquire without success. As I believe that there is a deadline for this looming immin...

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Returing to SA from Canada - Do I pay tax in SA on Canadian income ?

  Written by Marc   Posted 4 January 2016

I immigrated from SA in 1997 and lived in Canada since - also became a Canadian Citizen
Now tax returning to SA as a resident - lost SA citizenship
Leaving all my wealth in Canada and remaining a Canadian Citizen
My wealth is invest on the TSX
Will buy a home in SA and transfer money as I need it
I will continue to pay taxes in Canada
Do I have to register in SA as a tax payer and pay tax on my Canadian income?

When does AP34 apply?

  Written by Marc   Posted 24 December 2015

What is an AP34? and why does one get penalised

How does RSA Tax work if I am earning abroad

  Written by Marc   Posted 23 December 2015

I am currently a teacher in Vietnam, I have been here since July 2015, and have been earning foreign currency. I am about to start transferring money into my RSA account for some debit orders. I would like to find out- how does my tax work if I am earning abroad? I do not want to be penalized in any way. I am a registered tax user and I have enjoyed tax returns every year since 2012.

How can you claim a late person's tax money?

  Written by Marc   Posted 12 December 2015

My father passed away last year and he didn't claim his tax money, so I want to know how can we claim his tax money?

Jointly owned rental property and non-mortgage interest.

  Written by Marc   Posted 11 December 2015

A rental property is jointly owned by two individuals. There is no registered bond over the property, however each part owner has contributed funds to purchase the property. Can a loan be created and interest charged on this loan to each of the owners and a corresponding interest deduction against the rental be claimed?

IT3b on loan accounts for tax purposes?

  Written by Marc   Posted 10 December 2015

If you earn interest on loan accounts from your company and the company do not issue IT3b from the company what do you use as supporting docs for interest income?

Can I still query my statement of assessment after the tax returns deadline?

  Written by Marc   Posted 10 December 2015

I completed my first tax return via SARS eFiling early November (I have only been working for two years). After the SARS eFiling deadline, I checked to see my statement of assessment, and found it be by -20 cents. I am not sure if I filed correctly, but I was expecting a larger tax return. Is it too late for me to re-submit or correct my tax return, even though I initially completed it before the tax deadline?

Late submission of supporting documents

  Written by Marc   Posted 8 December 2015

I submitted a tax return on SARS eFiling. A letter requesting supporting docs was issued but I neglected to upload within specified time. An additional letter was issued 21 days later, when our practice was closed for the December holidays. Once the additional assessment was issued I only realised that the documents were never submitted. I uploaded the documents on the open link. The Sole Proprietor's expenses was denied against his income and now has a massive tax debt. During the year I submit...

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How do I submit a late IRP5 for a previous tax year on SARS eFiling?

  Written by Marc   Posted 4 December 2015

I have submitted my tax return for this year but have been told they won't pay out until I submit my outstanding tax returns from last year (fair enough). I wasn't earning a salary for most of last year but I believe I still need to submit the IRP5 which covers the last month of my employment with my previous company from that year. I got hold of my previous company and they sent through the form really quickly but I can't figure out how to submit for a previous year on SARS eFiling. The SARS he...

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When was the cut off date for filing tax returns?

  Written by Marc   Posted 4 December 2015

When was it closed?

I'm due for a refund but still owe SARS...

  Written by Marc   Posted 4 December 2015

I'm due for a refund but there's a 'hold-up' as I owe SARS something from 2009. I'm not sure what to do fro this point forward - where or how do I find out what is owed - how can SARS be owing me when I owe them - why weren't there red flags or bold flashing print popping up when I completed my annual tax returns?
It's like they're hiding the fact that I owe them and I've now probably encured some hefty penalties and interest... ;(

What do I do?

Closing date ITR12

  Written by Marc   Posted 2 December 2015

What is the closing date for submitting the ITR12's

Loan to Company to purchase goods

  Written by Marc   Posted 2 December 2015

I have a EME business and from time to time I use my private bank account to purchase items for orders I receive. When I then get paid by the customer I just transfer the money I loaned to the Business beck to my private account. Is that acceptable to SARS and what records must I keep?

Will I be penalized for not filling in a tax return for last year and this current year

  Written by Marc   Posted 1 December 2015

I have been working for 2 years now, I started 3 December 2013 and I never filled in a tax return before. I only became a permanent employee 1 April 2015 and only then started contributing towards a medical aid and pension fund. I have missed the 27/11/2015 tax return deadline. I am not sure how this whole process works. Will I be penalized for not filling in a tax return for last year and this current year. I will be more than happy to pay for your services. Regards

Tax on Loans

  Written by Marc   Posted 1 December 2015

If my brother gave me an interest free open-ended loan - what would the tax implications be?

Investment income whilst being in the UK

  Written by Marc   Posted 1 December 2015

I earn R3000 per month from an investment and this is my sole income. I invested in July 2015. I have been in the UK since July so might be classed as a non permanent resident for tax. While in the UK I have not earned any income and if I have in the past I have paid UK tax. Do I need to file a tax return for this year and get an ITb3 certificate from the bank

Can I get my refund even if I submitted my returns late?

  Written by Marc   Posted 1 December 2015

I submitted my tax returns late and the tax calculator showed that I have a refund. Will I still get the refund even when I submitted late?

Does Base Cost include interest over time?

  Written by Marc   Posted 1 December 2015

I am selling a rental house. Will the interest on my bond over the period of ownership be part of the base cost?

Move from a Tax Consultant

  Written by Marc   Posted 30 November 2015

I am at present using a tax consultant. How do I transfer to doing my own tax return with the help of Tax Tim?

They have all my records etc.

Tax on Rental Income

  Written by Marc   Posted 30 November 2015

Dear Sir/Madam

I am South African, but living and working in Kuwait. Back in Durban I own 2 properties which are rented out to tenants. Property 1 - rental income is R6200. 00 pm, monthly bond is R3500. 00, rates is R1600, monthly levy is R850. 00. Property 2 - rental income is R4500. 00, bond is R3550. 00 pm, rates is R350. 00, Levy is R700. 00. I have no other source of income in SA. Do I pay tax to SARS?

I was a registered tax payer whilst I worked in SA. But no longer....

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Declaring Income on IB3 (b)

  Written by Marc   Posted 28 November 2015

I HAVE A ITB3 (b) document/certificate from Nedbank for Income from Investments, Property Rights and Royalties. Where do I need to declare the interest? What source code?

Can I register now as provincial for 2015.

  Written by Marc   Posted 27 November 2015

Can I register now as a provincial tax payer and file now for 2015?

Provisional Tax interest

  Written by Marc   Posted 27 November 2015

I am a provisional taxpayer and I am only submitting 2014-2015 now, I am trying to calculate my penalties but I do not have the figure for the provisional tax amount?
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