Is it the building size or stand size used for home office calculation?

  Written by Nicci   Posted 21 March 2016

I have a home office and I want to know in terms of the calculation for the percentage of the home being for the office is it the entire stand size of the property or just the building size?

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 number for checks

  Written by Marc   Posted 17 March 2016

I recently had to give my tax number to a rental agent/landlord for a lease application. Does this mean they could gain access to my tax records if they have my tax number?

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?

Tax clearance certificates

  Written by Nicci   Posted 11 March 2016

Do I need a tax clearance certificate if I go sailing out of South Africa for a few years? I do have a property in South Africa

What is the Income Tax Payable on a Rental Income of R8,000.00 a month from Feb 2016?

  Written by Nicci   Posted 11 March 2016

I am a 59 yr old Male earning an annuity of R19,000. 00 per month and and an Income of R8,000. 00 a month form the property rental.

Capital gains tax on primary residence

  Written by Nicci   Posted 9 March 2016

I want to proceed with Tax Tim to complete my tax return for 2015 as it seems I have a penalty of R 1215. My question is, my tax practitioner did not complete my last tax return and I have managed to gain control of my SARS eFiling and changed my status from a Provisional Tax Payer to Ordinary Tax Payer, do I submit my tax return as a Provisional or Personal Tax Payer. I did not work in 2015, sold my jointly owned property in JHB, moved to CT and bought another property from the proceeds. I have...

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Outstanding tax returns and arrears for commission earner

  Written by Nicci   Posted 9 March 2016

I have outstanding tax returns for 2012/2014/2015 and the subsequent penalties outstanding PLUS an arrears amount of just short of R20 000. I am registered for e-filing but find expenses I can claim for and their relevant codes very confusing so have saved the tax returns without any expenses claimed. I am a commission only earner in property sales and have IRP5's for the relevant periods. I have not kept a log book for petrol and kms but have slips for petrol, car expenses, data costs, client ...

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PAYE penalty calculation

  Written by Nicci   Posted 9 March 2016

How do I calculate interest on penalty for PAYE? the amount is R1,856.18 and it is 2 days late.

MInor - tax liabilities

  Written by Marc   Posted 8 March 2016

If I need to register my child (minor) for tax due to interest and or CGT earned from their investment - do I register them as a provisional tax payer or as an individual tax payer? If my child earns less than R 75,000 through interest/CGT do I still need to register them for tax even though they have no tax liability?

The pricing on your website for individual tax - would assume that this is per tax submission?

How much petrol and electricity expenses am I allowed to allocated from my business account

  Written by Marc   Posted 8 March 2016

If have a PTY ltd running a laser cutting business with 2 directors. Petrol and electricity usage is currently paid our of my business.

What deductions are allowable against the proceeds for CGT calculation?

  Written by Nicci   Posted 6 March 2016

I need to use the 20% of proceeds method to do my CGT calculation. What are the allowable deductions that I can deduct from the proceeds?

How to deal with long overdue tax returns

  Written by Nicci   Posted 3 March 2016

I am a B&B owner and have not submitted tax returns for about 6 years.. What should I do? I also had a job last year for extra income, how will this be treated by SARS as I am a sole proprietor.

IS IT COMPLUSORY TO PAY TAX ON INTEREST RECEIVED FROM A FIXED DEPOSIT

  Written by Marc   Posted 2 March 2016

I received my late husbands provident fund and invested it into a five year fixed deposit i receive r10 780 a month on the fixed deposit i am 44 years old and unemployed how much tax will i pay at the end of the year

Are training courses and related travel expenses tax deductable?

  Written by Marc   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!

Offshore investing tax implications

  Written by Marc   Posted 29 February 2016

What are the tax implications of investing in offshore unit trusts and shares and how does one disclose it in your tax return. Thank you

I need clarity on what is viewed as non-retirement income for purposes of the 27,5% calculation.

  Written by Nicci   Posted 29 February 2016

As pensioner, my annual pension amounts to R784 672, in addition I receive taxable interest of R18 000 and tax free interest of R115 200 as well as a consultation fee income of R100 000. I want to invest the maximum of 27,5% in a retirement annuity. How much can I annually invest in a retirement annuity?

How to handle Rental Income when married in community of property?

  Written by Nicci   Posted 28 February 2016

Hi, my wife and I are married in community of property. We own a few residential flats that we rent out for extra income. When it is time to complete our annual tax return and we each fill in details of extra Income on the tax return, must we EACH declare the FULL income from the rentals OR must we EACH split it in HALF and declare that OR must we say we are in 50% partnership on the form where it allows for that? In the tax return it does ask how we are married so does SARS automatically split ...

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Disclosing interest on the IRP6

  Written by Marc   Posted 26 February 2016

If a taxpayer earns 130,000 interest in the year, does he disclose the entire amount in the taxable income section of the IRP6 or just the portion of the interest income that is taxable. I,e 130,000 less R34500 exempt portoin. I see the form only deducts the primary rebate.

What are taxable items?

  Written by Marc   Posted 26 February 2016

What are taxable items

Can I deducted 2 years from my CGT.

  Written by Marc   Posted 25 February 2016

We just sold a flat that we owned for 10 years. We lived in it for 2 years but we've been letting it for the last 5 years. Do I need to pay CGT of the full 10 years of can I deduct some amount for tee 2 years that we lived in it and it was our primary residence?

Is there any capital gains tax reduction if I resided in the property for part of the time owned

  Written by Marc   Posted 25 February 2016

This year, 2016, I sold a flat which I bought at the end of 2011 and took transfer in February 2012. The flat was my permanent residence for 1 year. Will there be any reduction on capital gains tax as I was resident in the flat for 1 of the 4 years that I have owned it?

Tax deduction on provident fund

  Written by Nicci   Posted 25 February 2016

What will my payout be on the following for my provident fund when I resign. I am not retirement age yet ( 52 years old ). On resignation from the SATU provident fund you are taxed on the full employer share and interest earned on the member share. (not on the member contributions)
My member contributions amounted to R170,585. 44. My current statement shows member and Employer share:

Member share Employer share Total share
R706,779. 50 R689,136....

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Donations tax on member's interest

  Written by Nicci   Posted 25 February 2016

Must I pay donations tax if I donate 49% of my members interest in a CC?

Is interest income taxable?

  Written by Nicci   Posted 25 February 2016



I have a money market account. Is the interest taxable?
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