Can I add bond & registration fees to a rental
Written by Marc
Posted 25 November 2015
Rental - can I claim or declare bond registration fees and transfer fees on a rental
Medical tax credit change upon SARS review, can you help?
Written by Evan
Posted 25 November 2015
I calculated that since my wife and kids were on separate medical scheme and that I was contributing towards this I would be entitled to a refund, which appeared on SARS eFiling as such. However SARS subsequently requested my tax documentation and reversed the same credit that was in my favor to me now owing them?
Can you help with this?
Copy of completed tax return
Written by Marc
Posted 24 November 2015
Where/how do I see a copy of my completed tax return?
Want to know when SARS is paying my money; October has passed..
Written by Evan
Posted 24 November 2015
I already file via SARS was suppose to get my money in October even, now I don't know what happened to the payment...
How do I calculate Rental Income?
Written by Marc
Posted 24 November 2015
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?
Do we need to submit a tax return
Written by Marc
Posted 24 November 2015
I get about R2000 /month from my living anuity and R900 / month from an investment. I no longer own property and my medical aid is about R1200/ month. I sometimes get about R2000 / month doing odd jobs and I supplement my income with the proceeds of the sale of my house. Do I have to submit a tax return
My mother is 92 and gets R8000/ month from one investment also has medical aid. Does she have to submit a tax return. Thank you
Do you have my details on file so I can switch to TaxTim?
Written by Evan
Posted 24 November 2015
I notified my former tax consultant that I would no longer be using his services, and would be switching to TaxTim. Does that mean my paperwork has already been forwarded to TaxTim?
Primary residence definition
Written by Evan
Posted 24 November 2015
I was letting out my property and was renting in another suburb for 3 years before selling my property. Is that property still seen as my primary residence?
What amount of tax can a sole proprietor expect to pay, on profit of R105504 ,and salary of R281590?
Written by Evan
Posted 24 November 2015
I run a small business, a sole proprieter. Over the 2014/2015 tax year a earned an annual salary of R281590, I also realised a profit of R105504. According to my accountant, I need to pay R22408 in tax for the financial year. Is this correct, as it seems a bit much to me?
What is the base cost if the asset was acquired by a will?
Written by Evan
Posted 24 November 2015
The asset was acquired by a will, so I did not pay anything for it. How do you determine the base cost value.
Steps to obtain an ITA34
Written by Evan
Posted 24 November 2015
I am a sole proprietor and work for the last 4 months for my self. I take an income of R30 000.00. How do I get a ITa34 that the banks requested for a loan?
What is the amount that is medical contributions made only by me, not reflected in the IRP5?
Written by Evan
Posted 24 November 2015
On the tax return,there's a section that requires me to fill in any medical contributions made by myself that are not reflected on my IRP5/IT(a) however the total contributions are reflected on my IRP5 so am I supposed to deduct the employer's contributions from the total contributions to calculate contributions made solely by myself or is is another amount they're referring to?
Where do I enter funds received from a retirement plan?
Written by Evan
Posted 24 November 2015
Where do I enter funds received from a retirement plan?
What is the tax rate payable when withdrawing a portion of the provident fund money?
Written by Evan
Posted 24 November 2015
Have resigned (under 50 years old) and need some cash flow. I transferred the provident funds from employer to a preservation fund account. How much tax will I pay if I make a withdrawal of a portion of the funds?
SARS has issued correspondence
Written by Evan
Posted 24 November 2015
I got a response from SARS as follows:
SARS has issued correspondence for [name hidden] which requires your attention. To view this, kindly log into your SARS eFiling profile and either navigate to the respective Work Page or to the SARS Correspondence menu. For any queries please contact the SARS Contact Centre on 0800 00 SARS (7277) between 08:00 - 17:00 (excluding weekends and public holidays).
24h waiting period for registration on SARS efiling
Written by Evan
Posted 24 November 2015
I have done my registration on SARS SARS eFiling, but now when I log in a message appears that I have to wait 24h for SARS to process my application..... I've done that 5 days ago. Just want to now if I need to send anything away, thinking the delay is my fault?
Am I tax resident or not?
Written by Evan
Posted 24 November 2015
I moved from South Africa to work in Dubai in August 2014. I therefore was outside of South Africa for more than 183 days in 2015 tax year. From your previous answers, I identified that the income I earned while in Dubai will not be taxed in South Africa for 2015. However, does this mean that for 2015 tax year I am not considered a tax resident of South Africa or is it that I am still a tax resident but the income is not taxed? I will and work now in Dubai permanently.
Determining tax residency
Written by Evan
Posted 24 November 2015
In determining whether one is a tax resident, you use two criteria: one is born in SA, the other if one resides in SA or has formally emigrated. I am in doubt - I am born in SA, moved to Europe 20 years ago, renounced SA citizenship and now have just moved back (on a foreign passport).
What is the definition of 'formally emigrated' and how to determine my tax status?
Tax Deduction for Personal Vehicle
Written by Evan
Posted 24 November 2015
I am busy completing my Tax tax return with TaxTim, under the Tax Deduction section there is a wear and tear section. Can I depreciate the value of my personal car if I am still paying it off?
Cash co-payment on medical procedure
Written by Evan
Posted 24 November 2015
Two questions relating to medical aid expenses:
1) I paid ~R5000 cash copayment for a medical procedure. Can I claim this medical expense on my tax return?
2) If I have medical aid gap cover can I use the total premium payments for the year as additional medical expenditure?
Why must I go into SARS branch again - I was just there
Written by Evan
Posted 24 November 2015
I went to SARS on 13 November and got paid out on 18 November. Which is good work. I took my necessary documents, certified copy of my ID, proof of banking. Now today 24 November they phone me to tell me I must come in with the same documents to verify my banking. I was just there.
Is the cost per tax year or once off?
Written by Evan
Posted 24 November 2015
Is the once off fee of R249 per tax year or once off for more than 1 tax year submission?
Medical aid premium
Written by Evan
Posted 24 November 2015
Where on your website do I enter my medical aid premium? I paid it myself not through my employer. Your website only asks for expenses that I have incurred outside of my medical aid.
When am I getting the refund for late husband's deceased estate?
Written by Evan
Posted 24 November 2015
In August I submitted my late husband's IRP5 and I was told that I am going to receive R2100 for the year 2015. They told me that its still going for an audit.
What should I do because I am still waiting for that money. And when you call them you keep on holding until the airtime is finished without being helped. What do I need to do?
Latest date to complete registration for e-filing
Written by Evan
Posted 24 November 2015
What is the latest date to register for e-filing? I've submitted my documents to SARS on 20th November.
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