2014 correction - wait or submit along with 2015 now?

  Written by Evan   Posted 23 November 2015

If I need to make a correction on the 2014 tax year. Do I need to get that resolved before submitting my 2015 tax?

Do I complete my tax return if I started work in April 2015 earning R8000?

  Written by Evan   Posted 23 November 2015

I started working at my current company in April 2015 earning a gross of R8000, before I was earning R5800. Do I file for tax?

Refund not received yet

  Written by Evan   Posted 23 November 2015

Good day. Done my SARS E-filing. Got confirmation of a credit of a couple of hundred rands due to me. This was quite a few weeks back. I haven't recieved any refund yet. What should I do, wait a while longer?

Over the counter medication vs prescription medical claims

  Written by Evan   Posted 23 November 2015

Why can I not claim for over the counter medicines that I have to purchase and is then cheaper than going for a doctor's consultation and still pay for prescriptions?

Provisonal tax versus monthly tax

  Written by Marc   Posted 23 November 2015

I am currently an independent consultant and I know I currently qualify as a provisional tax payer. Is there a way of paying my tax monthly (as a normal employee) by myself without having to pay the two major payment twice a year?

Can you assist with complicated tax return, involving extra income, provisional tax etc?

  Written by Evan   Posted 23 November 2015

My situation is pretty complicated. I am a provisional tax payer. I earn extra income for 3 properties, but also from a side business. All goes through my own personal bank account, so it is personal tax all of it. I am fully employed, however I was retrenched in 2014 June. I have an income protector and claimed from it for 2 months, until I started work again in September 2014. I have retirement annuities, medical aid etc.

Am I able to use your services effectively and accurately in...

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Tax on Receiving Foreign Funds over R100 000

  Written by Evan   Posted 23 November 2015

My mother is moving to RSA and wants to transfer an amount of R250 000 into my account to 'hold' for her until she sets up her RSA bank account. The amount is in EUR. I spoke to SARS who claim that I can declare it as 'non-taxable income/gift' in my tax returns. I asked them to clarify donations tax but they insist, it will not be counted as a donation unless I file an IT144?

a) is this true; every person and website I have checked with refer to donations tax @ 20% (on amounts > R100 000) ...

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Independent contractors - which form?

  Written by Evan   Posted 23 November 2015

1- If a person is an independent contractor which form do they fill?

2- What happens if they have not been paying provisional tax, are there penalties?

Where do you include deductions in terms of a business as a sole proprietor?

  Written by Evan   Posted 23 November 2015

I know a medical practitioner who in addition to working at a hospital, started their own private medical operations in Jan. As a sole proprietor, I understand that the profit/loss should be included in their personal tax return.

Where on their tax return should they fill in deductions of expenses incurred in the production of income ito the practice?

Assets & Liabilities, I'm a member of a CC that is dormant, do I still need to account for that?

  Written by Evan   Posted 23 November 2015

Assets & Liabilities, I'm a member of a CC that is dormant. Do I still need to account for that?

Verification of income tax declaration

  Written by Evan   Posted 23 November 2015

I have submitted my tax returns and they called for my 2013 tax return which I did, they then called for verification of income tax declaration for the PAYE amount. I then went to SARS to submit my IRP5 from 2013 to show them proof of my PAYE amount. This isn't a real complex case all they need to verify is my PAYE amount.

How long will it take them to pay out my refund with regards to the above case?

Out of pocket medical expense of R3920. Will that help my refund?

  Written by Evan   Posted 23 November 2015

Out of pocket medical expense of R3920. Will that help my refund? I have no medical aid.

Tax on allowance for laptop?

  Written by Evan   Posted 23 November 2015

Is there tax on laptop allowance?

Nedbank IT3(b) - which figure do I use?

  Written by Evan   Posted 23 November 2015

Hi, on my Nedbank IT3(b) certificate they have 3 figures for interest (Interest, Net Amount Paid and Net Amount Accrued). Which one must I declare to SARS ?

Need IRP5 from insolvent employer?

  Written by Evan   Posted 23 November 2015

I want to get my IRP5 from previous employer for 2012 tax year, but that particular company has gone insolvent, so I have no way of getting relevant information for that period, What do I do?

Does the employer and employee both pay PAYE?

  Written by Evan   Posted 23 November 2015

Is PAYE deducted to both the employer and employee? In the books of the employer is it 2x like the UIF or any other contributions?

Why do I have to pay R199 ?

  Written by Evan   Posted 23 November 2015

Why must I pay R199 to make tax returns?

Business Expenses - categorisation

  Written by Evan   Posted 23 November 2015

When declaring tax for my business I'm finding it hard to fit my business expenses into one of the SARS categories.

My expenses for the web hosting business mostly revolve around renting servers and software. What category would that fall under?

Is Occupational Interest received declared as interest or as rental income on your tax return?

  Written by Evan   Posted 22 November 2015

Is Occupational Interest received declared as interest or as rental income on your tax return?

IRP 6 (3) - TOP UP TAX FORM

  Written by Marc   Posted 22 November 2015

Does your Provisional Tax Product include the  IRP 6 (3) which I understand is the form required for the 'top-up' tax?

No submission for three previous years

  Written by Evan   Posted 22 November 2015

What happens when you haven't submitted tax returns for more then 3 years?

Meaning of audit?

  Written by Evan   Posted 22 November 2015

What do they mean by saying I'm being selected for audit or verification?

What if my 180 days does not line up with a tax year? When do I submit the 180 days out of SA?

  Written by Evan   Posted 22 November 2015

If I work for more than 183 days outside SA, but my 12 consecutive months does not line up with a specific tax year. Say the last month fall in the next tax year, does it then mean that I will get tax back that I have paid the previous tax year for the days outside SA?

Out of pocket medical expenses deductions not showing on assessment

  Written by Evan   Posted 22 November 2015

I have completed my tax return via SARS eFiling and entered R10,200 rand worth of out of pocket medical expenses. When I click on "calculate" results I don't see any SARS reimbursements and the value SARS owes me doesn't change if I add and remove the out of pocket medical expense value. I don't see medical expenses on the calculated results on PDF it creates. Why is it being ignored?

Can financial derivative gains be declared on the ITR12

  Written by Evan   Posted 22 November 2015

I earned income using financial derivatives during the 2014/2015 tax year. I was not registered as a provisional tax payer. Can I declare my income on the ITR12 personal income tax return? If not, what steps do I need to take?
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