Where to put things on tax return

  Written by Marc   Posted 16 November 2015

I worked for a company for two months last year and then worked for myself and invoiced out work. This means I have a IRP for the 2 months and then have to declare my income and expenditure on the balance of the year. When I populate the form I say yes to other income (trade). Where do I declare my expenses - such as computer, printing stationery, vehicle, medical, telephone, bank charges?

Do I qualify as a small business corporation?

  Written by Marc   Posted 16 November 2015

Hi Tim,
I am a photographer and I have my own company set up from which I invoice my clients. I am confused as to whether or not I qualify as a small business corporation due to the nature of my business? I did your online test and from what I can see "photography" does not fall into one of those categories - am I correct?
I have one full time, un related employee and not more than 80% of my income is from one person.

What will happen with the remaining

  Written by Marc   Posted 16 November 2015

I have submitted 4 IRP5's and each an every IRP5 has a tax refund but so far I have only received half of the amount what will happen with the remaining?

Is it better to buy or lease a vehicle for a commission earner?

  Written by Evan   Posted 16 November 2015

I am a real estate agent and require a vehicle to travel to appointments, etc. Would it be better to buy a vehicle (new or used) or lease a vehicle? My understanding is there are greater tax benefits in leasing (claim 100%) while buying a vehicle there is only a portion of the vehicle and interest you can claim. Is this correct? Which would you recommend?

Changing from tax consultant to TaxTim

  Written by Evan   Posted 16 November 2015

My tax returns was done by a tax consultant previously, can TaxTim help me even if I don't have his login details?

Travel Claim for independent contractor

  Written by Evan   Posted 16 November 2015

Firstly, thanks for this very informative site!

I am an independent contractor. I have used my vehicle for business use (without making a claim for re-imbursement) and have recorded this in a logbook. May I claim depreciation for my vehicle (under 4027)? Also where do I claim my business mileage travelled (code 4015 is greyed out)? And what value do put in as a claim? Is it the km multiplied by some rate? And what rate would that be?

I also have used my cell phone to make business calls and have ADSL which I use for doing work related activities. Where do I claim these amount?...

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Tax on Dividends received by Share Holder

  Written by Evan   Posted 15 November 2015

I have a EME Company registered for turnover tax. The profit is under R200 000, thus exempt from Dividend Tax. When I pay dividends to one of the two 50/50 share holders, must that share holder pay any tax on the dividends received, and can I pay all dividends to only one share holder?

Following the receipt of an ITA34 indicating the refundable amount, are there further steps needed?

  Written by Marc   Posted 15 November 2015

Following the submission of my tax return I received an ITA34 (on the 25th October) stating that a certain amount was refundable to me. I've yet to receive this amount. Is this the usual waiting period? Is there something else I need to do?

Primary residence that is jointly owned by my wife and I considered a partnership agreement?

  Written by Evan   Posted 15 November 2015

My wife and I sold our primary residence this year. The property was on both our names. One of the questions on the tax return is:

"Was the joint ownership described in a contractual partnership agreement?"

Does this apply?

1st assessment vs 2nd assessment SARS

  Written by Evan   Posted 15 November 2015

Dear Tim, could you please advise how can SARS owe me on my first assessment and ask for additional document and now on the additional assessment they have indicated that I owe them the same amount they owned me in the first assessment? How can I go about disputing this? Many thanks

Tax on irregular income

  Written by Evan   Posted 15 November 2015

I am a freelance consultant and I get money on an irregular basis. Am I eligible to pay tax, and how would that be calculated? Following is an example of my income in a year:

Jan = R0
Feb = R50 000 (this the a sum of all clients for Feb)
March = R100 000
April = R0
May = R5 000
etc

Directive outstanding

  Written by Evan   Posted 15 November 2015

Quit my job. Got a new one. Had my pension transferred to an Alexander Forbes preservation fund. The full amount is listed on my tax return as lump sum income. Completing my tax return, I am told by SARS - "Lump sum declared by directive outstanding". What now?

Can a spouse be a dependent?

  Written by Evan   Posted 15 November 2015

My wife stopped working in December last year to further her studies. I have been supporting her financially this year. Can I claim dependency deductions for her costs of living?

Cash donation received from Mom R96,000 to pay monthly debit orders

  Written by Evan   Posted 15 November 2015

I studied full time in 2014 and my Mom deposited R8,000 monthly into my bank account so that I could pay my debit orders. The total amount received from her was R96,000. I am now completing my tax return for tax year ending Feb 2015.

How do I disclose this cash donation? I do not have to pay her back so it is not a loan.

Sole prop lending money from owner

  Written by Evan   Posted 15 November 2015

We are running a sole prop from home. During bad months we find ourselves batting to get work. We have taken money from our own personal accounts to put into the business - R20 000 one month and R15 000 another month in the same tax year.

My question is, I have taken the R35 000 and added it in as income. We pay it back monthly until the loan is complete. Where do I declare the R35 000 as it was used solely for the business?

Thank you

Need help to reconcile my filing, not filed since 2013!

  Written by Evan   Posted 15 November 2015

I haven't filed since 2013, can you help me reconcile my outstanding filing?

Does a foreigner with a 5 year contract to work in SA need to file a tax return?

  Written by Evan   Posted 14 November 2015

If a taxpayer from Germany has a 5 year contract to work in South Africa for a South African employer (of an international company), would that taxpayer need to file a tax return? The employer registered the taxpayer for income tax and is deducting PAYE on a monthly basis. The taxpayer earns more than the threshold and will be tax returning to Germany after the contract.

Those who pay own medical - where do I input Medical Tax Credit (MTC) on efiling?

  Written by Evan   Posted 14 November 2015

If you pay your own medical aid (employer contributes nothing) and you wish to get your Medical Tax Credit (MTC) do you input the MTC on e-filing under code 4116? Or is that only for when an employer contributes. If not where do you put it or does SARs calculate it based on your medical deductions section?

Foreign service income exemption

  Written by Evan   Posted 13 November 2015

I was hoping to pick your big tax brain before I submit my tax return and cause chaos at SARS.... I qualify for S10(1)(o) in terms of foreign services rendered as I meet the requirements in this regard. My dilemma is I don't know which part of my income I can use to claim the applicable portion of this exemption i.e. Income (3601); Annual payment (3605) etc. To further complicate the situation I had share options exercised in the same tax year!

Would you mind confirming which source codes I can use in the claim?...

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Travel allowance offshore

  Written by Evan   Posted 13 November 2015

Is the offshore allowance for travel R3000 for 2015?

Whats a rate for R5000 salary p\m

  Written by Evan   Posted 13 November 2015

How much tax should I pay from a salary of R5000 per month?

Auto completion letter

  Written by Evan   Posted 13 November 2015

Hi Tax Tim. I received a email yesterday from SARS. The letter stated... Auto completion letter. Does this mean I can expect the money SARS owes me anytime soon?
Thanks

What should I take into account as "Financial Instruments listed"

  Written by Marc   Posted 13 November 2015

I am a director of a private company. On my ITR12, I am required to complete the SOLALA01 section but I am not sure what should be listed under "Financial Instruments Listed"

Daddys Deals voucher

  Written by Evan   Posted 13 November 2015

I bought a Daddys Deal of 50% discount. Where do I enter the code?

Incorrect medical expenses, can I correct my tax return that is already submitted?

  Written by Evan   Posted 13 November 2015

I calculated the incorrect amount for my medical expenses, but I see my tax return is already submitted. Can I still change the amount? And how do I upload my documentation?
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