Provisional tax Period 1 query

  Written by Marc   Posted 22 August 2013

Hi. I am a provisional tax payer for the first time due to earning rental income greater than the threshold. I received (& was taxed on) a bonus from my employer in June this year. How do I treat the bonus payment on the provisional tax return (period 1)?
If I include it as part of taxable income, my tax payable is inflated as bonuses are taxed differently from normal income. Please advise.

Efiling status says "correction filed"

  Written by Marc   Posted 22 August 2013

Hi Tim,
I submitted my tax return. I submitted supporting documents. The status on efiling is - "Correction Filed".
Please can you advise what this means? How will I know when payment will be made to my account - what should the status be?

How to calculate Tax Refund if over 65 with a disabled dependent

  Written by Marc   Posted 22 August 2013

I am completing my father's Tax Return for him. He is over 65 and has a dependent, my brother, who is mentally disabled. I have indicated this as such on the return and can see from the calculation that the full medical amount listed is shown as a deduction from the taxable amount. What is confusing me is the only amount being reflected as a refund is the PAYE he paid on some shares that he cashed in and there is no additional refund for any of the mental disabilities. Am I understanding the med...

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Allowable vehicle expense deductions

  Written by Marc   Posted 21 August 2013

What vehicle related expenses can I claim as deductions? I am a property manager and rental agent and use my vehicle mainly for work purposes. I know that any expense incurred in the production of income can be deducted, so can the cost of my vehicle (repayments) be deducted?

What does a reduced assessment mean on your SARS?

  Written by Marc   Posted 21 August 2013

What does a reduced assessment mean on your SARS?

I wanted to know if my divorce settlement is taxed?

  Written by Marc   Posted 20 August 2013

Hi, I got divorced last year and I got 50% of his money since we were married in community of property. When I went to claim it I was told I had to pay tax on it, but I never got any paper document of the amount to be taxed, I only got the IT150 paper.

Are you able to calculate how much I might be getting / owing ?

  Written by Marc   Posted 20 August 2013

Hi Tim

Are you able to calculate how much I might be getting / owing from SARS?

Thanks

Difference between document verification and SARS audit

  Written by Marc   Posted 20 August 2013

Hi Tim, what is the difference between a document verification and an audit from SARS?

How to declare foreign salary on ITR12 form

  Written by Marc   Posted 19 August 2013

Hello Tim,

I earned a SA salary and lived in SA until September last year, afterwards I went back abroad/overseas to my home country and worked there. I already submitted my SARS ITR12 form and I did not mention my foreign earned salary income because it is already taxed abroad and I also could not find the section to add this amount on the ITR12 form. Now my ITR12 form is under verification and I have to submit all relevant forms. Does SARS need my foreign payment slips and do they need my foreign bank statement with the interests? I declared a few rands which I earned on my foreign bank account which is below the threshold...

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Need to know why I must pay in a lot of money

  Written by Marc   Posted 19 August 2013

Hi I submitted my tax return for 2012 and was told that I must pay R3400.00 subject to a audit. My docs were forwarded to the auditors. What does that mean please?

Medical aid in my name, but wife pays for it

  Written by Marc   Posted 19 August 2013

The medical is in my name, but my wife pays for it. Who gets the benefit of including it on your tax tax directive? Myself or my wife, since we both have different tax numbers. Thanks. We are married, outside community of property, anti-nuptual with accrual.

I was unemployed for 1 and half years. Can I still claim for medical expenses?

  Written by Marc   Posted 18 August 2013

I was unemployed for 1 and half years. Can I still claim for medical expenses?

Medical expenses deduction without medical aid

  Written by Marc   Posted 18 August 2013

Hi. I recently went to SARS and I got my refund back. However I also submitted medical receipts to the value of R3266. My total income was R13850. The amount I got back was R3463. I'm not on any medical aid. I pay cash. Do I not get back some of my medical expenses?

Can l get my IRP5 direct from SARS

  Written by Marc   Posted 17 August 2013

The company that l was working for closed and I am failing to get hold of the Accountant. Is it possible to get my 2010 IRP5 directly from SARS for e-filling purposes?

Selected for audit with travel allowance. How long to resolve?

  Written by Marc   Posted 16 August 2013

Hi Tim

This is a really helpful forum.

I have a query which I require advice on or a possible solution.
I completed my tax return on the 14 July 2013. In the prior year I received my refund in 2 days but this year I had been selected for verification and I submitted all the documents (logbook etc) and then few days later (23 July 2013) I get a notice letter from SARS saying I'm referred for audit (sad I know), so I waited and yesterday I had no response from SARS regards the referred for audit. ...

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Do interns that earn R1200 every two weeks have to get taxed 25% every time they get paid?

  Written by Marc   Posted 15 August 2013

Do interns that earn less than R3000 a month have to get taxed? And if an intern earns their money every two weeks do they have to get taxed 25% every time they get paid?

Online Admob income from a foreign source

  Written by Marc   Posted 14 August 2013

I am currently not a registered tax payer nor am I employed, I am however getting into smart phone programming and wanted to know my tax obligation when it comes to individuals who do this kind of thing in their spare time and not as a business operation.

Also - Google Admob (for smart phone app monetization) is in the U.S.A and payments are paid out when a limit of $100 have been reached. (This into bank accounts and not PayPal). At what time should I register as a tax payer and what...

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I need to submit my TaxTim tax return onto SARS eFiling

  Written by Marc   Posted 14 August 2013

Hi Tim

How do I copy or attach the tax return that TaxTim prepared for me to SARS efiling?

How do I check how much I owe or don't owe SARS?

  Written by Marc   Posted 14 August 2013

What can I bring if I want to check how much I owe or don't owe to SARS for tax?

Will I owe SARS?

  Written by Marc   Posted 14 August 2013

What's the possibility of me owing SARS? I'm working for a company for 6 years paying PAYE every month. I started with earning R5000 per month in 2007 now R11000 per month in 2013.

No medical aid, medical expenses paid out of pocket

  Written by Marc   Posted 14 August 2013

Hi,

I don't belong to a medical aid, so I had medical expenses to the value of R21473.34 (kept proof of payments). I had income of R75485, and PAYE deducted of R2144. A refund of only R2144 shows on my IT34. It seems as if the medical aid expenses was not taken into account at all. Please explain?

ITSA query "AVS banking"

  Written by Marc   Posted 13 August 2013

I registered & submitted my ITR12 & submitted documents which I did, I got a Letter of Completion. I requested an ITSA which was sent to me instantly, indicating the refund payable to and that I am NOT under audit nor verification. My status = AVS BANKING. What is next?

How to reflect transfer of Pension Fund to Retirement Annuity on ITR12?

  Written by Marc   Posted 13 August 2013

Hello, Within the last tax year I changed jobs and in doing so had to transfer my pension fund from my former employer to my Retirement Annuity as my new employer does not offer a pension fund. On my ITR12 issued on e-filing I can see this lump sum pension fund amount reflected on a separate page with a directive number. Also I received a certificate from my Retirement Annuity institute reflecting my contributions for the tax year and this included the lump sum the I transferred.

My ...

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What happens if you can't pay the SARS penalties but can pay half?

  Written by Marc   Posted 13 August 2013

What happens if you owe SARS and have been told you have to pay within 6 months but you can actually pay half of the required amount only? I have been told to pay R 800 per month but have been managing to pay only R 400 instead. This is a penalty for not submitting in 2011, the penalty was R 4800.

Tax refund

  Written by Marc   Posted 13 August 2013

I have registered to SARS so I want to know how will I get my tax refund?
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