What is employee tax contribution code? What do I use if person earns below tax threshold?

  Written by Evan   Posted 3 July 2015

I am completing an IRP5 for someone earning below the tax threshold and I get this message from SARS eFiling:

Source codes 4101/4102/4115 must have a value

How to Claim for desk cost and how to submit my tax return?

  Written by Marc   Posted 2 July 2015

July 2014-Feb 2015 I was a recruitment consultant. I did not receive a salary, I simply paid a R5000 desk cost per month, which I believe I can claim back for. In the 8 months, I only earned 3 amounts, all adding up to approximately R40 000. How do I submit a tax return- I had no salary, I can claim for desk cost and flights, and I earned very little?

REIT treatment and provisional tax

  Written by Evan   Posted 2 July 2015

I received a REIT dividend source code 4238 on my unit trust IT3B it is very little only R30. Are Reits exempt? Also I read the ITR12 handbook and they suggest I put it under other income/accruals 4214 code with description "income from a REIT". Is this right?

I'm worried they will make me a provisional tax payer due to this extra and only R30 that dosent come from my employment income or local exempt dividends, interest. I dont really want the extra admin issues due to this small amo...

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Provisional tax threshold

  Written by Evan   Posted 2 July 2015

Good Morning,

My husband has recently started a business (in June 2015). It is his only source of income. When will he become liable to pay his personal provisional tax, and does he still need to pay if he is earning less than R5000.00 a month? Does he need to register as a provisional taxpayer already?

Thanks

RA contribution refunds

  Written by Evan   Posted 1 July 2015

I have done a calculation of my assessment. I was under the impression I will get all my RA contributions back as a refund but I did not. Is this correct? And my extra medical expenses, where do they go?

Sars Disablity and Threshold

  Written by Marc   Posted 30 June 2015

I earned R254000 for the 2014-2015 tax year. My son is "disabled" and I am able to claim for qualifying disability expenditure. I see now that you need not submit a return if you earn least than 350000 for the year, however, as I am to receive a refund due to my son's status I want to submit. Why is sars doing this? As to avoid paying refunds to us lower echelon tax payers?

Are we required to file a SARS tax return?

  Written by Marc   Posted 29 June 2015

If we are permanent residents in South Africa, and earn less than R 350,000/annum each as an employee and director of a Pty company do we need to file a tax refund ? We do not own the company . The company files and pays its taxes .

What is the taxable mount for an employee per month and per year?

  Written by Marc   Posted 25 June 2015

What is the amount that is taxable for an individual per year? If your total income for the just ended tax year was R121 418. Do you qualify for a tax refund if your tax was submitted on your behalf by your company?

What is the tax threshold for provident fund payouts?

  Written by Marc   Posted 23 June 2015

I had 2 lump sum payouts ,company shares and provident fund pay,and I was taxed on both occasions, plus I was taxed on PAYE. I'm a bit confused. What is the tax threshold on provident fund and the shares payouts? The total for the lump sum was R200 000

Am I due for a refund for the tax deducted from income less than the tax threshold?

  Written by Marc   Posted 23 June 2015

My annual income was R65 500 and total tax was roughly R4900. Am I due for a refund?

Do I need to pay tax if I earn less than 250000 per annum, and work on commission only

  Written by Marc   Posted 23 June 2015

I am an intern estate agent, only earn commission, no salary , and I get less than R250 000 per annum. Must I pay tax?

Can I claim medical expenses if I did not pay any tax ( 4102)

  Written by Marc   Posted 23 June 2015

On my IRP5, no tax was deducted during the year. I did work only part of the year, as I was very ill. My income per month is above the threshold, but the employer took it over a year. I do have a lot of medical expenses paid out of my pocket. Can I claim from SARS?

Do I have to submit a tax return

  Written by Marc   Posted 23 June 2015

Do I have to submit a tax return if I am making R108000 annually?

Fringe Benefits

  Written by Marc   Posted 23 June 2015

Hi
Question: Fringe benefit calculation query on the use of motor car. If a car has a maintenance plan per the definition in the 7th schedule but the plan is an optional extra do you include it in the determined value when calculating the taxable fringe benefit post March 2011?

Prior to March 2011 would you of included an optional maintenance plan in the determined value of a motor car?

First timer currently not registered with SARS

  Written by Marc   Posted 23 June 2015

I am permanently employed for 2 years and prior to that I was temping for the same company for 4 years. My salary is currently R7000 after med aid, tax and pension deductions. Do I need to register for tax and submit a return?

Help me to know if I qualify to pay tax?

  Written by Marc   Posted 23 June 2015

I am permanently employed and receive the basic salary of R2600. 00 p/m excluding overtime. Do I have to pay tax?

What Gross earnings/profit does the business have to earn before being laible for tax?

  Written by Marc   Posted 23 June 2015

What is the tax threshold for a business? What Gross earnings/profit does the business have to earn before being laible for tax?

Does pocket money count towards the R100,000 donations threshold?

  Written by Marc   Posted 23 June 2015

I am giving my son R100,000 and putting it into a fixed deposit account to save. I know this is the maximum donation I can give to him without me paying tax. If I also give him an allowance of R1500 per month for pocket money into his current account and this is obviously spent every month on necessities does this count towards the R100,000 allowance?

Do I need to submit tax return, back in 2013 if I earned well below the threshold?

  Written by Marc   Posted 23 June 2015

I've recently submitted my 2015 tax return with Tax Tim. After phoning SARS - they mentioned that my 2013 tax return was outstanding. I only worked for three months of that financial year and accrued an income of WELL BELOW the threshold. Do I need to submit this tax return? Will I get penalized?

Tax return filling requirements for non resident with SA bank interest income?

  Written by Marc   Posted 23 June 2015

Tim, I am (i) a foreign national (ii) non-resident in SA for tax purposes (physical presence test) and (iii) will likely spend more than 183 days in SA in the tax year 2015/16. My only SA source income is interest income from a bank, which is unlikely to exceed R40-50. 000. Do I need to register with SARS and file an income tax return for the tax year 2015/16 under those circumstances?

ITR12 threshold for Feb 15?

  Written by Marc   Posted 23 June 2015

At what earnings level is an individual required to submit an ITR12 for the February 2015 tax year?

Tax on Fixed Deposits

  Written by Marc   Posted 23 June 2015

I am currently saving for a house, so I am investing in a 3 month Fixed Deposit (I want to avoid equity risk for now). I earn approximately 6% pa. What is the limit of Interest Earn that is exempt from tax? If I change the investment term to 1 year, starting 01 June 2015, the investment matures on the 01 June 2016. Do I pay tax on these returns in the 2015 tax year?

Investing money at the bank and earning interest and the tax implications thereof?

  Written by Marc   Posted 23 June 2015

I want to set up an investment at the bank and earn interest on a monthly basis on it. I did some research and I found that I need to register for Provisional Tax at SARS in order to do this. I found out that 2-3 times per annum I would be required to make a payment to SARS on the interest I earn. My question is: Firstly, I would like to budget so I would like to know what percentage will SARS deduct monthly on my interest earned,and secondly,will they tax me monthly in this case or 2-3 times pe...

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Tax payment to SARS?

  Written by Marc   Posted 23 June 2015

I am employed by two companies and am paid R6000 from each one so I get a total of R12000 a month. My employers are now going to register me, with the salary each one pays me I will under the tax threshold, so they will not deduct any tax. Will I be liable to pay any tax?

Do I qualify for tax return if im ening R900.00 a week?

  Written by Marc   Posted 23 June 2015

Do I qualify for tax return if im ening R900. 00 a week?
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