Written by Marc
Posted 11 November 2014
Is there any distinct financial advantage to paying for my medical aid on my own (therefore not involving my employer at all), rather than opting for my employer to contribute a portion (which would form part of my total cost to company)?
In both instances, the Total Cost to Company would stay the same - I understand that the contribution from the employer does not get deducted from the income earned and thus the tax on income earned stays the same, apart from the tax credit for independents. If this is correct, it would seem that the only benefits would be that the employee receives monthly tax credits rather than once per year. ...
Written by Marc
Posted 10 November 2014
Written by Marc
Posted 10 November 2014
Written by Marc
Posted 10 November 2014
Written by Marc
Posted 10 November 2014
Written by Marc
Posted 10 November 2014
Written by Marc
Posted 9 November 2014
Written by Marc
Posted 9 November 2014
Written by Marc
Posted 8 November 2014
Written by Marc
Posted 7 November 2014
Written by Marc
Posted 7 November 2014
Written by Marc
Posted 6 November 2014
Hi Tim. I have a major dispute going on with SARS as efiling didn't show that my return for 2007 was done manually. Being a new efiling user I was still learning the process. How can SARS be so inhumane when they have clearly made this service available to the common person and then charge us thousands for making a human error by clicking a wrong button. I submitted a return in error that should never have been submitted from 7 years ago (a year they rightfully refunded me I might add)... S...
Written by Marc
Posted 6 November 2014
Written by Marc
Posted 5 November 2014
I am an independent contractor operating out of a home office, and earned commission during the year from two sources, however only one of them deducted PAYE. That IRP5 is reflected on eFiling, however there is no section on the ITR12 to declare the second source of commission income. If I select the trade section of the ITR12 then I get a whole income statement to complete; if I do this must I include the IRP5 income as well? Also must I include all my expenses here or rather in the standard de...
Written by Marc
Posted 5 November 2014
My employer requires me to maintain a home office/ study as they do not provide me with an office. Unfortunately I live in a two bed roomed apartment and I did not want to convert the spare bedroom into an office. I managed to rent a granny flat from my in-laws and converted this into a fully fledged office. I pay a monthly rental to them for the use of the office.
The majority of my income is from commission (more than 75%).
Can I deduct the rent paid to my in-laws for my office agai...
Written by Marc
Posted 5 November 2014
Written by Marc
Posted 5 November 2014
Written by Marc
Posted 4 November 2014
Written by Marc
Posted 4 November 2014
Hi Tim
My husband has started at a new company as a sales exec. He gets company petrol as a benefit and they've issued him with a company petrol card. However now I've noticed that they are adding the petrol useage to his earnings i.e. if his basic is R5000 they are adding R4000 petrol (varies every month) and then taxing him on R9000 gross instead of taxing him on R5000. They then deduct the R5000 off again but he's paying a lot of tax every month because of them adding in the petrol...
Written by Marc
Posted 4 November 2014
Written by Marc
Posted 4 November 2014
Written by Marc
Posted 4 November 2014
We have a Company based in South-Africa but all the work (professional engineering services) we do is for a Company Based in Tanzania. At the end of each service provided to this company we Invoice them and when they pay us they deduct 15% Withholding tax. Each year we receive Withholding Tax Certificates from this Company which we then submit to SARS when our accountant does the Company Tax Return via e-filing. The Withholding Tax Certificates we submitted to SARS this year was for the value ...
Written by Marc
Posted 3 November 2014
Written by Marc
Posted 3 November 2014
I have a daughter who is deaf she has finished Matric at a school for the deaf she now attends a normal colledge because there are no specialised colledges for deaf students.
I understand that I cannot claim for her fees because it is a College however I did put in a claim in 2014 for travelling because she cannot use public transport to commute to college because of her lack of communication and hearing, but my claim was rejected.
I see the tax act uses the word Specialised School but makes no mention for college or university ...
Written by Marc
Posted 3 November 2014
Any idea on what is happening with income tax returns this year?? I have submitted my return early July, only to find out that I am being "audited". I have done the documents needed twice, had to do a dispute, got a return that the objection was allowed, and have subsequently been waiting for my refund since the 3rd of September. I have been phoning the call centre twice a week since then, and have had just as many different responses from them as to what is happening on my return! The answer ...
