Written by Alicia
Posted 12 June 2024
I bought furniture for R 172 000 back in 2018 for my rental property. This was bought through the developer as part of a rental pool offering. Rental pool contract stating furniture costs, e-mail clarifications and proof of payment for this is in my possession but not the actual receipts or individual pricing for the items. According to the TaxTim depreciation calculator, I can claim around R 28 600 in 2022 tax year. My question is, can I claim this with the documentation in my possession and ca...
Written by Alicia
Posted 23 May 2024
I know that the interest on a bond is tax deductible in the case of an Airbnb.
I was wondering if the rental of a property is also tax deductible if you use the arbitrage Airbnb method, i.e. subletting a fixed-term rental as an Airbnb?
Another question, what if the property is not my own, I am renting it from someone and subletting it. Is the rental expense that I pay, a deductible expense of operating the Airbnb business?
I know you have tiers of packages. How much do you charge to do the income tax of individuals that include the rental income? ...
Written by Alicia
Posted 16 May 2024
Written by Alicia
Updated 14 May 2024
Written by Nicci
Posted 8 May 2024
Written by Nicci
Posted 30 April 2024
Written by Nicci
Posted 26 April 2024
Written by Nicci
Posted 24 April 2024
Written by Nicci
Posted 24 April 2024
Written by Nicci
Posted 23 April 2024
Written by Nicci
Posted 23 April 2024
Written by Nicci
Posted 23 April 2024
Written by Nicci
Posted 30 January 2024
I received a SARS assessment after submitting my tax return via TaxTim. During the submission, there was no payment to SARS expected. However I then received an assessment for a large (R2m) balance owed. At the time I assumed it was a mistake or a premature assessment before my documents had been processed, but I've now received an email from SARS stating Outstanding Debt. Please could you assist me with understanding the significant discrepancy between the TaxTim calculation and the SARS assess...
Written by Nicci
Updated 9 May 2022
Written by Nicci
Updated 9 May 2022
I have been working overseas and will be doing so for the whole of 2022 tax year making me provisional:
a. What average exchange rate will I use?
b. When is the first Provisional tax return due and, if necessary payable?
c. Can I deduct my overseas pension and medical from my gross income or is this only if I have a pension/RA and medical in South Africa?
d. I know that R1. 25 mil is exempt so how would I work out the tax on that as I know that I cannot claim all overseas tax...
Written by Nicci
Updated 9 May 2022
Written by Nicci
Updated 4 May 2022
I would like to find out whether I can claim antenatal multivitamins and non-script items as part of medical expenses not covered by medical aid? I have been buying these since the beginning of the year and I was just wondering if since I use them for medical purposes would I be able to claim them. Kindly assist as I am very much confused. I heard somewhere that one is able to claim medical expenses from SARS, but I am not sure which expenses can be claimed. I tried looking for the list of medic...
Written by Nicci
Updated 3 May 2022
Written by Nicci
Updated 3 May 2022
Written by Nicci
Updated 3 May 2022
Written by Nicci
Updated 28 April 2022
Written by Nicci
Updated 27 April 2022
Written by Nicci
Updated 27 April 2022
Written by Nicci
Updated 26 April 2022
Written by Nicci
Updated 26 April 2022