Latest Posts in Tax Q&A

How will I be taxed?



How much will I get if I'm earning R1000.00 and I'm being taxed 10%?

Why Register for an Income Tax Number



I earn R6000.00 a month. My employer told me that everybody has to register and have a tax number, regardless if you earn under the threshold and don't pay tax. What's the reason that we all have to register for an income tax number, is this correct?

Children receiving gift money



My brothers wish to gift my children money. Which I will be using on daily expenses and school fees. Will I be liable for tax for these incomes? Or will my brothers be liable for this? Is there a taxable limit? And are there any tax avoiding measures for single moms?

Claiming at SARS



My mom was working as a teacher at ABET school. May I go to SARS and claim her tax money?

Money gifted from an International Source



Can my mother, who lives in the UK, send my husband and I money, into his South African bank account- will we have to pay any tax on it in SA? It's one deposit of approximately 100,000.00 GB Pounds. And, the money is 100% UK bound income.

Forgot to Submit my Taxes for Previous Years



How do I sort out outstanding tax returns not submitted during previous years?

Medical expenses claimable without belonging to medical aid



SARS refuses to deduct my medical expenses (medical doctor prescriptions and formal medical procedures), if I didn't belong to any medical aid scheme. Just to add onto that, I paid all my medical costs myself.

Penalty Fees



I've recently had the misfortune of getting a tax penalty of over R16500.00 It was deducted from my provident fund without my knowledge. A further R7000.00 was deducted from the same provident fund pay out. Please advise me if I can dispute this after it has been deducted; if not I'm fine with it. However, I got a statement from SARS more than two weeks later referring to these penalties. I'm not sure what this statement means.

Tax for a Contractor working from home



We have a contractor that's working from home. He primarily does work for our company. How does tax work, do we need to submit an IRP5? We've been paying him directly without deducting any PAYE or TAX

Living in Namibia, but working for a company in SA.



I live in Namibia, but work for a South African company.
I'm a South African citizen. Under the new changes brought in with the budget, how will my tax work? I'm still working for the same company (I have been working for 7 years in total).

What does ITS mean?



What does an "Outstanding ITS Return" mean?

Foreign Income



I'm currently staying in South Africa. I receive income from foreigners, for hunting trips outside of SA borders. I'm usually out of the country for a week or two at a time. Is this income I'm earning taxable in SA?

Provident Fund Payout



I cashed out my Provident Fund when I left my previous employer, I was there for just under 2 years. I paid a higher tax as the first R25000.00 subject to the tax rule of: 18% of lump sum exceeding R25000.00
The financial services company explained that because several years ago I cashed out a portion of my provident fund historically, I don't qualify for the tax exclusion. Is this correct?

How to get a Tax Clearance Certificate



How do I get a tax clearance certificate for an individual?

Paying Tax: Age and Income Differences.



Does a 78 year old person who earns less than R100 000.00 per annum pay tax and how much.

Do I get Tax back on a loss from selling shares?



I bought shares in a private company (cost me 100k). We have now sold the company in full and my portion of the payout is 80k (i. e. 20k loss). Can I claim tax back on this amount? And if so, what do I need to do it?

Retirement Annuity Premiums




What happens if I haven't submitted a tax return?



Since voluntary sequestration and rehabilitation about 10 years ago I have not submitted a tax return, what will the effects be of this?

A notice of objection



SARS didn't accept my log books, my 2015 tax return, there's zero KMs for business use.
I now need to object and they require proof of ownership- I have documents from Wesbank. Lastly, can I do this via TaxTim or must I go into SARS?

Do stay at home moms need a tax number?



Hi I'm a stay at home mom with no income. I live in South Africa. Someone said I should get a tax number. Do I need a tax number? Will it be necessary in my future in case I divorce or am widowed or a senior? Shall I pursue it? How would it benefit me?

An example of a logbook printout



I need an example of what the TaxTim logbook would look like, when printed out.

How's Tax calculated on a monthly bonus?



I'm entitled to a monthly bonus. Our salary is split into salary (75%) and monthly bonus (25%). So my salary advice states salary and monthly bonus. How is tax calculated on a monthly bonus? How does it affect the tax calculation on the additional yearly bonus?

What's the exact deadline for annual Retirement Annuity (RA) contributions?



I make annual lump sum contributions to my RA. In order for my annual lump sum contribution to qualify for tax deductions for the current year, do I only need to make the payment for my RA before the end of February, or does my financial advisor need to have allocated the funds to my RA before the deadline? i.e. Can I still make a contribution at 23:59:59 on 28 February 2017 which will count towards the 2016/2017 tax year?

How to enter a severance payment in my provisional tax return?



I'm doing my provisional tax return and received a severance payments during the year as part of a voluntary retrenchment. My employer applied for a tax directive which was successful and I received the lump sum pay-out with the tax benefits associated on the sliding scale. How do I deal with this in my provisional tax return? If I enter the severance payment gross amount, the SARS eFiling system calculates taxes on it using the normal tax tables (it gets calculated at the highest marginal rate...

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Hospital Plan Rebates



Can I claim medical rebates if I'm on a hospital plan only and not a full medical aid? SARS directly advised me that I cannot.
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