Deductions Posts in Tax Q&A

Tax deduction for interest on personal debt?



Is interest on debt (credit card, loan, etc. ) tax deductible?

Code 3808, where can I complete i ton my tax return?



I have an amount reflecting on my return under code 3808 which is employee debt but this relates to income protection, previously we would have captured this same amount under code 4018 which is income protection insurance contributions but now this isn't found anywhere, is there somewhere else I can enter this or what do I do with the figure under 3808?

No logbook but partial spreadsheet, will SARS accept this?



I've lost my logbook but have compiled a spreadsheet containing most of the information and trips from memory and other sources. I have my km for the beginning and end of each month, but not for each trip separately. I need to submit my documents through to SARS for audit, but I'm not sure if this will be acceptable? Will they decline my travel claim?

How does a voice artist submit tax returns?



I'm a voice artist and I was employed as a freelancer I need your help to file my tax return as I was paid by many different companies. Please can I get some help on how to get started?

Can I claim the medical aid contirbutions I paid on behalf of my ex husband?



I have been paying medical aid for my ex husband, do I insert that as contributions made by myself, as I did not include this in my last submission?

Can I deduct salaries paid to my helpers from my sole proprietor income?



I am "unemployed" but make money with blogging. I have 5 bloggers/writers who help me but are not formally employed by me. I pay them every month. If I earned R150,000 and paid them all 40% of my earnings, would I then only be taxed on the remaining 60% I keep? Am I considered a sole proprietor and am I responsible for formally hiring them? The money I make is earned via an overseas source, not South African.

Can I claim if I only worked for 3 years?



Hi,I've only been working for almost three years which means ill only be claiming for two years and I'm a contractor can I still claim

IRP5 Form for new tax year, can I claim back the tax I paid now already?



I worked for a firm March to July 2016 as a temp and according to them I only need to submit my IRP5 Form next year 2017. They advised me that they will only process their IRP5's again next year 2017 and that the next tax season is 1 March 2016 to 28 February 2017 and I must submit in 2017. Is this correct. They took 25% tax off my salary as a temp for these 5 months and I need to claim these monies back.

Do I still need to file an ITR12?



As a provisional Taxpayer I have submitted Period 1 & 2 for IRP6 for 2016 but need to know if ITR12 should also be completed and also be submitted to SARS, please advise what this is for?

Would I be able to get my tax refund?



Good day,I was employed for 3 years,and I was dismissed last year february. So would I be able to get my tax fund? And I was supposed to get 40 000 from pension fund but I got 33 000 so I would like to know if I would be able to get my refund?

How do I declare the income earned from a group savings?



We have a group savings; we have received a tax certificate for it. How do we claim for it? As there are 3 signatories and in total there are 6 people contributing towards it?

Can i split the amount on the medical tax certificate?



My dad is retired, in November his medical aid stopped coming off his payslip, and he has to pay it out of his bank account. So my question is,On his IRP5 there is an amount under 4005 for medical aid deduction. But this is only till end October. So I want to know, do I put the rest of the medical aid amount that he paid out of his back account under 4040?

Can I get refunds on my bond repayments?



Can I get refunds on my bond repayments?

Bond repayments on a rental property



Rental income which I have declared. The bond repayments, is that part of expenses? What about the extra R1000 which I put towards the bond repayment? Where does this fall? I did not enter it at all. Please help

Tax paid for small business owner, PAYE and or Individuals tax?



Hi Tim, I am a small business owner, my company is registered, I have no other employees at the moment. Should I pay myself a salary so as to avoid withdrawing from the business account for personal use. Should I register for PAYE? Do I have to pay individuals tax too if I am registerd for PAYE? The business income is my only source of income?

Both employed and have a business run from home



Can I claim home office expenses if I run a business from home (at night) but I also work a regular 9-5. Also in this case can I claim Internet, cellphone, cleaning equipment?

Tax deduction for insurance on rental property



Can the excess I paid on an insurance claim be claimed as an expense on my rental property and are the proceeds from the insurance claim taxable?

How should joint rental income and expenses be split and declared?



My wife and I (married outside of community of property) jointly own a property (50/50). We rent this property out, and receive a rental income in doing so. The lease agreement with our tenant lists both myself and my wife as the lessors. The rental payment from the tenant is made into my own bank account, from where it is balanced into my wife and I's joint monthly household budget. There are also monthly expenses associated with leasing our property, such as maintenance, services, and bond int...

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How much tax must I pay annually if I'm a pensioner earning investment income only?



I am 70 years old. IEarn R180,000 interest lumpsum annualy. I have a wife without any income.

I've already filed a return can I resubmit through you?



I've already submitted my tax return for 2016, but have just discovered your website. Can I resubmit my tax return through you now for the same tax year?

Can i claim back the tax I paid while earning commission income?



I earned R50 000 commission for the year and paid R6000 tax, can I claim perhaps?

I then started a new job November last year, for which I have my IRP5.

Rental property - Repairs and maintenance/capital expenditure



An individual moves out of their primary residence on eg 12 March 2015 to rent it out and purchases (and pays) for a new oven on 17 March to replace the existing oven which is not working properly. The oven is purchased so that there is a working oven in the property when a tenant moves in. A tenant starts renting the property from 1 July 2015 (only from July 2015 and not sooner due to not being able to find a tenant sooner). The oven is installed on July 2015 when the tenant is renting the property...

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Income calculator if work 4 months in tax year



I worked 4 months in tax year and was given severance package will I get a refund or must I pay in as the sars directive indicates no tax payable

Do you get a refund on extra provident savings done at work



If you pay an extra amount on your provident fund at work,do u get money back like you would with an RA

Medical claim for dependent



If the wife pays medical aid and he is a dependent can she claim on her tax return the out of pocket expenses for him
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