We have entered into 20 cellphone contracts with a service provider this month. We will be giving our staff members employer owned handsets to use for work purposes ie business calls, work emails. These will come with R100 airtime, 300MB of data, 25 sms per month. We will be paying R280 per phone pm.
Please advise on whether this fringe benefit is fully taxable. Someone from SARS just told me that it is but I don't believe him.
My Statement of account says I'm being audited. I have already submitted support documents for depreciation a day after my return. A week later I received my statement of account and it says that I'll be refunded, but also says yes under audit and verification. What happens from here on?
Hi Tax TimI get paid a basic and commission each quarter of the year. I pay for my own petrol and car expenses and I am looking to claim all of this back from SARS at the end of the year. I have been keeping a log book and I would liek to know the percentage of my expenses that I cna claim back if I rarely use my car for private use. What percentage will I be able to claim back from my business expenses on my car. Can I also claim for my cars depreciation? And again what is the percentage for th...
I am the sole director of a company. I travel extensively for business using my personal vehicle. My question is do I deduct vehicle expenses such as petrol, insurance, services etc.. through the company, or do I rather take these deductions into account in submitting my personal tax return?
I started a sole proprietor hairdressing business on 01 March, I started to purchase stock and had some upgrades done to a rental property during Feb. Can I claim a deduction for the chairs and sinks, I purchased as well as the repairs to the deck. I am renting a small property because my home is not large enough for the business
I work full time as an employee. Part time I do multi-level network marketing. What should I track for tax deductions and how does it fit in with my full time employment. Electronic equipment? Office? Car ? Gifts, product expenses. What is allowed and not allowed.
i use my private car daily for business - driving to and from client meetings. I do not receive a formal travel allowance or claim for petrol. Is there a way for me to claim depreciation or a tax benefit when I submit my tax return? if so where on the return do I do this
I am a commission earning employee without a travel allowance - am I able to claim depreciation on my vehicle due to the fact that I use my vehicle daily for work purposes ( driving to and from clients ) under section 4027 ?
I am a 100% commission earner and was requested by SARS to to forward a schedule of depreciation for my vehicle depreciation claim, I forwarded my calculation formula : purchase price/5 years * 10 months, I only bought the vehicle in May 2013. The schedule was however not accepted due to insufficient info, please advise what other information needs to be on the schedule of depreciation.
I am unemployed and would like to start a small business. I am planing to open a business bank account under (CT Plumbing). Sole Priority. 1.) Do I have to get a new tax number from SARS for this business or can I use my tax number when I was still working for a company? 2.) If so how many tax numbers should I have? for example one for my business and one for me?
I am employed and earn a regular salary from my employer. BUT I also run a small business (just me as Sole Prop) on the side. (I help people with Web development and design work)How does tax work in my case? Do I need to put away a percentage of each transanction and pay it manually each year or how does it work? I don't want to get into any trouble with the tax man :-)