Audit income statement

  Written by Marc   Posted 4 February 2016

The SARS auditor is asking for an income statement to explain why I have a lose of R16 000. This I assume was from my car travel expenses. Why are they asking me for this?

Is it an expense of must it be depreciated?

  Written by Marc   Posted 3 February 2016

I am quite confused and google doesn't help. I am a freelancer and I work from home. I have a dedicated office therefore I deduct my business expenses. I recently had to upgrade my computer network - my question is, is this an expense i. E. Do I deduct the amount I spent buying the computer, or do I have to do the depreciation calculation? Is there some monetary limit to make it easier to figure out when it is an expense and when the depreciation calculation must be applied?

Get tax up to date with SARS?

  Written by Marc   Posted 2 February 2016

I have not submitted my tax for one period and the next to come. I was fully employed and now freelance. I'd like to get my tax up to date the most affordable way. My partner moved back to SA over 10-15 years ago and has not worked all of that time - some of it only - and not yet done any tax returns. We'd like to sort this too.

Does receiving a car allowance when l have a car bought cash have impacts on my tax?

  Written by Evan   Posted 2 February 2016

I bought a car cash before getting my current job. I receive a car allowance at my current job and am not willing to change my car anytime soon. Is that an issue with SARS? Is that going to affect my tax, if so how?

Fringe benefit tax on fuel card

  Written by Nicci   Posted 1 February 2016

We receive a fuel benefit which is indicated as an income ( this in my mind will put me into the next bracket ). I am taxed on the higher income, then the very same amount that has been used for fuel is shown as a deduction. I don't understand this can you please explain. I don't see the benefit of a fuel card.

As the sole employee and director do I have to pay PAYE or can I pay provsional tax bi-annually?

  Written by Nicci   Posted 28 January 2016

I am an independent consultant. I have been operating since June 2015 and have been paying myself a salary and deducting PAYE
I have recently found out that I must be a provisional tax payer as well
Since I have started in June and have not deducted any expenses to arrive at my taxable income, it appears that with 2 months to go I have overpaid my tax significantly
from a cash flow perspective, I will only receive my refund around July/August
Am I able to not pay PAYE for the...

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Can my husband claim medical if the wife makes the payments?

  Written by Nicci   Posted 28 January 2016

I became a stay at home Mom as of 1 Dec 2015. I know money's transferable from hubby are not taxed. Can I still pay for things and my hubby claim for them? I have a disability and have two autistic sons. All three of us are registered as disabled with SARS.

How to measure kms

  Written by Nicci   Posted 28 January 2016

I dont have a travel allowance and use my private car for work. My company does reimburse me for work related travel. Question is from where do my km's get measured as some days I drive straight to site from my house and not via office. How does the calculation look and lastly how much should they pay me per km?

Confusion about claiming expenses

  Written by Marc   Posted 26 January 2016

I earn a monthly income on contract basis from a company, but I also freelance from home. Does this make me a provisional taxpayer and an individual taxpayer?
does this mean I can claim tax back from expenses such as petrol, cell phone and home office space?

Can I submit a tax return with both provisional tax and IRP5 information?

  Written by Marc   Posted 26 January 2016

Hi there! I am a freelancer and earn about R120 000 a year. Some of my clients pay me the exact amount I invoice them, but two of my big corporate clients deduct tax before paying me. Can I include all this information in my first provisional tax return?

Income TAX for temp job with total income under tax threshold

  Written by Marc   Posted 26 January 2016

Will be registering with SARS for income tax this coming week. Doing a temporary job for January and February. 1. The business owner is telling me that will deduct 25% from the amount agreed, although for the two months (Jan and Feb) the total amount will be below the annual tax free threshold (R73 650)
Is this correct?

2. Will I be able to recover all the TAX, which will be deducted, when I submit the tax return for 2016?
(the actual amount is R63K and my tax will be friken R15 750 in total!)...

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Full time employee who does after hours freelance work, should I register as a provisional tax payer

  Written by Marc   Posted 25 January 2016

I am a freelance web designer / developer. I work a normal 8 - 5 job during the day from which I get a monthly salary from my employer, I fall into the lower end of this tax bracket R377 451 - R528 000. On some months, I get side projects to work on and during the course of last year, the freelance business made approx R40000 (forty thousand rand) after expenses. I would like to find out if I should register as a provisional tax payer.

Do independent contractors working for US company have to pay South African tax.

  Written by Marc   Posted 25 January 2016

Awesome website you have, I currently reside in Cape Town and I am a South African resident, I recently quit my South African job in July 2015. I started working for a US company as an independent contractor as of 1 September 2015 until present. I also freelance on the side for a South African business, I work about 6-8 hours a day for the US company and on average 6 hours a week for the South African based business. I would like to know, what are the tax implications in my case for South Africa...

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Contractor tax registratiom

  Written by Marc   Posted 25 January 2016

I am a contract worker at my company. And I invoice the owner for my time and then get paid as per invoice. Can you please advise how to go about registering for tax.

Arbitration Award Taxation R100,000

  Written by Marc   Posted 21 January 2016

Arbitration Award of R100000, HOW MUCH MUST I BE TAXED?

Vehicle Finance - should I be noting my monthly vehicle installment on tax return

  Written by Marc   Posted 20 January 2016

Finance / Other Costs - Travel Allowance

Hello,

just to confirm the vehicle I current use for business travel is financed - would this be where I enter my monthly finance installment or is this not supposed to be noted on a tax return?

How will I benefit on tax as an Uber partner?

  Written by Marc   Posted 20 January 2016

Hi Tim I am a partner of Uber, ride sharing mobile app, owning my own car and working my own hours. Uber regard me as an independent contract driver. What would the tax implications be for me as an individual?

What will be the tax benefits as a company?

Independent contractor reference material

  Written by Marc   Posted 20 January 2016

As an independent contractor in the information technology sector can I claim reference and text books that I purchase from tax? - in many cases we in South Africa do not have access to some of the international training and this is one of the ways we keep our knowledge current and stay marketable.

Clarity on having 2 cars -company car vs car allownace

  Written by Marc   Posted 20 January 2016

I am a shareholder in a private company. I get a company car benefit of R800 000 to be used for 1 or 2 cars. I am for best way to structure package. My wife has a R200 000 car and I have a R400 000 car. I do very few business km and ride my private motorcycle to work mainly. I am thinking of switching my car to car allowance. I assume that if I switch then my wife's car is no longer a company car and there are no tax benefits/deductions allowed for her car? As far as I am aware you cannot have...

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Provisional tax expenses to claim

  Written by Marc   Posted 19 January 2016

As a provisional taxpayer, what expenses can I claim to reduce my tax. I travel to clients, can I claim my travelling, also I had to replace engine and clutch I this tax year, can I claim for these expenses and what portion would I get back from SARS

How can the tax directive be escalated?

  Written by Marc   Posted 19 January 2016

My fund administrator applied for my tax directive with SARS but it was rejected saying my tax number is invalid. I then phoned SARS and they confirmed all my details are correct but there is an error so their IT guys must look into it. I need my provident fund spy out. My problem is that they said it takes up to 21days,I need this money desperately. What can I do? Thank you Tim.

Tax rules for foreign income for SARS?

  Written by Marc   Posted 19 January 2016

Please advise the tax rules for working outside of SA? No income is earned in SA only abroad.

Exceeding 8000km for 3703 code

  Written by Marc   Posted 18 January 2016

Hi Tim. Each month, my payslip has indicated payment of non taxable reimbursement of travel expenses to me. Having exceeded the 8000km, should my tax return indicate the 8000km reimbursement as tax free (3203) and the excess as taxable (3702), or does the entire amount become taxable (3702).
My employer has put my full

My husband had to buy a car to use for business purposes, may he claim this from SARS?

  Written by Nicci   Posted 18 January 2016

My husband had to buy a car to use for business purposes, may he claim this from SARS? This was part of his employment contract with the company

How much do I set my travel allowance amount for this tax year?

  Written by Nicci   Posted 15 January 2016

I should be able to claim a travel allowance as I am consulted out to one or more clients on a permanent basis from my employer. However, I don't have a travel allowance on my payslip and I need on in order to claim. I can request for an allowance to be added, but it needs to be added as a matter of urgency to be part of this tax year. Question is how much do I set the amount to? Would it need to be 12x what the normal amount should be?
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