Is it necessary to register company for VAT

  Written by Marc   Posted 23 June 2015

I am in the prcess of starting my own company. The planned income per month will be 65 000 to 70 000 and payments around 35 000. A small company. Is it necessary to register for VAT or will I still be under the threshold?

What is my tax obligations when running a DVD rental store as sole proprietor?

  Written by Marc   Posted 23 June 2015

I am thinking about acquiring an established Dvd rental store and plan on running it as a sole proprietor and using my personal bank account for the business. This would be my only income and only business. * How would I calculate my "taxable-income" Ex. , (all amounts are monthly expenses) The total turnover would be roughly R15000 of which, R4000 goes toward purchasing films (stock), and R5000 would go toward renting the premises. I would also need to purchase printer ink, paper, stationary,...

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TAX ON BONUS

  Written by Marc   Posted 24 May 2015

IF MY SALARY IS R4500-00 IT IS BELOW THE TAX BRACKET SO WHEN I GET MY BONUS WHICH IS DOUBLE MY SALARY SHOULD IT BE TAXED?

How much rent is allowed before tax and when do we have to register only once the rent is paid?

  Written by Marc   Posted 24 May 2015

Hi Tim I have a student who is paying me rent in a 2 bedroom semi-detached. He started paying rent in February 2015 when do I have to register as a provisional taxpayer? Is it only once you've earned more than R30 000 for that year? Then I will have to register next year then in Feb 2016?

Non residents - do I need to submit a tax return on interest payments

  Written by Marc   Posted 17 May 2015

I am a non resident but earn a small amount of interest from a FNB non-resident bank account. Do I need to submit a tax return. Can I do it through TaxTim

How do rebates work?

  Written by Marc   Posted 17 May 2015

I have started a new job and have been told my salary will be R7000 a month, on top of this, they are saying that I am going to be taxed 18% per month. I am just a bit confused. . This seems very high for such a small salary. . . And then there comes the topic of rebates. I have been told that at the end of the tax year I can claim this back? But this is all going over my head, can you please confirm that the 18% a month tax is correct (i do not have any medical aid, retirement funds etc) and th...

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On a fix income of R4000 with no extra benifits what will the PAYE amount be?

  Written by Marc   Posted 17 May 2015

I think of starting a new business. My employees will receive a fix monthly income of R4000. What amount will I have to deduct from their payslip for PAYE?

Query on taxable Pension Fund Contributions?

  Written by Marc   Posted 17 May 2015

My company taxes my Total Cost to Company which includes my pension fund contributions paid over. Example: CTC: R15 000 Pension: 750 Medical Aid: 1348 UIF: 147. 80 Tax: 1592. 25 Less Tax Credit: 257 Net Salary: 10 904. 95 The full R15 000 is taxed, they list all of the above as company contributions. Is this correct?

Tax due on settlement

  Written by Marc   Posted 17 May 2015

I am due to receive R55000 settlement from my ex-employer following a CCMA award. How much tax will I pay and how much am I due to receive?

Tax fraud - I don't want to get into trouble with SARS!

  Written by Marc   Posted 17 May 2015

If my business is not registered and I am also not vat registered and my business generate a income of R70000. 00p/a. Am I liable for paying tax?

Will I pay 18% and 36% for lump sum of 542000. Or only 18% tax?

  Written by Marc   Posted 11 May 2015

On resignation from goverment. Will I be taxed 18% after 25000 and 36% if remainder exceed 393000 when my lump sum is 542000

Why being taxed on money that is less than R4000?

  Written by Marc   Posted 30 April 2015

I normally earn my salary first and be taxed from my salary,and after 2 weeks I then receive the bonus that is less than R4 000 and it is being taxed too,why is this happening?

Compensation of home based care worker - tax obligations?

  Written by Marc   Posted 30 April 2015

I would like to understand the tax obligations, if any, for the following scenario and hope you will be able to assist with such. I am disabled and had to employ the services of a home based care worker to assit in my daily living activities/requirements. (since Jan 2015) According to my understanding, such is not deemed to be a formal employment and thus would not be taxable (same as domestic workers), but I just want to make sure. Neither is UIF payable. Now for the tax question: The carewor...

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Provisional taxpayer - threshold?

  Written by Marc   Posted 21 April 2015

If I become a provisional tax payer, do I have to earn one million before that can happen?

Tax return - can I claim a refund?

  Written by Marc   Posted 21 April 2015

If I earn R4 000 per month can I claim for tax return tax

I would like to find out the total interest included in my taxable income?

  Written by Marc   Posted 6 April 2015

Hi, Please can you tell me if I am beneficiary of a trust under 65 years and my only income is local interest of 21500 and foreign interest of 2750 received from the trust how much will be the total interest included in my taxable income

Employee Tax on Part-time Employees

  Written by Marc   Posted 6 April 2015

I work less than 22 hours a week (part-time), and I am still a full-time student. I earn around R3000 a month, and will only be working till September. Do I have to pay tax? What is the 25% tax that my contract refers to? And UIF of 1%?

Tax on commission to SARS?

  Written by Marc   Posted 6 April 2015

Is there tax paid on the basic of R5000 and an added commission of R5000 which comes conditionally?

Am I liable for a tax return if I am only employed for 4 months?

  Written by Marc   Posted 17 March 2015

I am a housewife but am currently employed for the period of 4 months, earning R4000 pm. After this 4 month period I will be unemployed. My employer does not deduct PAYE. I have two questions about my situation. First, do I need to register as a tax payer and do a tax return?

Secondly, can I have my salary paid into a joint bank account that I share with my husband or will this implicate him on his tax return? Should I rather open up my own bank account?

I am just not sure...

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Turnover threshold for small business corporations

  Written by Marc   Posted 13 March 2015

What is the turnover threshold to qualify for the tax levied on different thresholds on small business corporations for 2015 and 2016

Do not have to submit my tax return as I thought I was below the bracket for 2010, 2011 and 2012 to

  Written by Marc   Posted 7 March 2015

Got a penalty for not submitting for 2010, 2011 and 2012. Taxable pay over threshold and did not submit. Believed it was under the "do not have to submit bracket" but do not know what it were for those year. Will submit now for all years and even my spouse will submit his 0 income. Please can you supply us with the "do not have to submit bracket" of those years. Want to challenge the penalties. Thank You

What is a REASON 02 for not charging/deducting tax?

  Written by Marc   Posted 7 March 2015

What is a REASON 02 - for not charging/deducting tax?

I would like to know how to complete a nil return via eFiling?

  Written by Marc   Posted 6 March 2015

I am doing some admin work from home and have been paying Provisional Tax for the last 3-4 years. Twice a year someone has been doing my tax return via eFiling for me. I realize now that I don't earn enough to even complete a tax return. To be on the safe side I want to complete a nil return but am not sure how to do it. I don't want to ask the same lady to do the nil return for me because she will charge me . I would like to know how to do it myself because it is now due.

Am I correct in what I propose doing?

  Written by Marc   Posted 2 March 2015

I have dual citizenship. I have resided in the UK for the last 5 years with my children. Income from living annuity is being limited to 3%. I plan to sell my shares over 8 years and remit the proceeds together with the annuity to cover my living expenses and then increase my annuity to cover future shortfalls on my living expenses. I am 75 years old. My intention is to keep my taxable income below the tax threshold. I pay 15% WHT on dividends. I earn no income from any other source in South Afr...

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Why am I being taxed on an amount lower than the tax earning threshold?

  Written by Marc   Posted 26 February 2015

If I earn R5500 am I suppose to be taxed and am a temp?
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