Can use of vehicle be classified as fringe benefit

Posted 5 November 2015

Directors purchase 2 luxury motor vehicles on company name. But the installments are being paid off the directors loan account. SARS raises an assessment on the directors personal capacity stating understated PAYE. Can SARS do this? Can an objection be raised?

I want the amount of UIF I must pay if I earn R65 000 Basic Salary and R15 000 car allowance?

Posted 5 November 2015

Hi Tim, I female single mother of one and earn basic salary of R65 000 and car allowance of R15 000. 00. What should my UIF contribution be? What is my tax deduction be?

How do I treat travel costs that are reimbursed to me after I have paid for them?

Posted 4 November 2015

I am a consultant who travels. My company then reimburses me for my travel costs. How do I treat this in my tax return?

Duplicate expenditure for both employment and freelance monies earned

Posted 4 November 2015

I am permanently employed and work from home. I also have a freelance business that I run after business hours, using the same equipment (laptop, printer, office furniture) and space that I use working for my permanent employer. I have noticed that under the "Tax Deductions" and "Business and Rental Income" sections that there are duplicate questions regarding depreciation, travel costs, lease and electricity expenditure used during earning my monies. Do I complete both sections with the same in...

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Travel Allowance & Company Provided Vehicle

Posted 4 November 2015

Please advise if you are able to claim if you receive a travel allowance and use a company provided vehicle during the day to visit clients?

How to fully claim against code 3703

Posted 3 November 2015

How does the IRP5 code 3703 work in conjunction with the 8000km per year travel limit

Travel allowance - deemed vs actual cost for commission earner

Posted 3 November 2015

I am a SARS commission earner. I would like to claim back the use of my vehicle to earn commission. I have a detailed logbook. Where and how do I claim these expenses? According to the TaxTim wear and tear calculator, I should use deemed cost, however I never received a travel allowance on my IRP5.

Vehicle logbook trips to and from work / home

Posted 3 November 2015

My biggest problem is with a vehicle log book. Does the Vehicle App explain to you what mileage you are allowed to calculate: e.g. if you work from home and not an office, do you calculate your business trips from home to client?

Will SARS allow personal vehicle expenses as deductible if the vehicle is partly used for business?

Posted 2 November 2015

I own 18 rental apartments which I am renting out. I will be retiring next year from my employment and concentrating on managing these properties and also doing related maintenance myself. I currently own a SUV vehicle which I intend keeping and using it for both property maintenance and also private purposes. Will the tax authorities allow a portion of the vehicle expenses as tax deductible against the rental income to the extent they relate to property maintenance, or do I necessarily need to ...

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Audited, how long does it take to be paid out?

Posted 2 November 2015

I have been audited and as this is the first time that it has happened to me, I have send through all documents that they requested. I was travelling away for work and could only electronically updated my papers for them on the 06/10/2015 after they send me a letter that I am being audited on 09/109/2015. According to my knowledge you have 21 Working days to send all paper work threw as from day of notice. Till now I have not received any information on when the money will be paid out. No other ...

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When must Capital Gains Tax be declared?

Posted 29 October 2015

If Capital Gain tax I have incurred is less than the R30,000 allowance, do I still have to declare it in my Tax tax return?

What is the taxation on the gratuity lump sum and on the annuity for medical retirement-GEPF?

Posted 28 October 2015

I belong to GEPF and was medically boarded. What is the taxation on the gratuity lump sum and on the annuity?

If I get car allowance as part of my total guaranteed package. Can I still claim travel?

Posted 28 October 2015

My job requires a lot of travelling, I do have a car allowance that is part of my total guaranteed package. I do get reimbursed for the km's traveled and toll fees. Do I still have to complete km as per log book to SARS. Do I further qualify for a tax return in this regard?

Structuring of ctc package

Posted 26 October 2015

My question is how to structure your ctc package for tax purposes, for example my employers has only the following guidelines
Ctc=657 918 per annum. 70% must be taken as salary , the remaining 30% may be structured in a tax efficient manner. I'd like to add a car allowance, as well as a bonus 13th cheque to the value of +- 25 000, and I'd like the company to contribute 12% of package as pension. What should I also consider for tax purposes

Will I be taxed on reimbursive travel allowance code 3703 or audited if no log book?

Posted 25 October 2015

I did not have a travel allowance however we were reimbursed by our employer for travel (under 8000). My IRP5 states that I received R17909 for code 3703 (reimbursive travel allowance). This is a substantial figure & I am sure it also then includes funds that were paid to my company diner's card for airfare. Will I be taxed on this amount, or is it non-taxable income? As I was not receiving a travel allowance I did not keep a log book. Was I supposed to?

Car Deductions

Posted 23 October 2015

As a SARS commission earner, I keep a detailed logbook. Do I need my petrol slips for anything?

also where does deemed vs actual cost come in?

Can I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table

Posted 23 October 2015

I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?

Wear and tear calculation for the 2015 tax year for a self employed individual

Posted 22 October 2015

With respect to self-employed individuals for the 2015 tax year... What is the write off period for a vehicle used for business travel?
Is the cost of the vehicle divided by 4 or 7 years? I'm trying to calculate the wear and tear amount which I can include for the calculation of actual costs. Thanks!

Please help with supporting documentation.

Posted 22 October 2015

Can I submit my supporting documents to you? Or must I do it via eFiling?

The email from both SARS and you does not clearly indicate which documents to submit. Regards

Depreciation for commission earner 2015

Posted 21 October 2015

As a commission earner, calculation depreciation. I use 2 vehicles for both personal and business. Would I calculate depreciation as price of vehicle / 5?
or would I factor % of business?

Vehicle Purchased For Business and Personal

Posted 16 October 2015

I recently purchased a car cash for business and personal use. The amount paid was R103,000. How can I go about claiming a portion thereof as a tax deductible expense if I also use it for my business?

Send me a tax certificate

Posted 14 October 2015

How can I get tax certificate from my medical aid?

Calculation of travelling & depreciation

Posted 14 October 2015

Commission earner - Please inform me how to calculate the following:
# travel expenses with a log book
# without a log book - expenses incurred are as follows: fuel, toll, maintenance, license
# depreciation of a motor vehicle

Car Allowance Capped / eFiling adjustment considered.

Posted 9 October 2015

Dear TaxTim. I only recently realised that SARS have been capping my yearly travel allowance (code 3701) at R66,000 which is my monthly car allowance x 12. Thanks for your feedback on that. I do however qualify for an allowance of R100,000 per year based on value of the car and log book total vs. Business km's. When doing my onlie eFiling, the system did allow me to reduce 3601 Income and increase 3701 by the same amount that I decreased the income 3601. I am hoping that this will then prevent m...

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What are those supporting documents that I need to submit

Posted 8 October 2015

I have received an email from SARS saying my income tax has been identified for verification and I must submit my supporting documents on my SARS eFiling. What are those supporting documents that I need to submit, if I don't have invoices,medical certificate or travel book. Is it the IRP5 still a supporting document?
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