What must turnover be before you have to submit tax return for a spaza shop

  Written by Marc   Posted 15 October 2015

What must your turnover be before submitting tax return

How do I apportion the depreciation?

  Written by Marc   Posted 15 October 2015

Good day. I have a cell phone worth 5400. I use it 80% for business and 20% personal use. Will my deduction be the full 5400 because its under 7000 or 5400*80%?

thank you in advance

After registering a company, when does the owner become in liable for provisional tax?

  Written by Marc   Posted 15 October 2015

If an individual registered a small company with the CIPC at the end of May 2015 (for example) when does the individual become liable for provisional tax? The company is the only source of income for the individual.

Donations Tax and submission to SARS?

  Written by Marc   Posted 15 October 2015

Hi TaxTim, if I complete an IT177 Declaration of Donations Tax Form and submit it to SARS (I am the Donor). When doing my personal tax return, do I have to declare it in my IT12 and if so, where do I put it in my tax return?

My ITSA shows minus and not selected for audit but they requested supporting docs Return-Assessed

  Written by Marc   Posted 15 October 2015

Hi filed my tax reurn on 13/10/2015 got my ITA34 says SARS owes me and not selected for audit. Than on 14th I requested a statement of account showed electronic refund will be paid 15/10/2014 but later in evening of 14th got request to submit supporting docs. And ITSA still shows a minus and not selected for audit but shows that they reversed the electronic transfer for 15th and balance is still minus. And my tax return status shows Return- Asssed. I submited supporting docs 15/10/2015. Will I still get my refund? or am I in the Audit process. Thanks...

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IT34 balance is R0.00

  Written by Marc   Posted 15 October 2015

My IT34 reflects an amount of R0. 00, what does this mean?

Want to know hom tax will be deducted if I resign

  Written by Marc   Posted 15 October 2015

My pension is the amount of 90983045

Can a director of a company claim home office expenses?

  Written by Marc   Posted 15 October 2015

Can a director of a company claim home office expenses?
My hubby often works after hours, does skype meetings and host meetings at our house
Study is a dedicated room

What is your fee?

  Written by Marc   Posted 15 October 2015

Your fee for completing a tax return?

Agent fees and tax declaration

  Written by Marc   Posted 15 October 2015

If you receive income via an agent which has not been taxed, what is the income declared? Eg: I get paid R10 000 for a job. The agent takes R2000. Do I declare R10 000 or R8000 as income earned?
Also, what proof do I have to show this if audited?

Office costs as free-lance journalist working from home

  Written by Evan   Posted 14 October 2015

If I am working from home as a free-lance journalist, can I claim office expenses like paper, ink, internet and cell phone costs and if so, where do I claim these under?

Tax calculation with salary increase

  Written by Marc   Posted 14 October 2015

Is tax calculated on a monthly or yearly salary? If your salary increases within the financial year, will the tax owing be increased only for the remaining months or will the entire years premiums be adjusted?

Question is am I applicable for a tax number when doing forex trading

  Written by Marc   Posted 14 October 2015

I am 18 years and I have decided to start doing forex trading and I found out that I need a tax number. Question is am I applicable for one?

Tax-deductable items

  Written by Evan   Posted 14 October 2015

I have recently starting working from home as a free-lance food journalist. I had to purchase office and kitchen equipment to use to do my job. How do I claim these as expenses? Do I claim the full amounts (If the items cost less than R7000 each) under deductions/depreciation? Or must I use the calculator to work out the percentage and then deduct that amount each year?

Two medical aids

  Written by Marc   Posted 14 October 2015

For the first four months of the tax year I belonged to a full medical aid deducted from my salary as part of cost to company. After that I was retrenched and joined a medical aid fund on my own. It is a hospital plan and not a full medical aid - does this still get filled in as a medical aid on the tax form (even though it is just a hospital plan)? If so, would I add the two amounts together to fill in as my medical aid deduction on the tax return or or they separate? - I know the work one has ...

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Send me a tax certificate

  Written by Marc   Posted 14 October 2015

How can I get tax certificate from my medical aid?

Updated IRP5 to SARS from Employer turnaround time

  Written by Marc   Posted 14 October 2015

My Employer have re-consile my updated IRP5 to SARS, how long it takes to reach SARS (updated IRP5)

Actually my employer updated my IRP5 to SARS on Friday 9th Oct, but SARS call center agents telling me that SARS did not received it until yesterday 13th Oct. Thanks

Calculation of travelling & depreciation

  Written by Marc   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

Email address to submit IRP5 corrections to SARS

  Written by Marc   Posted 14 October 2015

I have submitted my tax form incorrectly, please can you send me an SARS email address to forward and attach the correct documentation along with a letter.

Taxable Rental Income

  Written by Marc   Posted 14 October 2015

I'm currently renting a property in Johannessburg, but I'm also letting out a property. Can I use my rental expense to offset my rental income from my other property?

Tax-deductable items like laptop or car

  Written by Evan   Posted 13 October 2015

If you use items like a laptop or car for work purposes and want to claim depreciation value back from SARS, does the item need to be new or for how many years can you claim the value back?

Where do I obtain my own IT3 a form?

  Written by Marc   Posted 13 October 2015

I am the only member of a CC. I am self- employed. I need to issue myself with an IT3a form. How do I do this? I have been drawing a small amount from the profit when there is one. I do not draw a salary. SARS is requiring this document for each year I have submitted.. Since 2010. I am confused about this requirement.

Going in to SARS or not?

  Written by Marc   Posted 13 October 2015

SARS has asked me to provide documentation to verify my baking details, and there is a paragraph at the bottom of the letter saying "Should you be required to provide relevant material to verify your banking particulars you are requested to submit it at your nearest branch within 21 business days, for all other verifications your relevant material may electronically be uploaded via e Filing. "

Is there no way to do this through SARS eFiling or do I need to brace the long branch queues...

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Are overseas gifts from children classified as an income?

  Written by Marc   Posted 13 October 2015

One of our children, who is working overseas, has recently being sending my wife and I (we are 63 years old) money each month to help with our expenses. Once this overseas money clears the Bank, this financial assistance works out approx. To R25,000 to R40,000 per month (in one instance, an amount was ALSO included for our grandson's annual school fee: R64,000 ) and this works out to approx. R364,000 per annum). We have indicated to the Bank that each of these amounts is being received as a gift...

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How do the selling of my home impact my personal income tax obligation?

  Written by Evan   Posted 13 October 2015

Hi Tim. I asked you previously what my tax obligation was on selling my house for R80,000.00. You replied that I do not need to pay tax for selling the house. How does that affect my personal tax obligations? Do I need to pay personal income tax on the R80,000.00 income I made for the year? Your help is dearly appreciated. Thanks.
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