Pensioner, 67y of age-i.t.o 2015 tax year- Calaculation of med aid contributions and deductions?

  Written by Marc   Posted 24 May 2015

I am 67 years of age and a pensioner. In terms of the 2015 tax year how is the deduction in terms of Medical Aid contributions been calculated. Example:
Annual contributions to my medical aid fund = R24,000
Med expenses (Dr precriptions) paid out of my pocket = R2000
Previously in terms of my age above 65y, I have deducted my med. Contributions premiums, as well as my med expenses paid out of my pocket(prescriptions) as well as med expenses paid by myself and reflected on my medic...

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Transfer of benefits from one fund to another

  Written by Marc   Posted 24 May 2015

I resigned from my previous employer in 2006 and defer my pension at ABC Pension Fund. I join a new employer and contributed to their pension fund, XYZ Pension Fund. I am now 56 years old and want to resign from my current employer to do voluntary community work. Can the withdrawal benefit from XYZ Pension Fund be transferred to my deferred pension at ABC Pension Fund tax-free, as I don't want to go on retirement before I am 60.

Erroneous Payments and IRP5

  Written by Marc   Posted 24 May 2015

I've been overpaid erroneously for a year . My employer wants the monies paid back in full. Roughly a third of the amount was taxed and appears on the IRP5. Must the IRP5 be amended by the employer, while we sort out the pay back arrangements?

If I buy educational toys and build a structure for a community creche will I still get taxed?

  Written by Marc   Posted 24 May 2015

I''m working for government for about 5 years and I do pay tax. I want to know that is it true that if I help my community with something will I not get taxed? example , let me say I help a community creche with building structure, and buying of educational toys for them. Will I still get taxed?

PAYE evasion

  Written by Marc   Posted 24 May 2015

What happens if someone is not paying the correct PAYE to SARS and they are doing this intentionally?

Will SARS be able to assist me with the documents since nashua mobile has closed down?

  Written by Marc   Posted 24 May 2015

Nashua closed down and where can I get my IRP5 as I need to submit to SARS for audit?

I need my tax number from SARS?

  Written by Marc   Posted 24 May 2015

I dont know my tax number. My Id Number is 8604165133084

Selling software and rights taxation

  Written by Marc   Posted 24 May 2015

I have been developing and maintaining various software throughout the past 4-5 years, I earn a income on the sale of 1 year licenses of these software and declare it as part of my normal monthly income and pay normal income tax on this. I have however been approached by a company wanting to buy the software and all the rights to it from me, how will taxation work on this? I am already being taxed to oblivion and beyond on the sales as I declare it as part of my normal income, would hate to have...

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What will my tax be?

  Written by Marc   Posted 24 May 2015

HOW MUCH TAX WILL I PAY MARRIED WITH 2 CHILDREN ON A GROSS SALARY OF R35. 000. 00?

What is gross salary for net salary of R22000.00

  Written by Marc   Posted 24 May 2015

What is the gross salary if the nett salary is R22000. 00

CODE 3805, CAN I CLAIM

  Written by Marc   Posted 24 May 2015

Hi Tim, can I claim on code 3805 as per my IRP5

Capital gains tax on sale of house?

  Written by Marc   Posted 24 May 2015

I bought a house in November 1999 for R275,000. It was my primary residence up to November 2014, since then I rented it out. If I sell it now for R1,000,000 what will the basic cost be? And the capital gains tax?

Tax calculation on retirement?

  Written by Marc   Posted 24 May 2015

I intend to retire at 44, and lump sum is about R719000. How much tax am I to pay?

What is the impact of the tax credit in a case where the employer pays 50% of the monthly medical co

  Written by Marc   Posted 24 May 2015

What is the impact of the tax credit in a case where the employer pays 50% of the monthly medical contribution and the employee pays 50% of the medical aid contribution?

Taxed 199999 from provident fund how much will I get?

  Written by Marc   Posted 17 May 2015

How much will I get from SARS after been taxed R199999 from my rovident fund

Approved I'll health retirement

  Written by Marc   Posted 17 May 2015

If I am going on early I'll health retirement and I am disabled, is my lumpsum still taxable?

Purpose of provisional tax?

  Written by Marc   Posted 17 May 2015

What is the purpose of provisional tax?

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

Can I open offshore company/trust in tax-haven countries to avoid paying full tax in SA?

  Written by Marc   Posted 17 May 2015

Is it LEGAL or ILLEGAL? Can I open offshore company/trust in tax-haven countries like Mauritius to avoid paying full tax in South Africa? I would like to know is it legal or illegal as per SARS code of conduct? waiting for reply.

Will I have to pay more tax if buying property when I dont pay personal tax working abroad?

  Written by Marc   Posted 17 May 2015

Hello, I will be working abroad for a year and upon my return would like to buy a house, what is the tax implication for this? as I would have been tax exempt being out of the country for a year.

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?

Refund on building costs as a non resident South African Citizen?

  Written by Marc   Posted 17 May 2015

I am a non resident South African citizen working and living abroad in Saudi Arabia for just over 6 years. I visit South Africa at least 3 times a year for periods of either two to three weeks at a time. Last year these visits where in April then May then July. My question really relates to my current property in South Africa. I am renting the properties out however and have had various renovations done. I would like to ask as a non resident can I claim back the VAT on this for example I had gat...

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Income Tax number with SARS

  Written by Marc   Posted 17 May 2015

Do you only have one tax number in your life I've started to work in 2000 but only got a tax number in 2011?

How do you calculate payment and PAYE UIF for one day annual leave

  Written by Marc   Posted 17 May 2015

How do you calculate payment and PAYE UIF for one day's annual leave that was not taken?
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