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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SARS demanding money that was paid by previous employers

  Written by Marc   Posted 2 March 2015

My previous employer claims to have paid taxes, and sent me a handwritten IRP5. SARS have contacted me stating that I owe them a large sum of money, which money should have been paid by my previous employer. I will not pay SARS for sums that have already been deducted from my previous payslips. What is my solution?

What to do if I have not completed my tax return with SARS?

  Written by Marc   Posted 2 March 2015

How can I complete my tax return?

Why are No UIF Conrtibutions & Benefits Payable By & To, Commission Earners etc. ?

  Written by Marc   Posted 1 March 2015

Why are No UIF Contributions & Benefits Payable By & To, Commission Earners?My Income is PAYE Taxable, but I Did Not BENEFIT Financially from UIF, When I Was Re-Trenched/Dismissed & Unemployed For 9 Months :-)

Where to declare foreign income on ITR12

  Written by Marc   Posted 28 February 2015

I am in the US on a work visa. I have not been back to US in over 2 years. I have South African rental income for the 2014 tax year but no salary income. Where do I declare my foreign income on my ITR12? Is it under SARS code 4222 or Exempt Amount i. T. O. S10(1)(o), or both?

Provisional Tax Deadline was Missed, couldn't get IRP6 registration in time.

  Written by Marc   Posted 27 February 2015

I'm sort of new to provisional tax (couple of recent months) and I was aware that I need to be submit a return by end of February. The one thing I didn't know is that I need to register for (IRP6) before I can submit one. Always saw it online on eFiling and figured it would work as normal (Income Tax section) and never tested the "functionality" so I did ask for a request to register but as it turns out I didn't get it in time. . . So I was wondering what options do I have? Can I get an extensio...

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Classification of income for contract employment and permissible deductions.

  Written by Marc   Posted 27 February 2015

Hello. I work for a company where I was previously employed full time before I relocated. Now I work on a contract basis (contract renewable annually) performing tasks previously in my job description from a home office which I furnish, equip and maintain myself. I work unsupervised and submit an invoice monthly for a set number of hours worked and am paid an hourly rate. As this is my only income, the company deducts PAYE, but I pay for medical aid, retirement annuities and income protection pr...

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Audit complete, still no refund from SARS?

  Written by Marc   Posted 26 February 2015

I filed my return on 07/01/2015. I received no communication from sars until 02/02/2015 informing me I was selected for an audit. I submitted all required documents. I received the letter of completion of audit on 23/02/2015. My statement still shows the same refund amount, but since then no refund was paid.

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?

How do I pay tax if I receive money from multiple employers at variable amounts each month?

  Written by Marc   Posted 26 February 2015

How do I work out how much Tax I need to pay if I receive an income from four different employers and three of them are variable amounts each month?

Do I qualify for a tax refund?

  Written by Marc   Posted 25 February 2015

I find your blog interesting and helpful and I believe you can help clear out the confusion that I have. I started working from 1 May 2014 as a temporary employee until 30 September 2014 and I earned R5000 a month during that time. I was made a permanent employee as of 1 October 2014 and I started earning R10000 a month. I am currently registering as a tax payer with SARS and I wonder if I will qualify for a refund from SARS or not?

Role of SARS in NGO's

  Written by Marc   Posted 25 February 2015

What is the role of SARS in non-profit organisation?

Can education/training/online training be claimed from tax if you're self employed?

  Written by Marc   Posted 24 February 2015

Can education/training/online training be claimed from tax if you're self employed?

DO I have to pay PAYE and do SARS give money back?

  Written by Marc   Posted 24 February 2015

I earn R107000p/a should I pay tax and how much, I hear people say that one can file a request to get their tax money from SARS, please illuminate as I'm really in the dark.

Verification of tax

  Written by Marc   Posted 24 February 2015

I earn a gross salary of R11500 per month and the company deducts R1400 for tax. But according to SARS online I should be paying R1006 for tax. How can I be sure how much tax I should pay?

Tax query on bonuses?

  Written by Marc   Posted 24 February 2015

On a 13th cheque how much PAYE does one have to pay. Under 65, monthly salary, UIF,no other deductions

What period does the IRP6 submission, that is due on 27 February 2015, cover?

  Written by Marc   Posted 23 February 2015

What period does the IRP6 submission, that is due on 27 February 2015, cover? Is this from 1 March 2014 until 30 June 2014?

Important tax enquiry?

  Written by Marc   Posted 23 February 2015

I bought land and built a rental house. I have upfront fees which appear on the pro Forma account of the transferring lawyers. Such expenses are :

Registration fee. 6 months Municipal Rates upfront. Rates clearance certificate fee. Transfer duty. Deeds office registration fee. FICA verification. Lodging agents fee and postage. Sundry expenses (phone calls, postage, file storage fee, printing, photocopying, emails and faxes). Fee for consent to transfer from HOA. Paid management for HOA consent and levy figures...

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How to register student, doing part time modelling, with SARS

  Written by Marc   Posted 22 February 2015

My daughter has started a part time modelling career. She is 15 years old and still in school. Do I register her as a normal individual tax payer with SARS, she will be a sole proprietor. There will be
expenses deductible for tax purposes.

Claiming for Petrol from SARS?

  Written by Marc   Posted 22 February 2015

I have a full time job as a Sales Executive. I use my own vehicle for work, and keep a logbook. I then claim S&T from my work and get paid the month there after. Can I claim and how does it work (what must I claim and what do I get back)?

As well - I buy gifts for my clients (chocolates, accessories, stationery, etc. Can I also claim this?

Tax whilst employed fulltime and a director of a PSP private company

  Written by Marc   Posted 21 February 2015

Hi Tim thanks for the awesome work. How does being a director of a private company affect personal income taxes( noting that this work is occasional in addition to being employed full time during the week) if the service offered is of a personal service provider nature and a. The director does not take fees or income From the company. B the director earns fees/income from the company is provide the personal service himself. Thanks

Amount monthly paid for tax

  Written by Marc   Posted 21 February 2015

How much tax do I pay if my net salary is 8000r?

Are computer components (CPU, RAM, etc.) considered to be "part of a set"?

  Written by Marc   Posted 20 February 2015

Regarding the writing off of assets under R7,000 in value, you mention here[*] that the items must not be "connected" to one another or form part of a set. I purchased 6 items this year (CPU, SSD, Case, PSU, RAM, M/board) [in 2 transactions] in order to upgrade my PC (used for work purposes). Are these items "connected" to one another / do they form part of a set?

The total amount was about R7,671. 16 ?%u20AC%u201C which means that I can't write this off if they are considered to be part of a set. Are they? Or can I write off all 6 items, as each of them cost less than R7,000?...

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PIT Assurance Audit turnaround

  Written by Marc   Posted 20 February 2015

How does one get selected for a SARS Assurance audit? What is the turnaround time?

Depreciation on private vehicle

  Written by Marc   Posted 20 February 2015

Can one claim depreciation on a private vehicle if you have already claimed for travelling - Commission income
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