As a small business, if my turnover is R14 million in year one and then drops to R12 million in year two, do I still have to pay tax at 28% per annum,even through the turnover has dropped below the threshold?
I am self employed and only earn about R12000 per year. However I earn about R200000 per year in interest from savings accounts. Can I put 27.5% of my total income (Earnings and interest) into a pension fund per year or only 27.5% of the money I earn through working?
If the dividends from overseas shares are accumulated back into the fund in the UK, do I need to pay tax on them in SA even if I am not having them paid out to me. In the UK I do not have to pay tax on them if they are accumulated.
Good Day, this is my 2nd question in as many months. Hope I am not overdoing it but this item will be of interest to many and any suggestions you may have will be greatly appreciated by myself. I am 80 years of age and have been retired for 20 years. A significant portion of my pension has been tax free for 20 years as the result of it having been earned whilst I worked outside of RSA. Yesterday (2. 2. 17) my pension administrators advised me that as from 1. 3. 17 the tax free portion will be ta...
My husband and I sold our primary residence and bought a new one in April 2016. According to TaxTims Calculator, we don't need to pay Capital Gains Tax because it was less than R2m, but: 1. Do I still need to declare the capital gain? 2. If so, do I declare 50% of it because I own half of the property? 3. Also, I missed any mention of capital gains in my Prov tax Period 1. When I filled in Period 2 today, I didn't see any space to add Capital Gains.
I started my company in jan 2015 and want to submit my tax for march 2015- Feb 2016. I requested ITR14 for tax year 2016 is this correct. Which one do I request for Provisional tax for the same tax year. (2015-02,2016-01,2016-02)?