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Deductions Posts in Tax Q&A

Deductions Related Posts - Page 12



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Why do I have to pay SARS?

Posted 2 July 2016

I have submitted by tax return, but I owe SARS R1200, why do owe I them money? I am a straight salaried employee who has no other income/expenditure, etc.

Can I submit my IRP5?

Posted 2 July 2016

it's my first time, I resign last year can I submit my IRP5?

Health saver deductable?

Posted 1 July 2016

I have medical aid with momentum. I received my medical aid tax information sheet from momentum. But I also have the voluntary health saver plan of which I pay monthly. I received a separate tax information sheet from my health saver too. Do I combine these two figures together when submitting to SARS (for expenses not covered by medical aid)?

Should I only complete source code 4020 if my medical aid contributions is already on my IRP5?

Posted 1 July 2016

If my medical aid contributions is already on my IRP5 under source code 4005 and 4474. Should I leave sorce code 4040 and only complete 4020 for expenses not paid via my medical aid?

Explanation of source codes 4040, 4020 and 4022

Posted 1 July 2016

Can you explain source codes 4040, 4020 and 4022 on the tax return.

Why is my refund a lot less than the calculator

Posted 1 July 2016

Have submitted my tax with TaxTim, but just want to check if it is better to submit including expenses (Fuel, oil, etc) as I left it blank?
Why is my travel allowance tax return on Taxtim calculator very high, but when I did the calculation on SARS it works out a lot less?

Does Taxtim file on my behalf?

Posted 1 July 2016

Do you actually do the tax returns on behalf of me? so I just have to submit the correct documents to you?

Admin penalty due

Posted 1 July 2016

I am really worried about an sms I got from SARS saying I have an admin penalty!- I have not submitted a return since 2013 because I didn't think I needed to and had no deductions. What can I do and how much will it cost for you to get all of it in order soon?

Can you claim back a monthly contribution paid towards health insurance?

Posted 30 June 2016

I pay R1900 monthly for me and 3 dependants on a health insurance. Can I claim these contributions back on my tax return as a out of pocket expense?

Is TaxTim costs tax deductable?

Posted 30 June 2016

Is the price I pay for TaxTim for a single assessment or is it renewable yearly? Secondly, can I claim the price back as a deduction, as I would if I used a tax consultant (whose fees are deductable)?

Can we claim for our Rates Account?

Posted 30 June 2016

Our bond is in my name and so is our municipal rates account. Am I allowed to claim for the Rates payments from SARS? I am a normal individual tax payer

Can I fole if I am unemployed?

Posted 30 June 2016

Hi I was retrenched last year in August and got another job in November the 1st and resigned in January. I have been unemployed since then, can I claim tax return even if I'm unemployed?

Tax return submission 2014/2015 finalised without disability declared

Posted 30 June 2016

My son has been moderate to severe disability and met the criteria since September 2014. Submitted al extra medical expenses on my tax return but never declared the disability. Can this be reviewed?

Is there a limit on refreshments for a sole proprietor?

Posted 29 June 2016

What am I allowed to deduct as a sole proprietor for refreshments? Is there a limit per day or per month I can deduct for lunches, breakfast and dinner?

3805 calculation

Posted 27 June 2016

Is the renumeration factor referred to in the formula to calculate free or cheap accomodation as a fringe benefit equal to pensionable salary, or does it include other remuneration as well?

Can you claim for travel (log book) as well as depreciation on the car?

Posted 24 June 2016

I receive a travel allowance and keep a logbook accordingly. Am I able to claim for the travel as well as depreciation on the car?

Employer contributions to provident funds

Posted 24 June 2016

Do I get taxed on my employer contributions to my pension/provident fund?
My Salary is R21400 and I don't contribute directly to the fund. My employer contributes R2140. How much tax should I be paying?

Tax on standby allowance

Posted 23 June 2016

I receive a standby allowance every month that is being taxed on. It is a fixed amount of 14% of my salary to basically be on standby for any breakdowns. Can I claim tax back?

Source codes 3701 and 3702

Posted 23 June 2016

I am busy with my 2017 salary structure. My HR department is offering me both codes 3701 and 3702. Will that be allowed in 2017 tax year. Somewhere I read that your cannot do this anymore and must take either the one or the other.

Do construction workers pay tax?

Posted 22 June 2016

if working in the construction company,do they have to deduct my monthly tax returns from my salary?

Tax deduction for family donations?

Posted 20 June 2016

A) Can I claim a Donation deduction for the following:

1. Son's university fees, paid on his behalf. 2. Monthly donation to my sister. 3. Monthly donation to religious institution / organisation. B) If deductible, what proof is required?

Thanks

How much will I get as refund

Posted 17 June 2016

I am a temp in my work,i have worked for 24 weeks from march 2015 to february 2016,i have earned 156000 and I was taxed R19650. I would like to know will I get the refunds n approximately how much

Tax deductions on rental property

Posted 16 June 2016

I have a rental property that's in a different town from the one in which I live. Is the fuel that I use traveling the property to make improvements tax-deductible? Also, what incurred on a rental property are tax deductible?

Tax on pension and shares lump sum payouts

Posted 15 June 2016

Can I claim tax on my pension withdrawal lump sum payout and on my shares payout

Deductions against rental income

Posted 15 June 2016

I have moved from CPT to JHB. I own a house in CPT which is now being rented out to tenants. In JHB I am currently renting. From a SARS perspective, do I need to declare the rental income as I only own one property and its not a second property bringing in an extra income? What I receive as rental income in CPT immediately covers my rent here. So I do not gain anything. In face what I am asking as a rental is the same as what I pay for my rent here.
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Blog Categories


TaxTim
can help
you file your
Tax return!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started