Where is the link to do the calculation of depreciation of the lapto, motorcar etc?

Posted 4 July 2014

There is more than one place that you said " use the computation machine worked out" But there is no link. How am I suppose to do it?

Earning a salary and having a sole prop on the side, how does the tax work?

Posted 3 July 2014

I am employed and earn a regular salary from my employer. BUT I also run a small business (just me as Sole Prop) on the side. (I help people with Web development and design work)How does tax work in my case? Do I need to put away a percentage of each transanction and pay it manually each year or how does it work? I don't want to get into any trouble with the tax man :-)

Codes needed for TAX return

Posted 2 July 2014

I need to claim for home office expenses and wear and tear on my own cellphone that I use for work ( I check and I qualify for the home office). Which codes to I use on my return for eFiling?

Why do get audited every year?

Posted 2 July 2014

Why do I get audited and asked for supporting docs every year from SARS?

Logbook for tax purposes, must one be kept?

Posted 2 July 2014

As a commission earner do I have to have a travel logbook?

I work in sales, can I claim for my laptop and tablet which is used for work purposes?

Posted 23 June 2014

I work in sales, can I claim for my laptop and tablet which is used for work purposes?

Academic books - deductible?

Posted 25 April 2014

Can I claim deduction for academic books I buy? I am an academic employed by an institution. I need the books to do my job but my institution does not pay for books.

Holiday Homes - what can I claim and what will be the tax implications when I sell my property?

Posted 4 April 2014

I have a holiday home... what expenses can I claim? Can I for instance claim depreciation and finance charges? What is the TAX implications if I sell my holiday home, say after 10 years? If I took money from an existing bond and other financial investments, can I claim the finance cost and lost interest?

Tax reliefstructure salary for tax purposes?

Posted 25 March 2014

I pay medical aid for myself and 2 dependents

What deduction can I take monthly from my salary in this regards

The medical aid payment if R7000 a month as one of the dependents is over 21

What other benefitdeductions can I make on my salary to save tax ??

Depreciation calculation of earth moving equipment?

Posted 13 March 2014

I need to calculate the depreciation on the following items: (all of the items is earth moving equipment)

- a bucket (which forms part of a machine)
- a TLB
- a Tandem Roller

I don't know over how many years I should write of these equipment.

Which is the best way to maximise your return using the travel allowance?

Posted 11 March 2014

There are two ways to calculate travel allowance that is deductible. One is where you keep actual expenses and the other is where there is a table of fixed costs, maintenance etc depending on the value of the car. Which can maximise your refund? And can the capital value of the vehicle be deducted or considered besides for the purposes of determining running costs?

Can you deduct travel expenses to & from coaching as an independent contractor if you keep a logbook

Posted 27 February 2014

If you work 2 jobs - 1 part time with a salary (office job) and the other ad-hoc coaching of sports. Can you deduct travel expenses for the travel to and from the ad-hoc coaching? [I know you can't to and from the work place for the salaried job.]

And what other deductions can you make besides the medical tax credit?

Vehicle depreciation?

Posted 21 February 2014

I recently started my own business and I use my vehicle to collect stock/supplies and also to deliver to my clients. Can I claim the cost of my yearly vehicle renewal from tax?

Deductions on rental income - what is allowed?

Posted 21 February 2014

When doing deductions from rental income, for tax purposes, please advise which of these are deductible:
1) Monthly service fee charged on the bond;
2) Special levies raised for: Water meters (each unit is to have its own water meter, as per municipality); carports (I doubt it, as this is of a capital nature, but please confirm); garden tools.

What is the depreciation limit?

Posted 30 January 2014

What is the maximum amount you can write off against depreciation in general?

WEAR-AND-TEAR OR DEPRECIATION ALLOWANCE of INCOME TAX ACT NO. 58 OF 1962?

Posted 28 January 2014

WEAR-AND-TEAR OR DEPRECIATION ALLOWANCE of INCOME TAX ACT NO. 58 OF 1962
is it still valid - can I use this list of depreciation in 2014 or has there been changes made?

Leasehold improvement - how is this taxed?

Posted 30 December 2013

Our company has to make improvements to our offices that we lease. I know we should account for these as leasehold improvements and amortize it over the lease period, but will this amortization be a tax deductible expense? (will the accounting and tax treatment be the same?) The total improvement will be less than R7 000 can I rather treat this as a "small items" deduction?

SARS not reviewing third efilling correction, requesting documents for something I corrected.

Posted 19 December 2013

Great website

I submitted my tax return, via eFiling, and made two corrections (Re-filed) the one was a medical expense correction where I was a few rand off, and the second was depreciation of an iPad for business use (Calculated for 50 percent business and 50 percent personal) - On the initial return I depreciated the full amount (R2033) and on the third correction on my return I depreciated over three years (R190)

I submitted documents for review and audit, and today I received a SARS letter request to submit documents review for the R2033 amount. For some reason SARS is not picking up my third e-filling correction....

Read more →

Contractor Claims - source code 3616

Posted 5 December 2013

I am an independent contractor code 3616. I use my vehicle for for business purposes and have an RA.

1) Must I have an RA to claim the max 15% RA deduction or can I claim irrespective having one or not ?
2) My vehicle is paid up, can I still claim the monthly ISA installment I used to pay ?
3) What are the entertainment expenses I can claim ?

Where on on the ITR12 do purchases like PC's under R7000 get filled in? And Internet Expenses?

Posted 23 November 2013

For Home office outlays where on the ITR12 form would I put R1400 spent on a new Hard Drive for my business computer and R4500 for a Laptop - do they go under capital expenditure?

And are 3G or ADSL Internet expenses added to telephone costs and put under the Telephone heading?

What deduction can be claimed under a 3717 housing subsidy allowance?

Posted 21 November 2013

What deduction can be claimed if I received a 3713 allowance and the allowance was for a housing subsidy and under what source code will I complete the deductible amount?

Are insurance premiums a tax deductions from a business?

Posted 15 November 2013

As a sole proprietor, can I deduct insurance premiums on electronic equipment as an expense? (3x computers I use to carry on my trade as an animator)

DIFFERENCE BETWEEN DEPRECIATION CODE 4027 AND WEAR & TEAR

Posted 12 November 2013

What is the difference between tax code 4027 on the personal tax return and wear & tear under claim against travel allowance?

Calculate Wear and Tear / Depreciation using Interpretation Note 47

Posted 2 November 2013

My question has to do with Calculate Wear and Tear / Depreciation using Interpretation Note 47.

Can one claim depreciation on a personal car that one uses to get to work and back?

Can I claim MPS as a state doctor if I do extra private work earning me additional income?

Posted 13 October 2013

I work as a salaried doctor in the state. I also however do some work in private so I need MPS. Can I deduct this and the laptop I bought to do this work? Unrelated, I pay R3200 per month for my domestic worker. Any possibility of a tax deduction on this?
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