What is considered Other income earned (excluding dividend

Posted 28 January 2016

What is considered as Other income earned (excluding dividend ):

Can you apply 4 a tax number if you are a foreigner working in SA

Posted 27 January 2016

Lm a foreigner working in SA. L use an asylum can l apply 4 a tax number thy need it at work please help

Tax and emigration

Posted 27 January 2016

As someone who was born in South Africa and have always resided in South Africa what are the tax implications if I decided to emigrate? Is there an exit tax?

Do l get exemption from tax since l fund my own BTech: Civil studies

Posted 27 January 2016

I am a salaried employee and have just registered to study BTech Civil. I am fully responsible for funding my studies as the company does not sponsor BTech and it is in line with my profession as l currently have a diploma in civil engineering, so l want to know whether l am eligible to getting any form of exemption from income tax because the fees are rather high.

Tax implication on Buying Namibian property and Rental income from Namibia

Posted 26 January 2016

What is my tax obligation/implication when firstly, buying a property in Namibia and secondly, after building on it renting it out and earning rental income on a monthly basis. I am an employed SA citizen. How do I declare this on my tax return

Give me an example please R500 p/m x 30 years

Posted 26 January 2016

I have a retirement annuity with Momentum. I only pay R500 a month and want to know on the day I retire if 2/3 will have to be reinvested in a annuity (to pay me interest every month) or if there is a certain threshold whereby I get 100% out on the day I retire?

On SARS website the use the wording "annuity interest lumpsum" which tells me its on the "interest" part on where you might get something back.

Tax payable on unit trusts in us $ when converted to cash

Posted 26 January 2016

Tax payable on unit trusts in US $ WHEN CONVERTED to cash

Capital gains tax on property

Posted 25 January 2016

I have sold property and would like a estimate how much CGTi I must pay.

Do independent contractors working for US company have to pay South African tax.

Posted 25 January 2016

Awesome website you have, I currently reside in Cape Town and I am a South African resident, I recently quit my South African job in July 2015. I started working for a US company as an independent contractor as of 1 September 2015 until present. I also freelance on the side for a South African business, I work about 6-8 hours a day for the US company and on average 6 hours a week for the South African based business. I would like to know, what are the tax implications in my case for South Africa...

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Do I need to register for provisional tax due to CGT

Posted 22 January 2016

If I have a R1 000 000 capital gain, do I need to register as a provisional taxpayer and pay the capital gains tax as provisional tax?

Tax Refund for taxpayers?

Posted 19 January 2016

SARS Haven't paid me my refund for 2014 / 2015 both was audited. They say I must summit my 2008 IRP5 and the company that I worked for at that time doesn't have any record of it now. They say I must get an Affidavit at a police station and summit to them. What must be written in the Affidavit?

Tax rules for foreign income for SARS?

Posted 19 January 2016

Please advise the tax rules for working outside of SA? No income is earned in SA only abroad.

Is it correct to say the marginal tax rate is different to the effective tax rate?

Posted 18 January 2016

Marginal tax rate: Is a person who is taxed at 41% actually taxed at 41%? Because of the fact that there is a primary rebate of R73,650 the tax payer is not taxed on the full amount at 41%. Thus the effective tax rate is less than 41%. Is this correct?

Leaving SA - tax return

Posted 15 January 2016

I have taxpayer that is leaving SA permanently on the 01 May 2016. According to the income tax act article 9H(2) the taxpayer must submit tax return on date of not being resident in SA as well as tax return on the end of the year 28 February 2017. The question however is how do we submit two tax returns in one year or what must we do to have this information for the year correctly carried over to SARS?

Am I supposed to pay tax?

Posted 15 January 2016

I am a foreign student studying in South Africa, I got a part time job earning about R20,000. I resigned after 2yrs 8months. I was informed there is a provident fund I was to collect. The company was deducting tax from me every month. Was I supposed to pay tax? And will this affect the tax directive for me to receive my provident fund

Tax rules for foreign income

Posted 15 January 2016

Please advise the tax rules for working outside of SA? No income is earned in SA only abroad.

How do I get my IT 150 form online? I just want to check when I registered for income tax.

Posted 12 January 2016

How do I get my IT 150 form online? I just want to check when I registered for income tax. I am registered for SARS eFiling. Thank you

How to get a IRP5 if employer have closed and SARS have do not have one?

Posted 12 January 2016

SARS requested my 2012 tax return and on eFiling no IRP5 for this period have been uploaded. I have lost my IRP5 received and the employer at that time have closed and I do not know how I can get the IRP5. What should I do?

Allowable deductions from rental income

Posted 12 January 2016

I did some renovations to a rental property between tenants. I replaced the carpet with tiles, replaced all the kitchen cupboards and the oven, and repainted. All of these renovations were specified in my rental contract with the new tenant - she viewed the unit before the renovations, and we agreed that they would be carried out before she took occupation. Which costs can I deduct as expenses in the production of the rental, or must I add all of the costs to the base cost of the property for pu...

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How do I claim my Uber rides as a business expense?

Posted 11 January 2016

How do I claim my Uber rides as a business expense?

Independent Contractor Setup

Posted 8 January 2016

Hi TaxTim

Great site!

I need guidance on what is required ito independent contractor (IC) tax & vat requirements. 1) If trading through my PTY LTD company as an IC, do I pay companies tax as well as personal income tax?
2) Do I deduduct all claims and deductions (medical aid, RA) prior to paying over tax, or only when I reconcile/ file tax?
3) How many times a year do I need to file tax returns?
4) Do I need to setup PAYE and UIF?
5) Income will exceed R1m per year, so vat should be registered. If true, When do I pay vat over to SARS and what paperwork is involved?...

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If I qualify for exemptions do I still have to register for provisional tax?

Posted 6 January 2016

If I am a director on a business that makes less than R30k per annum (not getting income from it) and am employed with a package of R500k per annum, am I still regarded a provisional tax payer? Is there an option to deregister?

Declaring Foreign Income

Posted 6 January 2016

Do you need to now declare your foreign income in your tax return? I work and live in Dubai and only tax return to South Africa once maximum twice a year for a maximum of 30 days. I file a tax return every year declaring my rental income and local interest from South Africa, but I do not declare my foreign income as I am out of the country for more than 184 days which 61 are consecutive.

How do I avoid double taxation between RSA and the USA?

Posted 5 January 2016

I just invested in a Global Property index fund held under a tax-free savings account. I believe this is exempted from SARS 15% dividends tax. The IRS tax rate for foreign investment goes as high as 30%! Is there a possible chance that I may be taxed twice, dividends tax and then capital gains tax, when I sell and bring over the amount back in South Africa?

Can I opt just to have either my provident or pension fund paid out and to buy an RA with the other

Posted 5 January 2016

I have both a pension fund and provident fund at my current employer. I plan to resign prior to the introduction of the retirement reform legislation thus before 01/03/2016. Would it be possible for me to have just one of the 2 funds paid out and taxed and to invest the other in a retirement annuity. Also my assumption would be that I would only be taxed on the fund which is paid out. Thanks for your assistance. Kind regards
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