Would I have to register as a provisional tax payer?

Posted 3 November 2015

I was a permanent employee at a company for the first 6 months of the tax year. I have gone freelance for the remainder of the tax year and the foreseeable future. I am receiving a salary in effect as the companies I freelance for deduct 25% tax on my earnings and pay me a monthly lump sum (salary) and they provide IRP5s. Does this mean I won't have to register as a provisional tax payer and also at 25% tax could I apply for a tax directive?

How much do I pay tax if my business has made less than R10000 profit

Posted 3 November 2015

I have cash loan business,and I only made R2000 of profit due to bad payers. So how much should I pay to SARS?

Havent submitted tax returns

Posted 3 November 2015

I havent submitted a tax return for last 3 years. I have my IRP5's. Help what must I do and are there penalties. I also have just opened a sole prop and need to apply for a tax clearance.

Time limit for submission of returns?

Posted 27 October 2015

When must 2014 to 2015 IRP5/IT3(a) tax returns be in by?

Small Business - Administrative service

Posted 26 October 2015

I started a small business where I provide administrative services to one company at a cost of R10 000 per month. What will the tax implications be? Will I be able to register for turnover tax or what would be the best option?

Can I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table

Posted 23 October 2015

I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?

By when must all returns be submitted

Posted 23 October 2015

By when must all tax returns be submitted

Can PAYE, UIF and Provisional Tax be claimed on Income Tax Return (ITR14)?

Posted 22 October 2015

Hi TaxTim

I would like to now, can a Company claim PAYE, UIF and Provisional Tax on a Income Tax Return (ITR14)?

Thanks in advance.

Additional income capture for private work I was not taxed on

Posted 21 October 2015

I did some private work during 2014 for which I was remunerated, but not taxed. Please advise how to add this to my tax return and how to claim for the expenses incurred in this period as well.

How to catch up on outstanding returns when I have no income and expenditure records

Posted 20 October 2015

I resigned from my job in 2010 and took my pension to buy a small business, which I ran as a sole proprietor for 2. 5 years. During this time, I did not submit a tax return, as I wasn't sure how to do it. Also, I was not making much profit and more or less came out even at the end of every month. I then passed the business on to my son-in-law and started working again in 2013. All the income and expenditure info relating to the business was contained on a laptop, which subsequently crashed, so I...

Read more →

Registering as a freelance tax payer

Posted 20 October 2015

Hi there, I have been working from home for a couple of months now for a company I used to work in-house full time for. Better explained - I now work on a freelance basis for the same company but I get a weekly salary, the same each week and its on-going. I had the understanding that my tax was being deducted off my salary, that the company was taking care of this. I recently realised that this is not the case and I should have registered as a freelance practitioner and taken care of my own tax....

Read more →

ITR12 For January as Provisional Tax Payer

Posted 19 October 2015

I am currently running a business as a sole proprietor and have registered for provisional tax. I have already submitted 2 provisional tax returns for the 2015 tax year (IRP6). Now do I also need to submit a ITR12 for January?
Does TaxTim also help with this type of ITR12, and if so, is it any different from your standard ITR12?
How should I answer the initial TaxTim questions differently?

Vehicle Purchased For Business and Personal

Posted 16 October 2015

I recently purchased a car cash for business and personal use. The amount paid was R103,000. How can I go about claiming a portion thereof as a tax deductible expense if I also use it for my business?

Tax implication working as a consultant

Posted 16 October 2015

If I earn a salary that's taxable plus an amount working as a consultant for a different company what is that tax implication on the extra amount earned as a consultant?

After registering a company, when does the owner become in liable for provisional tax?

Posted 15 October 2015

If an individual registered a small company with the CIPC at the end of May 2015 (for example) when does the individual become liable for provisional tax? The company is the only source of income for the individual.

Office costs as free-lance journalist working from home

Posted 14 October 2015

If I am working from home as a free-lance journalist, can I claim office expenses like paper, ink, internet and cell phone costs and if so, where do I claim these under?

Earn commission apart from full time job, what are the tax implications?

Posted 12 October 2015

I am earning commission on sales from selling an appliance. This income I earn on a part time basis apart from my full time job. What will the tax implications be on such an income, the commission varies from month to month? How do I go about paying this?

How do I undo selecting the wrong time period for a provisional tax return?

Posted 7 October 2015

Hey there TaxTim!

I'm doing my provisional tax return, and accidentally selected the wrong time period for it when requesting it. How do I undo this?

When does one register for provisional tax, before you earn or after you earn money

Posted 6 October 2015

Provisional Tax
Do I earn say R8000 for the first 6 months first
Then register to pay provisional tax
Forex Trader Starting soon

Register Yes or No for a company?

Posted 6 October 2015

I am a bit undecided if I want to register a new Pty Ltd due to all the tax requirements. For the moment there will be no employees as it will be a part time business for myself in which I will provide financial services and consulting. Please assist in advising me if I will need to register for PAYE and also income tax, even though the business will be very small and start off with less than R50 000 income per annum?

How does tax work for self employed person?

Posted 1 October 2015

I am self employed and wish to know what tax contributions I need to put aside of my salary every month and also when does a self employed person start paying tax? after what amount of earnings?

As a sub-consultant should the company I do work for deduct tax?

Posted 30 September 2015

What is the difference between a sole proprietor and sub-consultant. I am a sub-consultant and work on an hourly rate. My income is not the same every month. I use the companies' offices from time to time. I have been a sub-consultant since August 2015. The company deducts tax from my monthly income and will provide me with an IRP5. My question is should they deduct tax?

Request for Supporting Documents but I have not been employed for 3 years

Posted 27 September 2015

SARS is asking for supporting documents related to my tax return but I have been unemployed and living abroad for three years! I don't have any of the documents they are requesting. I still pay provisional tax and submit that tax return dutifully. I read that I must swear an affidavit at a police station but I am currently not in the country and won't be back for several months - they need these supporting documents in 21 days. What must I do? (I did email them, asking them what to do, but they ...

Read more →

ITA34- Gives 0.00 as Net amouny payable but tax calculation result is "-18K".

Posted 27 September 2015

I submitted tax return (ITR12) for year 2013-2014 via SARS SARS eFiling and calculator shows that amount is -18K. But
ITA34 Notice of Assessment show "0" amount as net payable. What does this mean because I should be expecting 18K refund as per tax calculation pdf generated. Why ITA34 says "Net amount payable under this assessment after allowable credits
Compliance information:0. 00"???? Please help me to understand this.

Help with provisional tax already part completed

Posted 23 September 2015

Hi, I'm working on my husbands tax return for the first time (used to have tax practitioner). I've done 1st and 2nd provisional for 2015 year and I'm about to do a top payment and then I'll wait until Jan to do final ITR12. If I sign up for the R349 package are you able to pick up from where I left off? Just need help with some final details and good to have access to an expert to answer questions I may have as things come up.
Older posts →← Newer posts    2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22