Why do I pay high tax on a little salary?

  Written by Marc   Posted 6 February 2015

I'm an educator who earns about 20k gross salary and I'm also earning my late husbands annuity income of 10k pm, but whenever I go to SARS to submit my returns it turns out that I owe them a lot of money because in 2013 I paid 28k and now they want 31k so I need help as I dont understand how it gets to that high amount every year.

Tax on interest income?

  Written by Marc   Posted 6 February 2015

What is minimum amount of interest income that is non taxable. Also where is taxable interest reflected on the return?

Wasn't earning, now earning what will I pay in tax and do I go to SARS instead of eFiling.

  Written by Marc   Posted 5 February 2015

I'm a work at home struggling writer who doesn't get much work. I added up my bank statement for this year and I earned about R100k. I've been doing eFiling since it started but was told two years ago not to submit a tax return since I earned too little. R100k puts me into a tax bracket - do I go to my local SARS and fill in a form or do I do this online? BTW I bought a PC and Monitor, can I deduct that.

Reference number for EFF payment?

  Written by Marc   Posted 5 February 2015

I completed my return and received assessment showing that I owe SARS money. I'm trying to pay via EFT (internet banking) using my tax number as the payment reference, but am receiving an error message saying the format of the payment reference number is incorrect. What payment reference number / format should I be using?

No same amount of salary paid every month how do I get taxed?

  Written by Marc   Posted 5 February 2015

If I run a CC and my salaries are not the same amount every month and my credit cards are settled via the business account which I then add as salaries. Can I round off the amount accordingly? i. E. R6000 a month?

Commission less than 50%. Can I claim expenses?

  Written by Marc   Posted 4 February 2015

Hi. I earn a salary and commission. Last year my commission was lower than my salary. My consultant has claimed for expenses. Will this be allowed. I entertain clients allot, I use my car for mainly work purposes. My cellphone bill is mostly for work I have a home office. I spend allot of money to get commission. I have 3606 on my irp5

Freelance Income from International Clients on ITR12?

  Written by Marc   Posted 4 February 2015

I have a international client that pays me monthly but they cannot supply me with an IRP5 since they not based in SA. How do I go about paying my tax?

If I don't pay back sars their money that I owe what will be the quencequences?

  Written by Marc   Posted 4 February 2015

Sars say I must pay back their money that I got fraudulently,how do I pay it back? And what are quencequences of not paying them back?

Tax on Personal Liability Companies

  Written by Marc   Posted 3 February 2015

How does tax work for a Personal Liability Company (Incorporated)? Is it the same as a Private Company (Pty) Ltd or do special rules apply? Are there any tax benefits of a Personal Liability Company above a normal Private Company?

Thanks!

Tax if I am paying my medical aid fully on my own?

  Written by Marc   Posted 3 February 2015

I've recently started a new job where I now contribute fully to my medical aid and retirement annuity. How will this affect my monthly tax contributions?

What is a personal income tax assurance audit?

  Written by Marc   Posted 2 February 2015

What is a personal income tax assurance audit? Does this mean they are auditing more than one year?

WHEN MUST MEDICAL AID CREDITS BE DEDUCTED

  Written by Marc   Posted 2 February 2015

Must the Medical Aid Credits (R257x12) be deducted from Taxable Income before calculating tax payable from the tables or from Tax Payable after the calculation has been done ?

Do I get tax relief when buying a medical aid?

  Written by Marc   Posted 2 February 2015

If I buy a medical aid and the installment is deducted from my bank account what tax benefit do I have?

Addional income from Mauritius - where do I include this on my return?

  Written by Marc   Posted 2 February 2015

I am employed in South Africa, and I am a South African tax resident. I have the opportunity to do work for a Mauritius company. Essentially I will be on a South African company's payroll as well as a Mauritius company's payroll. I will be spending less than 60 consecutive days in Mauritius so I will remain a South African tax resident. How will my additional income from Mauritius be taxed? Will I have to pay PAYE in Mauritius and pay tax again when I submit my return to SARS?
I have heard ...

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When primary residence becomes secondary residence, what happens to capital gains tax?

  Written by Marc   Posted 2 February 2015

I bought my flat 7 years ago for R1 million, and it's probably worth R2. 5 million now. It's been my primary residence up till now, so I know I won't pay capital gains tax on it if I sell it right now. But what happens if I instead buy a new house to live in, and keep my flat to rent out (so it becomes my secondary residence)? Say I sell the flat in 3 years for R3. 5 million. Would the capital gains tax be calculated by subtracting R1 million from R3. 5 million to get R2. 5 milli...

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How to submit tax for freelance work

  Written by Marc   Posted 2 February 2015

I have been freelancing for 8 months now and have generated some income. How do I submit my tax return for these cash deposits? They are all different amounts from different clients. I obviously do not have an IRP5 as these were cash based payments.

Can you deduct expenses incurred in production of income when earning an hourly rate subject to PAYE

  Written by Marc   Posted 31 January 2015

Where you work on short term contract for an hourly rate and your "client" deducts employee tax from your earnings (following completion of a questionnaire), are you able to deduct expenses incurred in the production of that income - such as travel and subsistence?

Incorrect tax calculated

  Written by Marc   Posted 30 January 2015

I started a new job in January 2015. Our work uses VIP payroll for calculating and processing salaries. My gross salary is R43333. 33 per month (no other benefits). Why would the tax on my pay slip show R12 718. 35? Per the tax tables and this website I should be paying tax of R10 379. 04 together with UIF of R148. 72. R2 339. 31 of additional tax is being deducted. Why is this? And will it be corrected in future months?

Submission to the tax man if you are under the tax bracket

  Written by Marc   Posted 30 January 2015

Do I have to submit anything if I only earn R5000 a month?

Pension Fund Payout pre-retirement for tax purposes?

  Written by Marc   Posted 30 January 2015

I am 32 years old and have recently resigned (from a government department). I would like to withdraw my pension, but as part of this can either have it paid out to me (and taxed), or transferred to an RA fund. What are the tax implications for me on payout, considering I pay tax on my salary and business income, and am thus on a relatively high rate?

Is PAYE included in the gross income figure on an IRP5?

  Written by Marc   Posted 29 January 2015

Where do I show PAYE paid over to SARS in the books? And is PAYE included in the gross income figure (code 3601) on an IRP5?

IT88 definition?

  Written by Marc   Posted 28 January 2015

Please give the definition of IT88 and how it arises?

Tax refund on inheritance

  Written by Marc   Posted 28 January 2015

My partner inherited some money (from policies and investments) over the last financial year and paid a lot of tax on the payments. My question is, because he is not employed, can he claim any of the tax back?

What are the implications of self funding benefits such as life cover, disability, med aid etc?

  Written by Marc   Posted 28 January 2015

What are the tax implications of self funding benefits such as group life cover, disability cover, medical aid and retirement funding compared to when these benefits are funded in full. Partially by a company. Would my earnings or tax benefits be less or more?

Can income tax number be done over the phone

  Written by Marc   Posted 27 January 2015

Can't I apply for a income tax number over the phone because we don't have SARS in our area,and its my first time to get a job?
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