How much tax is my company allowed to deduct from my salary?

  Written by Marc   Posted 1 May 2014

I would just like to know I earn R96k per annum, plus occasional overtime, commission and performance bonus of - R1000 on occasion, how much is my company allowed to deduct for tax every month from my salary. I am a registered tax payer.

Tax Deduction?

  Written by Marc   Posted 30 April 2014

I have been paid by my employer from Sept 2013 till Feb 2014.

I would like to know what would be the tax deduction for the total gross income earned in FY 2013-2014 .The income earned was R336 267.

The tax deduction has been R89 545 which I would like to know if it's correct or it's more?

SARS eFiling bank details changed and no letter?

  Written by Marc   Posted 30 April 2014

I submitted my tax return etc and my bank details changed, The following day I got this message under SARS status: AVS Bank with AVS verification pass. Its the only message I received and there is no letter to say I have to submit extra documents etc, only that message. How should I proceed?

Are there any normal tax and/or capital gains tax implications on a refundable rental deposit?

  Written by Marc   Posted 29 April 2014

Are there any normal tax and/or capital gains tax implications on a refundable rental deposit?

How do you register a company that won't be using VAT but would like the perks?

  Written by Marc   Posted 28 April 2014

I have started a new company and want to know the following:

My company won't be doing invoices or quotes nor will it be buying anything on credit. So no VAT will ever be charged from my side. In the future I see the company recruiting employees but for now it is just me. Do I need to register my company right now (if its just me) as I would like the perks of having the office space I am using to be taxable. I am using 2 parts of my house for work purposes (one for offices and the other for storage). ...

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How does my tax work if I am the sole proprietor and sales person of my estate agency?

  Written by Marc   Posted 28 April 2014

I am a principal of my own estate agency. I work alone. How does my tax work? As a sole proprietor I am not certain, as I do all the selling myself?

Academic books - deductible?

  Written by Marc   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.

Sabbatical tax relief - more than 183 days

  Written by Marc   Posted 25 April 2014

The 183 day rule - I will be out of the country in the coming year for 177 in the US and 10 days in Finland on business. I am an academic and will be a visiting scholar in the US. I will be paid by my institution in South Africa while away for the whole period. Do I get any tax relief from the 183 day rule apply? Or does it only apply if I'm getting paid outside the country?

Salary calculations - what is included?

  Written by Marc   Posted 22 April 2014

An employee gets a Travel Allowance - 80% of his salary (correct). He also needs to pay off a Staff Loan - R1,000 per month. Do you deduct the loan amount BEFORE taxes or AFTER PAYE & UIF? What is the correction calculation PLEASE.

Is my ex spouse subject to pay tax on a divorce claim?

  Written by Marc   Posted 21 April 2014

How much tax will my ex- spouse pay on divorce settlement?

Do I have a tax number?

  Written by Marc   Posted 19 April 2014

I'm a government employee for about 11 months now and I have never registered for a tax number but they do deduct a tax in my income, does that means I do have a tax number?

Calculate the tax amount after completing my return?

  Written by Marc   Posted 17 April 2014

After having completed the tax form, how do calculate the tax amount due?

Is R199 a standard fee for all scenarious

  Written by Marc   Posted 17 April 2014

Are the costs R199 even if I have a property and receive a car allowance? Is it a standard fee?My husband and I are looking at changing tax practioners

What type of taxpayer am I classified as?

  Written by Marc   Posted 13 April 2014

Hopefully you can please help me out, I registered for Tax a year ago, by default I was registered as a non-provisional tax payer and I am currently unsure of how I should classify myself for tax purposes. I'm also not working as a company or cc but as an individual.

I have 3 different forms of income:
1) 35 Hours a week I work for a company on their premises (almost as a full time employee) and invoice them every month. 70% of income. The do not withhold PAYE as of yet.
2) 5 Hours a week for another company, Invoiced for as well. 15% of income and they withhold 25% PAYE....

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I never claimed tax since I started working 5 years ago, can I still claim and file my returns with

  Written by Marc   Posted 12 April 2014

I am working for a company for 5 years now and I haven't claimed tax since then but my employer has been deducting, so will I still be able to claim tax for all these years?

Will my employer incorrectly stating a tax credit as a deduction on my IRP5 prevent me from claiming

  Written by Marc   Posted 11 April 2014

I am worried that my employer intends to incorrectly insert the medical aid tax credit into my IRP5 as a deduction even though they do not deduct same from the monthly PAYE (I have asked them to in the past but they have declined to do so) - is their procedure correct or will this prevent me from claiming the tax credit on my return?

Medical Aid & Car & Travel Allowance Questions

  Written by Marc   Posted 9 April 2014

Can an employer pay an employee for medical aid if its not medical aid through the company but rather on their own capacity? For example I have my own medical aid on my name. Can my employer pay me a set amount of R2000 every month for medical aid? What is the tax benefit of that, if any?

What is the difference between a car/Motor Vehicle allowance and travel allowance or are they the same thing? I don't travel for the company, but could I still get a car/Motor Vehicle allowance?

Pension Fund vs RA

  Written by Marc   Posted 9 April 2014

I am currently at a company where they contribute and I contribute to a pension fund. Another company has a structure where they don't have any RA or pension scheme. If I were to take out an RA at the second company how will this affect my tax?

Refund on provident funds?

  Written by Marc   Posted 9 April 2014

Do I get tax back on my provident fund payout?

Income tax legislation?

  Written by Marc   Posted 9 April 2014

I need to know income tax legislation and criteria for deductible income tax.

Can I be taxed less or refunded when I submit receipts of all my purchases?

  Written by Marc   Posted 9 April 2014

I'm told that if I keep the receipts of everything that I purchase, I can submit them to SARS and I don't have to be taxed too much or I can be refunded, is it true?

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

  Written by Marc   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?

our employee deduct

  Written by Marc   Posted 4 April 2014

hi tim our employee deduct PAYE from some of our casual worker but dont pay it in to sars what can we do.

How are one-off payments taxed?

  Written by Marc   Posted 3 April 2014

I have just started working as a freelance copywriter however this is not my main source of income. The work is a side-line and sporadic thing. I am about to be paid for a job I've completed and would like to know how I will be taxed for the job- in other words I really want to know how much money I will take home at the end. Is there a way for me to calculate this?

Won't I be penalised if I did not submit last year cos I did not have a medical aid?

  Written by Marc   Posted 3 April 2014

I receive my IRP5 every year, I never submitted them to receiver because all along I did not have a medical aid or a retirement annuity. Last year in September I then joined the Government medical aid and it was also stated in some articles that if you don't have one of the mentioned and earning below 250 000 per annum there was no reason to submit. This year I will do my submission since I have a medical aid.

My question is won't I be penalized for not submitting last year due to th...

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