Second provisional tax calculation and supporting documents required?

  Written by Marc   Posted 30 January 2014

How do we calculate second provisional tax and what documents are required?

Contract worker for two months - tax & UIF deductible?

  Written by Marc   Posted 29 January 2014

I'm currently employed on a two month contract, should tax be deducted or not?

Can PAYE tax be taken off my salary if I earn less than R54 000 for the year?

  Written by Marc   Posted 28 January 2014

I have a 6 month internship and am being paid R9000 per month. For my first salary I only received R6918. As my contract is only for 6 months and its R54 000 for the year can I be charged PAYE as its less than the required yearly salary to be eligible to pay tax? If I have to pay PAYE, can I claim this money back and how soon?

Can input VAT be claimed on assets used for staff entertainment?

  Written by Marc   Posted 28 January 2014

If a business buys assets for staff entertainment : like coffee machines, pool table for the canteen, any furniture that can be used by the staff for staff entertainment. Can you claim input VAT?

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

  Written by Marc   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?

Is a Disability benefit a form of income protection for tax purposes?

  Written by Marc   Posted 27 January 2014

Some Life insurance policies have a life insurance and a disability benefit. Can the contributions to the disability portion of the policy be tax deductible?

Business expense refund?

  Written by Marc   Posted 27 January 2014

I have my own private practice. What percentage of my business expenses occurred throughout the year can I expect to get back?

Pension fund deduction claims?

  Written by Marc   Posted 27 January 2014

I am salaried individual PF deducted @12% , apart from that I am contributing to VPF also(Which is under 80C).

When ask for tax exemption for the VPF amount what I had paid, they say you are not eligible to claim, since already 12% deducted from your basic.

Please any document proof if available

How much tax would be deducted on a R12,500 monthly salary?

  Written by Marc   Posted 25 January 2014

How much tax would be deducted on a R12,500 monthly salary?

Is rental income from my primary residence taxable?

  Written by Marc   Posted 24 January 2014

Occasionally I rent out the spare bedroom in my primary residence. I'm not running a guesthouse - it's just a way of making a tiny bit of extra income and meeting some interesting people. I don't often have people staying - maybe for a total of 30 days out of the year. Do I need to declare this as "rental income"? If so,
1. What expenses can I claim against this income?
2. Where do I put it on my return? I'm already using the section "Local business, trade and professional income" for ...

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Is my overseas earning exempt from tax?

  Written by Marc   Posted 23 January 2014

I was working in USA from October 2012 to May 2013 (without coming back home)
I paid Fed and State tax in USA over the period.
So for the 2013/2014 individual tax year.
I was out the country for more than 60 days in one go but not more than 183 in this particular tax year.
Questions are:
1. Are my earnings overseas exempt? or if not
2. Will I include the earnings and get a taxable deduction for foreign taxes paid?

Turning 65 during a tax year; are >65 deductions apportioned?

  Written by Marc   Posted 23 January 2014

If a taxpayer turns 65 during a tax year, are the >65 benefits applicable for the full tax year or are deductions apportioned?

tax rebatre for branded vehicles

  Written by Marc   Posted 23 January 2014

What are the rules regarding company vehicles and branding of company vehicles, is there a tax benefit to the driver of a company vehicle if it is branded?

How do I process my income tax return?

  Written by Marc   Posted 23 January 2014

How do I know if I got money from SARS and how can I claim it?

Removing uploaded documents off sars e-filing

  Written by Marc   Posted 17 January 2014

Is there a way to remove supporting documents that I have uploaded on the SARS eFiling website?

Do I need to pay or declare income tax on donations received?

  Written by Marc   Posted 16 January 2014

Hi Tim, I have started a small web design business with a turnover of just under R60 000 per year. I am struggling financially, so my father has been helping me with another R60 000 per year as a donation. I have read on the SARS website that as a sole trader if I earn less than R250 000 per year I do not have to register with SARS and I have no need to register for VAT. My question is, do I need to register with SARS for income tax as my income falls under the threshold without the donation or ...

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Can you offset initial expenses against future income all from the same tax year?

  Written by Marc   Posted 16 January 2014

If you have just started a business and have not earned income yet, would you be able to deduct the initial expenses from future months when you do earn income? Please note that the income and expenses fall within the same tax year.

If I am a new Estate Agent what do I need to pay tax?

  Written by Marc   Posted 16 January 2014

If I am a new Estate Agent what do I need to pay tax? I would prefer to pay my own tax rather than the Agency.

International Tax and Tax Treaties

  Written by Marc   Posted 15 January 2014

Dear Tax Tim

I earn international income as an individual (not a registered company ) on a monthly basis, what type tax will I be liable for in South Africa? Will I have to pay standard income tax in South Africa?

I earn this whilst in South Africa and not abroad as a monthly commission payout. How does tax treaties apply to foreign income or will this not be applicable to individuals?

Are private medical expenses especially in terms of drug treatment a tax deduction?

  Written by Marc   Posted 14 January 2014

I recently attended an out-patient drug treatment programme at personal cost roughly equal to 1-month's salary. Is there any tax deduction for this non-medical scheme related expense?

Medical aid 3810 fringe benefit tax

  Written by Marc   Posted 11 January 2014

I have submitted my return for 2013, but under source code 3810,I have employer tax contributions on my behalf,where they are paying half. I pay the other half which I claim as a deduction.

It seems as tho I am paying tax on this 3810 amount-as it is a taxable fringe benefit,(R16807)
Can I claim back ?(in addition to claiming my contributions as a tax credit)

Am I tax resident?

  Written by Marc   Posted 10 January 2014

Hi Tim,I was born in South Africa, however have been living out of the country for the last 7 years. (6 of which were spent in the UK). I have recently returned, but not on a permanent basis, as my main income comes from freelancing in the UK, and my partner is only here on a visitors visa. I have however been in the country for more than the 183 days this tax year. Will I need to pay SA tax on my UK income? I am still registered for UK tax, so I will be paying UK tax on that income as well.

Foreign student earning salary and noticed 25% PAYU deduction??

  Written by Marc   Posted 8 January 2014

I am a Dutch student doing research work twice a week with a local university, I am legally allowed to work and earn a salary with the university.
I however received my first payslip and notice PAYE deduction of 25%, will this money be lost or can I claim it back when I go back to Holland??

Hope to hear from you

Thx

Amount of PAYE and UIF deducted from a salary of R9500

  Written by Marc   Posted 8 January 2014

How much PAYE and UIF would I pay if I earn R9500 a month?

Medical calculation for source code 4008 for 2011 and 2012?

  Written by Marc   Posted 8 January 2014

Everywhere I can find a formula on how to calculate the 2013 medical deduction code 4008, but nowhere one for 2012 and 2011. Your example for the 2013 helped a lot, thanks for that. Can you maybe also give one for the 2011/12 please.
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