Taxable Benefits

  Written by Marc   Posted 12 August 2015

Our company provides a contribution towards provident fund based on 15% of basic salary. Does this form part of your taxable income. Were should it be recorded on the IRP5

I have a question regarding renouncing U.S. citizenship and filing U.S. taxes.

  Written by Marc   Posted 12 August 2015

I have a question regarding renouncing U. S. Citizenship and filing U. S. Taxes. I have used Person A and B for this example. June 4, 2014 â%u20AC%u201C Person A and B renounced their U. S. Citizenship at the U. S. Consulate General. March 12, 2015 â%u20AC%u201C Person Aâ%u20AC%u2122s Certificate of Loss of Nationality was approved by the Department of State in Washington, DC. Person Bâ%u20AC%u2122s Certificate of Loss of Nationality was (according to a document dated May 12, 2015) approved on December 23, 2014. Would either person be required to file a U. S. Tax tax return for 2015 for the months before the renunciation was complete?...

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Is there income tax payable on interest received from SARS?

  Written by Marc   Posted 12 August 2015

Is there income tax payable on interest received from SARS?
Which section in the tax act does this come from?

Refund delay from SARS for 2015?

  Written by Marc   Posted 12 August 2015

I received an assessment stating that, amount due is -R4968,33. How long does it take to process payment after submission?

Should I do a tax return if my business revenue was less than R 350,000.00 for the year?

  Written by Marc   Posted 12 August 2015

Hi guys,

I've got a sideline business (CC), and our revenue was WAY less than R 350,000. 00. Should I still process a tax return?

Have not received my money from SARS yet?

  Written by Marc   Posted 12 August 2015

I submitted my documents to SARS and I already know my amount that I will receive back from SARS via sms the lady told me that I will have my money in my bank account in 2 days but still after 2 weeks now haven't received any payment from SARS

Explain to me how does provisional tax work or who should submit and how often ?

  Written by Marc   Posted 12 August 2015

Explain to me who qualifies to submit provisional tax and how often? If you are sole trader, pty, cc, trust account.

Tax on living annuity?

  Written by Marc   Posted 12 August 2015

I currently contribute to a provident fund as well as my employer. My portion is taxable and the employer's not. When I retire I plan on investing in a living annuity, will the income from the living annuity be taxable?

Can I correct an already sumbitted tax return?

  Written by Marc   Posted 12 August 2015

I submitted my tax and was told how much of a R,,,, amount I will be getting back(great news). However straight after I submitted I realized there is a stack of receipts at home for medical bills that I did not enter. Is it too late to correct the already submitted tax return?

How long will it take to get assessed and refunded( it will definitely be more than the R,,, amount they gave me today). How long do I have to make a correction if I can?

House/car repayment - tax benefits

  Written by Evan   Posted 12 August 2015

Are there any tax benefits when you are paying off a bond, car or any property?
Does that affect the person who is paying the loan or the person receiving payment, or both? As far as disclosing this on the tax return as a deduction or otherwise.

Income whilst working outside of South Africa

  Written by Evan   Posted 12 August 2015

Can you please clarify this question for me: "Did you earn any income whilst working outside of South Africa?"
My answer is yes but this income is non-taxable in South Africa because I was not physically present in South Africa. I am only filing my income tax return do to a loss on my SA rental property.

Once off amount for Tax?

  Written by Marc   Posted 11 August 2015

If I get a lump sum of R110 000 how much tax will I pay? How do I pay the tax only next year or can I pay it when I get it?

SARS says submit my 2011/2012 tax returns but I wasnt employed nor did I have tax number

  Written by Marc   Posted 11 August 2015

I emailed SARS to enquire why my 2015/2015 tax returns have not been paid to me yet and they replied saying my 2011/2012 tax returns were not submitted so until they receive that then they will be able to pay me. However I received my 2012/2013 tax returns with no problems as well as my 2013/2014 tax returns as well. I don't really understand this because in 2011 - 2012 I only had a casual job for 2 months in which my wages were way below a tax bracket and I had no medical payments of my own nor...

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Can't read Completion Letter

  Written by Marc   Posted 11 August 2015

I was asked for supporting documents despite only having an IRP5 and claiming nothing else! (Calculation came back saying I am owed a particular amount). Submitted it and got a "completion letter" which I can't seem to open. What do I do? Just wait for a refund?

Can an individual get an income tax number from SARS if he is in the process of sequestration?

  Written by Marc   Posted 11 August 2015

Can an individual get an income tax number from SARS if he is in the process of sequestration?

Can I submit my 2014 actual personal income tax now without my provisional for 2014 being submitted

  Written by Marc   Posted 11 August 2015

I have not submitted my 2014 income tax return and provisional . How do I go about it now ?Should I submit my Both of them now or only my actual income tax return ?

Logbook requirements for SARS for claiming travel allowance?

  Written by Marc   Posted 11 August 2015

I hadn't submitted my tax forms from 2009 and 2010 (although SARS had owed me money in each of those instances) but I'm trying to resubmit now. I got paid for some of the travel that I conducted from my business (roughly R4/km) and I kep an online logbook on Excel. Is this sufficient for SARS or do I need to fill it out on an official SARS logbook?

Very simple

  Written by Marc   Posted 11 August 2015

Can you give me my tax number please I have a new job and they need it urgently

If I get a 750k - 800k per annum job offer, how much tax will I pay and how much will I net?

  Written by Marc   Posted 11 August 2015

If I get a 750k - 800k per annum job offer, how much tax will I pay and how much will I net?

When can I expect my refund?

  Written by Evan   Posted 11 August 2015

I have received a completion letter from SARS, saying that no amendment has been made. How long until I get my refund?

Correction not amended on eFiling

  Written by Evan   Posted 11 August 2015

Hi Tim. I submitted my tax through SARS efiling. I am claiming for medical expenses not covered by Medical Aid. The amount to be paid out to me was R5 700. I then had to make a correction as I found another slip which was a lot of money, so I filed for a correction. The amount they paid out in the end, still reflected the initial amount of R5 700. What should I do?

What percentage tax do pensioners pay?

  Written by Evan   Posted 11 August 2015

If you earn a gross monthly pension of R40 000, how much tax do you pay?

Why is payment taking so long after uploading docs?

  Written by Evan   Posted 11 August 2015

I have submitted my tax return for 2015 via SARS e filing but they keep asking me to upload supporting documents, which I do and then they tell me two weeks later that they have not received them. Calling them or going to their offices is mission impossible, and I am waiting for a month for my payment.

Is there anything else that I can do to follow up on the process?

Amount not covered by medical scheme - do I owe SARS?

  Written by Evan   Posted 11 August 2015

I got a letter from my medical aid saying "the amount not covered by scheme is R1092". Does this mean I owe SARS?

Account for Rental income and expenses together with my normal PAYE

  Written by Evan   Posted 11 August 2015

I have a rental property which I have been receiving income for in the last tax year. This is the first year that I have owned and rented the property. I also earn income from an employer but have paid PAYE on this income.

The tax return is easy enough without the rental income and expenses but I need help presenting the income and allowable expenses related to the rental income. Does your lite service include accounting for income and expenses for a rental property? I have all the i...

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