Written by Marc
Posted 15 August 2013
Written by Marc
Posted 15 August 2013
Written by Marc
Posted 15 August 2013
Hi Tim,
One of my family members has never submitted a tax return and only actually registered for tax about a year ago. He has been working for about 13 years. That being said, 4 of those 13 years he worked overseas (he worked on the cruise ships were he earned tips only), for 3 years he worked as a waiter where he earned cash and was paid a minimum wage and 5 years as a restaurant manager where tax was deducted from his monthly salary, however, he was never registered for tax by his employer or on an individual capacity. Like I said, he only registered and got a tax number last year (2012). ...
Written by Marc
Posted 14 August 2013
Written by Marc
Posted 14 August 2013
Written by Marc
Posted 14 August 2013
Written by Marc
Posted 14 August 2013
Written by Marc
Posted 14 August 2013
Written by Marc
Posted 13 August 2013
Written by Marc
Posted 13 August 2013
Written by Marc
Posted 13 August 2013
Hello, Within the last tax year I changed jobs and in doing so had to transfer my pension fund from my former employer to my Retirement Annuity as my new employer does not offer a pension fund. On my ITR12 issued on e-filing I can see this lump sum pension fund amount reflected on a separate page with a directive number. Also I received a certificate from my Retirement Annuity institute reflecting my contributions for the tax year and this included the lump sum the I transferred.
My ...
Written by Marc
Posted 13 August 2013
Written by Marc
Posted 13 August 2013
Written by Marc
Posted 13 August 2013
Hi Tim
I have a question:
I have submitted my tax return on the 1st August 2013 then on the 3rd of August they asked that I should upload all my documents. It is now the 13th of August and I have not heard anything yet from SARS. On my e filing my SARS status says "AVS bank with AVS verification pass" and my e filing status says "Assessment received". I have not changed my banking details recently, so I do not know what is up.
I tried to call the call centre but after holding on for 20min with no one picking up I gave up....
Written by Marc
Posted 13 August 2013
Written by Marc
Posted 13 August 2013
Hi Tim,
I submitted my return and was asked for supporting docs which I duly submitted. Today I received a Completion Letter from SARS and just uploaded it to find the following:
-------------------
Dear Taxpayer
VERIFICATION OF ASSESSMENT
We refer to the verification of your assessment for the 2013 tax period. Please note that no adjustment has been made to this assessment. However, in terms of the Tax Administration Act the South African Revenue Service reserves the right to conduct further reviews in future if required....
Written by Marc
Posted 12 August 2013
Written by Marc
Posted 12 August 2013
Hi there,
Which expenses may be deducted from rental income? Repairs, levy, rates & taxes?
Also, for this particular property, we lived there for 6 months of the year, so can we claim 100% of the expenses incurred for repairs even though we only earned rental income for 3 months of the tax year?
Also, my husband and I are both owners of this property, can I include this property on my tax return only or do we need to split the gain/loss made?
Thank you! ...
Written by Marc
Posted 12 August 2013
Written by Marc
Posted 12 August 2013
Written by Marc
Posted 12 August 2013
Written by Marc
Posted 11 August 2013
Hi Tim. Do I understand that the R 7,000-00 write value is a once write off for items less than R 7,000-00?
What is the situation then if I start my business with the simultaneous purchase of e.g. four lawn mowers at R 6,000-00 each. Total cost = R 24,000-00 but I may only write off a once R 7,000-00 ?
What then happens if six months later my business requires one additional lawn mower again at R 6,000-00, and e.g. two months a brush cutter at R 6,5000-00. What may then be written off, if anything?...
Written by Marc
Posted 11 August 2013
We are married in community of property with one bank account in my name. My wife and our children have individual credit cards on the account and all my wife's income as well as tax refunds are paid into it. She is the principal member of our medical aid. Me and her use the bank account to pay medical expenses via credit card and EFT.
Will SARS disallow medical expenses paid from this account in my name, even if it is for her and our children? I settle medical bills via EFT, any one ...
Written by Marc
Posted 10 August 2013
Written by Marc
Posted 10 August 2013
Do Your Tax Return Easily