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
Written by Marc
Posted 10 August 2013
Written by Marc
Posted 8 August 2013
Written by Marc
Posted 8 August 2013
I put my parents on a medical aid and my Mum is the principal member with my Dad and sister as dependents. However, for ease of convenience the debit for the medical aid goes off my bank account and not theirs, but my Dad pays me back by paying off my other accounts.
When I submitted the claim, I put this medical costing as a claim on my Dad's return - what was owing to him is now him being held liable to pay SARS that money back. Can they do this??
I have my own medical aid with my da...
Written by Marc
Posted 7 August 2013
Written by Marc
Posted 7 August 2013
Written by Marc
Posted 7 August 2013
If I qualify to claim Home Office (Code 4028) expenses and I want to claim this, what is applicable? Note that I own the house and I have the square meters of both my office and my house. My office adheres to the criteria. My question is related to the claim amount.
Tax specifies: A- the area in m2 of the area specifically equipped and used regularly and exclusively for trade divided by B- the total area in m2 of the residence (including any outbuildings and the area used for trade in the residence) multiply by Total Costs the costs incurred in the acquisition and upkeep of the property (excluding expenses of a capital nature)....
Written by Marc
Posted 7 August 2013
Written by Marc
Posted 7 August 2013
I submitted my return and supporting documentation and I received notice on e filing that my return is referred for audit. I called SARS and they advised that the turnaround time can be anywhere from 3 to 12 months for an audit to occur. They advised that all refunds over R10 000 go for audit. Because I work on commission and claim expenses my refunds are always greater that R10 000, but never takes more than about 2 - 3 weeks.
Is there any way I can speed the audit process up for th...
Written by Marc
Posted 7 August 2013
Written by Marc
Posted 7 August 2013
In April this year we found out that our tax returns for 2010 and 2011 were never submitted by my company, so I did it ASAP. With the new tax return for 2012 we owed SARS money and they told us to pay it and we did. In May we found out that there was a penalty of R1250 so we paid that as well. So now we have made two payments to SARS and still no refund. When I call them they said I need to bring the deposit slips and I did and they said it will be any time in may that the return will be paid out. We are now in August and still no refund has been paid out. ...
Written by Marc
Posted 7 August 2013
Written by Marc
Posted 7 August 2013
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