Due date for ITR14 for CC's?

Posted 26 August 2015

When are Income Tax Returns (ITR14) due for CC's. Is it the same as for Individual Provisional Taxpayers?

Zero provisional tax return

Posted 25 August 2015

I am registered as a provisional taxpayer as I earn investment income however due to contributions made to retirement annuity funds I will not owe SARS anything. In fact I expect a refund. Do I still have to complete a zero provisional tax return?

Provisional tax for business and personal

Posted 25 August 2015

Last month I registered my company as a Pty Ltd (previously I was a sole proprietor and was being taxed in my personal capacity). I am paying myself a monthly salary from my company, plus charging the company for a portion of the cell phone bill, etc. With respect to provisional tax, are my following understandings correct:
(a) In general, do I need to pay provisional tax both in my private capacity and as a business?
(b) Do I need to pay provisional tax now [August] for my business? (if not, when will I first need to complete my provisional tax return for my business?)...

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When do I submit tax for the first time?

Posted 25 August 2015

In March 2015 I embarked on my freelancing career. I have been working for numerous companies of which some pay tax and some don't. I also have a business where I get a percentage of profit share. Am I correct in saying that I need to register to become a provisional tax payer and when do I file my first submission?

Provisional Tax Calculation

Posted 24 August 2015

how do i work out the estimated profits for provisional tax payment to be effected end of august?

Signature required while eFiling?

Posted 24 August 2015

When completing the IRP6 and ITR12 via SARS eFiling, what happens with the section where they request a signature. Does one ignore that when SARS eFiling?

Should I register for provisional tax if I have more than one employer?

Posted 21 August 2015

What do you do if you have more than one employer and thus have more than one IRP5 or IT3? Should you register as provisional tax payer or not?

Income tax return 2015

Posted 20 August 2015

I submitted two provisional tax returns for capital gains tax for 2014/2015. Now I want to submit my annual tax return (ITR12). I already have an IRP5 from my employer. What do I do with the provisional tax information? Do I include it on my annual tax return or what? Please advice

Must I pay provisional tax?

Posted 19 August 2015

I earn a salary of R5500 per month, I am under 65 years and receive interest and dividends of R25000 per year. What forms must I complete for my tax return? Must I pay provisional tax?
Thank you

My provisional tax paid to date totals more than my provisional earnings for tax year 2015.

Posted 17 August 2015

I have successfully completed my tax returns via SARS eFiling for several years. Reason for registering with your website is to get further advice on my provisional tax submissions (2015-1 / 2015-2) already made) and support with my salaried tax submission for 2015. I have already paid SARS two amounts totalling more than my provisional earnings for tax year 2015. So.. It's imperative that if I have overpaid SARS that I get this back when filing my tax return for 2015.

Are vehicle repayments tax deductable for a sole-proprietor?

Posted 17 August 2015

I am a sole proprietor in a health profession. I have an office, but I see a lot of clients at their homes or primary residence. I need a car to conduct my business, and have just bought a new car. What are the tax implications of this? Can I deduct the repayments and insurance premium as a business expense?

What to include as taxable income for provisional tax calculations

Posted 13 August 2015

When calculating "taxable income" on an IRP6 should one include
- expected investment interest ?
- expected investment share dividends ?

Thank you.

Is the Provisional Tax threshold inclusive of Normal Salary + My company paying me out (Dividend)?

Posted 12 August 2015

I registered a company and It was registered for income tax. I am the sole Director and shareholder. When it makes money and I pay some of this to myself am I liable for provisional tax? I know there is a threshold but does that threshold amount include my Normal Salary that I get from my employer?

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

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.

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

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 ?

First provisional tax payment - estimate

Posted 7 August 2015

Hi. My wife earned investment income and a salary last year. This year, she's now stayed at home with our daughter, and thus hasn't earned a salary - thus significantly less taxable income. For the first provisional tax payment, do I have to use the basic amount (i. E. Last year's taxable income) to calculate this payment? The payment will then end up being more than her annual tax is expected to be, as there is obviously no salary (and no corresponding PAYE). Or can I safely estimate a lower am...

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When are Trusts supposed to submit a ITR12 tax return?

Posted 4 August 2015

As far as I know, provisional tax payers should submit their tax returns end of January and companies end of February, of the following year of assessment. But when are trusts supposed to submit their tax returns if they are not registered provisional taxpayers?

What other document to be submitted?

Posted 30 July 2015

When is the due date to submit your tax returns?

Investment and capital transfer

Posted 29 July 2015

I have recently got married to a UK national and he is wanting to transfer some funds for an investment in SA. He is going to transfer the funds into my current account which I will then transfer into a unit trust.

Firstly do I need to submit a donations form they have on the SARS website and if it exceeds the R100,000 will it be liable for tax?
Secondly the income from the investment will be paid monthly. If it exceeds the R23,080 annual exemption what is the rate on the excess? Is it still taxable even if it is below R70,000 per year? I have no remuneration just the investment income....

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Additional freelance income declaration

Posted 29 July 2015

I am employed full-time but I did some freelance website development work this year in addition to my normal salary. I wasn't aware at the time that I was going to get the work so didn't submit any provisional tax beforehand. How do I specify this additional income on my tax return?

IT34 notice applicable to provisional tax payers?

Posted 29 July 2015

Does a provisional tax payer receive an IT34 notice or is this notice only applicable to personal income tax payers?

Should I pay tax?

Posted 28 July 2015

I am a self employed and on average make 240k per anum, prob less
How does it work with tax, should I pay, what bracket do I fall under?

Do I qualify for Turn Over Tax?

Posted 28 July 2015

I am a salaried worker paying annual tax. I also do part time photography on weekends. Can I register my photography business for Turn Over Tax? My annual turn over ranges between R150k-R300k. I have read all the qualifying questions for Turn Over Tax and qualify, but the question is; Is photography deemed as a professional service? It is not listed specifically in the SARS professional services.

How do I de-register as a Provisional Tax payer?

Posted 28 July 2015

I am registered a Provisional Tax payer, but I am now retired and will not earn enough to pay provisional tax any more. Do I have to de-register or can I simply stop doing provisional returns? The last one showed zero tax due.

How best to set up my photography business with regards to taxation?

Posted 28 July 2015

Hello Tax Tim I work as an analyst full time; and in my free time I follow my passion for music and photography and take photos at festivals, clubs, pubs and other events. I have been building up a profile over the past few years of my work and now I have artists and their relative management agencies showing interest in procuring some of my images.

I have not registered a company yet, nor have I sold any images as I first want to ensure I set up my "business" and contract documents correctly so my clients and I are covered fairly and equally...

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