Electronic refund and reversal on my ITSA from SARS?

  Written by Marc   Posted 7 July 2014

My ITSA for 2014 shows an electronic refund then a reversal. And I submitted my return on the 1st of July and still haven't received my refund. What does this mean?

Tax calculation on R850 000

  Written by Marc   Posted 7 July 2014

How much tax will I pay on R850 000 say if I resign end of this year

Statement of Local Assets and Liabilities (SOALA01) on personal tax return?

  Written by Marc   Posted 7 July 2014

My personal tax return is asking me to fill out a Statement of Local Assets and Liabilities (SOALA01).
Why am I been asked to do this? How can I get it away?

I work at a company and earned some income from unit trust investments. I don't own a business.

Office Expenses Disallowed?

  Written by Marc   Posted 7 July 2014

I have submitted my tax return and submitted the supporting documentation after a request to do so for an assessment/audit. I have received the outcome of the assessment to say that the home office expenses are disallowed. Which is odd, seeing as I went through the same process last year (including assessment) and they were allowed. I have two IRP5's from different employers and for the one, I 100% do the work from home. Is it worth disputing the outcome of the assessment or should I just le...

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Can I redo my tax return after submission?

  Written by Marc   Posted 7 July 2014

Can I resubmit my tax return after I eFiled? I am not happy with the figure?

Medical Aid deduction not calculating on eFiling?

  Written by Marc   Posted 7 July 2014

I pay my medical aid out of my own pocket every month and I have 3 dependents. When I fill out my medical aid on my e-filing section (4040 and 4020), the tax calculator does not change. I am sure I should be receiving something back for medical expenses. I pay - R5000 per months for medical aid and I have also had around R14 000 expenses that the medical aid did not cover. Is there something wrong with eFiling ?

When does SARS pay the refunds in 2014, is it still within days like the years before?

  Written by Marc   Posted 7 July 2014

I submitted my 2014 SARS returns on the 5th of July 2014.I got an SMS from SARS this morning (07/07/14) which says my first payment (refund) will be on the 1 of Aug 2014 and the 2nd one of the 31st of Aug 2014.
Am confused as to what this means cause previously,their turn around time on Refunds was anything between 2 to 4 days.Please could you help me understand.

Registration of 2nd vechile

  Written by Marc   Posted 7 July 2014

how do I register a second vehicle? We sold one and bought a new one in January?

Tax on interest when abroad

  Written by Marc   Posted 7 July 2014

Regarding the residency question - If you earn interest(South African source) with no other income, spend more than 183 days out of the country, will that interest be subject to tax. Lets assume the interest earned is R250 000 for the year. If this isn't tax free, would the opposite be true where by the interest is from a foreign source yet you are resident in SA but do spend more than 183 days out of the country.

Internship Tax

  Written by Marc   Posted 6 July 2014

If I interned for 2 weeks and paid tax but got paid less than R67K, can I claim the tax back?

Company car, claim back business kms at end of month where do I put it in on my tax return?

  Written by Marc   Posted 6 July 2014

If I drive a company car and claim my kms travelled for business back at end of the month where do I put that in on my tax return?

Reviewing assessment

  Written by Marc   Posted 5 July 2014

I got this message on my eFiling profile. Can you please tell me what it means?
Please note that your return cannot be processed as SARS is currently reviewing your assessment. The return will be reviewed as part of this process. SARS will advise you on the outcome in due course

And also it says selected for audit or verification. How do I know which one?

Can renovation costs be considered maintnance costs?

  Written by Marc   Posted 5 July 2014

I use my home as a home office and to this end, claim office expenses (15% of household expenses such as levies, electricity, insurance etc). I did some major renovations during the last tax year, can I claim a portion (15%) of these renovation costs as a maintenance cost?

Do I need 2 tax numbers 1 for my business and 1 for myself?

  Written by Marc   Posted 5 July 2014

I am unemployed and would like to start a small business.
I am planing to open a business bank account under (CT Plumbing). Sole Priority.
1.) Do I have to get a new tax number from SARS for this business or can I use my tax number when I was still working for a company?
2.) If so how many tax numbers should I have? for example one for my business and one for me?

I have 1 of my 2 IRP5's, the second is still pending. Can I submit the first so long?

  Written by Marc   Posted 4 July 2014

I have 1 of my 2 IRP5s. the 2nd is still pending. Can I submit the one return for credit so long and then file the 2nd one when I get it?

Where is the link to do the calculation of depreciation of the lapto, motorcar etc?

  Written by Marc   Posted 4 July 2014

There is more than one place that you said " use the computation machine worked out" But there is no link. How am I suppose to do it?

Im myopic a disability for tax purposes?

  Written by Marc   Posted 4 July 2014

In 2012, August, my optometrist diagnosed with a condition, I think it was myopic (where one is unable to see objects, especially when they are far), then, he gave me spectacles to correct this. This year, I did an eye test, without spectacles, and I failed. I check SARS website, this qualifies to be physical impairment, which is regarded as a disability, Question, what are the tax consequences of this,

Earning R6 500 can submit tax return

  Written by Marc   Posted 4 July 2014

I am earning an amount of R6 500 monthly, am I entitle to submit my tax returns cause some said I must earn more than R10 000 monthly to submit

Medical tax credit

  Written by Marc   Posted 4 July 2014

What is medical tax credit?

How can I get my tax number

  Written by Marc   Posted 3 July 2014

How can I get my tax number?

I was dismissed and my pension is around R26 000, so after tax how much will I get?

  Written by Marc   Posted 3 July 2014

How much will I keep after being taxed R26 000 of my pension?

Medical deductions for a daughter, can they be claimed?

  Written by Marc   Posted 3 July 2014

A work colleague's daughter who is not considered to be a dependent in terms of sec 18, as she works and is 31, of the income tax act ended up in hospital last year with tick bite fever. The bills amounted to about R220 000. The mom paid all the bills for the daughter and wants to know if she can claim these under her tax return as her daughter earns so little there will be no tax paid back. The daughter is not on a medical aid of her own and is also not on her moms medical aid.

Source code 4008 is not on my IRP5?

  Written by Marc   Posted 3 July 2014

Why source code 4008 is not on my IRP5?

Travel claims using TaxTim?

  Written by Marc   Posted 3 July 2014

Can you claim back if I'm using a company vehicle, the company is paying all the expenses The code on my IRP5 is code 3802 and I do have a logbook?

Tax deduction on invoice made out in someone else's name

  Written by Marc   Posted 3 July 2014

Question: For disability tax, can I claim a qualifying expense that I paid for although the invoice from the service provider was made out in the name of my wife?
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