I only started working this year, do I receive a tax refund?

  Written by Marc   Posted 11 July 2013

I started working on the 2nd of January and therefore my tax was below the threshold to submit my tax. I have heard that I can get all my tax for the first two months and was wondering if that was true?

I submitted my income tax return on 2013-07-10 & monies due to me is R2000-00.

  Written by Marc   Posted 11 July 2013

Is it possible that SARS can refund within 24hrs?

Why do I owe SARS money?

  Written by Marc   Posted 11 July 2013

Good day, I have a very straight forward tax return: I have an income, I receive a monthly reimbursement towards medical expenses (my husbands company pays for my medical aid) This is added to my monthly income and taxed. I pay PAYE and UIF and my RA is deducted from my salary. I have never owed SARS money until this year. I cannot understand why I would owe SARS money now? It's a very small amount that SARS say I owe them, however I am sure there is a problem and would like to get to the bottom...

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How will I know if SARS audit is complete?

  Written by Marc   Posted 11 July 2013

I have submitted tax returns for 2011, 2012 and 2013 to get it all up to date. 2013 was not audited and they owed me R3600. 2011 and 2012 I was also owed money, but had to submit supporting documents as they had doubled the medical aid amount for sum reason. The Status says the documents have been received but take up to 5 days to be assessed. Today I received a Refund of R600 and they took R3 000 as an Admin Penalty Fee. A bit extreme as I had received a letter saying the penalty fee would only...

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what does AVS Bank with AVS verification pass mean?

  Written by Marc   Posted 11 July 2013

On my SARS eFiling the SARS status says AVS Bank with AVS verification pass. But what does this mean?

I have started working in July 2011 and tax is deducted in my salary. Will I get my tax money back?

  Written by Marc   Posted 10 July 2013

As I was not supplied with the IRP5 and just got it this month. Will I get all my money back as this is the third year without claiming the money?

Are some tax payers exempt from completing a tax return in South Africa?

  Written by Marc   Posted 10 July 2013

Are some tax payers exempt from completing a tax return in South Africa?

Second question: What is the current tax threshold which I understand as not having to pay tax if you earn less than the tax threshold, correct?

Can I claim study fees reimbursement?

  Written by Marc   Posted 10 July 2013

I am a salaried, permanently employed person. I claim on a semester basis (based on what I pass), the module registration fees and textbook fees. Up until about a year ago, I would receive the full amount claimed from the company. Now I don't. When I queried this I was told that I am paying tax on the amount that I claim to the tune of 40% or something. I was also told that if I had allowed the company to register for me etc then obviously I wouldn't pay anything unless I fail a module.
...

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Why do I need TaxTim if I have eFiling?

  Written by Marc   Posted 10 July 2013

Why do I need TaxTim if I have eFiling?


THANK YOU

Can I claim for the depreciation of my vehicle for which I get an allowance or is that included?

  Written by Marc   Posted 10 July 2013

I get an allowance of R48 000 p.a and I incured costs of R75 000 inlcusive of the lease payment for the vehicle in my name. I also incured personal expenses of R765 not recovered from the medical aid. The SARS calculator retuned R9885. I dont think thats right.

Provident fund payout in 2013 assessment year

  Written by Marc   Posted 10 July 2013

Hi Tim, I received an IRP5 for provident fund for Year of assessment 2013. I included the amount of R416 363 (source code 3920) in my "income received" column, on the IRP5 they included this amount in the "Gross Non-retirement Funding Income" (source code 3698) column. However when I include it in this column on my return I get a message that the calculations does not add up.

I eventually included in the "Gross Retirement Funding income" (source code 3697) column (which is not correct) and they calculated it. BUT NOW my inital calculation was tax refund of R 4800 but after the second calculation I'm down to R0!! ...

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I bought a flat and hire it out in order to supplement my income, how does the income tax work?

  Written by Marc   Posted 10 July 2013

Due to medical reason I am on early retirement and receives a monthly pension. With my lumpsum I bought a flat for R840 000.00 in July 2012. My rental income is R3500.00 a month for the period 01/08/2012 to 28/02/2013. My expenditures are as follows: Cost of transport was R26 737.00
Levies (period 13/07/2012--28/02/2013 ) was in total R5435.81.
Where and under what code do I fill in the amount? Can I deduct the expenditure as mentioned from my rental income?...

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What about monthly expenses incurred like loan repayments and clothing ,school fees.car payments?

  Written by Marc   Posted 9 July 2013

do we claim for tax purposes?

Over 65 tax returns. Are they still required?

  Written by Marc   Posted 9 July 2013

I am over 65, a UK national with SA permanent residence. I have been out of SA for a number of years. My last SA tax return was in 2002. Some of my pensions are paid into a UK bank after UK tax has been deducted. I am registered with SARS eFiling. Whats my next step for 2012/2013 tax return?

Tax and business Registration?

  Written by Marc   Posted 9 July 2013

Hi Tim

I am looking to start a business from home. Myself as the owner and 8-9 employee's. Business could generate about R40 000 pm before deductions. Employees would get paid weekly between R600 - R800
per week.

Would I need to register my business with CIPC and with SARS to pay tax. Would I pay tax on the amount of money the business makes before any deductions like salaries and business expenditure. or would tax be calculated on the amount after deductions.

Could you also advise what the process is to register a small business....

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Can a wife claim on her late husband's tax?

  Written by Marc   Posted 9 July 2013

When a spouse dies (it was after the tax year), is the spouse entitled to claim this? If so, would it need to go through the estate or would it go directly to the spouse? This with being married "in community of property"

How do I know if SARS has completed assessing my return?

  Written by Marc   Posted 9 July 2013

HI there

I have submitted my return and my eFiling status says assessment received. I have received my ITA34 and have drawn up my Statement of accounts on my profile. I have not been selected for an audit and the amount specified is in a negative balance which I know means that money is due to be paid for me.

Does SARS send extra confirmation that they will be paying this out and how long does it take to receive my tax return?

Hope you can help me as This is the...

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Claim back for giving to PBO?

  Written by Marc   Posted 9 July 2013

What is the source code to claim on my tax return from giving to a public benefit organization?

Are student loan repayments tax deductible?

  Written by Marc   Posted 9 July 2013

I am employed full time, and was wondering if student loan repayments are tax deductible?

Retirement Annuity and Pension Fund claims on the ITR12 tax return?

  Written by Marc   Posted 9 July 2013

I know you claim the RA under the deductions on the ITR, but can you claim the premiums paid toward a pension fund as well and if you can where?

I am a freelance pilot, can I claim the cost of renewing my pilots licence ?

  Written by Marc   Posted 9 July 2013

or keeping them current if not used for a certain no of hours per year, as I have more than one? These are requirements from the CIA

section 18 medical deduction?

  Written by Marc   Posted 8 July 2013

I just want to know how do I calculate family limit for 2013 year of assessment. How much per month for taxpayer and first dependent and the other dependent?

Are UK pensions liable to South African income tax?

  Written by Marc   Posted 8 July 2013

Are UK state pensions or UK company pensions, paid into the UK Bank account of a British national, who is resident as a retired person in South Africa, liable to South African income tax?

If I use your online digital tax assistant application will it correctly cope with such overseas pension income?

Tax Returns and Refunds?

  Written by Marc   Posted 8 July 2013

How do I know if I will receive any returns this year when I submit my tax return?

Disclosure (Forex, shares, unit trusts)

  Written by Marc   Posted 8 July 2013

Is there a need to disclose that I trade forex online even though I am sitting on a loss?
Is there a need to disclose for this assessment period that I had share investments and unit trusts, I disposed all shares and part of the unit trusts end of March i.e. outside the current assessment yr. after holding them for less than a year (wedding expenses over budget)?
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