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Tax Threshold Posts in Tax Q&A

Tax Threshold Related Posts - Page 15

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SA non-resident with rental property in SA what are the tax implications?

Posted 31 January 2014

I used to live and work in SA but then moved to the UK 8 years ago. Since then I have and still am working full time in the UK for a UK employer paying UK PAYE and now have UK citizenship.

For the last 4 years I have been sending money back to my SA bank account and used that money to purchase a rental property in SA.

As an example using dummy numbers for simplicity:
Purchase price: R100k
Deposit: R50k
Bond: R50k

Rental Income: R20k p.a....

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How will proceeds of shares sold to protect capital from an unstable market be taxed?

Posted 23 January 2014

Over a period of several years I was given about 25000 of my company's shares as performance awards and options. Usually I had to wait 3 years before I could take delivery of them but when I retired in 2012 the last of them became available to me immediately and I took delivery by the end of May 2012, planning to keep them indefinitely for their dividend income. In December 2012 I was worried about the US fiscal cliff situation and decided to sell them and have since kept the proceeds in a Money...

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Do I need to pay or declare income tax on donations received?

Posted 16 January 2014

Hi Tim, I have started a small web design business with a turnover of just under R60 000 per year. I am struggling financially, so my father has been helping me with another R60 000 per year as a donation. I have read on the SARS website that as a sole trader if I earn less than R250 000 per year I do not have to register with SARS and I have no need to register for VAT. My question is, do I need to register with SARS for income tax as my income falls under the threshold without the donation or ...

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Tax on Sale of Personal Website?

Posted 22 December 2013

I own a website that I started as a Hobby (showcasing information about various sports teams and tournaments). The novelty has since worn off and I now want to sell the website. I have never earned or attempted to earn revenue from the website. Would I have to pay tax on the sale price? If so, what type of tax would I have to pay? (I am currently below the age of 65 and unemployed).

The website was given to me as a gift quite a number of years ago. I have since purchased domain names ...

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Is it too late to submit an Income Tax Return after the deadline?

Posted 2 December 2013

am I too late to submit? If I earn R5500 per month, do I still need to submit?I dont have medical aid so do I just claim what I have spent?Up until when do I submit ?

VAT issues:registered vs non-registered vendors and correct manner of preparing invoice by non-reg?

Posted 28 November 2013

If a business is operating from home and provides basic bookkeeping services. Income generated is well below the VAT threshold and the client requires an invoice, what is the correct manner in which the invoice must be prepared by the bookkeeper? Client is a registered VAT vendor while bookkeeper is not.

SARS have taxed me 2 years in a row for same IRP5 and will not accept my NOO as was not within 30 da

Posted 26 November 2013

SARS have used same IRP5 2 years in a row

Why is the source code 4008 not displaying on my ITR12?

Posted 22 November 2013

I have medical expenses that were paid for by me and not recovered from the medical aid. Should this amount go under 4008? Why is the source code 4008 not displaying on my ITR12?

Taxation as a non-resident - possibility of double taxation on income earned in a foreign country

Posted 21 November 2013

Dear TaxTimI worked 3 months (March - May 2012) of the 2013 financial year in South Africa (for which I have the IRP5, included in my efiling ITR12), the total amount earned was R24,850. Since then, from June 2012 to present, I have been employed on a full time basis and continuously present in Chile (the period exceeds the number of days required to qualify me as non-resident for tax purposes in SA - 183 days) - for all of the 2013 tax period, I have not paid tax on this income in Chile, due to...

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My employer pays my med aid but its my money, how is this a fringe benefit?

Posted 21 November 2013

My employer pays my medical aid contributions but its coming out of my pocket. (CTC) it shows as income on my payslip. I incurred R7000 worth of medical expenses and am not getting anything back, is this correct.

My dad is a pensioner and receives R323 per month from his annuity, should he add this on his return

Posted 18 November 2013

My dad is a pensioner and receives R323 per month from his annuity, should he add this on his return? so over 12 months R3876 for the tax year?

Do I sumbit a tax return?

Posted 15 November 2013

How do I know whether I need to submit a tax return? I am registered but have never submitted a return. I find the sars website a little confusing as they state: 'You are liable to pay income tax if you earn more than R63 556 in the 2013 year of assessment, and are younger than 65 years of age. ' BUT also state: 'What is the threshold for the non-submission of ITR12 returns for individuals for the 2013 year of assessment?Although a taxpayer still has to register for income tax he/...

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Am I a provisional tax payer?

Posted 15 November 2013

If I earn less than R20 000 a year selling AmC pots plus earn a normal salary do I have to register as a provisional tax payer?

Minimum income required before I submit tax return?

Posted 13 November 2013

What is the income threshold for paying tax for 2013?

Problem with eFiling Tax calc?

Posted 12 November 2013

When submitting my eFiling I am unable to enter my Travel Claim details. Also, when I look at my Tax calculation there is a R0 total shown next to Medical Expenses.

Local taxation of UK Pension?

Posted 9 November 2013

I turned 65 in February and after a brief visit to UK established that I qualify for a small pension based on what I paid in before emigrating to SA. It amounts to some R40k per annum. I am presently unemployed (no salary presently) due to losing my business last year, but I am working on changing this situation (may be salaried later this year). Two questions:1) if un-salaried would this small amount of pension be subject to tax by SARS.2) if I had the tax from UK paid into my local bank accoun...

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Basic Salary Below Threshold + Extra Commission Earned

Posted 30 October 2013

I earn a basic salary that falls under the threshold (R5000 pm) but then earn commission which bumps it up over the threshold. Now this commission can vary, from R500 to well over R1000. How do you calculate this per month, as each month will fall into a different bracket (referring to the SARS monthly tax deduction tables). Do we simply look at the total amount and deduct the applicable tax applicable in that bracket each month?

Investment information to be added on the SARS form and capital gains on what I draw every month?

Posted 29 October 2013

Hi, I have and investment, local and foreign dividends, that I draw an amount off every month of R6 000, there is a capital gains on this. I do not own fixed assets of any sorts and do not have a job, so the R6 000 is what I live off. How does this work with the capital gains on the SARS form, surely there should be and exemption for this? Also, the SARS form only asks for foreign withheld tax on dividends and not the local withheld tax. In the exemption area under non taxable what net amount do...

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Outstanding tax returns - will I be penalised?

Posted 28 October 2013

I submitted my 2013 tax return and have a penalty of R500 for the 2007 and 2009 tax returns outstanding. How do I go about submitting these as I cannot find these loaded on my eFiling profile? And should I be paying tax if at that time I earned below the taxable threshold?

What if I earn different amounts per month, how is the tax calculated?

Posted 22 October 2013

What happens if my income varies in different months?Example:Jan-March I earn only R5,000 per monthApril & May I earn R6,500Remainder of the year I earn R5,000I am registered for tax so should I immediately be taxed for the months I earn R6,500?What if it varies even more and I earn a range from R5,000 to R5,990 each month so it goes untaxed but my years payment is over the non-taxed payment collectively for the year, How can I estimate how much I should have in savings if I am requested for...

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When do complete tax on new job?

Posted 22 October 2013

If I started a new job on the 1st of September, 2013. Am I required to do a tax return before tax season ends next month or do I only do my tax next year? Current salary is R5,000.

How much must you earn to qualify for a tax refund?

Posted 18 October 2013

How much must you earn to qualify for a tax return?

What the amount I am allowed to earn per year with my pension? I am over 70.

Posted 23 September 2013

I am 73 years old and cannot live on my pension so I have gone back to work. How much am I allowed to earn to be exempted? Is there no exceptions for the people over 70?

Parents over 80yrs old, income of 350K/yr from rentals, do they need to pay tax?

Posted 18 September 2013

My parents are over 80. The only income they enjoy is from 5 rented cottages on the property where they collect on average ZAR 6000/month. This equates to a total income of around ZAR 350K/yr. They claim they do not need to pay tax on this nor need to complete a tax return!? Is this true?!

They are cashed up, do not have or service any debt. The only significant asset they own is the single property on which they both live and rent the cottages out.

Penalized for not paying tax (low income)?

Posted 17 September 2013

Will one get penalized for not paying a personal income tax, even if you submitted your form? If so what would it be? This is for a low income wages.
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Blog Categories

Get FREE Help with your Tax Return today from

TaxTim's award-winning tax return services are now free to all Momentum policyholders and Multiply clients:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started