What is your tax code on secondary income if you are permanently employed as well?

  Written by Marc   Posted 25 March 2013

If you are working full time and also earning part-time income after hours, from a home based office, what will be the tax code for your secondary income and will you be allowed to deduct office expenses?

What form must I file with SARS, an ITR12 or an IRP6 ?

  Written by Marc   Posted 22 March 2013

I bought an appartment in April 2012 and rent it out. My total income (April 12 to Feb 2013) is R46,000 and my expenses (interest, levies, etc) are R41,000. Total income :R5,000 I haven`t registered myself as a provisional taxpayer. So what should I do for the 2013 Tax return ?
Should I reflected those number on my IRT12 ? or should I register myself on IRP6 ? or should I do both ?

How do I correct a mistake that I have made on my tax return that resulted in a penalty by SARS?

  Written by Marc   Posted 22 March 2013

I submitted my tax return for the 2012/13 financial year. I was requested to submit supporting documents, which I did. I was informed that I owe a sum of +-R16200 to SARS. It transpired that when I declared my medical expenses I included "cents" on my return. As a result of this I was penalised a sum of +-R162000 which I feel is unfair and unreasonable. How do I correct this?

Can I still get a tax rebate for 2011 -2012 tax year?

  Written by Marc   Posted 22 March 2013

my irp5 has the following figures R76545 GROSS SALARY - and R5319 TOTAL DEDUCTIONS(included UIF, SDL,) WILL I GET A TAX REFUND

I get R2000 petrol allowance, do I include this amount for travel allowance when I do my calculation

  Written by Marc   Posted 21 March 2013

I have a company petrol card that I use for R2000 per month.

Income tax calculated and then?

  Written by Marc   Posted 20 March 2013

Hi TaxTim, I hope you can explain to me in simple terms the following. If one receives a gross salary of R20 000.00 with no contribution or allowance paid monthly, then your Income tax calculator calculates that my take home pay is R16 833.32. The R3017.95 PAYE and UIF of 148.72 is paid by my employer. Do I then have to again pay any tax on the R16 833.32 or is that done?

Medical aid expenses over the tax credit, can I claim?

  Written by Marc   Posted 18 March 2013

I incurred alot of medical expenses not covered by the medical aid last year and not sure if I will be able to claim them as a deduction in the upcoming tax returns due to the new tax credit method. Is the tax credit only applicable to medical aid contributions or all expenses incurred?

I would like to claim rental income and expenses relating to renting a property out, what can I clai

  Written by Marc   Posted 15 March 2013

I would like to claim rental income and expenses relating to renting a property out. What expenses can I claim? Can I claim cost of a computer and printer, telephone cost and internet costs? Thanks

If I pay for for my entire medical aid contribution am I eligible for a rebate?

  Written by Marc   Posted 14 March 2013

Am I entitled to a rebate if I pay for my entire medical aide contribution

Depreciation on cars, how does it work?

  Written by Marc   Posted 12 March 2013

Your depreciation calculator - is it up to date in terms of percentages allowed etc?

Second question - I am a sole prop. I know that I can deduct business expenses (not permanently employed), but I am not sure about the installment that I pay for the vehicle (HP). Can I deduct for tax purposes since I use the car for business.

Last question - if the above deduction is allowed, can I also add depreciation of the vehicle to the 'basket' or is it a matter of either or?
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I will be earning R300000 a year what will my tax be?

  Written by Marc   Posted 12 March 2013

I have been offered a job for R300000 a year what will my deductions be.Thank you for your help.Kind regardsVicky

Just want to confirm how to dispute SARS denying the wear and tear allowance on my laptop?

  Written by Marc   Posted 12 March 2013

SARS denied the wear and tear claim according sec 11 e for the laptop I had to buy myself and use at work 100% of the time, they said its denied according to sec 23m, but I'm sure that was incorrectly interpreted because it says except for..... and then refers to sec 11e?!

So do I contact them and say go study a bit and make sure of your facts or how do I go about this? Dispute and add sec 23 for them?

Can I give myself a salary if I run a sole proprietor?

  Written by Marc   Posted 12 March 2013

I just need to find out if I can deduct a salary for myself as a business expense? please can you assist.

Can I be deducted for tax money every week without a payslip at the end of each month?

  Written by Marc   Posted 7 March 2013

I'm concerned because I'm being deducted for tax but I don't even have a payslip and I've been working for the company for more than a year

Tax return sms for a year, but I haven't even been working?

  Written by Marc   Posted 5 March 2013

Hi I received a message from SARS saying,"Thank you for filing your 2009 tax return Assessment Result: R-840 Account Balance: R-840 Selected for Audit: No" I'm confused as to what the R-840 means as I am not sure wether that means I owe them or if they're refunding me

Can I claim for a car which i "leased" from my previous employer?

  Written by Marc   Posted 5 March 2013

My previous employer bought a fleet of cars which he then branded. The deal was that we pay for it over 4 years after which the car would be evaluated and we could buy it for half the value. I left the company after 4 years and 4 months and was told that he was not selling the car to me. A monthly deduction appears on my commission slip (earned comm.only as a sales executive) for the car and petrol but this does not appear on the IRP5. I also did not receive a travelling allowance.

Ho...

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Where can I get a list of the items that I'm allowed to claim for as a sole proprietor?

  Written by Marc   Posted 1 March 2013

I know about things like rent, telephone, internet, stationery, etc., but what else?

What are the benefits of non residents for taxable income in South Africa?

  Written by Marc   Posted 1 March 2013

I am living overseas for the past ten years and have visited South Africa occasionally for not more that 3 weeks per annum. I earn interest (R24500); dividends from private companies (R65000); retirement annuity income (R17500) amounting to approximately R110K per annum. I am paying taxes as a resident. What will my taxes be like if I were to be taxed as a non resident. Will I still be entitled to the rebates. I am 62 years old and am married in community of property. I will appreciate a hypot...

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I am subcontracting for a company, but need tax help please?

  Written by Marc   Posted 28 February 2013

I subcontract for a company, but have not registered yet as a business and they will be taking 33% off my pay. The problem is I have 2 guys working for me as well. How can I sort this out quickly without having to lose out.

She's not sure if the tax deductions are correct?

  Written by Marc   Posted 28 February 2013

My spouse is 26 years old and her basic salary is 19 400 including other earnings which adds up to the total of 28 270 per month. Every month her tax deductions are close to 5000, her monthly deductions adds up to 13 000 including tax, which means she takes home +/-15 000...is the tax deduction ok?

Is my monthly tithe to my church an allowable deduction for tax purposes?

  Written by Marc   Posted 27 February 2013

Is my monthly tithe to my church an allowable deduction for tax purposes?, if not what donations are allowable for tax purposes?

I am a student under contract, now earning +R3250(basic), used to earn +/-R3000(basic).

  Written by Marc   Posted 27 February 2013

I found that they made a mistake when calculating my hourly rate for 10 month, so I end up getting a back pay. When I received the back pay, it reached the salary tax scale. So my salary was tax. My question is that were they suppose to include my basic salary with the back pay? Or give me a cheque for the pay since I'm earning that small amount. Your immediate response will be appreciated. Thank you.

Donations between spouses, are they taxable?

  Written by Marc   Posted 26 February 2013

Are donations between spouses, in the form of a regular allowance or a lump sum, taxable? Please advise the position for each spouse if possible. And does the receiving spouse need to declare under 'amounts not considered taxable' on ITR12?

I work seasonally, can I claim for medical expenses etc I encored while I was not working?

  Written by Marc   Posted 26 February 2013

I work seasonally, six month sometimes five. How do I calculate my tax and can I claim for medical expenses etc I incurred while I was not working?

Can I claim from SARS if I received pension payout of 76347.00 in May 2012

  Written by Marc   Posted 21 February 2013

OLD MUTUAL PENSION FUND NO TAX CERTIFICATE RECEIVED
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