Latest Posts in Tax Q&A

Depreciation on office equipment

I am hiring office equipment such as chairs, tables etc. can I claim depreciation on it?

Divide pension between spouses

I am married in community of property and my wife and I are both individual provisional tax payers. I have been retired for 20 years. Can i divide my pension income between myself and my wife's income on our IRP6s?

Legal tax deduction?

Good Day I would like to know who is right in this scenario: a SA resident and the SA company I work for received a construction contract in Sierra Leone, November 2015 we left with promises that there will be no tax deducted. Just before we left our SA employment was terminated and we were rehired by the newly established Sierra Leone company (same name, just now Sierra Leone ltd). We work everything according to the SARS 183/60 rule In the meantime, salary and tax deductions went on like norma...

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Can TaxTim change my banking details?

I was asked by SARS to come and verify my banking details in person, can TaxTim go and do it for me?

When do I declare interest income?

I earn interest on my medical aid savings, do I declare it to SARS the day I leave the medical aid or at the end of the year I earned it?

Rental Income Tax for Foreign Non Residents

Dear Tim, I am a foreign non resident and own a property in South Africa from which I gain rental income of about R6500 gross per month, or around R4000 after expenses. It has lately come to my attention that I may need to pay tax on this. How do I get started? I rarely visit South Africa.

Resignation and taxes

I have 30 years service at my current employer and my pension lump sum is R1820000. Id like to know what my taxes will be if I resign? are my 30 years taken into account and lastly. I must still pay my mortgage. Can this be done tax free?

How do I know the verification process are completed

Hi. I was requested to send documents for verification which I did. About four weeks later I was issued an additional IT34 (assessment) that showed no changes were made to the original assessment and on this one it indicated that I am not selected for audit / verification. But I have not yet received a completion letter. Does this mean the verification process has now been completed?

Claim for out of pocket expenses

I dont have a medical aid but I need to see a physio every week after being in a car accident last year. Cam I claim this expense on my tax return?

Tax clearance application

How do I apply for tax clearance certificate via eFiling?

Change of banking details

If I update my account details on eFiling will that be updated with SARS immediately?

travel claim

Can I claim for a travel expense from SARS if I was only given a travel allowance for one month in the last tax year?

TAx number, where do I get it?

I lost my tax number, are you perhaps able to get it from SARS on my behalf?

Which package to sign up for

We are starting a new pty ltd and will be employed by the company as directors, should we sign up for SMART or ULTRA package, the company turnover is more than R1m pa, what company package do you have?

Medical aid contribution

I pay my medical aid via my employer but they dont help me with the contribution. They do give me a medical tax credit every month, is this the right way to do it or should my medical aid only show on my tax return?

Tax on severance package

I am about to take the voluntary retrenchment package and wanted to know if I will be taxed on my last salary along with my leave days and severance package?

Transfer a tuck shop in my name

I am buying a tuck shop but need to know how I can register it in my name, its a sole proprietor.

Can I estimate my own tax

I'm a freelancer, and I've been putting 25% aside for tax as I used to pay this amount of tax when I worked as an employee. Can I keep doing this as I am still earning the same gross amount each year?

Tax due on resignation benefit

My total resignation benefit is R666 120.00 what will be my payout after tax?
I'm 41 yrs old

Donation to household family

Is monetary gifts to a spouse and kids a deductible expense and how much is allowed per year

Donation to family members

I gave my mother and sister R25000 each, can I deduct it as an expense against my income and how much donations tax should I pay on it?

Tax on donation

if I donate my clothes, and I get paid for it, can I claim a tax deduction for the expense?

Add app to current profile

How do I get the app for the daily log book if I am registered with TaxTim?

CGT Calcualtion for Primary residence

CGT Primary Residence with a home office

Base Cost R3m
Proceeds R7m
I use 33. 33% of my primary residence exclusively for trade/business. I have claimed these expenses for the past 4 years when doing my IT12. I have owned the primary residence for 11 years. How do a calculate the CGT taking into account 7 of the 11 years were 100% primary residence

Can I resubmit my IRP6?

I submitted my IRP6, but I think the tax payment is too high? I feel I missed something. I did this at a SARS office. Is it possible to amend the IRP6 figure before I pay? And if so, how?
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