REIT treatment and provisional tax

  Written by Evan   Posted 2 July 2015

I received a REIT dividend source code 4238 on my unit trust IT3B it is very little only R30. Are Reits exempt? Also I read the ITR12 handbook and they suggest I put it under other income/accruals 4214 code with description "income from a REIT". Is this right?

I'm worried they will make me a provisional tax payer due to this extra and only R30 that dosent come from my employment income or local exempt dividends, interest. I dont really want the extra admin issues due to this small amo...

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Claiming legal costs of attorney for divorce

  Written by Evan   Posted 2 July 2015

Can I claim attorney fees for a divorce, in full or part thereof and how?

Medical aid refund but had no income in 2015

  Written by Evan   Posted 2 July 2015

I had no income for 2015 tax year, but paid medical aid for 8 months plus extra out-of-pocket medical expenses. Am I entitled to some money back from SARS? I am 57 years old.

Temporary break in rental income

  Written by Evan   Posted 2 July 2015

I have a property that I rent out. Every year on my tax return, I declare the income I received, and also include related expenses (ie, interest on loan, levies, rates, etc)

I would like to know the following - there were 2 months when the property was not let out (I was finding new tenants at the time). Can I include the expenses for those 2 months thereby reducing my profit, or can I only include expenses for the months when the property had tenants and I was receiving an income?

Medical aid tax rebates - Employer pays half directly into my account

  Written by Evan   Posted 2 July 2015

My company offers to pay 50% of my medical aid contribution. This money is paid directly to me (included in my salary into my bank acc). The amount is indicated separately as "MEDICAL AID" on my payslip. I therefore pay the full amount of the monthly cost to my medical aid every month from my bank account. On my IRP5, my employer indicates their 50% contribution under Deduction code "4005" even though they do not pay the Medical aid provider directly.

My question is:

A) Should this amount be listed under "4005" (According to SARS there should be no amount under 4005 if the employee pays the medical aid personally) ...

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Rental income of a jointly owned property

  Written by Evan   Posted 2 July 2015

My husband and I are married out of community of property but jointly own a flat that we rent out. When completing my provisional tax return do I include 50% of the income and expenses in mine and 50% in his return or do I include 100% in both our returns and then select the 50% partner option?

My statement of account balance changed to zero. Help

  Written by Evan   Posted 2 July 2015

Why has my statement of account balance changed? Yesterday it had the refund due to me, when I my efiling profile check this morning my balance is R0.00. Does this mean assessment is complete and I should be receiving my refund today or tomorrow?

Allocation of PPS on the tax return

  Written by Evan   Posted 2 July 2015

Where do you allocate PPS Loss of income on the tax return?

Freelance income on top of salaried employment

  Written by Evan   Posted 2 July 2015

My fiancé has full time employment and receives a monthly salary. He did a small freelance job last year which earned him R2000. How do we go about declaring this amount via efiling?

Will I be charged tax on pounds transferred to SA?

  Written by Evan   Posted 2 July 2015

I am a South African resident working in the UK. I am currently being paid in pounds into a British bank account. I am self employed and will be paying taxes in the UK. I understand that I am liable to pay SARS the difference in taxes between UK and SA. What I would like to know is how it works with me sending money back to SA? Will I be taxed extra on this money or will it all just be calculated in the tax return on earnings?

I need my tax reference number now

  Written by Evan   Posted 2 July 2015

I already have a tax number. But I need it now, and I'm nowhere near SARS. Can I get it as an SMS on my phone?

Travelling expenses independent contractor

  Written by Evan   Posted 2 July 2015

I work as a independent contractor through a agency contracted to Nedbank, I am an IT Solutions Architect , my cost to company is R75,000 pm. Can I claim my travel on SARS efiling? It's not set out on my IRP5 with a code for travelling expenses.

Says I don't have to submit a tax return because I earn under R350 000

  Written by Evan   Posted 2 July 2015

Says I don't have to submit a tax return because I earn under R350 000. Is this true? Why has SARS changed their mind?

Supporting docs turn around time for approval

  Written by Evan   Posted 2 July 2015

Hi,

I submitted my Tax return for 2015 and my SARS calculation showed that I am owed a refund. However I was asked for supporting documents which I submitted. Does SARS give you a confirmation once all documents have been verified? How long does the verification process take?

Provisional tax threshold

  Written by Evan   Posted 2 July 2015

Good Morning,

My husband has recently started a business (in June 2015). It is his only source of income. When will he become liable to pay his personal provisional tax, and does he still need to pay if he is earning less than R5000.00 a month? Does he need to register as a provisional taxpayer already?

Thanks

Already paid but cannot continue

  Written by Evan   Posted 2 July 2015

I have already paid for subscription but cannot continue as the website asks me to make another payment. Why do I need to make 2 payments if I haven't completed my tax return yet?

How to declare Taxable Local Dividends (code 4238) on tax return

  Written by Evan   Posted 2 July 2015

I would like to know where on my tax return (ITR12) should I declare the taxable local dividends (4238). It is from the income tax certificate I received for my unit trusts. The code wasn't on last year's certificate. Both the relevant questions are ticked yes (i. E. 'Did you receive income from interest (local and foreign) and / or taxable foreign dividends?' and 'Did you receive exempt local / and or foreign dividend income?') There is, however, no code 4238 on the inco...

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Medical Expenses for Tax Return

  Written by Evan   Posted 2 July 2015

I was on maternity leave for 4 months last year, I only joined a medical aid in August and baby was only covered from October. My whole pregnancy was paid for cash ( +- R60 000 ) I have calculated my return and it is not what I was hoping for. How does medical expenses paid cash work out?

Bursary repayment deduction

  Written by Evan   Posted 2 July 2015

I'm am repaying a bursary on a monthly basis. Can I use it as an deduction on my personal income?

Thank you

Will SARS still pay me if I lodged a dispute by mistake?

  Written by Evan   Posted 2 July 2015

I accidentally clicked dispute on my statement and now it is asking for documents. Will SARS still pay me if I ignore the dispute?

Tax returns on provident fund

  Written by Evan   Posted 2 July 2015

Hi, I would like to know is it possible to claim tax returns on your provident fund that was payed out as a lump sum and where to start?

Deduct medical expense

  Written by Evan   Posted 2 July 2015

Can I deduct medical expense I paid myself if don't have medical aid?

Documents required for tax returns at SARS

  Written by Evan   Posted 2 July 2015

What do I carry along when I am going to SARS?

Logbook too big to upload?

  Written by Evan   Posted 2 July 2015

Hi Tim,
I've been asked by SARS to provide supporting doc's, problem is my logbook is 120 pages via "the Little Logbook" GPS logbook. I know we are limited to 20 pages and 2MB for uploads. Can I submit the 1st and last page showing opening and closing, or should drop all the pages with a SARS office. Thanks!

My registration number

  Written by Evan   Posted 1 July 2015

What is my registration number?
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