Can you do dispute on my behalf via eFiling?

Posted 24 February 2016

Hi Tim, I am an estate agent and SARS IT34 reflects I should pay them -R20k 2015 Taxyear.. I think I completed the forms incorrectly on e-filing. I now wish to request a dispute. I have all my receipts. Can you help me with it please? Do I need to buy the Ultra package? Please advise urgently as I know I need to get a refund. Regards Julie Bosch

Company car versus personal car and travel allowance

Posted 23 February 2016

A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work.
What is the most beneficial method in terms of tax:
to buy a car in his own name, or to buy one in the company name and use it for business and personal (will be small personal use)?

Dividend Witholding Tax

Posted 23 February 2016

When you have to pay Dividend Tax can the Company Director handle the DWT and pay the 15% Dividend Tax to SARS or must you use a Regulated Intermediary?

is a marriage by muslim rites included in the definition of a spouse regarding donations tax?

Posted 23 February 2016

What should I select for marital status when filing tax return, religious marriage (married by muslim rites) usually muslim marriages are ANC however we have not yet registered our marriage?
Will my husband be expected to pay donations tax on cash he transferred to me for safe keeping? For tax purposes are we considered to fall within the definition of spouse and as such not be liable for donations tax?

Example: Husband transfer R500 000. 00 of his savings to wife married in accordance with muslim rites, wife invests the money with a Bank and earns interest on it...

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Please calculate my tax liability for 2016

Posted 23 February 2016

I am 44 years old, unmarried and my taxable income for the 2016 year of assessment is R215,000.

An accountant submitted wrong information to SARS on my behalf

Posted 23 February 2016

Hi, an accountant submitted my tax returns from 2009 to 2011, and when I found another job in 2012. I requested her to submit in 2012 and she refused. I submitted it by myself with help from SARS consultant. I received audit in 2013, and they requested additional information from 2009 to 2011, and when I asked my accountant, she became defensive and tell me she deleted my documents. SARS old me to pay back around 75000, and we agreed on compromised. I payed 35000, but now I want her to pay the 1...

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2014 year of assessment includes which months for a 30 June financial year end?

Posted 23 February 2016

If my financial year end is June, which months fall under the 2014 year of assessment?

Is medical aid contributions paid in full by employees tax refundable

Posted 23 February 2016

I was the principle member of my Bonitas medical aid and was paying R2,076 of the total premium of R5,788. My company paid the difference. Now I resigned and my husband applied to be the principle member through his company but they deducted the full premium. Will he be able to get some of these premiums back when he fills in his tax return at the end of the tax year.

Tax Reference Number from overseas.

Posted 23 February 2016

Hi there,
My name is Daryl Fortuin and I'm living in New Zealand for the last 11years.. I've applied for my pension fund in South Africa through The Building Industry Bargaining Council and have been in contact with them. They sent me all the required documentation to apply, but they are looking for a tax reference number, can please assist me.

How soon can you submit my returns after I upload it on Taxtim?

Posted 22 February 2016

A few minutes ago I just submitted my 2013-2014 tax returns on your system. This is already overdue and I am facing penalties. How soon can you submit and what other information do you need me to provide you with?

Can I claim back tax on a retention bonus?

Posted 22 February 2016

I was paid a retention bonus and I'm leaving the employer before the retention period. This means I now need to pay back the bonus amount. The company is deducting the bonus from my salary and leave days payout. Can I claim back the tax for the retention bonus? How do I do this?

Declaration of interest earned on Fixed Deposit investments for tax purposes

Posted 22 February 2016

Good Day, my question relates to the declaration of interest accrued (but not necessarily paid) on Fixed Deposit investments for income tax purposes. I am a provisional tax payer and prefer to pay the tax in the tax year in which the interest is earned. For example, if I start a 24 month fixed deposit on 1st January 2016, maturing 31st December 2017, interest (simple) payable at maturity then is it permissible to declare the interest as follows assuming for simplicity that interest accrues at R100. 00 per day:...

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How can I get an ITA34 as soon as possible?

Posted 22 February 2016

Hi Tim. Im trying to buy a property by taking out a mortgage bond. The agent has told me that they need an ITA34 from SARS so the process can continue. I have no idea what this is as my employer is responsible for my tax issues. I have never done a tax return before neither do I know if my employer has been paying for my PAYE. Please help.

Fuel Reimbursement

Posted 19 February 2016

What tax code must be used when a company reimburses fuel only and business km's exceeds 8000km per annum. There is no refunds for wear and tear, repairs and maintenance or insurance. At present the code on the IRP5 is 3702, is this correct?

SARS Payout

Posted 19 February 2016

I owed SARS money (Statement of Account Period: 2015/07/28 To 2016/01/28), I submitted a dispute, and the following is now showing. SARS Status: Please note that your tax return cannot be processed immediately due to an outstanding Tax Directive. Therefore, manual intervention is required. SARS will advise you as soon as your tax return has been assessed 2016/01/28. When I followed up this is the newest update:
NOTICE OF ASSESSMENT: REDUCED ASSESSMENT 2016/02/15. The amount stated here is a negative amount/ amount with a minus infront. Do they deducted this amount from the amount I owned them, or do they owe me this amount?...

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Does a church/ free association pay tax on tithes & offerings?

Posted 19 February 2016

We are a small non-denominational church and are registered as an NPO. The cost of auditing and maintaining the NPO status, has become too much. We want to de-register, but was told that we will then have to pay tax on the tithes and offerings made to the church. Is this so?

Ring fencing of assessed loss

Posted 18 February 2016

I sold a property during the 2015 year of assessment and made a significant capital gain. I also claimed an assessed loss deduction on the same property for rental losses (finance charges, levies etc) against my other income up to the date the property was sold. SARS ring fenced this loss as my total taxable income falls in the highest tax bracket. However this is only as a result of the significant capital gain I made on the same property I claimed the loss on. Is there a provision in the act t...

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How to get a tax number if unemployed?

Posted 18 February 2016

Hi there, my mom has not worked in 7 years and her partner has passed away. She is due a payout from the accident fund at his employer. They are insisting she needs a tax number to process any payment to her. How do you register to get a tax number when you have no income or job?

What penalties will I incur if I do not pay my donations tax within the three month deadline?

Posted 18 February 2016

What penalties will I incur if I do not pay my donations tax within the three month deadline? Is there a way around incurring any penalties if I was not aware of this deadline?

Would there be donations tax payable on a cash payment received from a non-resident?

Posted 18 February 2016

Would there be donations tax payable on a cash payment received from a non-resident, living in the US?
Would the South African receiver of the cash be taxed?

What are the tax implications of share options?

Posted 18 February 2016

I have an opportunity to exercise options for an unlisted, US-based company. The purchase value of the options will be around $5400 International holding tax of about $4881. 53 so I need to understand what would be expected in terms of a SARS payment. I plan to hold on to the shares.

ITR 12 or IRP6?

Posted 17 February 2016

First of all I do have a tax number after working for an investment company a couple of years ago. I then resigned there and for the last three to four years not needed to pay tax. Currently I work for myself receiving three to four different income streams. All under my own name from research to maintenance. My question is: I now have to start paying tax again. The taxing income started on 1 Sep 2016, thus the first six months goes to end Feb. Do I need to submit a ITR12 or IRP6? And which pack...

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Do I need to tick box on tax return for IRP5/IT3A for foreign pension received?

Posted 16 February 2016

Hi there, was filing my tax return and got selected for verification. I think that it might be as a result of ticking the wrong boxes though - I receive a pension from overseas and interest on my Standard Bank account but I did tick the box for the IRP5/ IT3A saying that I got one such certificate. I then filled in the interest amount under Local Interest and noted the foreign pension under not taxable. Am I right in assuming that I should, in future not mark the IRP5/ IT3A box? (I always though...

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Will SARS pay me a refund based on my retirement annuity if I am declaring no income?

Posted 16 February 2016

If you are working overseas and are declaring a NIL tax return due to the income being exempt can I still claim a deduction on my retirement annuity?

Apply RA tax deductible to provisional tax payment or get a refund after the final tax submission

Posted 15 February 2016

I am a provisional tax payer and contributing the maximum allowed deductible to an RA (15% of non-retirement funding income). I would like to know whether I can deduct this from the taxable income myself for the provisional tax payment, meaning I pay less to SARS now and do not get a refund later, or whether I should pay tax on the full income without deducting the RA deductible and then get a refund from SARS later on? If I have a choice, I would prefer not overpaying taxes to SARS and aim for ...

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