How do handle monthly donations made?

  Written by Marc   Posted 24 May 2015

Sole proprietor, when do I handle donations made monthly?

My employer cannot pay my provisional tax so I have been getting a full salary.

  Written by Marc   Posted 24 May 2015

My employer cannot pay my provisional tax as they do not have enough funds to match my provisional tax (meaning what they have to pay from their pockets to SARS). They have been paying my salary in full with no deductions and it has been up to me to save that money and pay my tax in November 2015 as a Regular tax payer. How much will my tax be? I earn R15000 per month. Worked out that my tax would be R2700 per month.

How much rent is allowed before tax and when do we have to register only once the rent is paid?

  Written by Marc   Posted 24 May 2015

Hi Tim I have a student who is paying me rent in a 2 bedroom semi-detached. He started paying rent in February 2015 when do I have to register as a provisional taxpayer? Is it only once you've earned more than R30 000 for that year? Then I will have to register next year then in Feb 2016?

From freelancer to permanent - when/how do I apply for my refund?

  Written by Marc   Posted 24 May 2015

I freelanced for a while so I paid provisional tax from last year August 14 to Jan 15 and then again Feb 15 to Aug 15 (overpaid a few invoices accidentally). I got a full time permanent job since 13th April. When can I apply to get a refund from the provisional tax and some overpaid invoices please? And how do I go about this? Thanks!!

Purpose of provisional tax?

  Written by Marc   Posted 17 May 2015

What is the purpose of provisional tax?

Sport massage therapist enquiring about tax refund?

  Written by Marc   Posted 11 May 2015

I own a sport massage business. I am therapist/bookkeeper/secretary. What are my first steps towards tax payment and or refund? I earn R6000 per month.

Due date for provisional tax submissions for company year end other that February year end

  Written by Marc   Posted 11 May 2015

Hi there. RE: Due date for provisional tax submissions We have a company with a June year end. I know that the first provisional is due for submission 6 months after the year end of the company, which is 31 December. Please advise what the second provisional due date is? Is it 30 June the following year?

What is the maximum amount a pensioner can earn from investments to avoid provisional tax?

  Written by Marc   Posted 21 April 2015

I am 73. I earn a pension of R237600 pa before tax. I get rental income on investments of R15000 pa. Do I have to pay provisional tax?

UK FUNDS RECEIVED MONTHLY HOW DO I LESSEN TAX IMPLICATIONS?

  Written by Marc   Posted 21 April 2015

I am a full time employee in South Africa but do part time work after hours for a solicitor in the UK - she pays me £300 per month which equates to about R5600 per month (depending on exchange rate). How can I lessen the tax implications on this amount? Do I need to pay tax on this amount and declare it as a additional income on my return?

Calculation of tax credits for medical aid contributions?

  Written by Marc   Posted 6 April 2015

How does one calculate the tax credit for medical aid contributions for persons over 65. I would be grateful if you could answer with an example. Thank you

Procedure to follow for a company that never traded, never filed annual return, in need of tax clear

  Written by Marc   Posted 29 March 2015

I incorporated a company in September 2014, it has never operated since then and never filed an annual/provisional tax return, now I am in need of a tax clearance, could you kindly advise if it is permissible to file the tax return with zeros now in 2015(end of February)depicting it as the 01 provisional payment given that the company never traded and never filed a return.

Provisional tax for less than R5000 income - what do do for SARS?

  Written by Marc   Posted 11 March 2015

I just registered a company and we might make income of less than R5000, do I have to submit provisional tax? Financial year end is February.

I would like to know how to complete a nil return via eFiling?

  Written by Marc   Posted 6 March 2015

I am doing some admin work from home and have been paying Provisional Tax for the last 3-4 years. Twice a year someone has been doing my tax return via eFiling for me. I realize now that I don't earn enough to even complete a tax return. To be on the safe side I want to complete a nil return but am not sure how to do it. I don't want to ask the same lady to do the nil return for me because she will charge me . I would like to know how to do it myself because it is now due.

Deferred payments with SARS?

  Written by Marc   Posted 4 March 2015

Can SARS impose the 10% late payment penalty when the taxpayer has requested a deferred payments arrangement? This would be in relation to provisional tax period 2015/02.

How do I pay my provisional tax by electronic bank transfer through ABSA?

  Written by Marc   Posted 28 February 2015

How do I pay my provisional tax by electronic bank transfer through ABSA?I tried today, but the ABSA list of registered institutions says "instelling rekening nommer: nie beskikbaar nie"

Provisional Tax Deadline was Missed, couldn't get IRP6 registration in time.

  Written by Marc   Posted 27 February 2015

I'm sort of new to provisional tax (couple of recent months) and I was aware that I need to be submit a return by end of February. The one thing I didn't know is that I need to register for (IRP6) before I can submit one. Always saw it online on eFiling and figured it would work as normal (Income Tax section) and never tested the "functionality" so I did ask for a request to register but as it turns out I didn't get it in time. . . So I was wondering what options do I have? Can I get an extensio...

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My company is registered last year October I want to know when must I start make tax returns?

  Written by Marc   Posted 27 February 2015

I register my company last year I want to know when must I start to make tax returns ?

Do foreign nationals working fulltime with part-time work declare tax for monies paid?

  Written by Marc   Posted 27 February 2015

I am a foreign national on a work permit currently permanently employed and also want to start free-lancing/consultation work. I have had calls from companies/businesses needing my skills and I decided to register a company in my name at CIPRO. The issues are I need a business permit to open a bank account and then register at SARS but this is a huge mountain to climb due to the "unfavorable" requirements required by Home Affairs. If I go ahead with this work whilst I work on my busine...

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Do I need a log book for a sole proprietor

  Written by Marc   Posted 27 February 2015

Hi Tim, I am a sole proprietor and have a question about deducting my vehicle and petrol for business use. Currently I am deducting 70% of my vehicles monthly installment as well as 70% of my fuel costs from my taxable profit. However I have not been keeping a log book, the 70% is an estimate which in my opinion is a bit lower than my actual business use. Almost all my mileage is for business use. Could I get in trouble for this? Do I need to keep a logbook? If ever asked by sars I could give a ...

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What period does the IRP6 submission, that is due on 27 February 2015, cover?

  Written by Marc   Posted 23 February 2015

What period does the IRP6 submission, that is due on 27 February 2015, cover? Is this from 1 March 2014 until 30 June 2014?

How to register student, doing part time modelling, with SARS

  Written by Marc   Posted 22 February 2015

My daughter has started a part time modelling career. She is 15 years old and still in school. Do I register her as a normal individual tax payer with SARS, she will be a sole proprietor. There will be
expenses deductible for tax purposes.

Are computer components (CPU, RAM, etc.) considered to be "part of a set"?

  Written by Marc   Posted 20 February 2015

Regarding the writing off of assets under R7,000 in value, you mention here[*] that the items must not be "connected" to one another or form part of a set. I purchased 6 items this year (CPU, SSD, Case, PSU, RAM, M/board) [in 2 transactions] in order to upgrade my PC (used for work purposes). Are these items "connected" to one another / do they form part of a set?

The total amount was about R7,671. 16 ?%u20AC%u201C which means that I can't write this off if they are considered to be part of a set. Are they? Or can I write off all 6 items, as each of them cost less than R7,000?...

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Which tax form must I use to submit to SARS?

  Written by Marc   Posted 19 February 2015

I last submitted my an IRP6 form via eFiling in August 2014, end of Feb 2015 is my year end. . Do I still complete a IRP6 form or do I also complete the IRP12? this is for my business which is a private company. Also for this income tax submission do I calculate only from Aug?

I need assistance regarding provisional tax

  Written by Marc   Posted 17 February 2015

I am a full time salaried employee who earns a monthly salary from my employer which is taxed. However I also do 'contractual' work for the same employer that is not taxed like my salary is. I started receiving this additional income from September 2014 - February 2015 and in total I would've received R22,000 income that has not been taxed by the end of Feb. I want to know if I need to register for provisional tax? How much would I be looking at paying? I do have expenses that I would like to in...

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When is my first provisional tax payment duel?

  Written by Marc   Posted 15 February 2015

I established a new medical practice in January 2015. When is the first provisional tax payment due?
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