Tax Threshold Posts in Tax Q&A

Pay tax on R3600 pm?



Hi, I work for 2 yrs I was earning R3600p/m before provident and UIF and was given an IRP5 once. I have been dismissed since March 2013, can I still claim for a tax return?

I own half of 2 properties plus earn R7000pa interest on savings. Do I have to pay tax?



Hi Tim,I am retired and earn approximately R7000 pa in interest on savings. Do I need to register as a tax payer? I am joint owner of our permanent residence plus a beach cottage.Many thanksBev

Registration of employees who don't earn more than 5000 pm



I have a business with 8 employees who each earn below the threshold of tax. Do I have to register them?

25% tax but under threshold



Hi Tim. I'm a freelance drama actor. I get paid around R3000 and am taxed at 25% each month. Do I get a percentage of my tax paid back, or all of it???

My tax position at the end of February 2014 after I received income from two different employers



Hi Tim

From my permanent employer I received R5000.00 per month which was increased to R5500.00 per month from July 2013. My contract for this job comes to an end half way through January 2014, therefore being 10.5 months of the 2014 tax year. My employer does deduct any amount for PAYE.

From February 2013 to August 2013 (being a 6 month contract) I had a part time job (being a different employer), where I received R3000.00 per month. My employer here deducted R750.00 per month for PAYE....

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How will I know if I owe taxes? Do I have to file earning less than R5000 per month?



If you earn less than R5000 per month, do you have to file for taxes returns?
How can I check if I owe SARS?

How does the rental tax on a first property, paid in cash, work?



I currently live with my parents, on their property. I am looking at purchasing an apartment for R650 000 and renting it out. I have been given the option of paying for this in cash and then paying my family back at their low bond rate of 6.5% (prime -2%).

The property will be rented out for R5500. The expenses on the property (rates and levys) are R1800. So the rental income would be R3700pm. This R3700 as well as another R4300 will be paid monthly to my parents (total R8000pm).
...

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How much tax do I have to pay as a self employed buinessmen?



Hey Tim, awesome site and very helpful info. I am not sure of my tax number, I was out the country for a few years and before that I was self employed and now again I am self employed. I last worked for a company n SA probably 10 years ago.

We have started 3 businesses since we have been in SA (my wife and I) and the first 2 didn't really get going at all and cost much more than they made which wasn't much at all. They were both Close Corporations but we never got to the stage when we got a bookkeeper in to do anything...

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Hi, I earn 5500 p/m gross how do I know when I get a return or owe tax money?



just want to know how to know and when and what?

Medical Aid Tax Credit - source code 4008



Hi

My Taxable Income is R 322 058. Through the year my medical Aid contributions were R 13 024 and out of pocket was R 11 359.19. I just wanted to check that I shouldn't be getting a rebate on 4008.


The calculation I'm doing is: Contributions and out of pocket (R24 383) - Tax Credit R246 * 12 * 4 (R 11 616) = R 12 767. This is less than 7.5 % of my income ~R24 000 therefor that's the reason why the 4008 allowable deduction is R 0?

PAYE on R5 000 and under? What do I do?



I just want to know if my employees should pay PAYE on R5 000 per month and lower? Or can I only deduct UIF?

Tax Return - when I must I submit?



I'm getting confused with regard of submiting tax return. If you earn more then R63556 you to submit your return and on the other side if your remuneration is R250000 you may not subtmit a income tax return. Can you clarify that for me please?

I only started working this year, do I receive a tax refund?



I started working on the 2nd of January and therefore my tax was below the threshold to submit my tax. I have heard that I can get all my tax for the first two months and was wondering if that was true?

Are some tax payers exempt from completing a tax return in South Africa?



Are some tax payers exempt from completing a tax return in South Africa?

Second question: What is the current tax threshold which I understand as not having to pay tax if you earn less than the tax threshold, correct?

Registering for VAT threshold?



Do you have to register for VAT if your gross income is over R1 000 000 or only if the taxable income is over R 1000 000.

Are UK pensions liable to South African income tax?



Are UK state pensions or UK company pensions, paid into the UK Bank account of a British national, who is resident as a retired person in South Africa, liable to South African income tax?

If I use your online digital tax assistant application will it correctly cope with such overseas pension income?

No IRP5 for previous years?



Thanks for a great site! My question is I did my return on the 2nd July and I'm due for a refund. My concern though is I have been working for - 5years but this was my first return. Is it possible that SARS can penalise me for not filing in the previous years? There are no other IRP5's loaded on my profile so how would I know if I would need to file for those years.

Please assist, thanking you in advance!

Reimbursive Travel Expenses -when is it taxable or non-taxable?



My total reimbursive travel expenses are R13 802 for the 2013 tax year. My company rate is R4,30 p/km and I have received no travel allowances during the year. My IRP5 shows both 3072 R12 319 and 3073 R1 483. What code and amount should I put on my tax return?

If earning a salary as well as commission but fall below the necessary threshold.



Would a return not be given for commission as this is heavily taxed?

Do I still have to register with SARS and fill in a tax return?



In 2012 I was paying PAYE, I got an IRP5 from work but did nothing with it as I didn't know what it really was. Then in February 2013 they raised the threshold and I no longer earn enough to pay tax. Should I still fill in a tax return for 2012? Will they charge me late fees for this?

Medical Aid Monthly Contribution VS Tax Credit on Medical Aid?? How to deduct?



Hi Tax Tim
Great website, very helpful over the last couple of months.
I am busy filling in my ITR12, and I have a lot of deductions, ie depreciation etc, but when I enter my medical aid contributions, (paid by myself, R 1900 per month), and I calculate my tax return, it shows in the 4008 field R0.00. Please advise how to make this amount come in to account and how does the new tax credit work in my case? Lastly, re-imbursive travel expenses, how do I deduct this? I travel some times f...

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Does my wife have to submit a return if we receive rental income?



My wife earns under the threshold even with the rental income, the property is in both our names
Does she have to submit a return or can I alone submit it on my return?
We are married in COP.

I earned R6 500 and was a temp in the last tax period I only worked for 3 months. How does the tax w



I earned R6 500 and was a temp in the last tax period I only worked for 3 months. Can I claim PAYE for those months?

Can I claim for tax return?



I am paying a medical aid for my self and my son, I earn only R40 000 pa, can I also get something from SARS and how do I go about doing that I already got a certificate from my medical scheme.

VAT registration?



I have just started a small business. What must my turnover be to register for VAT. Currently I am paying VAT on my purchases but not charging VAT on my sales.
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