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Latest Posts in Tax Q&A

If a company generates less R250k per annum does it file return?

  Written by Marc  

If a company generates less R250k per annum does it file return?

What constitutes "place of work?"

  Written by Marc  

Travel Allowance: SARS says that travel between home and place of work is considered private and may not be claimed. What constitutes my "place of work"? I am a pastor. I do not have my own office at the church building where I am employed, but I often travel to the church during the week to see people or attend meetings. Am I allowed to claim those trips to the church building as work km's?

What Gross earnings/profit does the business have to earn before being laible for tax?

  Written by Marc  

What is the tax threshold for a business? What Gross earnings/profit does the business have to earn before being laible for tax?

Register for a tax reference number?

  Written by Marc  

How do I get a tax reference number. I am unemployed but applying for a job and they require a tax reference number on my application form?

What tax amount is deducted from a provident fund when retrenched?

  Written by Marc  

I have been retrenched. How much tax will I pay to withdraw from the provident fund value of R600 000

2 examples of indirect taxes and current rates

  Written by Marc  

2 examples of indirect Taxes and indicate the current rates of taxation on each?

Value added tax

  Written by Marc  

Using an example , explain the basic principal of value added Tax?

Tax on leave payout and which law governs the tax deducted

  Written by Marc  

What amount should you get taxed on for leave payout if it is paid out separately and not with your monthly salary? Is it suppose to be taxed as a lump sum using code 3605? What law governs the tax deducted for this? would it be a SARS law or a LRA law? Please advise

Does pocket money count towards the R100,000 donations threshold?

  Written by Marc  

I am giving my son R100,000 and putting it into a fixed deposit account to save. I know this is the maximum donation I can give to him without me paying tax. If I also give him an allowance of R1500 per month for pocket money into his current account and this is obviously spent every month on necessities does this count towards the R100,000 allowance?

Do I need to submit tax return, back in 2013 if I earned well below the threshold?

  Written by Marc  

I've recently submitted my 2015 tax return with Tax Tim. After phoning SARS - they mentioned that my 2013 tax return was outstanding. I only worked for three months of that financial year and accrued an income of WELL BELOW the threshold. Do I need to submit this tax return? Will I get penalized?

What papers do I need if I worked abroad and want to submit my tax?

  Written by Marc  

What documents do I need to submit my tax return if I worked abroad

Total tax

  Written by Marc  

How much is my tax

Can my retirement annuity and charity contributions paid by my spouse be claimed by my spouse

  Written by Marc  

Unemployed for past financial year and spouse paid my retirement annuity contributions and donations . Can he claim my retirement annuity contributions and donations against my spouses tax

Can I submit invoices for building material?

  Written by Marc  

Can I submit invoices of building material I bought for renovation to my house?

Taxable income for taxi business?

  Written by Marc  

Is income generated by operating a taxi business taxable?

No tax income ductions, do I get tax return?

  Written by Marc  

I am not a income taxpayer but I want to know, do I get tax return money?

Late Dependent benefit on UIF

  Written by Marc  

Our brother passed away last year March and he had 2 children. We didnt knw that we could have claimed depengent benifit on his UIF. Can we still claim it? And can we appoint someone to claim it on our behalf.

I HAVE CLAIMS NOT RECOVERED FROM MY MEDICAL AID OF R23,733.00,WHAT IS THE EFFECT OF THIS ON MY TAX R

  Written by Marc  

I HAVE CLAIMS NOT RECOVERED FROM MY MEDICAL AID OF R23,733. 00, WHAT IS THE EFFECT OF THIS ON MY TAX RETURN

What numbers do Tax refernece numbers start with?

  Written by Marc  

Hi. What are the 1st qualifying digits on a Tax Reference number that separate it from all the other SARS numbers. Ie. What numbers do Tax reference numbers start with?

Completion of tax assessment to SARS?

  Written by Marc  

Can you please complete my tax assessments for the years 2014/15 and 2015/16? Can you please indicate the price you will charge me?

I had surrendered a policy, where do I put this in my return?

  Written by Marc  

I had surrendered a policy a few months ago. Where do I put this in my return?

You have not ask me the amount next to code 4149

  Written by Marc  

You have not ask me the amount next to code 4149

Balance on assessed account R11288.68

  Written by Marc  

What is the meaning of - The current balance on your assessed account is R11288. 68.

How much PAYE should I be paying to SARS?

  Written by Marc  

I started working in June 2014 and I am not sure how much tax I should be paying (PAYE) and whether I will fall withing the 2014/2015 tax season as I started working in June of last year. I have tried to use the calculators but I am not sure I understand. Assuming that I earn R300000as total annual package, from which I contribute towards my own pension fund. What is my estimated PAYE amount monthly?

Am I liable for capital gains tax on the proceeds I received from selling the house I stay in?

  Written by Marc  

Last year, I sold my house in Cape Town because it was big and could no longer afford repayments and maintenance. I bought a smaller one in which I now stay. After paying off the bond, I used what was left to deposit the new house and do some renovations. Am I liable for capital gains tax?
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