Additional income, how do I show this on my tax return?

  Written by Marc   Posted 15 February 2013

I am a pensioner with a pension below the tax threshold. However I have additional income from a part time job. Must this amount be added to my pension (which is then taxable)? How do I calculate the PAYE that is then payable?

What is the difference between a Company vs CC for tax purposes?

  Written by Marc   Posted 15 February 2013

Kindly assist me. From a tax perspective, which is the better option to open, a company (Pty Ltd) or a CC?
Is it better to purchase a shelf company or CC or to register it self? (I'm aware that you can't register CC anymore) To amend all the details of shelf company to yours, won't it be more expensive at the end of the day?

Want to pay my provtax. From FNB Where do I do it?

  Written by Marc   Posted 14 February 2013

Where do I pay Prov via Internet?

Part-time accounts clerk - what are the tax implications?

  Written by Marc   Posted 13 February 2013

We just hired a junior accounts clerk to work 5 hours a day at R50/hour, 5 days a week. Hence, 100 hours a month.

I would like to know what the tax implications will be for this person due to the fact that he won't work full day. He is on 'probation' for at least 3 months with us.

I have queried a couple of people regarding the preparation of the agreement/contract whilst doing the research online. I am also currently finding how to categorise him on Pastel Payroll from Pa...

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If an employee earns less than R50 000/ R60 000 per annum, do they qualify for a income tax number?

  Written by Marc   Posted 12 February 2013

This question is required for work purposes including employees needing to register for income tax urgently.

If you stay out of country for 183 days, 60 days consecutive, can you apply for a NIL percent tax?

  Written by Marc   Posted 11 February 2013

A directive that no tax is being taken off from your salary? As far as I am aware the lowest percentage directive is 18%. This person only comes to SA for holidays. I was informed that there is a NIL directive but not according to SARS???

Pay yourself a monthly salary or pay income tax on profits?

  Written by Marc   Posted 10 February 2013

My daughter has a internet buying and selling business. It is making good profits and she wants to know whether she should take those profits out as a regular monthly salary and pay PAYE or leave it as profit and pay income tax at the end of the year on it. She is operating as a sole proprietor from home.

Tax on Foreign Income

  Written by Marc   Posted 10 February 2013

Hi Tim,I've got a new contracting job where I'll be working from SA, but I'll be paid from the UK. How do declare/pay my taxes on these? And do I have to transfer all my funds back to SA?

Asset depreciation in first tax year

  Written by Marc   Posted 10 February 2013

If I registered for tax for the 2012 tax year, does that mean that I can't claim asset depreciation in that first year, since the calculations are based on asset usage in the previous year (when I wasn't utilizing the assets for work purposes)?

As a Sole Proprietor - do you need to do annual returns on profit, AND monthly PAYE?

  Written by Marc   Posted 10 February 2013

If you are drawing a monthly salary from your business being a sole proprietor should you be paying monthly PAYE, as well as company tax on the annual profit? Or should you not be drawing a salary and only live off the profit of your company, but pay annual taxes on the profit?
Also if so, is this provisional tax or annual tax?

Is the depreciation of a private vehicle an allowable deduction?

  Written by Marc   Posted 10 February 2013

I do not own a business, I only earn a salary.

How do the medical rebates work?

  Written by Marc   Posted 9 February 2013

I was wondering if u can maybe assist me.
I?%u20AC%u2122m studying payroll and sars returns, I have an old text book with the old medical aid rates of 720 & 440. I hav a question where I have to calculate the taxable value of medical aid. The question reads, The following tax rebates apply to medical fund contributions: R230 for sole member, R230 for first additional dependent, an additional R154 is allowed as a REBATE for each additional dependent other than the first dependant.
...

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When can I apply for a tax directive?

  Written by Marc   Posted 8 February 2013

My employment was terminated and I applied for a tax directive, for my terminal benefits, which I received from SARS which allowed me to get my final payment tax free. My employer however claims the termination of my contract does not constitute retrenchment and therefore I misrepresented the reason for requesting a directive. Is this true? I did detail on the form the breakdown of the money (December Salary, Bonus and Leave pay) I had received and SARS gave me the directive.

PROVISIONAL TAX VS PAYE QUERY?

  Written by Marc   Posted 8 February 2013

I am a Freelance Art Director, started Freelancing mid Sep 2011. At the end of tax year 2012, I submitted my tax which reflected income from projects that I had under-taken. Some of the companies that I did projects for automatically deducted PAYE @ 25%, although a few of them did not which was also reflected on the tax return. Resulting in me having to pay the shortfall PAYE to SARS per project that did not deduct tax. I was then told that I had to register for provisional tax which I did. MY D...

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Medical Aid Tax Credits

  Written by Marc   Posted 7 February 2013

Just want to know how it works with the Medical Aid Tax Credits. My friend works for a private company and on his Pay Slip under credits he has Medical Aid Tax Credit and the amount that is credited to his PAYE. I however work for Dept Health, the Government and on our salary advice there has been no change. I see nothing on my salary, have never received more money since this system kicked in, and nobody can answer my question. When will I see this tax credit due to me? Somebody mentioned I m...

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Tax on local interest

  Written by Marc   Posted 4 February 2013

Please can you tell me what tax I would pay on say R10,000.00 per month interest
from local money market. I see R22 800 p a is tax free, then the local table applies, does
that mean after 60.000 pa. This would be my only form of income.

How much tax must I pay?

  Written by Marc   Posted 3 February 2013

I'm currently earning R10 000 and paying R1 306 for my own medical aid as it is not provided for by my employer. How much tax must I be paying?

MY EMPLOYER PAYS MY FULL MEDICAL AID IN LIEU OF SALARY INCREASE.

  Written by Marc   Posted 1 February 2013

HOW CAN II BENEFIT FROM THIS? IT SEEMS SARS DOES NOT TAKE THIS ACCOUNT.

How much tax do I pay on R6000 a month?

  Written by Marc   Posted 1 February 2013

I am asking on behalf of someone...
She earns R6000 a month and there is no deduction coming off, that is the amount deposited into the bank account. With that income every month, what deduction should her employer be taking off every month??

I have not filed tax returns since I don't work in SA anymore. Do I need to do this?

  Written by Marc   Posted 1 February 2013

Hi Taxtim! I'm a SA citizen but a resident in Canada for the past four years and paying taxes here (even for investment income earned in South Africa). I worked in South Africa and fulfilled all my tax obligations for the time I worked there. I still have investments (share trading and mutual funds) , Retirement annuity and joint property with my brother in South Africa. Do I need to file tax returns in SA?

Do i pay tax if i earn less than R5200.00 per month?

  Written by Marc   Posted 31 January 2013

I live in South Africa and earn R5000.00 a month. Do i need to pay tax?

How do I fill in the form as a salary earner PLUS freelancer?

  Written by Marc   Posted 30 January 2013

If I earn extra money as a freelancer, over and above my monthly salary, and I'm not registered as a business / CC, how do I fill that in on the form? i.e. I'm not the "director of a Private Company or a member of a Close Corporation" as it says in Section 13 & 14 - but I do freelance work outside my job that pays me (and some of it is foreign income).

How to do company tax returns?

  Written by Marc   Posted 30 January 2013

How many times should I submit the returns for my cc?

Can you help me with Provisional Tax return?

  Written by Marc   Posted 30 January 2013

I am retired and my income is from Momentum who have invested my Pension Contributions when I retired. I always go to SARS to assist with my Return and was told last year that I am a provisional tax payer because of the savings I have and the interests I receive from these (over the allowed amount). I went to SARS to assist me with my first Provisional Tax Return in August 2012 & had to pay in R1000. I am very nervous to do Period 2 for 2012/2013. Are you able to assist me?

I don't know how to answer "Did you make any retirement annuity contributions?"

  Written by Marc   Posted 29 January 2013

I don't know how to answer "Did you make any retirement annuity contributions?"... I do have a retirement fund, but the contributions come straight from my Cost of Employment at the University of Cape Town before I get my salary, and they're on my IRP5.
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