Tax whilst employed fulltime and a director of a PSP private company

  Written by Marc   Posted 21 February 2015

Hi Tim thanks for the awesome work. How does being a director of a private company affect personal income taxes( noting that this work is occasional in addition to being employed full time during the week) if the service offered is of a personal service provider nature and a. The director does not take fees or income From the company. B the director earns fees/income from the company is provide the personal service himself. Thanks

Amount monthly paid for tax

  Written by Marc   Posted 21 February 2015

How much tax do I pay if my net salary is 8000r?

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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PIT Assurance Audit turnaround

  Written by Marc   Posted 20 February 2015

How does one get selected for a SARS Assurance audit? What is the turnaround time?

Depreciation on private vehicle

  Written by Marc   Posted 20 February 2015

Can one claim depreciation on a private vehicle if you have already claimed for travelling - Commission income

Dont know if SARS has my correct banking details?

  Written by Marc   Posted 19 February 2015

How do I check my banking details on SARS efiling, as there is still an amount due to me from 2 years back. And still I have not seen that money in my bank account. Its still reflecting the negative amount on my defiling account.

Is SARS Randburg open on Saturdays

  Written by Marc   Posted 19 February 2015

TaxTim is SARS Randburg open on Saturday, im getting conflicting reports.

What does annual tax on amt mean?

  Written by Marc   Posted 19 February 2015

What does annual tax on amt mean? this appears on a payslip and paye

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 TO RESET MY PASSWORD AND LOGIN NAME

  Written by Marc   Posted 18 February 2015

I NEED TO LOG IN TO EFILING I FORGOT MY PASSWORD AND ALSO LOGIN NAME

Medical refund from SARS?

  Written by Marc   Posted 18 February 2015

What is the limit a person can claim for medical paid cash out of your pocket and not by medical aid. Even though we have medical

How can I get my tax number?

  Written by Marc   Posted 18 February 2015

I need my tax number for the work, how can I get it without waiting for agent or to go to the office for my number?

Individual power of attorney

  Written by Marc   Posted 18 February 2015

What power of attorney do I need for an individual to request his/her tax reference number for them at SARS?

Beneficiary of R80 000 from a will

  Written by Marc   Posted 18 February 2015

If I received R80 000 from a deceased's will how much tax do I pay on that amount

E.g on R215 000 gross what percentage tax do I pay to SARS?

  Written by Marc   Posted 18 February 2015

What is the percentage tax payable on gross earnings per group?

Must I pay taxes at age 20?

  Written by Marc   Posted 18 February 2015

I am 20 years old and I earn R78000 p/a should I pay tax?

What is fsp purpose in relation to tax and pension funds

  Written by Marc   Posted 18 February 2015

Can FSP help with tax matters and pension funds payout. Are they helpful or just another daylight robbers?

How long, if you dont have a tax number, do u have before you need if u have recently been employed?

  Written by Marc   Posted 17 February 2015

Lets say someone just recently started working, and wont be able to get their tax number before pay day. Is there an allowance or period that that person allowed to get my tax number without any penalties?

My wife earns 35% commission (salary) per month ,how does her employer calculate her PAYE?

  Written by Marc   Posted 17 February 2015

My wife does not earn a salary but earn 35 % commission on all work done. She generally earns more
than R10 000 per month. How does her employer calculate her PAYE?Can one use the calculator on
your website?

Withholding of information and tax related information

  Written by Marc   Posted 17 February 2015

I am a member of a CC which was used for transactions of another person. The tax returns have not been submitted and they refuse to provide the information to enable me to submit these returns. They even "hijacked" the CC's info on e-filling, so I am unable to get any information. What must I do now?

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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Medical deduction 2015

  Written by Marc   Posted 17 February 2015

Can you please tell me what will happen when I am older than 65 and have no medical aid, but do have medical expenses. What will my deduction be for the 2015 tax year if my other medical expenses R36 000 and taxable income R 350 000?

Can we deduct loan payments ans taxi fare expenses?

  Written by Marc   Posted 16 February 2015

Hi TimI would like to know if a private company can deduct a loan repayment which was utilized in the production of income, the proceeds received and receivable, of which have been included in gross income. Furthermore, can the company also deduct other miscellaneous expenses such as taxi fare and so on. Thank you.

Provisional tax for bonus paid

  Written by Marc   Posted 16 February 2015

Ood day Tim, I heard from a passerby that I can ask my company to deduct provisional tax every month from my salary for the next reason :When I receive my annual bonus, it can be paid out in full, due to the fact that I already paid the tax throughout the year. Does this make sense? And how legit and effective is this? What if I am not due for an bonus for any reason whatsoever. . . Will the company be able to return the provisional tax money paid?

IT3a When do I recieve it.

  Written by Marc   Posted 16 February 2015

When do I receive a IT 3a to declare the income at the end of Tax year.
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