Payment of income tax on rental income and interest earned.

  Written by Alicia   Posted 14 February 2017

I have some rental income that I would like to invest monthly in my fixed deposit. I know I must pay tax on both the rental income and the interest earned but when? I have to fill in a tax return twice yearly as a provisional tax payer. If the rental income and interest is fixed into the deposit account and I am not allowed to withdraw money, how would I go about paying the interest? Should I keep funds separate specifically for this in another account.

Deregister foor provisional tax

  Written by Alicia   Posted 14 February 2017

I am an estate agent and earn only commission income. I am registered for provisional tax, but my employer has now started to deduct PAYE from my commission. Can I now deregister for provisional tax?

TCC and tax number

  Written by Alicia   Posted 14 February 2017

How would I get a tax number and a tax clearance certificate. Please help?

Can I get my tax clearance certificate online

  Written by Alicia   Posted 14 February 2017

My tax clearance certificate has to be renewed soon, can I do it online, and how, Kindly assist.

SARS is asking again for supporting documentation, but I have already submitted it in December

  Written by Alicia   Posted 14 February 2017

I have submitted supporting documentation as requested by SARS in December already (22/12/2016). I have received another request for supporting documentation, but it seems to be for the same documents. Please help?

What are operational assets for a digital marketing company?

  Written by Alicia   Posted 14 February 2017

What are operational assets for a digital marketing company?

Tax on internship stipend

  Written by Alicia   Posted 14 February 2017

As an intern is my employer allowed to deduct tax from my stipend?

IRP6 completion

  Written by Alicia   Posted 14 February 2017

SARS says that my taxable income is an error, but I declared the income I earned for the year.They keep speaking about my previous year's income but I am no longer employed, how do I fix this?

Lump sum on IRP6

  Written by Alicia   Posted 14 February 2017

Am I supposed to include my pension lump sum on my IRP6?
Also, how should this income be reflected on the annual income tax return?

Return submission for tax year 2016

  Written by Alicia   Posted 14 February 2017

My company has a December year end. Do I submit my Dec 2016 financials for the 2016 or 2017 tax year?

Source code for renting out camera gear

  Written by Alicia   Posted 14 February 2017

Looking for the source code for a sole proprietor renting out camera gear, I am trying to apply for turnover tax and the form I'm filling in is asking for a source code?

No IRP6 forms or history on my SARS profile

  Written by Alicia   Posted 13 February 2017

TaxTim helped me fill in my provisional tax return last week but I am not able to actually put in my Provisional Tax information as SARS is not showing my IRP6 tax return for 201702, can you tell

Old returns outstanding

  Written by Alicia   Posted 13 February 2017

I have not submitted a tax return since 2007 as I was under the impression that someone else was doing it for me. How do I go about submitting tax returns from 2007 up to 2017 (10 or 11 years). Will you be able to do this for me?

When do I need to apply for a tax directive?

  Written by Alicia   Posted 13 February 2017

When do you need to apply for a tax directive? I have just been appointed as an estate agent and to date I have yet to receive my first income commission amount. Is it possible for me the apply for a tax directive already?

Tax implications on selling my second property?

  Written by Alicia   Posted 13 February 2017

What will my capital gains tax be if I received a payment of R680 000 upon selling my second property?

Rental income and fixed deposit

  Written by Alicia   Posted 13 February 2017

I have some rental income that I would like to invest monthly in my fixed deposit. Do I pay tax on the rental income and the interest yearly? I am a provincial tax payer which means I have to predict my income?

Late return

  Written by Alicia   Posted 12 February 2017

I misplaced my supporting documents for my 2016 tax return last year, I have since found it but I needed to know if I can still submit my tax form even now that it is late?

Refund or amount due to SARS

  Written by Alicia   Posted 12 February 2017

I have minus signs in front of my refund amount on my transcripts what does this mean?

Awaiting registration verification

  Written by Alicia   Posted 12 February 2017

I opened a SARS eFiling profile but are able to click on the returns option, do you know what I am doing wrong please?

Why does Tax Tim not ask me about Assets and Liabilities?

  Written by Alicia   Posted 10 February 2017

Why does Tax Tim not ask me about Assets and Liabilities if I am a sole trader?

Why did they double tax me?

  Written by Alicia   Posted 10 February 2017

I received an increase of 50% on my salary in January, but the tax on my salary seems to have more than doubled, can you tell me why this is?

Tax on rental accommodation for staff

  Written by Alicia   Posted 10 February 2017

If a farmer supplies residential accommodation to his workers and deduct from their wages an amount of compensation (rent) for the benefit, should he be taxed on the "rental income" he receives?

Can I submit a return?

  Written by Alicia   Posted 10 February 2017

do i qualify for tax refund as a contract administrator?

Travel Claim not allowed by SARS

  Written by Alicia   Posted 10 February 2017

Hi Tim, I received a travel allowance upfront however I do a lot of traveling between two offices and I claim back travel on a monthly basis capped at 1850kms though I travel in excess of 2000kms per month. I've filed my tax return showing both business travel and personal but now SARS says I owe them about R27000. How is that possible when I didn't claim for the excess travel I did, just the capped 1850km. I can follow through their calculation but do not understand why they didn't include busi...

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Business Asset

  Written by Alicia   Posted 10 February 2017

Can a business buy a car from a private person
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