House/car repayment - tax benefits

Posted 12 August 2015

Are there any tax benefits when you are paying off a bond, car or any property?
Does that affect the person who is paying the loan or the person receiving payment, or both? As far as disclosing this on the tax return as a deduction or otherwise.

Once off amount for Tax?

Posted 11 August 2015

If I get a lump sum of R110 000 how much tax will I pay? How do I pay the tax only next year or can I pay it when I get it?

Logbook requirements for SARS for claiming travel allowance?

Posted 11 August 2015

I hadn't submitted my tax forms from 2009 and 2010 (although SARS had owed me money in each of those instances) but I'm trying to resubmit now. I got paid for some of the travel that I conducted from my business (roughly R4/km) and I kep an online logbook on Excel. Is this sufficient for SARS or do I need to fill it out on an official SARS logbook?

Correction not amended on eFiling

Posted 11 August 2015

Hi Tim. I submitted my tax through SARS efiling. I am claiming for medical expenses not covered by Medical Aid. The amount to be paid out to me was R5 700. I then had to make a correction as I found another slip which was a lot of money, so I filed for a correction. The amount they paid out in the end, still reflected the initial amount of R5 700. What should I do?

Can someone invoice me, even though I'm not a company?

Posted 9 August 2015

Can my wife invoice me for services rendered? Even though I am not a company.

Its impossible to have no refund.

Posted 7 August 2015

Its highly impossible for me to get R63 WHEN I pay so much money on tax and specialy on my payslip every month,,

Tax directives not working on eFiling?

Posted 7 August 2015

The institution submitted a Death Claim to Sanlam Umbrella fund and now they are saying they are unable to pay because SARS is rejecting tax directives what could be the cause of that because the Tax number in the IRP5 is correct

Concerning rental income and SARS?

Posted 7 August 2015

In January my wife and I we relocated. We started renting out our house since beginning of Jan 2015. In my tax return, must I count the rental income only for January and February, and subtract cost ie monthly repayment on the home loan and agent commissions?

Medical aid claims for wife that does not work, and kids

Posted 7 August 2015

I have a separate medical aid for my wife (married in community of property, also she does not work) and 3 kids which I pay for from my account. The tax certificate that we get from Discovery is on her name.

Can I claim this on my tax return and if yes, what supporting documents should I keep ready just in case SARS asks? I also have a separate medical aid for myself (reason for 2 medical aids is because of the costs).

Can I claim for cell and laptop without cell allowance or comission?

Posted 6 August 2015

I'm a sales rep. I get car allowance and am reimbursed for my mileage. Can I claim for cell and laptop if I do not get an allowance for it and I do not earn a commission? And 2nd, I have not kept any lunch slips for taken clients out for business lunches nor did I submit the slips to claim from the company. Can I use my bank statements and proof of purchase for these lunches?

Vehicle allowance

Posted 4 August 2015

If my boss pays me a certain amount as vehicle allowance and I the use my vehicle mostly for work, how do I claim on ITR?

Insolvency with SARS?

Posted 4 August 2015

SARS did not accept my tax return for refund this year. I disputed this and the dispute was disallowed for the following reason:

2015 tax return to be submitted on the after insolvency number

What does that mean? Why am I not entitled to claim back on my car allowance as I have a detailed logbook for this.

Correction on submission to SARS on individual return

Posted 4 August 2015

My Fiance received a travel allowance last year, due to seeing patients at home, she submitted her tax return before putting in her car value along with her mileage that she needs to claim, and hence didn't get any rebate from SARS. Is there anyway in which we can ask for a correction on the tax return from SARS, or what should we do? I am sure she should be due a rebate.

What should reflect on income received

Posted 3 August 2015

On IRP5 what should reflect on INCOME RECEIVED is it Total amount received per year or Total Package. Thank you

Provident fund doesnt work on my return???

Posted 31 July 2015

When I looked at my ITA34 Statement, it looks like my provident fund didnt pull though meaning it didnt get assesed amd calculated, now I owe SARS money. Is there a way of checking that out?

REFERAL FOR AUDIT WHY WOULD THIS HAPPEN AND HOW LONG FOR FINALISATION

Posted 31 July 2015

I have been referred for audit for my 2015 tax returns, why would this be the case and how long does SARS take to finalize for payment if due. best regards

How to fill return with 2 company cars

Posted 30 July 2015

How do I fill in my return when I used to company cars within the tax year they were not leased

Do I write the total business lbs for each car or the accumulated business km?

Depreciation and travel expenses for commission earner without travel allowance

Posted 30 July 2015

I am a commission earner without a travel allowance but use my own vehicle for business. The company only pays for fuel. I have to pay for maintenance, installments - sales agreement, annual licence fees etc. Am I allowed to claim depreciation on my vehicle (code 4027) and what will be allowed under travel expenses (code 4015)? What records as proof must I have to claim under codes 4027 and 4015. Do I need to have a logbook?

Thank you

Does a courier service qualify as an independet contractor? What can be deducted from income earned

Posted 30 July 2015

I have a courier service company that is not registered yet. Does this qualify me to be regarded as an independent contractor?

Because my company is not registered, SARS advised that the company's income should be added to my salary income for tax purposes. Are there any deductions from the company that I can deduct when submitting my tax return to SARS?

Correction of IRP5 by employer

Posted 30 July 2015

The amount stated on my IRP5 for my Travel Allowance is wrong. My employer decreased my allowance without my knowledge and I've only picked up the error now. My employer says it's too late for them to correct it. I now can't claim the full amount of my travel expenses for the year.

Why can't my employer submit the correct figure to SARS and give me a new IRP5?

Vehicle depreciation rebate from SARS

Posted 29 July 2015

Dear Tax Tim. I currently earn a vehicle allowance from my company which I claim a rebate back from SARS according to the business milage that I have done. Is it possible to claim back a rebate for depreciation on my vehicle as well?

Treatment of legal costs in CCMA

Posted 29 July 2015

Was unfairly dismissed and at CCMA employer agreed to retrench me. I received the correct tax directive. How do I claim the legal costs incurred to fight my employer? I am unemployment but received rental income from my properties during the tax year.

Travel Allowance Reimbursement Code

Posted 29 July 2015

If I travel for business purposes and I do not get a travel allowance, then the company reimburses me at the AA rates. How does this amount get taxed? And should I be paying tax on this?

I see the company reflected this under code 3702, should it not be under code 3703?

Can I claim toll gate fees?

Posted 29 July 2015

Can I claim toll gate fees?

What's does lease payments actually refer to?

Posted 29 July 2015

Under "travel claim against allowance" Does lease payments refer to the monthly car repayments I make to Wesbank?
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