Rental income allowable tax deductions

  Written by Alicia   Posted 22 May 2016

I am currently in the UK and need some help regarding various tax related queries before I tax return to South Africa within the next 2 months

Including my tax return I did online before I left. (needs to be finalised)
A bank account change at SARS. (do I have to do it in Person)
I need to register a SA company for VAT. I would like to know how long I must be in the UK to have a tax benefit in South Africa. I have been working here since 1/1/2016 and have to tax return before 31/07/2016...

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Tax on inheritance received by an individual

  Written by Alicia   Posted 22 May 2016

I have recently inherited a sum of money from two sources. One, my late mother's estate account via a will and the other, a pension claim from my late mother's pension fund(GEPF). Both these amounts were taxed before they were paid over to me. Both the executors and GEPF submitted tax directives to SARS in order to facilitate the tax payment process before making payment to me. My salary income falls within the necessary category in order to be required to submit a tax return. How will I be taxe...

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Will I have to pay tax on my late husbands RAF claim pay-out?

  Written by Alicia   Posted 22 May 2016

My husband was killed in a motorbike accident by a drunk driver. I am awaiting a settlement from the Road Accident Fund and I have a few questions please. 1. Will I be taxed on the amount paid out to me for my kids and I
2a. Will the fund deduct the amount before the payout?
2b. Or must I pay it afterwards and how does that work?
3. How much is the tax? I was 26 when he was killed, and my kids 3years and 8 months respectively... I am scared the government made me wait all this t...

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Filing season start date?

  Written by Alicia   Posted 20 May 2016

When can I start on my tax claim,

How to complete the IRP3(a)

  Written by Alicia   Posted 20 May 2016

In terms of the IRP3(a), how does one do the manual calculations of the taxation that should be deducted if ''other''(X) is ticked under the directive reason, as there are calculations available for the retirement and severance benefits.

How is CGT paid, is it deducted from gross investment or added to gross annual income

  Written by Alicia   Posted 20 May 2016

If you are subject to capital gains tax, how is it paid, is it deducted from gross investment or added to gross annual income

2014 Tax Deductions Not Claimed

  Written by Alicia   Posted 19 May 2016

A few years ago (in 2013) when I submitted my tax returns I omitted to claim for a large amount of medical expenditure. Can I rectify this situation, or, is it too late?

Tax implication on provident lump sum fund benefit

  Written by Alicia   Posted 19 May 2016

I've been unemployed for the past six years. My tax number with SARS has been deregistered. Insurance company requested an IRP3 directive on my behalf from SARS. This was declined as I needed to re-activate my tax number. I'm awaiting for re-activation of my tax number. Presently I'm unemployed, will I be taxed and how much?

Can i setoff my personal rental against the rental income of my only property?

  Written by Alicia   Posted 19 May 2016

I built a home, had to move for work and am currently renting out my primary and only property for R16500 per month. In the area to which I moved for my new job I now rent a flat for R10 000 per month. Is there any differentiation in SARS for this scenario or is it regarded as an income of R 16500, I don't mind paying tax on the difference, but it feels like exploitation if I need to pay tax on the full amount of rent earned, I spend R 10 000 on having a place to stay!

Am I paying PAYE?

  Written by Alicia   Posted 18 May 2016

How would you know if you really paying tax?

How do I claim my travel expenses against my allowance?

  Written by Alicia   Posted 18 May 2016

I'm a commission earner, started on the 1st December 2015. I have been using my car which I bought in July. I had a log book but some of my petrol receipts have faded a bit. When I started working as a commission earner my km where 6780, at the end of Feb they were 16956

I want to claim for travel allowance, should I use the deemed cost or the actual cost.

Turnover tax, can one claimable expenses prior to the tax calculation?

  Written by Alicia   Posted 18 May 2016

What expenses can be claimed before u calculate the tax payable on company that is registered for Turnover tax?

Additional income, and when do I register for Provisional tax?

  Written by Alicia   Posted 18 May 2016

If I do freelance work and get paid via Paypal what are the tax implications of withdrawing the funds into an FNB account, this would be a second source of income

Sequestration and Business Vehicles

  Written by Nicci   Posted 13 May 2016

If I have been declared insolvent, can I still make claims against the business use of a vehicle if not registered in my name? For example, I make use of a vehicle registered in someone else's name, but I still make the payments as I am the driver of the vehicle for business purposes. Also, what if exemption was granted and I kept my vehicle, will I then still be allowed to claim against the use of my vehicle used for business even if I am sequestrated?

Documents needed for home office deductions

  Written by Alicia   Posted 13 May 2016

I have recently started a new job which is contracted as home based. What documents should I start collecting / saving to ensure that I am able to write off expenses incurred on my home office etc?

Do you submit to SARS on clients behalf?

  Written by Alicia   Posted 13 May 2016

Do you provide a service, whereby you do the submissions on my behalf, like what my broker does?

International transfers and disability income taxed in the UK

  Written by Nicci   Posted 12 May 2016

I am living abroad and get a disability income from Discovery Life every month paid into my South African account. If I want to transfer the money over a UK bank account, how do I do it? Also, are there tax implications in the UK then as well as South Africa when bringing it in?

Non-Pensionable income

  Written by Nicci   Posted 12 May 2016

May you please advise what is a non-pensionable allowance and how does it work.

I pay rent monthly, can I claim a portion back from SARS?

  Written by Nicci   Posted 12 May 2016

If I am renting out a flat, can I claim a portion of what I pay back from SARS?

Tax implications of UIF benefits

  Written by Nicci   Posted 12 May 2016

I retired at age 65 during the course of the 2016 tax year. I claimed UIF retirement benefits which I received monthly (part in 2016 tax year and part in 2017 tax year). Will this UIF retirement benefit impact on my annual taxable income? Will I be receiving an IRP5 or IT3a from the UIF?

Is it allowable to claim coffee, tea and filtered water for business purposes in a private company?

  Written by Nicci   Posted 12 May 2016

To what extent can one deduct coffee, tea and filtered water for business purposes (operating as a private company)? I am fully aware that input tax cannot be claimed on these expenses. Will one however be able to deduct for income tax purposes under Section 11(a) if the purpose of buying the coffee, tea and water is to consume during business hours?

Rental Income on room rented at Primary Residence

  Written by Alicia   Posted 12 May 2016

You speak about rental income earned on a second property, and expenses (interest, electricity, etc) that can be deducted from the income. Does the same apply to a primary residence owned by the taxpayer where additional income is generated eg. By renting out a room in the property?

Do we record the VAT inclusive amount in our books of accounts?

  Written by Nicci   Posted 11 May 2016

Do we record a Vat inclusive amount in the purchase account? e.g.. Purchased equipment for R108 300(inclusive of VAT) on credit, or do we just record the amount exclusive of VAT.

Am i due for a tax refund?

  Written by Alicia   Posted 11 May 2016

I want to know if SARS owes me money

Tax calculation

  Written by Alicia   Posted 11 May 2016

Tax applicable to monthly salary R29,024. 00 for a period from 3rd Nov'15 to 29th Feb'16
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