Medical scheme fee tax credit is greyed out and no credit amount reflex on IRP6.

  Written by Marc   Posted 6 January 2015

On the provisional tax for individuals 2nd period 2015 the the medical scheme fee tax credit is greyed out and no credit amount reflex in this column on the IRP6. On the first period this was correct for two people with an amount of R6168.00 was filled in. After various calls S.A.R.S they cannot give me a reason and for a month have not come back to me with any answers.

Getting a Salary vs Invoicing the Company?

  Written by Marc   Posted 6 January 2015

Good day. I was wondering if TaxTim could help me with a query relating to my salary at my new job.

The owner prefers me to invoice him for my services at the end of the month. My question relates to what the tax implications will be with this? The remuneration is R120K per year and will be paid monthly.

Does this require me to act like a small business? And is the tax payable more or less in this case?

Thanks for your time

Possible change in provident fund laws?

  Written by Marc   Posted 6 January 2015

If I want to take out my provident fund in April 2015, will I be able to take out the full amount?

What does a risk assessment entail and when will I receive my money. I am a pensioner

  Written by Marc   Posted 6 January 2015

I did my return at the Roodepoort offices of SARS where all the details were input by a lady at SARS because I could not get my various certificates to 'pull through'. The lady handed me an ITA34 and said she was surprised that I was not selected for audit. The ITA34 shows SARS owes me R1 000 odd. This is now outstanding since 22 November and when I query this, I am told that this is due to a risk assessment being done by SARS. The first time I queried this I was told it would take 90 days t...

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Missed 3 years of returns and want to correct it?

  Written by Marc   Posted 5 January 2015

I missed years 2011, 2012 and 2013 tax returns, am I able to submit them still?
I have been unemployed since 2010, and have done a 'zero' tax return for 2010, 2011 and 2014.
Or shall I just leave it?

Settled business/private car tax allocation

  Written by Marc   Posted 5 January 2015

I have paid off/settled my car 4 years in advance that I use for business and private purposes. So far I've kept track of km for each and apply that percentage to my monthly installment as business expence. But how to go now about with the settled amount paid? What percentage must I use to allocate for tax purposes?

Can I invoice my employer as if I were a consultant instead of being an employee and paying PAYE?

  Written by Marc   Posted 5 January 2015

The question, I am employed by a company full time to which I fall in the 38% tax bracket and would like to figure a way out to pay less tax especially when I get paid commission over above my salary.
My company is open to the idea that I open a 'consulting' company to which I then invoice my employer as if I am not employed by them.

Is this possible and what are the implications of this approach?

Will I receive 100% of the value of a charitable donation back as a tax-refund?

  Written by Marc   Posted 5 January 2015

I understand that I can claim deductions for charitable donations to a registered PBO (with a section 18A certificate) up to 10% of my taxable income. I am wondering whether I will receive the full value of my donation back with my tax refund or only a portion of it. I like the idea of donating up to 10% of my taxable income, as I will have a say in where it goes. However, this will be a sizeable portion of my income and can only do this if I'm sure of receiving the income back in my tax refund.

Medical Expenses when not belonging to a medical aid?

  Written by Marc   Posted 5 January 2015

I am on my wife's medical aid. June' 14 our funds in our medical savings account ran out. Since then I have been paying cash for prescription medication and various tests, etc. Can I claim the out of pocket medical expenses from SARS as it amounts to almost R 18k.

How do I pay small business tax?

  Written by Marc   Posted 5 January 2015

I've just registered (jan 2015)my small business no serious and amount has been made yet, but we have up coming projects. Its an events company should I register it with SARS or as I read after it has made a million??

Question 2: I have 2 employees that requested payslips, how do I P.A.Y.E since I don't have a PAYE number? Or did CIPC informed SARS about the company?

What is my Gross salary is my Net salary is R10 000,00? (+UIF & PAYE)

  Written by Marc   Posted 31 December 2014

My NET salary is exactly R10 000,00. What would my gross salary be? ( UIF & PAYE)

Provisional Taxpayer or not?

  Written by Marc   Posted 29 December 2014

Im currently working for a employer whom pays my salary monthly along with benefits such as Vehicle, Cell Phone, Medical and UIF/Pension. I'm also a partner in a small business that doesn't return large amounts, largest would be R60 000.00 per annual however would be paid out as a salary and also taxed. Would I therefore fall under a provisional tax payer or normal? Noting again that the income gained from the business is paid as a salary over the year and has its own taxes on it.

Registering as a SA taxpayer

  Written by Marc   Posted 28 December 2014

Hello Tim!

I'm a foreigner living in SA on a relative visa, with my spouse. I would like to get a business endorsement on my visa.
1. At this stage, do I need to register as an income tax payer only?
2. How long will it take me to get the taxpayer's number from the day of submission?

Please, let me know.

Many thanks!

How much tax will I pay from my resignation benefits?

  Written by Marc   Posted 26 December 2014

I'm an educator resigning January 2015, I worked for 26yrs...my total contribution is 1767035.01...how much will I pay for tax?

How can one claim a software subscription service from SARS?

  Written by Marc   Posted 23 December 2014

How can one claim a software subscription service from SARS? More software companies are converting to software subscription services (either monthly or annually) instead of the traditional initial large amount.

Refunds from SARS?

  Written by Marc   Posted 23 December 2014

How long does it take for a refund to be paid once an audit/verification and resolution have been done?

Tax Refund Calculator?

  Written by Marc   Posted 22 December 2014

The calculator....."Work out salary tax (PAYE), UIF, taxable income and what tax rates you will pay"...does not include interest (local foreign), dividends (local foreign), rent, "other" income...

Can I still claim my taxes this year?

  Written by Marc   Posted 22 December 2014

Can I still claim for my taxes this year and what is needed?

Tax Return Calculations

  Written by Marc   Posted 22 December 2014

If I make use of TaxTim, do I get to see my completed tax return before TaxTim files it? Do I get to see the calculations before filing?

If you're audited, papers are submitted how long before you receive the money from SARS?

  Written by Marc   Posted 19 December 2014

eFiling for tax has been done end of November 2014. It's been chosen for audit and the papers were submitted. How long before you receive the money?

Tax on Interest only income?

  Written by Marc   Posted 19 December 2014

I'd like to know how tax works based on this assumption:
>>
I have only one income and it's purely from interest earned off of investments (simple investments that give a fixed rate monthly so nothing funny about offshore, shares, etc.)
>>

My guess is that it's the equivalent of earning a salary (i.e. if you earned R3500 in interest monthly that you'd look up the tax rate in the current tax booklet and therefor have to pay nothing as tax appears to only be required when earning more than R5891 monthly)...

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What is that duration to get a tax number for a company?

  Written by Marc   Posted 18 December 2014

What is that duration to get a tax number for a company?

Pro rate exemption on primary residence?

  Written by Marc   Posted 18 December 2014

Would I qualify for pro rata primary residence exemption if I let my house for 7 years while out the country. The property was purchased in July 2001 as my primary residence then rented out from June 2006 to date of sale March 2013. I have not lived in the house since May 2006.

Are SARS going to lock me up?

  Written by Marc   Posted 17 December 2014

What happens if SARS obtained a court order against you and you did not know?

SARS delay in refunding?

  Written by Marc   Posted 17 December 2014

Hi Tim..I submitted my outstanding returns for 2012 on the 02 Dec and 2013 on the 09th Dec. The first one was selected for verification/audit and I submitted the supporting doc on the 3rd, there was a refund due of r971. The second one reflected a refund due to me of r13k, and was not selected for audit as per the notice that is viewable on efiling. I tried calling the contact centre but its a a nightmare to get through. I decided to send a request via email all I needed to know is when the ...

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