Salary paid and claimable expenses?

  Written by Marc   Posted 26 January 2015

1. I am a salaried employee, I receive a travel allowance so I claim my business km's by using a logbook- but I would like to know whether I can also claim the depreciation on my vehicle even if I claim km's?

2. My wife was unemployed for 18 months, so I paid for her medical aid, she submitted a 0 return for herself, would just like to know whether I can claim the medical aid expenses on my tax return ( as I paid for it, but it is on her name). 3. I have a Samsung Tablet which I use 9...

Read more →

S10(1)(o)(ii) - does all the time out of SA need to be spent actually working?

  Written by Marc   Posted 25 January 2015

I am a freelancer, and last year I spent 248 days out of SA, in three blocks (including one block of more than 60 days). During some of this time out of the country, I did some contract work - two jobs for two different foreign companies, and one job for a South African company. But I spent much of the time not actually working, but travelling/holidaying. Of the 248 days, only 97 were spent on work contracts. So I just want to clarify whether the income I earned on those three contract jobs is t...

Read more →

Treatment of reimbursive and travel allowance in the same period?

  Written by Marc   Posted 20 January 2015

How do we calculate business km's when employee has got both reimbursive and travel allowance?

Can I claim more than the allowance: note salary is more than 50%

  Written by Marc   Posted 16 January 2015

I am a business manager earning a salary/commission. Salary is more than 50% . I receive a travel allowance of 2500 per month.My m/v expenses are greater than 2500 per month. Can I claim more than the R30 000 allowance?

Maintenance claim on my vehicle if only recently started getting travel allowance for my personal mv

  Written by Marc   Posted 14 January 2015

I am a permanent salaried employee, I use my personal vehicle for business purposes, my company pays for my fuel, but I only recently started receiving a travel allowance, it has been worked into my current package so I don't get paid more it has just been incorporated into my salary package.

My question now is, will I be able to claim for the maintenance as per SARS calculation and my logbook? I have been using my vehicle since the start of the tax year, but as mentioned only starte...

Read more →

Examples of other taxable allowances falling under code 3713

  Written by Marc   Posted 13 January 2015

What does code 3713 on an income tax cover- examples of other allowances taxable

Calculating fuel expenses for ad hoc freelance work?

  Written by Marc   Posted 8 January 2015

How do I calculate car expenses for ad hoc freelance work? As an employee I'm reimbursed at the SARS rate for travel and it is recorded on my IRP5. But as a freelancer doing a couple of ad hoc jobs over the course of a year, whilst still being employed elsewhere, how do I calculate the expense per km, and what documentation/records do I need to keep?

Calculation of 183 days outside South Africa for income tax exemption as per Section 10 (1)(o)(ii)

  Written by Marc   Posted 8 January 2015

Can the entry and exit dates as per the South African Passport Control stamp in you passport be used as the entry and exit days (both days included) to calculate the 183 days outside South Africa for foreign salary income tax exemption, as per Section 10 (1)(o)(ii) for example: depart from South Africa the morning of 1 January 2015, passport stamped as "exit" by South African Passport Control and enter South Africa again on afternoon 10 January 2015, passport stamped as "entry". So days outside ...

Read more →

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

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?

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.

Confusing situation with SARS calcs methodology

  Written by Marc   Posted 11 December 2014

SARS - Why is an "original assessment" ITA34, positive amount, taken into consideration in the final SOA, even though a final "after a correction" ITR12 submission calculated to a negative reduced amount?What is the use of requesting and allowing a "request for correction" then in the first place?Shouldn't the final submitted ITR12 negative result (after corrections) be the only assessment that counts and be taken into account in calculations of your final SOA...

Read more →

Bussiness travel deviation, how do I claim bussiness mileage?

  Written by Marc   Posted 10 December 2014

I am driving from home to a business meeting, so its business mileage, but I have to drop my spouse at work which is a few Km's off the normal route to my destination. Can the total distance driven still be claimed as business travel?

Have car allowance but using car that is not registered in my name?

  Written by Marc   Posted 2 December 2014

I get a car allowance and the car I am using is registered in my wife's name. She is paying for the vehicle. Sars is refusing to pay me a refund because the car I am using is not registered in my name. Can they do this or do I have grounds to dispute this.

Can I claim on diesel?

  Written by Marc   Posted 27 November 2014

what can I claim back from the tax as a cc example: diesel and how does it work we have got 2 vehicles that does all the work for the call outs and work to be done

If my bonus is equal to my salary but includes allowances am I liable for dubble the UIF and PAYE?

  Written by Marc   Posted 25 November 2014

If your bonus is equal to your salary but it include travel allowance and telephone allowance how is it calculated for example;
My gross salary is R8800.00 (Basic Salary Allowance transport R500 R300 telephone allowance) bonus R8800.00 gross Income=R17600.00
How much will the UIF be and the PAYE?

What do I apply for in Freelance?

  Written by Marc   Posted 23 November 2014

Hi.I am getting paid a fixed monthly amount from a company to do merchandising for them 3 times a week.This is my only source of income? (R7000,00 per month)I will also need to pay my petrol with this income as the job require traveling?What do I need to apply as?will it be a tax directive or a provisional tax payer?

Treatmnet of taxable earnings refunded in clawback of maternity leave

  Written by Marc   Posted 21 November 2014

My question is around the treatment of the tax on maternity leave that is clawed back. Our company pays 4 months full pay while an employee is on maternity leave,but there is a clawback should the employee resign within 12 months of returning from maternity leave.

We calculate the clawback on a gross salary plus allowances and any benefit payments, eg: Basic pay, plus travel allowance, plus company paid medical aid, plus company paid provident fund, and deduct the sum of these from any outstanding money due to the employee. We deduct the total due as an advance and credit the cost centre accordingly....

Read more →

How to claim Motorcar expenses

  Written by Marc   Posted 21 November 2014

I am self employed (Handyman) and use my car to get to the places of business. I keep a log of km traveled for business. SARS informs me I am NOT allowed to claim any expenses with respect to my motor vehicle. Is that true? If not how to go about it?

Debit Loan Accounts & DWT

  Written by Marc   Posted 21 November 2014

I'm the sole member of a CC & have a debit loan account amount of approx R200,000 for the 2014 tax year.I believe that this raises certain DWT issues etc and was wondering if the CC charges me market related interest on this amount for the year & adds this amount to my loan account, would this solve my problem & not have to declare a dividend to balance the loan?If also heard that if the deemed dividend rule (DWT) will not apply if the loan is repaid or otherwise extinguished by...

Read more →

Business parking fees

  Written by Marc   Posted 21 November 2014

Where in eFiling do you log business parking fees?
(If your business is in a business park)

How to input a donation on eFiling?

  Written by Marc   Posted 20 November 2014

I made a Section 18A donation. There is nowhere to input it on my eFiling. How do I enter and what is the source code?

travel claims on fixed & commission income

  Written by Marc   Posted 20 November 2014

I work for a company that pays me a fixed salary but also pays commission on extra work I bring in.
They do not pay me for any travel at all,. Can I claim work related travel on my tax return?

How do I know whether to deduct wear and tear or lease payments on travel claim against allowance

  Written by Marc   Posted 20 November 2014

I receive a vehicle allowance and use a hired purchased vehicle for business use and need to know how to choose between depreciation (wear & tear) or lease payment on Travel Claim Against Allowance.

I guess what I'm asking is whether SARS sees a hired purchase payment the same as a lease agreement payment.

May I choose between the greater of the two?
Older posts →← Newer posts    10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30