Maintenance claims on pension fund

Posted 19 April 2017

Will monthly maintenance claims by ex-spouse as per a successfully lodged divorce order against my pension fund be taxable in the hands of my ex-spouse, or deemed as income for myself? Will it be treated as exempt from normal tax?

Income from overseas

Posted 10 April 2017

My wife does some occasional freelance work for a company overseas. As well as here in South Africa.
Her local freelance brings in about R3500 per month. She doesn't currently pay provisional tax as the amounts are too small. She's recently taken on some international freelance work that amounts to
about R10500 every second month or so. What are the tax implications of the international income?
Does she need to declare it and can she declare it as a donation?

Capital gains tax or income tax - forex trading

Posted 9 April 2017

What's the difference between capital gains tax and income tax? Which of the two does retail forex trading fall under?

Emigrating and tax affairs

Posted 6 April 2017

What does SARS need to finalise tax affairs when emigrating? All my local income will come to an end once I leave.

CGT on primary residence (if it has been let out - also my only residence)

Posted 4 April 2017

What CGT would I be liable for if my primary residence is my only residence - but rented out?

Income Tax on Dividends

Posted 4 April 2017

When receiving a Dividend from a Company (as a Shareholder). The Shareholder is taxed at 20% of the value on the dividend paid. If you're also earning a regular salary and paying PAYE monthly, would such dividends paid, be subject to additional Income Tax?

So, basically, would regular Individual Income Tax also apply on the dividend again after paying the 20% Dividend Tax?

Paypal and tax submissions

Posted 28 March 2017

I'm permanently employed and I plan on making extra money through surveys and Paypal. How would I submit this to SARS? I've not done anything like this before and I wouldn't like to make an error with my tax return. And, would I have to declare the money if I don't actually take it from my Paypal account?

Is the Package Correct?

Posted 27 March 2017

I'm filling out my 2017 tax return for Individual Return. My income is covered in part by an IRP5, and in part by a foreign deposit. Can I declare both on TaxTim?
I also just bought the TaxTim Ultra package because of the foreign income, but the email says I should only use the voucher on July 1st. Have I bought the wrong product?

Cruise Ship employee and Tax Laws

Posted 26 March 2017

I'm a SA resident and work on a cruise ship as a waiter for a company that travels all over the world. Most of my income is derived through gratuity from passengers. How would this relate to the new tax law for foreign income mentioned in the latest budget speech affect us? Will I be subjected to pay tax on the gratuity I earn?

Provisional Tax and REIT Income

Posted 24 March 2017

I'm a stay at home mom. The only income I get is from interest ( - R10000.00), dividends (-R15000)and REIT Income ( -R25000). I file only 1 tax return per year. Should I be registered for provisional tax due to the REIT income?

Living in Namibia, but working for a company in SA.

Posted 17 March 2017

I live in Namibia, but work for a South African company.
I'm a South African citizen. Under the new changes brought in with the budget, how will my tax work? I'm still working for the same company (I have been working for 7 years in total).

Foreign Income

Posted 16 March 2017

I'm currently staying in South Africa. I receive income from foreigners, for hunting trips outside of SA borders. I'm usually out of the country for a week or two at a time. Is this income I'm earning taxable in SA?

Do I get Tax back on a loss from selling shares?

Posted 15 March 2017

I bought shares in a private company (cost me 100k). We have now sold the company in full and my portion of the payout is 80k (i. e. 20k loss). Can I claim tax back on this amount? And if so, what do I need to do it?

Can my company add rental car fuel to my car allowance?

Posted 28 February 2017

If I have a car allowance and on occasion I am required to use a rental for business travel after flying to a far destination, can my company add this fuel cost to my car allowance and withhold taxes on fuel used in the rental vehicle

I repair appliances and also repair my own vehicles.Do I have to do 2 returns?

Posted 27 February 2017

I'm repairing appliances and my own vehicles. Do I have to do 2 tax returns?I also recently repaired another vehicle. Do I have to show it in 2 tax returns-1 for appliances and 1 for vehicles?I have to repair my own vehicles because I cannot afford to pay for repairs to be done.

Will the reason given on a tax directive affect SARS's decision?

Posted 24 February 2017

Will the reason given on a tax directive affect SARS's decision; if the severance benefit is being paid out as a result of a voluntary settlement between employee and employer, is SARS less likely to grant the directive?

Is occupation rent an allowable deduction against rental income?

Posted 24 February 2017

Is occupational rent paid to a developer, of a new-build property, an allowable expense to deduct from taxable rental income? The property in question was rented out in the same tax year as occupational rent was paid.

Which base cost to use when calculating CGT?

Posted 24 February 2017

I bought some Satrix Divi through the Satrix Investment Plan in Aug 2007. All dividends were reinvested by Satrix, ie every quarter more shares were bought. In July 2011, I transferred all of my "units" to an online broker and made no further purchases. For the first few months, my statements from that broker show a base cost per share of 0. Suddenly, in the March 2012 statement, it lists a cost per share, which appears to be the share price on March 16 2012. I have just sold these share...

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Do I need to file a tax return with R260 000

Posted 24 February 2017

I am unemployed but earn interest income ( approximately R260 000 annually)from fixed term deposits
I am under 65 and contribute to medical aid and retirement annuity
Do I need to file a tax return

How will tax work on my bank account with other peoples money in it?

Posted 21 February 2017

Me and five members of my family want to start investing. Before the profits will be paid out the company that does the investments does the tax part on it and then pay us the profits. What I want to know is, if they pay the family members profit into my bank account with my profit will there be any problems with tax on my side because all the money is going to my account. The company will send each of us an IRP5 at the end of the season so that each of us can fill in our tax return.

SARS refund document verifiction

Posted 21 February 2017

Hi, I have filed tax returns with SARS through a practitioner in 2016 for the period (Aug 2015 - Jan 2016) when I was working in SA but I have been notified by SARS to verify bank account and address. As I am not staying in South Africa any more and currently in USA, can not go personally to SARS branch. There are some additional things to this now. I sent scanned copied of the documents like address proof and FNB bank account confirmation along with employment proof and passport to practitione...

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Sale of rental property

Posted 17 February 2017

My son works abroad, but he owns a rental property in South Africa which he sold recently. Is he required to pay capital gains tax on the proceeds?

Are foreign students required to pay tax on their earnings for part-time work?

Posted 17 February 2017

My son is a foreign student studying for his degree at a South African University. He has a valid Study visa and is permitted under this visa to work 20 hours per week. His employer wants to pay him a salary of R10,000 per month. Firstly does my son have to pay tax on this and if so, how does he register with SARS without a SA Identity document?

Paying double tax on pension

Posted 16 February 2017

I get paid a monthly pension from my late husband's employee benefits, on which PAYE is deducted. On the annual tax statement and the details that get sent directly to SARS, it will show the full gross pension for the year, less the PAYE paid. Why then, does the net pension amount (after PAYE) still get included in taxable income for the year? Surely I am then paying PAYE as well as another layer of income tax on the remainder, i. e. On the net income? My tax assessment shows the taxable pension...

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How do you perform tax calculations for property and interest while married in Community of Property

Posted 16 February 2017

My husband and I own property, receive interest income and are married in Community of Property. What percentage of the property income, property expenses and interest income should we each include on our Provisional tax under the total turnover and estimated taxable income respectively?
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