Does a 91 year old widow whose only income is R7200pm from an Old Mutual investment have to submit a tax return? I remember hearing that some people no longer have to submit tax returns and an old friend is not sure whether her tax consultant is doing anything.
If I need to register my child (minor) for tax due to interest and or CGT earned from their investment - do I register them as a provisional tax payer or as an individual tax payer? If my child earns less than R 75,000 through interest/CGT do I still need to register them for tax even though they have no tax liability?
The pricing on your website for individual tax - would assume that this is per tax submission?
Hi, I'm trying to figure out when I need to submit my first tax return. I moved to South Africa on 30th January 2015 and started working on 9th February 2015. No other income other than salary from employer. When is my first tax return due please?
What is an IRP5? I worked last year for seven months and my salary before tax was R16777. I have never submitted a tax return before and am pretty sure I am under the threshold but I want a refund, but have no idea what to do. I didn't receive medical aid or any benefits. Please help.
A sports coach at a school is paid per hour but only earns around R3000 pm which would normally exclude paying any PAYE. Is this coach still eligible to pay 25% PAYE? This is an independent coach, only on contract for 5 months.
I'm working at a season job that will end next week. I will have been working for 13 weeks and paid about R8000 in taxes. I'm being taxed each week. The rest of the year I don`t get any income that means I don`t have work. I would like to know if I can claim my tax back. I `m under the threshold and I do have a tax number. I don't have pension, policies or a medical aid in my name.
I earn less than R180 000 per annum. I only just entered the work force, and taxes still confuse me. I'm an independent contractor (but get set salary each month), and therefore I pay 25% tax. However, our accountant assured me I can reclaim all the tax I paid. Granted, last yr I earned only R74 000, paying 25% tax, and I know I can reclaim that. Basically, will I be able to reclaim the tax I am paying this year, and what is the maximum annual income for which you can still reclaim your tax?
I received (from a family friend in South Africa about R120 000 as a gift over a period of a year to help me pay back a loan. I had not been working for a few years so did not submit tax returns. Did I have to declare the amount to the receiver?
Hi, an accountant submitted my tax returns from 2009 to 2011, and when I found another job in 2012. I requested her to submit in 2012 and she refused. I submitted it by myself with help from SARS consultant. I received audit in 2013, and they requested additional information from 2009 to 2011, and when I asked my accountant, she became defensive and tell me she deleted my documents. SARS old me to pay back around 75000, and we agreed on compromised. I payed 35000, but now I want her to pay the 1...
I didn't submit a provisional tax return in Aug 2015 because I thought I would be below the threshold but I am actually above the threshold for the 2016 tax year. Should I now submit one at 29 feb 2016 and are these numbers based on actual income and expenses or an estimate for the 2016 tax year
TaxTim, I have a company registered for turnover tax. I Have the following questions please:
1 - What happens when you exceed the allowed R1m turnover in a tax year? 2 - Do you have to recalculate tax for the past year using the SBC Tax Tables? 3 - What about the VAT? I have not registered for or charged VAT, what will happen now that I've exceeded the R1m threshold. I thank you in advance for your support.
Hi. I used to work for company that deducted tax from my salary, so I'm a registered. But now I work for a company that does not deduct tax and I only get commission. My question is how do I claim my tax for my medical aid if I don't receive a IRP5?
How does it work now if you just earn commission but tax and uif does not get deducted?
I foreigners start to work in South Africa & earn South African source income, say, from February 2016. Will they receive their entire tax rebate for 2016 based on only the 1 month's salary? This would imply that they will obviously NOT pay ANY taxes on a salary of up to R73,650 for the month of Feb 2016. Is this correct or should the tax rebate of R13,257 be pro-rated to 1 of 12 months, because they only worked for 1 month of the 12 in the tax year?
i am 70 year old, live in UK, 95%, earning interest from investments in the UK and paying UK taxes with a UK tax no. i also have 3 properties in South Africa, and pay local tax in South Africa from rental income. also have SARS tax no. are there new laws which i am not aware of? I have been submitting tax returns on this basis for the last 20 years with no problem. will this be ok for the future. thanks.
After submitting my ITR12, I received an ITA34 in which 'a letter containing further instructions' is mentioned. "Please note, however, that the information provided by you in your income tax return does not match the information in the possession of SARS or your tax return has been selected for verification. Attached you will find a letter containing further instructions for you to resolve this. Please note that any refund which may be due will be withheld pending finalisation of this matter. According to the information you declared in your income tax return, you were liable to pay provisional tax for this year of assessment...