When calculating the wear and tear on my car I take the original cash purchase price and divide that by 5. Do I then enter that value in my tax return (same as all other deductions) and SARS then automatically calculate the "official" part thereof from the kilometers I entered, or do I do the calculation myself and then enter the "official" part in the tax return?
In what instances could you claim maintenance expenses, toll fees and tires against a travel allowance? A proper logbook has been kept of all business km, therefore currently doing the calc based on fixed cost per km and multiplying this with the total business km.
Good day. I filled my tax via SARS e filing for 201 and it triggered an audit. I got a refund after providing the docs, then after a few days I decided to call the SARS call centre. The guy on the other side told me that I need to file for 2009 and 2011 and that I made a mistake and I filed for provisional tax. They fined me for R2900 interest, now I owe them according to the efilling at the SARS branch. They were not very helpful either, the lady told me I must jus...
Hi, I'm an independent contractor and my income is indicated under code 3616. I don't get any allowance, and my company pays income tax every month. What I want to know is can I claim, under the allowable expenses, for things such as vehicle depreciation/KMs traveled/vehicle service costs etc?
Almost all my work related travels are from home to the client site and back, which I have kept a log book for.
I live in one city and my normal office is in the city. I am currently involved in a project in another city which takes me away there for extended periods. I have a flat in the other city which I stay in while I am working there. What constitutes business mileage? I would think travel from home to the distant site would be business mileage. However probably not the daily commute in from my flat. Is this correct, or would the total distance away from my home be business mileage?
I'm being audited by SARS, they have asked me for bank statements and payslips. I do currently have a permanent job, but have a part time or side line job as well. The amounts I get paid to do the work is not a constant amount every month and some months has no income at all. These payments are either in cash or via eft which will be on my bank statements of course.
What would the impact on myself be from SARS? I complete my tax every year, but this is the first time I get asked to p...
Hi Tim. I am a full time teacher. I am thinking of leaving my job and working as a full time tutor from home. I will see students on a one on one basis and charge them and hourly rate OR I will travel to other students and charge them an hourly rate.
Can I claim against expenses that I incur whilst tutoring eg: at home - electricity, Internet, cellphone usage to contact students, travel costs when going to students, laptop purchase for work etc. Thank you.
I am a director of a company and my company has offered to pay for my studies. I am studying BCom Financial Management. They are however trying to deduct it as a business expense. Is it possible and what tax law do they look at?
I get reimbursed for travel allowance and it is put under code 3702. I have 2 questions:
1: On the first page of the tax return should I tick "Yes" for claiming against a travel allowance? 2: My log book and the amount under 3702 don't match since the travel for the second half of Feb 2015 is actually only paid to me in March 2015.
Last year I was retrenched, took the package, and was told that the severance piece was tax free, as it was way below the R500k, just under R40k, got a directive.
Now looking to do my tax return, the amount shows under income (source code: 3901) adding it to my income, however as I was not taxed on it when it was paid, it appears to SARS that I didn't pay the tax then. So now it looks like SARS is asking me for the tax on that amount, as my prelim calculations is saying I must pay in close on R4000?...
I completed my SARS tax return. My IT34 said I was being paid an amount back. I then realised I had made a R40 error on my tax return for my laptop depreciation. So I amended on my tax return and re-submitted. My calculation then said I was receiving about R4 less than before. Once submitted I received an IT34 stating I had to pay SARS R4. Which is the correct IT34 now? I can't possibly lose all the money I was getting back for changing an amount by R40? I was also requested to submit the laptop...
Hi. My SARS status has been "Please note that your return cannot be processed as SARS is currently reviewing your assessment. The return will be reviewed as part of this process. SARS will advise you on the outcome in due course." for a week now and no changes to date.
When will this change or when will SARS at least change the status or look at my return?
I received a laptop allowance on a monthly basis. Laptop belongs to me. This appears on my IRP5 under source code 3713. I received this over 3 years. Can I claim a wear and tear allowance against this income?
I'm confused if I should claim over 3 years or just a single year as I've read different responses online. Also what supporting docs would SARS require? Would the tax invoice of my laptop be sufficient? Thanks
I bought a 2002 model car which is still in good condition, in June of last year for a financed amount of R109,990. 00 This vehicle is used on a 50% work and 50% private basis. I do not receive a car allowance and this vehicle is paid out of my own pocket. Is it possible to claim depreciation/wear and tear on this vehicle from SARS?
I need to please find out - I am on my fiancé's medical aid (he is the main member), should there be any excess to be paid on medication etc. We do not physically pay the cash but it is taken from his salary at the end of the month. The medical aid did send us a detailed certificate on each beneficiary - my question is now - Is he as the main member responsible to claim for all the beneficiaries as the excess was deducted from his salary??
We have a temp employee that we would ordinarily deduct 25% tax. She has now come with a tax directive from SARS in the name of another employer that she also works for on a commission basis & ask us to apply the tax directive of 20%. Question: 1. Can my company apply this directive even if it is in the name of another company 2. Can my company apply this directive even if it is a photocopy & not the original
Good Day. I submitted my tax return on e-filing. I got an It34 stating an amount to be paid back to me. I then realised that their was a R4 difference on my laptop depreciation. I corrected it and resubmitted my Tax return (as they requested laptop invoice and figures need to match) I did the calculation and it showed about R4 less that I would be receiving back. But I then received another IT34 stating that I owed SARS R4. Which IT34 is correct? I changed an amount by R4 I can't possibly lo...