Tax enquiry regarding deductions and insurance payouts?

  Written by Marc   Posted 6 June 2014

A client has broken his fingers and cannot perform his work commitments as a personal trainer and actor. He is trading as a sole proprietor. First question is, will he be taxed on his payout for impaired benefits from his insurance company? Secondly, what supporting documents need to be submitted to the insurance company for this payout? Thirdly, what expenses can be deducted from a client who is either a model/actor that is paid via an agent?

How do I calculate a company IRP6 return with a loss?

  Written by Marc   Posted 26 May 2014

How to calculate a company provisional IRP6 return?

What do you mean by include employment income? Would that be your salary?

  Written by Marc   Posted 9 May 2014

On the IRP6 form for (Turnover) what do you mean by include employment income? Would that be your salary?

Retired 6yrs ago at 58, receive rental income of R90,000pa. Do I submit return? Am I in arrears?

  Written by Marc   Posted 4 May 2014

I am now 61 years old and retired Feb 2008. Up until then all taxes were up to date. Since then I moved and receive R90,000 pa rental income from my fixed property. I wish to establish if I am liable for any taxes on this rental income and if I must re register as a provisional tax payer in the light that I have never received any notices from SARS since retirement.

I am retrenched, how I can save money from my retrenchment package - provident fun?

  Written by Marc   Posted 2 May 2014

I am retrenched, how much of my severance package and provident fund will be taxed? I want to learn the basics of income tax as a freelance writer, what will be expected of me to be legal taxwise. What is an income tax return, when working part-time as a freelance writer in South Africa?

How do independent consultant pay tax?

  Written by Marc   Posted 1 May 2014

I work as an independent consultant for two organisation. I basically invoice these organisation monthly for work done. The contracts are structured in such a way that I should be paying tax myself. However, I only started this year, but am not sure whether to register as a provisional taxpayer or not. How do I go about honouring my tax obligation?

How do you register a company that won't be using VAT but would like the perks?

  Written by Marc   Posted 28 April 2014

I have started a new company and want to know the following:

My company won't be doing invoices or quotes nor will it be buying anything on credit. So no VAT will ever be charged from my side. In the future I see the company recruiting employees but for now it is just me. Do I need to register my company right now (if its just me) as I would like the perks of having the office space I am using to be taxable. I am using 2 parts of my house for work purposes (one for offices and the other for storage). ...

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How does my tax work if I am the sole proprietor and sales person of my estate agency?

  Written by Marc   Posted 28 April 2014

I am a principal of my own estate agency. I work alone. How does my tax work? As a sole proprietor I am not certain, as I do all the selling myself?

What type of taxpayer am I classified as?

  Written by Marc   Posted 13 April 2014

Hopefully you can please help me out, I registered for Tax a year ago, by default I was registered as a non-provisional tax payer and I am currently unsure of how I should classify myself for tax purposes. I'm also not working as a company or cc but as an individual.

I have 3 different forms of income:
1) 35 Hours a week I work for a company on their premises (almost as a full time employee) and invoice them every month. 70% of income. The do not withhold PAYE as of yet.
2) 5 Hours a week for another company, Invoiced for as well. 15% of income and they withhold 25% PAYE....

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Do I need to register for provisional tax and VAT as a sole proprietor selling used vehicles?

  Written by Marc   Posted 8 April 2014

I am the sole proprietor of my business. I buy up used motorcycles and scooters, which are mostly vintage and then sell them on to collectors. Some of my sales are to overseas buyers requiring me to export these vehicles.
This is my only income.
Am I required to register for provisional tax?
Am I required to register for VAT?

Can I claim UIF for months unemployed before registering as a provisional taxpayer?

  Written by Marc   Posted 25 March 2014

I have just started my own business - well, technically I just freelance. Does this make me a provisional taxpayer.

In addition, I want to claim UIF for the months I was unemployed and not working (Dec, Jan, Feb). Can I still do this even as a provisional tax payer?

Can I pay tax in advance (est) without complicated forms.Then do forms annually and pay difference

  Written by Marc   Posted 24 March 2014

I always need to pay money to tax at the end of the year. I know it is about R 12,000. Or R1000 pm. Why can I not pay in say R1000 pm Estimate without filling in complicated forms, then fill in complicated forms once a year. I.e. pay in what I think monthly. i.e. accumulate tax credits via payments ahead of the final annual analysis.. i.e. just pay initially when I can afford, and pay in the difference after completing complicated forms at financial year end.

Residents based tax - how does it work in SA?

  Written by Marc   Posted 22 March 2014

Hi Tim. I am currently a South Africa provisional taxpayer but will be leaving SA to work for a US based company for the next 5 years . I will be leaving on the 30 June 2014 but will receive a pension payment commencing 1 July 2014 from my current employer for the next 5 years payable in South Africa . I will also receive a bonus in December 2014.

I will be out of the country for more than the 183 days as well as the 60 day consecutive period . My question is as follows :

1. Is the monthly pension taxable...

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What sort of tax should I register for as an independent IT contractor?

  Written by Marc   Posted 14 March 2014

I'm an independent IT contractor working from home. I work for different clients at the same time. Some pay a fixed fee.

What sort of tax should I register for taking into consideration that I use my house, electricity, internet, etc?

Can I declare extra income at the end of the year, or must I register for provisional tax now?

  Written by Marc   Posted 10 March 2014

If I did some freelance work in 2013 / 2014 tax year, will I pay a penalty if I only declare my extra income when I do my regular return?

What are the legal consequences for sole proprietor not registered as taxpayer?

  Written by Marc   Posted 8 March 2014

Legal consequence for sole proprietor not registered as taxpayer

CHANGE TO PROVISIONAL TAX PAYER on eFiling?

  Written by Marc   Posted 7 March 2014

I have been a salaried employee bu have now started out on my own. Can I just change to being a Provisional Tax payer on eFiling?

I freelance now and again but have a very low monthly income. Do I need to declare & register?

  Written by Marc   Posted 7 March 2014

I love your business model, very innovative.

I have a full time job and started offering to do freelance web designing for people. I have been told some conflicting information about tax, from being taxed 40% on additional income to additional income not being necessary to declare if its non-recurring.

I have a full time job and don't charge much for creating websites and there is the recurring income of web hosting that I charge clients monthly. I probably create a site once a month for about R2000 and hosting comes to a total of R400 a month (for all the sites I host). So additional monthly income is max around R2400 and that is not every month....

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Started at new company this year (Online company based in Norway) what tax do I pay?

  Written by Marc   Posted 27 February 2014

Up until December 2013 I worked at Incredible Connection. I earned a basic and commission. They always used the PAY-E (Pay as you earn) to pay my tax.

At my new Company, an online company based in Norway, I get paid a salary and commission together in 1 payment. I submit my commission table at the end of the month and I am paid around the 5th-7th of the following month.
My question is:
1) do I need to use an IRP6 now (Provisional) if my only income is via my salary and commission (although it is from a foreign country)? (I earn less than the 250000 per month) average which I think means I don't need an IRP6...

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SARS audit

  Written by Marc   Posted 24 February 2014

If I have done my provisional tax on eFiling, how many days does SARS take to do an audit? Or ask supporting docs?
Thank you

Business returns and provisional tax

  Written by Marc   Posted 24 February 2014

Must I make payment immediately on e-filing where it says "make payment" or must I wait for SARS to email me for confirmation amount due?

Can I use the basic amount for this month's IRP6 return ???

  Written by Marc   Posted 24 February 2014

Is it essential to estimate a taxable income on the SARS eFiling IRP6 form, or can I use the basic amount as stated on their form.

This was the taxable income for the 2013 tax year.

By who provisional tax is paid?

  Written by Marc   Posted 23 February 2014

Who pay privisional tax

Provisional Tax and charging Tax?

  Written by Marc   Posted 21 February 2014

If I were to open a small company (sole proprietership) doing plumbing work, would this make me a provisional tax payer even if its my only source of income? Also, on my invoices I would send out to clients for jobs done.. would I charge tax on these invoices?

SARS wants me to submit supporting documents, but the document list is empty

  Written by Marc   Posted 20 February 2014

I think SARS owes me a refund because my ITA34 reflected a negative number and said "refund due to you". Anyway they are now giving me grief, disputing my refund and demanding I respond in 21 days by sending me a "Final Request to Revise Income Tax Return or Submit Relevant Material". However in this document they say: "In the event that you couldn't find an error, you also had the option of submitting to SARS copies of the following material in support of the declarations made in your income tax return:" This is followed by an empty document list. ...

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