Second ITA34?

Posted 16 July 2014

Hi I submitted my tax to SARS and they asked for supporting documents, so me been me I only submitted half the documents, now I can?%u20AC%u2122t upload anymore, it is greyed out! In the meantime I realized that I made a mistake, so I requested correction and submitted ITR12 again. Now on my new ITA34 (top right corner) it says that I owe SARS money, but down the bottom it says that I am due a refund. Will they now disregard the first one and work on the second ITR12 or do I still have to submit...

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How much interest earned is tax free 2014-2014 tax year?

Posted 15 July 2014

How much interest earned is tax free 2014 -2105 tax year?

How much interest received is tax free if over 65?

Posted 15 July 2014

How much interest received is tax free if over 65?

Do I pay tax on my pension savings that were transferred to a preservation fund when I resigned?

Posted 14 July 2014

I resigned from my job late last year. Upon resignation, I transferred my pension fund savings into a preservation fund with the same company that held my pension fund. My tax return shows the entire amount of my pension fund as income under source code 3920 - Lump Sum Benefit. Why is this declared as income when I have not received the money? Does this mean I will be taxed on my preservation of my pension fund savings?

IRP5 issued after returns submission filed.

Posted 9 July 2014

My last employer has not submitted an IRP5 , and after calling today am getting the run around and same old story "were getting it " .. now.. its only for a 2 month period of work to a gross Value of R40k earned. The remainder of my return is ready and set to go. Can I file? Also, what would happen if the mystery
IRP5 should appear in a week or so???

Where to I add IT3b and 3c information on ITR12?

Posted 9 July 2014

My mother is 74 years and does not work nor contribute to an annuity. She receives interest at Investec, Finbond, Absa Moneymarket and Satrix. She received only IT3b and 3c's. No IRP5 or IT3a. Father passed away January 2014 and she only received pension since March 2014. Incurred medical expenses. Where do I ad the IT3b and 3c information on ITR12?

Don't pay income tax on rental income?

Posted 8 July 2014

I earn R408 000 p/year (from property rentals).
I don't pay income tax
Will SARS find out?

ITR12 option not available

Posted 7 July 2014

My SARS eFile does not have ITR12 option under my "Returns Issued"...it only has "Provisional Tax (IRP6)". What should I do?

Tax on interest when abroad

Posted 7 July 2014

Regarding the residency question - If you earn interest(South African source) with no other income, spend more than 183 days out of the country, will that interest be subject to tax. Lets assume the interest earned is R250 000 for the year. If this isn't tax free, would the opposite be true where by the interest is from a foreign source yet you are resident in SA but do spend more than 183 days out of the country.

Can I get an IRP5 for state pension?

Posted 3 July 2014

Can you please advise me regarding the following:

My Mother-in-law is a SASSA Old Age Grant recipient, she also earns a very small pension from her late husband's pension fund. Her medical expenses uses up almost half of her income. Can she obtain a IRP5 for her state pension as well as the other small income and then submit a ITR12 form through eFiling? If so, where can she obtain a IRP5 for her SASSA grant?

Earning a salary and having a sole prop on the side, how does the tax work?

Posted 3 July 2014

I am employed and earn a regular salary from my employer. BUT I also run a small business (just me as Sole Prop) on the side. (I help people with Web development and design work)How does tax work in my case? Do I need to put away a percentage of each transanction and pay it manually each year or how does it work? I don't want to get into any trouble with the tax man :-)

Forgot username and password on eFiling

Posted 2 July 2014

Could you please assist me. I have forgotten my username and password. Would like submit my IRP5 via eFiling.

Investement at a loss. How do I claim on my income tax return?

Posted 2 July 2014

How do I complete my tax return if I have property that I am renting out at a loss. (Investment at a loss).
What are all the costs that I can claim for .

Where to put IT3b amount on the income tax return?

Posted 1 July 2014

Where to put IT3b amount on the ITR12?

Am I liable for tax on the repayment of a loan account and how do I reflect this in my tax return?

Posted 1 July 2014

I invested (in the form of a loan account) in a start up private company as a shareholder at the end of 2004. I have been receiving monthly income from the company since mid 2013 as repayment of the original loan account plus annual interest. How do I account for these repayments in my tax return and am I liable for tax on these repayments of the loan account?

What documents do I need as a 1st time IRP5 submitter?

Posted 1 July 2014

What documents do I need as a 1st time IRP5 submitter?

What does the final conclusion of reduced assessment mean to me as a taxpayer?

Posted 30 June 2014

I received a reduced assessment and the conclusion was that a certain amount was refundable to me but it never paid out SARS paid me amount from previous assessment what does the reduced assessment mean?

Rent Income

Posted 28 June 2014

If your rent income and salary income amounts to less than the required amount for taxpayers to submit income tax does that mean I do not need to pay provisional tax or does any additional income count as 'taxable'?

What is the tax season deadline for filing with SARS?

Posted 26 June 2014

By when must personal tax be completed?

VAT Returns not submitted by 25th, I need to submit manually because efiling not activated by SARS?

Posted 26 June 2014

I've recently registered as a VAT Vendor. I now have to submit VAT returns so I registered for SARS eFiling last week and faxed through the form as well as my ID to SARS to file online. According to the website this should be activated within 24 - 48 hours. Its now 4 working days. When I called SARS they said I should submit my return manually. The problem is its passed the deadline for 25th. How do I avoid interest and penalties.

Donations tax w.r.t children

Posted 25 June 2014

Can a parent contribute money towards the purchase price of a child's new home without being liable for donations tax if the amount is more than R100,000?

Outstanding tax returns deceased 87 year old.

Posted 21 June 2014

My 87 year old father passed away in Feb 2014. The executor of the estate told me that they can't finalize estate because he hasn't submitted tax returns since 2010. All documents I have is his bank statements. He was a retired farmer and did not receive a pension. What should I do?

Do I pay tax on interest in RSA when living and working abroad?

Posted 6 June 2014

I am a South African but I have been living and working in Thailand for almost 4 years, and thus pay no tax in SA. I only visit SA for about 20 days a year.

I recently married an Australian and we want to open a fixed-deposit account in SA to make use of favourable interest rates.

If we both continue to live and work in Thailand, do we need to pay tax on the interest earned on that account? It will be about R100 000 per year.

Are investment funds still taxed at marginal rates for early retirees?

Posted 2 June 2014

If I retire before the age of 65, using only investment income from interest earned on funds saved in the bank, would I still pay tax at the existing marginal rates? Or, would I qualify for a lower tax rate?

Tax payment?

Posted 12 May 2014

What causes one to receive correspondence from SARS?
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