SARS delayed claim on penalties?

  Written by Marc   Posted 5 August 2014

Yesterday 04 August 2014, SARS informed me, for the First Time, that there is a reoccurring penalty against me from 2007 - 2008. I resigned from my job as we were moving, so I only worked 2 months for that tax year earning only R9000.00 in total for the year.
I started to work again in 2011 and did my TAX returns, at that point SARS told me there where no outstanding penalties.
I have no proof of anything as legally I must keep papers for 5 years, thereafter I dispose of them.

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Can I file late returns?

  Written by Marc   Posted 4 August 2014

Can I apply for tax returns as far back as 1997 South Africa and how do I do so

Owning a second property with no real rental income and the implications on tax

  Written by Marc   Posted 4 August 2014

I own a second property which is an apartment in a small block of flats. My in-laws are the tenants so I don't charge rent. However, they do pay the monthly levies for the apartment.
Since I don't charge rent, would the monthly levies that they pay be seen as an income to me from the apartment? (As the owner of the property, I would normally have to pay this). Expenses that I incur on the property are rates & taxes, bond interest and insurance. These expenses exceed the monthly levies....

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What documents are needed for submission of my ITR12 Tax Return?

  Written by Marc   Posted 3 August 2014

What is IT3b? And what other documents are needed from me so that I can submit my returns?

When do you submit a return on a fiver year fixed deposit, interest paid at maturity?

  Written by Marc   Posted 29 July 2014

when do you submit a return on a fiver year fixed deposit, interest paid at maturity?

Will you be fined if you've never paid tax but start paying.

  Written by Marc   Posted 28 July 2014

If somebody has a small business and has not previously paid tax, if they now register for tax will they be fined or charged previous years?

What is income tax IT3(b)

  Written by Marc   Posted 28 July 2014

What is income tax IT3(b)

Working for 4 years, never registered, whats required and will there be penalties?

  Written by Marc   Posted 26 July 2014

I have been working since 2011, and have never registered as a taxpayer. What will I need to register and will there be penalties incurred?

Refund/no refund or less refund for previous years returns.

  Written by Marc   Posted 25 July 2014

Hi TimThank you very much for the awesome job you are doing.I would like to know;what happens when someone hasn't submitted to SARS for about 5-7yrs? *Incorrect submission or not submitting at all*.Does the person get the refunds of other years when he/she eventually submits or get penalties that leads to no refund at all or less refund? Regards,LMM

CGT Calculation for non resident?

  Written by Marc   Posted 25 July 2014

CGT
I inherited shares in a 3 private companies at a total value of R650,000.00 in 2003.
I intend selling all the shares at a total price of R2,500,000.00.
I would thus make a capital profit of R1,850,000.00
I am a non resident of South Africa and a citizen of and tax resident of Australia.
I pay taxes in South Africa on dividend and interest at a tax rate of 18%.
What would my CGT liability be.

Nedbank IT3(b) on my ITR12?

  Written by Marc   Posted 23 July 2014

Hi, Nedbank has posted me my IT3(b) Form and I see it has changed from last year, they now have an amount under 'Net Amount Accrued' which is added to the 'Net Amount Paid' to give total 'Interest' earned. My question is : What amount do I have to declare to SARS, is it the Net Amount Paid (which is what Nedbank has actually paid to me in the tax year ending 28/02/2014 or do I have to declare the total Interest which includes the 'Net Amount Accrued' that Nedbank has not paid tome yet.

Travel allowance

  Written by Marc   Posted 22 July 2014

I have a travel allowance and I am submitting prior years (2012, 2013) and I am under the Threshold R250000. If I do not claim the travel allowance will they forgive the penalty for non submission?

Verification documents for submission

  Written by Marc   Posted 18 July 2014

Dear Tim,I hope you can help I am really at wits' end right now with SARS. This is the situation. I subimitted my tax return via the efiling website on the 01/07/14. A refund was due to me due to private medical aid and dental procedures I paid cash which was rejected by the medical aid. On the 3rd according to my statment of account a refund was paid but then reversed the same happended for the 4th when I contacted the call centre they advised me that they had a system problem and that I...

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Second ITA34?

  Written by Marc   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?

  Written by Marc   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?

  Written by Marc   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?

  Written by Marc   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.

  Written by Marc   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?

  Written by Marc   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?

  Written by Marc   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

  Written by Marc   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

  Written by Marc   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?

  Written by Marc   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?

  Written by Marc   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

  Written by Marc   Posted 2 July 2014

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