Working for a boss and using your salary to fund your own private company

  Written by Marc   Posted 23 July 2014

I am permanently employed at a company and receive a monthly salary, which I would like to use to fund my own business which is a registered pty ltd.

At present all my business expenses are coming off my personal account, but I would like to pay them from my business account, which means having to transfer of my salary into my business account.

What are the tax implications and what would you advise I do?

Must you in person hand in your IT77 form and supporting documents?

  Written by Marc   Posted 23 July 2014

When a person has been sequestrated and have to apply for a new tax number for his/her new estate, and completed a IT77 form and have all the the documents required attached, must he/she take it to SARS themselves or can a other person hand it in for them? I have phoned the call centre at SARS and they said the person have to bring it themselves and have to sit and wait for a consultant at SARS to capture it and issue immediately the new tax number. An they have to bring their original ID as wel...

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Whats the take home after deductions on a 50k monthly salary?

  Written by Marc   Posted 23 July 2014

What is the nett take home salary on a 50k per month CTC package?

WHAT ARE THE RETURNS ON COMMISSION EARNERS ONLY, NO BASIC. COMMISSION MONTLY: R45000

  Written by Marc   Posted 23 July 2014

how does commission taxes or whats are the returns. I earn commission only everymonth, no basic. Commission earned monthly is R45000.00. How much can I expect as a refund?

waiting period for audit dept

  Written by Marc   Posted 23 July 2014

Still waiting for audit department! Since I submitted all relevant documents I still don't have an answer how do I find out?

How long will I wait for my tax return

  Written by Marc   Posted 23 July 2014

How long will it take for my tax return to get into my bank account?

Disability form from SARS?

  Written by Marc   Posted 23 July 2014

I just wanted to confirm whether I downloaded the correct form as you informed me. You informed me to download the "DDR FORM".
i needed the disability form for my daughter that diagnosed with Epilepcy. I the form called " CONFIRMATION OF DIAGNOSES OF DISABILITY EXTERNAL FORM-SARS" (ITR-DD)

Please confirm if I downloaded the correct form?

Outstanding IRP5, can I still claim?

  Written by Marc   Posted 22 July 2014

If one has not submitted IRP5 before, can one still claim outstanding amount?

Can I get tax return?

  Written by Marc   Posted 22 July 2014

can I get a tax return

Does community of property includes sole proprietor?

  Written by Marc   Posted 22 July 2014

Does a sole proprietorship form part of joint estate?

Should an accountant ask for an over ride pin from a client?

  Written by Marc   Posted 22 July 2014

Should an accountant ask for an over ride pin for SARS from a client?

eFiling: Relocated overseas, no South African bank account and not returning to South Africa

  Written by Marc   Posted 22 July 2014

I moved to Australia from South Africa in June 2014. I closed my bank accounts as I won't be returning to South Africa. I was studying full time during the 2014 financial year so my tax return is NIL.

My question is how do I fill in the bank account declaration section (on eFiling) since I no longer have a South African bank account? Do I update my details to "I don't have a local bank account" or do I keep my previous banking details on the form as I closed my bank account after the 2014 year end?...

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Claiming a tax benefit for private car use without a car allowance

  Written by Marc   Posted 22 July 2014

i use my private car daily for business - driving to and from client meetings. I do not receive a formal travel allowance or claim for petrol. Is there a way for me to claim depreciation or a tax benefit when I submit my tax return? if so where on the return do I do this

Can changes be made after calculating your return on eFiling?

  Written by Marc   Posted 22 July 2014

When calculating your tax return on eFiling and only saving it, can it be changed if there was a mistake (THIS IS NOW WITHOUT SUBMITTING, JUST CALCULATING)?

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?

tax rebate on foreign country insurance premium payment

  Written by Marc   Posted 22 July 2014

While residing in New Zealand, my wife and I (both South Africans), took out a life insurance policy each with AIA New Zealand. We have returned to SA and pay the policy premiums annually Paid through my bank, Nedbank, Foreign Exchange. This years premiums totalled r22 000. Premiums increase annually due to the exchange rate. I would like to know whether I can claim a rebate from ZARS when I submit my tax return to ZARS.?

I want to view my completed ITR12?

  Written by Marc   Posted 22 July 2014

I just submitted my tax returns at the SARS Office, Durban. How do I view the completed tax forms

How long does SARS take to process change of bank details and to refund the money?

  Written by Marc   Posted 22 July 2014

I was told that I have a refund from SARS but I was suppose to go and verify my bank details, so I went and changed my bank details because the previous account was inactive. I did that on Saturday, and if I check the status on eFiling it says bank details status processing. How long does the processing take and when can I get my refund because I was told that it only takes 48 hours?

When does tax season close?

  Written by Marc   Posted 22 July 2014

When is the closing date of return of ITR12 forms for 2014

May I submit my tax returns online please?

  Written by Marc   Posted 21 July 2014

Am I allowed to use eFiling on line for my tax returns?

SARS source codes?

  Written by Marc   Posted 21 July 2014

What are SARS source codes?

What is the marginal tax amount?

  Written by Marc   Posted 21 July 2014

WHAT IS PRE MARGINAL TAX AMOUNT AND POST MARGINAL TAX AMOUNT

Submission of two IRP5's?

  Written by Marc   Posted 21 July 2014

I work for the department of education and get my salary from them but my school gives me a small bonus at the end of the year. I've already received my IRP5 from the school for the small bonus but not from the department. Could I submit a return for the bonus and then when I receive my IRP5 from the department submit again or should I wait and submit both at the same time?

I need advice on declaring tax deducted on dividends for shares I hold?

  Written by Marc   Posted 21 July 2014

How and where is Tax on dividends declared on eFiling?

How do I submit for a small business on my ITR12?

  Written by Marc   Posted 21 July 2014

I'm trying file for a small business and not sure where to do it?
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