When doing deductions from rental income, for tax purposes, please advise which of these are deductible: 1) Monthly service fee charged on the bond; 2) Special levies raised for: Water meters (each unit is to have its own water meter, as per municipality); carports (I doubt it, as this is of a capital nature, but please confirm); garden tools.
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. ...
I'm claiming tax on my travel allowance and submitted my logbook based on the SARS logbook. Earlier today I was notified that my travel claim is disallowed. When I called them they said I should add my personal travel and mileage for everyday of that tax year. Is this normal? I thought SARS was only interested in business travel.
I left South Africa in 2006 to work overseas and visited the SARS prior to leaving the country. I was told I do not need to do anything further regarding tax. I returned for a holiday in 2008 and also bought a property in 2008. I was also told that any earnings I transfer to my South African bank account will only be taxed if I earn interest of 100 000 rand per year. I want to know if I own property am a tax resident? do I need to pay tax? the property I purchased is not rented.
Occasionally I rent out the spare bedroom in my primary residence. I'm not running a guesthouse - it's just a way of making a tiny bit of extra income and meeting some interesting people. I don't often have people staying - maybe for a total of 30 days out of the year. Do I need to declare this as "rental income"? If so, 1. What expenses can I claim against this income? 2. Where do I put it on my return? I'm already using the section "Local business, trade and professional income" for ...
I am living in South Africa ( dual nationality UK/SA) but not working. My only source of income is UK interest on savings and rental income from our house in UK. I pay tax in UK but from what I've read it appears I should be tax registered here. Is this the case?
If it is, how do I prove my income as the UK tax year runs from 6 April to 5 April . Would a copy of my UK tax return be sufficient proof of income? Would I need to worry about the date overlap ?
I have been running a small business and am a provisional taxpayer. I became employed in March 2013 and earn a salary, but still earn income from my sole proprietorship business.
I was advised when I submitted my first IRP6 in August 2013 to keep the salary separate from my other income as it would be reflected in my ITR12 this year with the relevant IRP5. After a bit more homework on my part I realised that I should I have added my total salary to my estimate in my first IRP6 submis...
I have a stock market share portfolio. I have received a summary of capital gain for the 2013 tax year. Do I declare this gain even though the gain is still in my portfolio & not in my pocket? The amount is not shown on the IT3b as is the interest & dividends.
I own a website that I started as a Hobby (showcasing information about various sports teams and tournaments). The novelty has since worn off and I now want to sell the website. I have never earned or attempted to earn revenue from the website. Would I have to pay tax on the sale price? If so, what type of tax would I have to pay? (I am currently below the age of 65 and unemployed).
The website was given to me as a gift quite a number of years ago. I have since purchased domain names ...
I worked on contract from 2.272012 to 28.2.2013 and my taxable income was R121215.00. I only received my IRP5 from the contract company this week! Am I too late ...... do I need to still do my tax or should I do it all next year? Please help?
I submitted my tax return and was informed by SARS that I should be a provisional tax payer. Because I didn't register, SARS wants to fine me over R400,000. What is the possibility of having that fine rescinded - I had not been informed by my previous tax consultant of my obligation to register as a provisional tax payer, and now I am being fined for it?
I am an 84 year old widow. My late husbands investment and pension fund gives a income of R 67500.00 per year. Income from my investments give an income of R22 000.00 per year. I was de-registered about 10 years ago because I had no personal income. Will I have to register for 2013/2014 tax year.
This past tax year I paid full independent medical aid contributions for my family. In the year I was unemployed, earned income for some consulting, and then was employed for a few months. Does the medical aid monthly payment come off my business expenses the months I earned my own income? or do I just make use of the tax credits system? Older posts →← Newer posts13141516171819202122232425262728293031