I was full time employee for the first six months, and then changed to self-employed contractor issuing an invoice to a seperate but related entity. What are the deductions I can claim against income invoiced?
I freelanced for a while so I paid provisional tax from last year August 14 to Jan 15 and then again Feb 15 to Aug 15 (overpaid a few invoices accidentally). I got a full time permanent job since 13th April. When can I apply to get a refund from the provisional tax and some overpaid invoices please? And how do I go about this? Thanks!!
I've been overpaid erroneously for a year . My employer wants the monies paid back in full. Roughly a third of the amount was taxed and appears on the IRP5. Must the IRP5 be amended by the employer, while we sort out the pay back arrangements?
I am currently busy with my company's VAT return for March and April, but our invoicing is a lot more than our purchasing. It looks like we will have to pay about R180k, My question is : Can I hold back on some of our invoicing when submitting my return? Since we have 5 years to claim it?
When you have a business (that is registered for VAT) who collects debt on behalf of his clients, thus he takes the debt over from his client. There is an interest charge on the amounts outstanding after a due period. Does that interest amount give rise to VAT? VAT is charged on the collection from the client as well as a commission charge. S2(1)(f) of the VAT act exempts interest charges as part of financial services. But the client is not a registered financial service provider. I cant find th...
I need to get a tax directive. I have taken all relevant docs to SARS, but now they need me to resubmit my 2015 return. I don't know how because if I say request correction it says the return has already been audited.
I am non resident south African citizen working off shore for the past couple of years, I own various properties in south Africa, two of which generates rental income, however I still owe bonds on it, and currently renovating one of these properties, can I claim back the taxes paid on the renovations as well as the architects fees
I have been submitting a tax return every year for a few years now. I plan to go overseas and work/travel. How would I complete future tax returns? I want to avoid penalties for non-submission, but am unsure how to complete the return if I am not earning income in South Africa.
Hi Tim. Great Blog!
My question is quite simple. I've started working for a company earning commission only. We have not yet registered any of my details and I've earned around R 18 000 in commission this month. I would like to know what percentage should they have deducted from my earnings? Is it 18% throughout? I would also like to register under code 3606 as I have various expenses that I need to incur in order to conclude a sale and would like to deduct some of these expenses. Do I claim it ...
I have a Invoice with Invoice NO:XXXX and the supplier charged VAT at 14% which is displayed according to SARS rules. My problem is that the words "Tax Invoice " are displayed vividly underneath the description of the goods purchased as "This is a Tax Invoice", do I claim VAT on this type of a transaction? The supplier is a VAT registered entity.
My salary is as follows basic of 16500, travel allowance of 4500, cell all R500, medical aid R500 & RAF R500. I did not work 2 days this month and this was deducted as unpaid leave of R1517. 24. Please advise if you are supposed to pay PAYE on unpaid leave. Thanks
Hello , I am 37 years old and my annual salary is R160000 and travel allowance R40000 I a traveling roughly equal for business and private distance and contributing R14000 pension fund (out of my salary earnings) what is my tax deduction from my monthly salary?
I am a sole practicioner (legal consulting), i. e. my own business, own expenses (work office and home office). I don't have an IRP5 or IT3a therefore. But I keep having the following queries from TaxTim after I've filled in all the questions:
"You can't depreciate personal items if your IRP5/IT3a Income section isn't filled in. Fix it"
"You can't claim home office expenses if your IRP5/IT3a Income section isn't filled in. Fix it"
"You can't deduct other expenses related to income if your IRP5 ...
Do you have to pay UIF on commission income if it is secondary income? An employee earns both a normal salary and a commission. Does he pay UIF on the salary only or the whole amount? Also how does he view his remuneration for PAYE, is it the whole amount together or both separate?