Are bond initiation fees, legal fees and valuation fees deductible for tax?

  Written by Nicci   Posted 23 March 2016

Hi, I have registered as a provisional tax payer and did my tax return in August. My rental expenses (levies, interest and taxes) are greater than my rental income I earn. Do I still need to file the provisional tax payer tax return now and see if any payments are due?

I have paid for your services for my personal income tax, but haven't received any of my tax information yet (for investments, medical aid etc). Must I just wait until those all come later in the year and send them thro...

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Is my business liable for PAYE as soon as I register?

  Written by Marc   Posted 23 March 2016

I registered my SME for PAYE in December 2015. When do I become eligible to start paying PAYE? I'm the only employee and my salary is tax deductible?

What is the tax of total earnings R52499.07?

  Written by Alicia   Posted 23 March 2016

My contract was terminated and I was paid the notice pay, leave pay,leave enhancement,attendance bonus. Total earnings R52499. 07 my tax is R16339. 14. Is my tax correct. Pls help!

Question on secondary tax rebate

  Written by Nicci   Posted 23 March 2016

If you turn 65 before end of February 2017 are you considered to be 65 or 64 for the current tax year.

Independent consultant and expense claims

  Written by Nicci   Posted 22 March 2016

I am an independent contractor and would like to find out how to calculate my salary due to me taking expense claims into account. Total salary = hours worked x Hourly rate
Expense claims = cell phone, internet and travel claims

To calculate tax amount you take your total salary less expense claims. Then when calculating amount payable, do you

A: (Total salary amount less expense claims) less taxable amount plus expense claims = amount due to you

OR
...

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Do I pay tax in SA as a non-resident working in SA for a US university?

  Written by Nicci   Posted 22 March 2016

I am a US citizen living here in South Africa for about two years because of my spouse's work. The university I work for has graciously allowed me to continue working remotely for them while I am here. I work with computers on the internet. Recently, someone from my work has insisted that I needed to file for income tax in South Africa. I disagree, believing that my income source is not South African and that I am a non-resident for tax purposes. Is there some specific evidence I can use to back...

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Penalties deducted from pay out?

  Written by Nicci   Posted 22 March 2016

I looked on the SARS eFiling and it stated that I should pay them a big amount of money (I assumed it was for late tax returns). A week later they paid out a small amount, after a consultant said we do not owe anything on their system. Am I correct in assuming that they deducted the penalties from the tax returns and paid out what was left? Or should I still be worried about that letter?

Can residual bond interest from one property be offset against rental income from another property?

  Written by Nicci   Posted 22 March 2016

I have two properties and I pay bond interest on both.

With regards to deducting bond interest from rental income, can residual bond interest from property A be deducted from rental income from another property for tax purposes?

MEDICAL TAX REBATE REFUND

  Written by Marc   Posted 22 March 2016

IF YOUR PAYE CONTRIBUTIONS EXCEED THE TAX PAYABLE WHICH MEANS YOU ARE DUE A REFUND DOES THE ANNUAL TAX CREDIT R257 PER MONTH TIMES 2(taxpayer and spouse) times 12 ( R6168) INCREASE YOUR REFUND FROM SARS?

How to calculate the IRP6 and ITR14?

  Written by Nicci   Posted 22 March 2016

My company was registered with CIPC last year in March 2015 and when I went to SARS to submit my ITR14 they say I must register online but before I submit the ITR14 I must firstly submit the IRP6. I would like to know firstly as to how do I calculate my IRP6 and when do I start to calculate since as I said my company was registered last year?

My PAYE deduction is way to high - how do I claim?

  Written by Nicci   Posted 22 March 2016

I have calculated my yearly taxable earnings for the 2015-2016 tax year, and the PAYE deducted each month was significantly higher than needed as I was unemployed for the majority of the year, bar a few months. How do I go about getting this money back? Is the company liable to pay it back to me or must I claim it from SARS (the last month I worked was November 2015, and I started in August 2015).

Should there be a PAYE deduction from my sole proprietor invoice?

  Written by Nicci   Posted 21 March 2016

I operate a sole proprietor providing services to various companies on an "in need" basis on short and medium tem basis. I operate at my client place of business however the latest client has started deducting PAYE from my invoice at a rate of 33. 3% although I am not on a fixed contract and will not derive more than 80% of my annual income from them. Are they entitled to do this and how do I reconcile these deductions as a provisional tax payer?

Is it the building size or stand size used for home office calculation?

  Written by Nicci   Posted 21 March 2016

I have a home office and I want to know in terms of the calculation for the percentage of the home being for the office is it the entire stand size of the property or just the building size?

Is the tax refund date on statement accurate?

  Written by Nicci   Posted 18 March 2016

My tax statement has a date of refund as 19. 03. 2016 is that the date I will receive the refund into my account

PAYE or Provisional Tax

  Written by Marc   Posted 18 March 2016

I own a small business - registered with CIPC as a private company. I am the sole director of this company and currently get paid a salary by the company. Should I be registered for PAYE, UIF and WCA for the income in the form of the salary or are provisional tax payments sufficient.

Offshore 60 day trip

  Written by Marc   Posted 18 March 2016

I am South African and I work offshore. I know I have to work 183 days offshore in total, with 60 of these being continuous. Would a 60 day trip that falls over February and March 2016 be applicable for the 2016 tax year, or do I have to do another 60 day trip to be tax exempt?

What is the tax on my incentive bonus?

  Written by Nicci   Posted 17 March 2016

I am going to get R2,400 of incentive bonus and I want to know how much tax is going to be deducted from it.

I have received an ITA88 - what can I do?

  Written by Nicci   Posted 17 March 2016

Hi, I earn under R125,000 a year. I have not filed my tax returns for the past 4 years - recently a huge amount was deducted from my salary (SARS ITA 88) what do I do? Can I get that money back?

Tax rebate for medical aid when not the main member

  Written by Marc   Posted 17 March 2016

I currently am paying medical aid for myself, wife and child however I am not the main member, it is my wife, I currently deposit funds into her account for the deductions. She is currently unemployed and does not claim for tax. This was the only way to come off the company medical aid as they were too expensive

I wanted to know if I can claim this as I am paying for the medical aid just that its not on my name, I am the dependent and she is the main member. Further more we are marri...

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Tax relief for Medical Aid

  Written by Marc   Posted 17 March 2016

I only realised this month (March) that I was due a tax (PAYE) relief due to a Medical Aid Fund, which was initiated in July last year. Would it be possible to claim the relief even though the PAYE period is closed?

Business mileage for off site visits

  Written by Marc   Posted 17 March 2016

Can I claim business mileage from home to another site (belonging to the company) which is not my normal place of work?

Medical rebate calculation not done unless claims exceed 7.5% of taxable income?

  Written by Marc   Posted 17 March 2016

Would it be correct to assume it is not worth doing the calculation for medical rebate if the amount paid out of your own pocket for medical services is less than 7. 5% of your taxable income?

What are business related expenses if you are a bookkeeper working from home?

  Written by Marc   Posted 17 March 2016

What are business related expenses if you are a bookkeeper working for several clients from home?

Tax deduction on bonus

  Written by Marc   Posted 15 March 2016

What percentage is taken from my incentive bonus of every three months.

Calculate my tax when I fund my own retirement annuity and the company pays half my Provident fund

  Written by Marc   Posted 15 March 2016

How can you calculate your tax when you have a voluntry retirement annuity and a compulsary Provident fund
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