Written by Marc
Posted 3 March 2015
Written by Marc
Posted 3 March 2015
Written by Marc
Posted 2 March 2015
I have dual citizenship. I have resided in the UK for the last 5 years with my children. Income from living annuity is being limited to 3%. I plan to sell my shares over 8 years and remit the proceeds together with the annuity to cover my living expenses and then increase my annuity to cover future shortfalls on my living expenses. I am 75 years old. My intention is to keep my taxable income below the tax threshold. I pay 15% WHT on dividends. I earn no income from any other source in South Afr...
Written by Marc
Posted 1 March 2015
Written by Marc
Posted 27 February 2015
Hello. I work for a company where I was previously employed full time before I relocated. Now I work on a contract basis (contract renewable annually) performing tasks previously in my job description from a home office which I furnish, equip and maintain myself. I work unsupervised and submit an invoice monthly for a set number of hours worked and am paid an hourly rate. As this is my only income, the company deducts PAYE, but I pay for medical aid, retirement annuities and income protection pr...
Written by Marc
Posted 27 February 2015
Hi Tim, I am a sole proprietor and have a question about deducting my vehicle and petrol for business use. Currently I am deducting 70% of my vehicles monthly installment as well as 70% of my fuel costs from my taxable profit. However I have not been keeping a log book, the 70% is an estimate which in my opinion is a bit lower than my actual business use. Almost all my mileage is for business use. Could I get in trouble for this? Do I need to keep a logbook? If ever asked by sars I could give a ...
Written by Marc
Posted 26 February 2015
Written by Marc
Posted 26 February 2015
Written by Marc
Posted 24 February 2015
Written by Marc
Posted 22 February 2015
Written by Marc
Posted 20 February 2015
Written by Marc
Posted 17 February 2015
Written by Marc
Posted 17 February 2015
Written by Marc
Posted 11 February 2015
Written by Marc
Posted 11 February 2015
Written by Marc
Posted 9 February 2015
I am 43 and I earn per month a gross of R71 805, with a contribution of R3705. 15 as my contribution towards my pension. I have made provision for payment of my bonus as at my birth date which is 03 August of every year with the option the tax thereof recurring. What should be take home after tax, put differently, what should I be contributing as my tax on a monthly basis?
I started with my new employer on 01 October 2014, does a start date have an effect on my tax contributions, if s...
Written by Marc
Posted 4 February 2015
Written by Marc
Posted 31 January 2015
Written by Marc
Posted 29 January 2015
Written by Marc
Posted 26 January 2015
1. I am a salaried employee, I receive a travel allowance so I claim my business km's by using a logbook- but I would like to know whether I can also claim the depreciation on my vehicle even if I claim km's?
2. My wife was unemployed for 18 months, so I paid for her medical aid, she submitted a 0 return for herself, would just like to know whether I can claim the medical aid expenses on my tax return ( as I paid for it, but it is on her name). 3. I have a Samsung Tablet which I use 9...
Written by Marc
Posted 25 January 2015
I am a freelancer, and last year I spent 248 days out of SA, in three blocks (including one block of more than 60 days). During some of this time out of the country, I did some contract work - two jobs for two different foreign companies, and one job for a South African company. But I spent much of the time not actually working, but travelling/holidaying. Of the 248 days, only 97 were spent on work contracts. So I just want to clarify whether the income I earned on those three contract jobs is t...
Written by Marc
Posted 23 January 2015
Written by Marc
Posted 22 January 2015
Written by Marc
Posted 20 January 2015
Written by Marc
Posted 16 January 2015