Deductions Posts in Tax Q&A

Do I need to complete an IRP6?



You sent me a reminder to file my IRP6 Provisional Tax Return for 2016 however, I'm not sure whether I am still a Provisional Tax payer?

I did freelance work until Feb 2015, and from March 2016 I've been employed, paying PAYE through my employer. I haven't earned any additional income. Do I still need to complete an IRP6 as a Provisional Tax payer?

Can invoicing several clients constitute a salary and not trade?



I privately tutor pupils at their homes and invoice several clients for this service. One of them pays me a monthly salary (but pays nothing to SARS) based on monthly invoices and the rest I invoice by the hour. Can I declare all of this as a single salary and pay it with my ITR12 or do I need to register as a provisional taxpayer?

I changed from being employed (normal IRP5 scenario) to self-employed during the last financial year so I am not yet registered for provisional tax

PAYE refund



Do I qualify to get tax return money back if I was paying PAYE since 1 May 2015,and my basic salary was R5,000 per monthly till 26/02/2016

Business runs at a loss - do I need to submit provisional tax return?



Another question - what if the business has run at a loss? It's a medical practice, and turns out many of my claims will only be processed in March 2016 i.e Next tax year. That means my total income for the business so far has been R30 000, with expenses totalling R50 000. Surely I don't have to submit a provisional tax return?

Medical expenses but no Medical insurance



If you are self employed and do not pay for medical insurance and pay out of pocket for all medical expenses can you still deduct these?

Can I deducted 2 years from my CGT.



We just sold a flat that we owned for 10 years. We lived in it for 2 years but we've been letting it for the last 5 years. Do I need to pay CGT of the full 10 years of can I deduct some amount for tee 2 years that we lived in it and it was our primary residence?

Why am I taxed twice in a month?



My salary is divided into 2 payments per like I get my standard pay on the 15th of each month then all my allowances they follow on the 25th. So my question is why am I taxed twice in a month and why is the second tax deduction high than the deduction on the 15th?

Can I claim back my tax?



I earn less than R180 000 per annum. I only just entered the work force, and taxes still confuse me. I'm an independent contractor (but get set salary each month), and therefore I pay 25% tax. However, our accountant assured me I can reclaim all the tax I paid. Granted, last yr I earned only R74 000, paying 25% tax, and I know I can reclaim that. Basically, will I be able to reclaim the tax I am paying this year, and what is the maximum annual income for which you can still reclaim your tax?

Tax deduction on provident fund



What will my payout be on the following for my provident fund when I resign. I am not retirement age yet ( 52 years old ). On resignation from the SATU provident fund you are taxed on the full employer share and interest earned on the member share. (not on the member contributions)
My member contributions amounted to R170,585. 44. My current statement shows member and Employer share:

Member share Employer share Total share
R706,779. 50 R689,136....

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% take from tax



Im getting divorce, and claim 50% of my husband pension, it is in a provident fund, how much did SARS take from R140 000, please?

Dividend Tax



Is dividend tax deductible from normal tax payable for Micro Business exceeding the R200 000 dividends tax exemption threshold?

Is interest income taxable?





I have a money market account. Is the interest taxable?

Tax on retirement lump sum



Why deduct R130,000 36 % on retirement savings that exceed R1,050,000?

Is the cost of a new roof maintenance or capital expenditure



Can I claim the cost of a new roof and windows that I replaced on a house I rent out.

IRP6: Additional Medical Expense Tax Credit & Taxable Income vs Turnover



I've got 2 questions for my IRP6 form for tax year ending Feb 2016:

I am: provisional tax payer; and an individual - no dependents. 1. Is my taxable income the same as my turnover if I don't have any other deductions?

2. Is the amount that I enter into the Additional Medical Expense Tax Credit field literally all the medical expenses that I incurred in the period, which were not covered by Medical Aid?

Loans on my tax return?



Do I need to reflect loans and repayments when capture income and expenses?

UIF Deduction



Must UIF be deducted from an employee on maternity leave if the company will be paying 75% of her salary?

Can you do dispute on my behalf via eFiling?



Hi Tim, I am an estate agent and SARS IT34 reflects I should pay them -R20k 2015 Taxyear.. I think I completed the forms incorrectly on e-filing. I now wish to request a dispute. I have all my receipts. Can you help me with it please? Do I need to buy the Ultra package? Please advise urgently as I know I need to get a refund. Regards Julie Bosch

Contribution to ex-wife maintenance for children tax deductible?



Are contributions to non-working ex-wife's medical aid as part of child maintenance agreement deductible, she is the main member.

Company car versus personal car and travel allowance



A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work.
What is the most beneficial method in terms of tax:
to buy a car in his own name, or to buy one in the company name and use it for business and personal (will be small personal use)?

Tax payable on sale of shares



I am a pensioner 71 years of age. If I sell shares in a company to the value of R33,000.00 and my annual income is R120,000 what % tax would I have to pay on the R33,000?

Taking medical aid tax credits into account in provisional tax calculation



Hi there, I need some help completing my second provisional tax return. My employer deducts my medical aid tax credits (for myself and a dependent) each month on my payslip. Therefore, on my payslip each month is my gross earnings less my deductions (of which the medical aid tax credit is subtracted from the monthly PAYE amount due). However, at the bottom of my payslip, where it shows total tax paid to date figures, the amount here is the PAYE amount, BEFORE deducting any medical aid tax credit. My question is now when I submit my provisional tax return, do I enter the medical aid tax credits in the section provided for?...

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Can I claim VAT input even though I haven't charged VAT output?



My PTY(LTD) voluntarily registered for VAT, However I have not being charging vat on the supplies my company makes and have not issued valid tax invoices for the supplies made. Can I still claim the input VAT from expenses incurred even though I have not charged VAT on my taxable supplies?

Pension money deduction



Wat will be my tax deductions on my pension money estimated at R2 989 747,00

is a marriage by muslim rites included in the definition of a spouse regarding donations tax?



What should I select for marital status when filing tax return, religious marriage (married by muslim rites) usually muslim marriages are ANC however we have not yet registered our marriage?
Will my husband be expected to pay donations tax on cash he transferred to me for safe keeping? For tax purposes are we considered to fall within the definition of spouse and as such not be liable for donations tax?

Example: Husband transfer R500 000. 00 of his savings to wife married in accordance with muslim rites, wife invests the money with a Bank and earns interest on it...

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