How much petrol and electricity expenses am I allowed to allocated from my business account

Posted 8 March 2016

If have a PTY ltd running a laser cutting business with 2 directors. Petrol and electricity usage is currently paid our of my business.

Return from SARS for tax paid

Posted 8 March 2016

Hi. IF I Was not working for 7 months will I get any money from SARS.

I paid too much tax and need clarity?

Posted 8 March 2016

If I earn 6500 on a monthly bases why has may tax deduction been over a R1000 during the months of Jan and Feb 2016

Foreign income

Posted 8 March 2016

I am resident in SA for tax purposes I am working in Mozambique and paying 20% tax for non residents. I will be out SA in excess of 183 days. Is this income exempt and will I be able to claim any of the tax paid.

Refund from SARS confirmed but not paid yet. How does SARS calculate refund on med expenses?

Posted 7 March 2016

I submitted my tax return through SARS eFiling on 20/11/2015 and it was confirmed that I am entitled to a refund but has not been paid yet. I only claimed for expenses listed on my medical aid IRP5 not covered by my medical aid so there was no strange claims made. However, if I remember correctly, the initial tax return after I submitted was the amount for those medical expenses but when I checked the status of that tax return now, It was almost R200 less. This also happened with my 2014 tax return!...

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PAYE vs Provisional Tax

Posted 7 March 2016

I have a permanent job which caters for roughly 65% (660k) of my total gross income the other 35% (335k) is obtained by a business I run. Should I apply for provision tax and should my company be paying PAYE for me or should I be paying two payments as a provisional tax payer? How do I go about this if it is the case?

How much do I get taxed when I get paid R9000 p/m

Posted 7 March 2016

How much would I be taxed if I get R9000 a month?

How long does a SARS audit take?

Posted 6 March 2016

My documents were accepted on the 1st of February. I was told that I needed to submit additional documents. I did as of the 26th of February. How much longer before I receive a tax refund?

Is SARS using delay tactics to pay out money?

Posted 6 March 2016

I was notified that my assessment was complete and SARS owed me money. 60 working days after the claim, I have been asked for the same supporting documentation required in the first place. Is this a delay tactic to pay up?

What deductions are allowable against the proceeds for CGT calculation?

Posted 6 March 2016

I need to use the 20% of proceeds method to do my CGT calculation. What are the allowable deductions that I can deduct from the proceeds?

Tax refund delay

Posted 6 March 2016

It's been three to four weeks I submitted my tax returns and promised I'll get my refund but nothing to this day.

What is an IRP5 and what documents do I need to submit a tax return?

Posted 4 March 2016

What is an IRP5? I worked last year for seven months and my salary before tax was R16777. I have never submitted a tax return before and am pretty sure I am under the threshold but I want a refund, but have no idea what to do. I didn't receive medical aid or any benefits. Please help.

Providend fund CC contribution

Posted 4 March 2016

How does company benefits work when a company deducts providend fund form your salary? Do they contribute a percentage with the employee or does the employee pay 100%?

Tax on medical aid paid by the employer

Posted 3 March 2016

If a company pays medical aid on behalf of an employee, what are the tax implications on both the employer and employee?

How do I complete my provisional income tax form

Posted 3 March 2016

How do I complete my provisional tax form

Monthly tax

Posted 2 March 2016

I'm earning R12,000 including overtime but it looks like I'm paying too much tax of more than R1,000 is this correct amount? Provident fund of R480?

Calculate my tax deductions

Posted 2 March 2016

I earned R11660 a month gross salary how much will my tax be

Medical payment

Posted 2 March 2016

I have a medical bill to settle for treatment rendered in February. If I pay it now (in the new tax year) will it be for tax year 2017 or 2016?

UIF for self-employed

Posted 2 March 2016

Should I still deduct UIF if I am self employed and if so can I even claim it?

Small salary - do I need to file a tax return?

Posted 2 March 2016

I don't get a very large salary and the whole Tax thing makes me quite nervous. I have used your calculator before and it shows that I don't pay any tax. My monthly salary is R5500. 00 and only UIF gets deducted. Do I still have to do a tax return? I have no idea how this works and want to do the right thing, but am at a loss at how at this moment. Please help!!!

Am I paying too much tax

Posted 2 March 2016

Hi there my gross salary is R 20 000. My deductions are as follows provident fund r 903. 29 then p. A. Y. E tax is R 2 821. 65 and then uif is R145. 06 then I take home nett r16 130 is this okay?or am I supposed to be taking home nett of 17 000 like tax Tim revealed when I entered my details

Tax rebate on provident fund contribution

Posted 2 March 2016

I am a member of a provident fund. People that contribute to a pension fund get a tax deduction of 7. 5%. Provident no rebate. How will I be treated with the new tax law. Will I be entitled to a rebate as well and what percentage?

Do I pay tax on the pay out ? What about the R 500 K tax free rule ?

Posted 2 March 2016

I have been retrenched, the money from my Pension Fund has been transfered to Retirement Annuity Fund with a portion being paid out to me. Am I liable to pay tax on my pay out? I have not reached retirement age as yet. I am 57 yrs old.

Are training courses and related travel expenses tax deductable?

Posted 1 March 2016

Hi Tim,
I am a provisional tax payer in the health sector- I am not salaried and work for myself. Am I able to claim back on fees for training courses and the travel costs(flights, car rental)?

Secondly, I occasionally rent out my flat and wondered if this money is declared regardless of the rent earned or if there is a minimum amount from which earnings should be declared. Thanks!

Does loan repayment affect tax calculation?

Posted 1 March 2016

When calculating provisional tax, must your repayment on loan be deducted from the taxable amount?
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