Paye & uif query

  Written by Marc   Posted 11 May 2015

A 68 year old casual worker (23 hours per week) does he get paye & uif
A foreign contract worker (8 months) does she get paye & uif

Which form do I need to fill in to get registered for tax as a freelance artist ?(Foreign National)

  Written by Marc   Posted 30 April 2015

I am a foreign national student (Zimbabwean), I am an freelance performer, I want to register for tax, which form do I need to fill in?

What is the maximum amount a pensioner can earn from investments to avoid provisional tax?

  Written by Marc   Posted 21 April 2015

I am 73. I earn a pension of R237600 pa before tax. I get rental income on investments of R15000 pa. Do I have to pay provisional tax?

PROPERTY OWNED BY A CC - WHAT IS BEST, SELL THE CC OR THE PROPERTY

  Written by Marc   Posted 21 April 2015

What is best from a tax point of view when selling property (vacant land selling price R1. 5m) owned by a CC: 1. Sell the property out of the CC, or 2. Sell the members' interest

Investments while an expat? Are they taxable?

  Written by Marc   Posted 21 April 2015

I am working abroad and paid by an oversees company and as I understand I am not liable to pay tax in SA as long as I am out of the country for more than 180 odd consecutive days in a year. My question is what about income on investments made abroad in this time, is that also tax free?

IT3a flag stated, but I have my own business (consultant) - how to proceed with TaxTim questions?

  Written by Evan   Posted 17 April 2015

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 ...

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I would like to find out the total interest included in my taxable income?

  Written by Marc   Posted 6 April 2015

Hi, Please can you tell me if I am beneficiary of a trust under 65 years and my only income is local interest of 21500 and foreign interest of 2750 received from the trust how much will be the total interest included in my taxable income

Can you be issued an IT3B without having any investment products of any kind?

  Written by Marc   Posted 6 April 2015

Can you be issued an IT3B without having any investment products of any kind?

Tax on UK pensions for expats who are resident in South Africa?

  Written by Marc   Posted 6 April 2015

I am a 49 year old UK citizen with a national health service pension and a private pension (SIPP). I am planning to emigrate to South Africa and (being married for 7 years to a South African Citizen) become a South African citizen. We plan to work and then retire in South Africa. As I will no longer be a UK resident my pensions will be paid gross of UK income tax. How will the lump sums and monthly payments be taxed in South Africa?

Informing SARS of Inheritance or donations received from overseas?

  Written by Marc   Posted 6 April 2015

I am a SA tax resident. What is the process regarding informing SARS if I receive inheritance or a donation from an offshore relative into my offshore account? Also do I need to pay any tax other than CGT going forward?

Corporate Social Investment for tax purposes?

  Written by Marc   Posted 6 March 2015

I am wondering about the Tax Benefits for companies that donate money for CSI (Corporate Social Investments) is there a certain starting amount companies need to donate? How do I know if my company donates to a charity or NGO that I will get the Tax Benefit? What paperwork should I be asking to see from the NGO or Charity. Your assistance would be greatly appreciated.

Am I correct in what I propose doing?

  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...

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Where to declare foreign income on ITR12

  Written by Marc   Posted 28 February 2015

I am in the US on a work visa. I have not been back to US in over 2 years. I have South African rental income for the 2014 tax year but no salary income. Where do I declare my foreign income on my ITR12? Is it under SARS code 4222 or Exempt Amount i. T. O. S10(1)(o), or both?

Do foreign nationals working fulltime with part-time work declare tax for monies paid?

  Written by Marc   Posted 27 February 2015

I am a foreign national on a work permit currently permanently employed and also want to start free-lancing/consultation work. I have had calls from companies/businesses needing my skills and I decided to register a company in my name at CIPRO. The issues are I need a business permit to open a bank account and then register at SARS but this is a huge mountain to climb due to the "unfavorable" requirements required by Home Affairs. If I go ahead with this work whilst I work on my busine...

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Role of SARS in NGO's

  Written by Marc   Posted 25 February 2015

What is the role of SARS in non-profit organisation?

What are the tax implications of transferring shares without selling them?

  Written by Marc   Posted 23 February 2015

If one were to transfer shares in a listed company from person (a) to person (b) without selling them is the only tax implication the STT (securities transfer tax) of 0. 25% of the value? Does person (a) have any other tax implications? and when person (b) sells the shares what would the base cost be? (the same as person a's cost or 0 as person (b) did not pay for the shares)

I need assistance regarding provisional tax

  Written by Marc   Posted 17 February 2015

I am a full time salaried employee who earns a monthly salary from my employer which is taxed. However I also do 'contractual' work for the same employer that is not taxed like my salary is. I started receiving this additional income from September 2014 - February 2015 and in total I would've received R22,000 income that has not been taxed by the end of Feb. I want to know if I need to register for provisional tax? How much would I be looking at paying? I do have expenses that I would like to in...

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TAX ON FOREIGN INCOME

  Written by Marc   Posted 14 February 2015

What EXACTLY does this mean:"Foreign tax credits for this period (6 months) - if you earned money from overseas and any taxwas withheld or paid, include that amount here"?I get rental money (paid into an account in the UK) from a flat I own in London. I have to pay tax on that in the UK. So what does the above mean as far as I am concerned (I'm completing my second IRP6 for 2014-2015 period)?

Foreign income tax for SARS?

  Written by Marc   Posted 11 February 2015

I'm moving back to South Africa after 5 years but have forex investments abroad, I will be transferring the profits to my south African bank account monthly once I am back, how will I be taxed for this? if I keep the money abroad will it change things?

Tax on interest income?

  Written by Marc   Posted 6 February 2015

What is minimum amount of interest income that is non taxable. Also where is taxable interest reflected on the return?

Wasn't earning, now earning what will I pay in tax and do I go to SARS instead of eFiling.

  Written by Marc   Posted 5 February 2015

I'm a work at home struggling writer who doesn't get much work. I added up my bank statement for this year and I earned about R100k. I've been doing eFiling since it started but was told two years ago not to submit a tax return since I earned too little. R100k puts me into a tax bracket - do I go to my local SARS and fill in a form or do I do this online? BTW I bought a PC and Monitor, can I deduct that.

Freelance Income from International Clients on ITR12?

  Written by Marc   Posted 4 February 2015

I have a international client that pays me monthly but they cannot supply me with an IRP5 since they not based in SA. How do I go about paying my tax?

Addional income from Mauritius - where do I include this on my return?

  Written by Marc   Posted 2 February 2015

I am employed in South Africa, and I am a South African tax resident. I have the opportunity to do work for a Mauritius company. Essentially I will be on a South African company's payroll as well as a Mauritius company's payroll. I will be spending less than 60 consecutive days in Mauritius so I will remain a South African tax resident. How will my additional income from Mauritius be taxed? Will I have to pay PAYE in Mauritius and pay tax again when I submit my return to SARS?
I have heard ...

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When primary residence becomes secondary residence, what happens to capital gains tax?

  Written by Marc   Posted 2 February 2015

I bought my flat 7 years ago for R1 million, and it's probably worth R2. 5 million now. It's been my primary residence up till now, so I know I won't pay capital gains tax on it if I sell it right now. But what happens if I instead buy a new house to live in, and keep my flat to rent out (so it becomes my secondary residence)? Say I sell the flat in 3 years for R3. 5 million. Would the capital gains tax be calculated by subtracting R1 million from R3. 5 million to get R2. 5 milli...

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Where to put interest earned on income tax return

  Written by Marc   Posted 2 February 2015

Where do I complete interest earned on my return?
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