Can you help me with Provisional Tax return?

Posted 30 January 2013

I am retired and my income is from Momentum who have invested my Pension Contributions when I retired. I always go to SARS to assist with my Return and was told last year that I am a provisional tax payer because of the savings I have and the interests I receive from these (over the allowed amount). I went to SARS to assist me with my first Provisional Tax Return in August 2012 & had to pay in R1000. I am very nervous to do Period 2 for 2012/2013. Are you able to assist me?

Do I need to submit deductions if total income is less than tax threshhold?

Posted 28 January 2013

Over the past years I went to great lengths to work out all my expenses for my provisional Tax return for my small, part-time therapy business and renting out a small flat. Do I really need to do this even if my total income does not reach the tax-threshold? This question still pertains to last tax-year (ending 28 Feb 2012),

Can I claim back on RA contributions if my business is the payer?

Posted 28 January 2013

I'm self employed, I have a retirement annuity but my premiums are paid through the business.

I live in South Africa, but working for a offshore company.

Posted 28 January 2013

I live in south africa, but working for a offshore company. They pay me a salary/package, but do not deduct any paye/tax from me. I need to sort this out myself with sars from within South Africa

What is the process that I need to follow?

I have not submitted the August return, do I send 2 in February?

Posted 23 January 2013

My tax consultant only now told me as a provisional taxpayer I should have done a return for 2012/2013 tax year in August and a second one in February. It is now late January - so do I send in two returns or just one?

I tried to request a provisional tax return But Status: Awaiting Registration Verification???

Posted 23 January 2013

I've registered as a provisional tax payer as i am a school teacher earning R5 000 and I earn commissions that add up to around R15 000 pm. I cannot get the return to fill it out though. Says Status:
Awaiting Registration Verification

Supporting documents - what if they are not submitted on time? I uploaded and forgot to submit?

Posted 21 January 2013

Hi Tim, great website and good gen. SARS phoned me asking for a schedule of my deductions. I uploaded it and forgot to click on 'submit', then received a second assessment disallowing the deductions - probably because I didn't submit the document.

What do you suggest? If I lodge a notice of objection, will they allow the late submission of the document? How much should I explain to them - fall on their mercy regarding my mistake, or just assert that I am entitled to the deductions? <...

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How do I proceed with a tax directive? (One associated with my ex employer & from the pension fund)

Posted 16 January 2013

I retired on 30th June 2012 and received a SARS Tax Directive that states that "tax amounting to R0.00 is to be deducted from the gratuity / lump sum payment of R308732.65." What use does one make of this tax directive? Am I correct in assuming that this amount is to be subtracted from Income received (Codes 3697 & 3698). Is it still possible to submit my return via the provisional tax electronic medium; or will I now have to file a return manually at the end of February 2013?The p...

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Please advise cost if you completed my annual tax return and provisional tax returns?

Posted 15 January 2013

Please advise cost of completeing my annual income tax return and also provisonal tax returns

What is the last date for submitting my tax return?

Posted 14 January 2013

I would just like to know what is the last date for submitting your personal tax forms?

Is the sale of a business taxable?

Posted 7 January 2013

If I were to sell a business, would I pay tax on the sale price? and if appropriate, how would this tax be calculated?

Am I a provisional taxpayer if I work freelance?

Posted 3 January 2013

I'm a freelance writer earning very little, in fact I might just be over the tax threshold of R58k in the coming year. Do I have to register as a provisional taxpayer and do I have to pay 18% up front for the next tax year? (I've done 2011-2012, I was below the R58k)

How do I restart the TaxTim questionare?

Posted 21 November 2012

I have changed my status from provisional taxpayer to PAYE. The questionnaire asks me questions relating to source codes eg. 2006, 4002 etc which are not on my IRP5 form. What should I do?

ITR12 and Provisional Tax, how does it all work?

Posted 20 November 2012

Hi Tim, I am registered as a provisional tax payer as I run a sole prop but I am also registered for PAYE as I am employed by a CC I am a member of and I draw a salary. The ITR12 takes into consideration only the PAYE and UIF paid but not the provisional tax paid. Will SARS make the connection that the amount showing as owed on the ITR12 for the provisional tax has already been paid when I submitted my IRP6's? The amounts are correct (what the ITR12 says I owe and what I actually paid as provisi...

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PAYE threshold and small business TAX, how does it work?

Posted 20 November 2012

I hope you can help me - my question is two-fold. My wife was working for the 2011/2012 tax period earning R3000-R4500 (as a salary). Do we need to submit a tax return for her? Since June this year she has started her own photography business from home (her only income) - we keep track of all expenses etc. Does she pay tax on the income or on the profit she makes? Does she need to register as a provisional taxpayer (the company is not registered & she trades under her own name)? If so is it ...

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How much can I deduct for expenses from money I earned in Saudi Arabia?

Posted 16 November 2012

Hi, I taught a two-week course in Saudi Arabia, and they paid me straight into my bank account. Do I have to pay taxes on the full amount, or is there some fixed amount per day I can deduct for expenses?

Are there penalties on incorrect information?

Posted 8 November 2012

Hi, I mistakenly did not pick up my medical payments deducted from my salary as a 'tax perk' which therefore adds to my taxable amount. I now have to pay in more tax after I have already completed both provisional tax forms, only to discover this now when I must submit my ITR12 now in November. Are there penalties and interest involved, since the year end is Feb and it's now Nov already?

How to correct or change type of tax payer on TaxTim?

Posted 8 November 2012

I logged on as provisional taxpayer instead of PAYE, how do i change it?

I am a provisional tax payer, but I want to claim on my annuities at year end, where do I do that?

Posted 6 November 2012

There is no space on the IRP6 to fill it in?

I am a reserve soldier and only recieve a salary when I am working

Posted 3 November 2012

I am a reserve soldier, so I only get paid my salary when I am camping. Hence I have trouble answering this provisional question.

What is included in Statement of Assests and Liabilities on ITR12?

Posted 31 October 2012

If I earn business income as a sole proprietor for services delivered as an electronic engineer, do I need to declare all my personal assets (bank balance, investments, motor vehicle, etc.) on the Statement of Assets, or only the assets that I mainly use for business (i.e. laptop computer)? I do not have a separate business bank account. Do fixed bank deposits fall under "Financial instruments" or "Cash in Bank" or does it not really matter? For investments such as unit trust...

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When completing a IRP5 do we deduct the medical tax credit from the paye before putting on the IRP5

Posted 29 October 2012

We are not sure whether you deduct the medical tax credit from the paye before filling in the paye on the IRP5 or do we put full paye in before medical tax credit

How do I convert from a provisional taxpayer to a regular taxpayer?

Posted 29 October 2012

I have been paying tax as a Provisional Taxpayer to 2004 tax year. I was then permanently overseas and no longer liable for tax in SA. I returned in April 2012 and wish to pay tax as a regular taxpayer. Do I need to re-register or can I give my employer my provisional tax reference no.?

IRP6 form

Posted 29 October 2012

Do you perhaps know where I can access the IRP6 form?

Sole Proprietor, Importing and Tax?

Posted 10 October 2012

Hi Tim

Hope you can help me as I'm having a hard time finding the correct information.
I would like to start importing small quantities of goods, for resale, into South Africa as a Sole Proprietor. Now as far as I can tell I will need to complete the following forms at SARS to get an Importers Code: DA185 and DA 185.4A1.

Now the thing is I don't have a tax number etc because I've just finished my studies and I'm just starting out as a Sole Trader, and from the looks of it the DA185 form requires that information....

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