Written by Marc
Posted 12 November 2013
Written by Marc
Posted 12 November 2013
Written by Marc
Posted 12 November 2013
Written by Marc
Posted 12 November 2013
Written by Marc
Posted 12 November 2013
Written by Marc
Posted 12 November 2013
Written by Marc
Posted 12 November 2013
Written by Marc
Posted 12 November 2013
Written by Marc
Posted 11 November 2013
Written by Marc
Posted 11 November 2013
Written by Marc
Posted 11 November 2013
I am starting a retail store business, selling hand-made products. This business will be run as a sole proprietorship and the premises for the store will be leased from the property owner.
I have never registered for income tax (personal or company) before.
I forecast turnover of about R300,000 per year and am considering registering for SARS turnover tax.
If I do register for the turnover tax would I still need to register for personal income tax? I have set up a separate busin...
Written by Marc
Posted 11 November 2013
Written by Marc
Posted 11 November 2013
Written by Marc
Posted 10 November 2013
Written by Marc
Posted 9 November 2013
Written by Marc
Posted 9 November 2013
I turned 65 in February and after a brief visit to UK established that I qualify for a small pension based on what I paid in before emigrating to SA. It amounts to some R40k per annum. I am presently unemployed (no salary presently) due to losing my business last year, but I am working on changing this situation (may be salaried later this year). Two questions:1) if un-salaried would this small amount of pension be subject to tax by SARS.2) if I had the tax from UK paid into my local bank accoun...
Written by Marc
Posted 8 November 2013
This is a great site, thank for all the effort you put in to helping others. My question is as follows:
I completed my 2013 return. I was then selected for random audit, and submitted the required documents. However my 2009 documents were submitted for my 2013 return (long story!). This resulted in me owing SARS R3,500. I requested a correction, which was done, and my corrected 2013 return reflects that SARS owes me a refund of R1,600. However, the erroneous R3,500 refund figure is still reflected on my statement of account. So SARS is requesting that I pay the remaining balance of R3,500-R1,600. ...
Written by Marc
Posted 8 November 2013
Written by Marc
Posted 8 November 2013
Written by Marc
Posted 8 November 2013
Written by Marc
Posted 7 November 2013
I own two properties. Property A is my primary residence, and is bonded for R700k. Property B is a rental property, is valued at R1m and is bonded for R500k. I make a rental profit from Property B after deducting the loan interest and all other deductible expenses, and thus pay tax on that net income. My idea is to register a second bond on Property B for an additional R500k, and transfer that money into the bond of Property A. The increased interest paid on the combined bonds of Property B woul...
Written by Marc
Posted 7 November 2013
Written by Marc
Posted 7 November 2013
Written by Marc
Posted 6 November 2013
Written by Marc
Posted 6 November 2013
Last year a friend of mine registered me on eFiling so this year I went through a tax practitioner to claim for the first time. The lady claimed for medical and I don't have a medical aid. Then SARS phoned me and said they needed my medical certificate to be submitted within 21 day otherwise they are going to give me a penalty but I don't have medical aid and now they are thinking I was being dishonest and selected me for an audit. I am so scared now as its the first time I am claiming. What mus...