How to submit tax for freelance work

  Written by Marc   Posted 2 February 2015

I have been freelancing for 8 months now and have generated some income. How do I submit my tax return for these cash deposits? They are all different amounts from different clients. I obviously do not have an IRP5 as these were cash based payments.

How to calc and when to pay CGT on a once off payment?

  Written by Marc   Posted 28 January 2015

received a once off payment in June 2014 from a trust and my company asked Phillipp Haut for an opinion on how it should be taxed. His response was
What is certain though, are the following:
1. The beneficiary must disclose the capital gain in his or her tax return. 2. This involves showing the relevant portion of the trust?%u20AC%u2122s proceeds and base cost of the shares. 3. No employees?%u20AC%u2122 tax needs to be withheld. 4. The capital gain must be taken into account in the employee?%u20AC%u2122s second provisional tax return for the year in which the gain is distributed to him or her. My questions are:...

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Offshore Tax working for SA company

  Written by Marc   Posted 28 January 2015

I work offshore for a SA company and as such have monthly tax deductions. I have been out the country for more than 183 days of which 105 days were consecutive. Do I qualify for tax exemption and able to claim my tax back?

Source code 3022 - PROFIT FROM TRADING ACTIVITIES (TAXABLE) not on eFiling

  Written by Marc   Posted 28 January 2015

I am trying to declare the profit on the trading of shares (non-Capital gains) in e-filing but the required source code (3022 PROFIT FROM TRADING ACTIVITIES (TAXABLE)) is not available on the pop-up list and I cannot force any other source code than those on the system. What do I do now?

Tax refund on inheritance

  Written by Marc   Posted 28 January 2015

My partner inherited some money (from policies and investments) over the last financial year and paid a lot of tax on the payments. My question is, because he is not employed, can he claim any of the tax back?

Declaration of donations for tax purposes on the ITR12?

  Written by Marc   Posted 26 January 2015

My wife is a housewife and does not earn any income. I regularly make investments for her into unit trusts. Do I have to declare these donations to SARS? Thank you

What declaration must a partner in an investment partnership include within his/her tax returns?

  Written by Marc   Posted 25 January 2015

A number of individuals contribute monthly towards a partnership whose sole business is investing in the stock market. This results in capital gains and interest being earned on an annual basis. The administrator of the partnership issues an annual statement which reflects the % holding, interest and capital gains/losses which were derived during the relevant tax period. This annual statement is issued by the administrator for purpose of the individual partner's tax declaration in respect of the...

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S10(1)(o)(ii) - does all the time out of SA need to be spent actually working?

  Written by Marc   Posted 25 January 2015

I am a freelancer, and last year I spent 248 days out of SA, in three blocks (including one block of more than 60 days). During some of this time out of the country, I did some contract work - two jobs for two different foreign companies, and one job for a South African company. But I spent much of the time not actually working, but travelling/holidaying. Of the 248 days, only 97 were spent on work contracts. So I just want to clarify whether the income I earned on those three contract jobs is t...

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Do local dividends do they get reflected on an IRP5?

  Written by Marc   Posted 19 January 2015

Local dividends do they get reflected on a IRP5?

Can I distribute dividends on the DTR01 form to more than 99 beneficieries ?

  Written by Marc   Posted 19 January 2015

I have a query regarding the DWT01 form on e-filing, we need to distribute dividends to /- 154 beneficiaries and according to my knowledge you can only select 99 beneficiaries to distribute to on the DWT01 form.

Will we able to distribute to more than 99 beneficiaries on the DTR01 form on a single period?

Tax payment for over 65 years?

  Written by Marc   Posted 18 January 2015

I am 65 years old married in community of property, I receive a monthly annuity of R5,000, I also receive interest from fixed deposits of R16,000 per month, what would my tax payment per annum be.

What is the rate of tax for the sale intellectual property to a foreign company?

  Written by Marc   Posted 16 January 2015

What is the rate of tax for the sale intellectual property to a foreign company?

Are there ANY tax on foreign pensions ? (in the country of origin ?)

  Written by Marc   Posted 12 January 2015

A widow whose husband was employed in Germany now lives in SA. She receives her late husband's pension. Germany want to back date tax on her pension paid to her in SA - back to 2006.
We are aware that there is no tax in SA on foreign pensions. Is it fair then to tell the German authorities that the widow taxpayer IS registered in SA for tax, so they must NOT tax the pension at source ?.
All the articles talk about no tax in SA on these pensions but don't seem to address the issue of w...

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I have no IRP5, but I am tax for so Two years, I don't even know who I worked for?

  Written by Marc   Posted 10 January 2015

I am a freelance artist, sometimes I don't get my RIP5 and I spend months sometimes without a job, maybe a year, so how do you deal with people like me who are tax and have tax number but can't find the IRP5 when we required to bring it? What happens to us don't we get our return back? Should one forget about tax?

Calculation of 183 days outside South Africa for income tax exemption as per Section 10 (1)(o)(ii)

  Written by Marc   Posted 8 January 2015

Can the entry and exit dates as per the South African Passport Control stamp in you passport be used as the entry and exit days (both days included) to calculate the 183 days outside South Africa for foreign salary income tax exemption, as per Section 10 (1)(o)(ii) for example: depart from South Africa the morning of 1 January 2015, passport stamped as "exit" by South African Passport Control and enter South Africa again on afternoon 10 January 2015, passport stamped as "entry". So days outside ...

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Registering as a SA taxpayer

  Written by Marc   Posted 28 December 2014

Hello Tim!

I'm a foreigner living in SA on a relative visa, with my spouse. I would like to get a business endorsement on my visa.
1. At this stage, do I need to register as an income tax payer only?
2. How long will it take me to get the taxpayer's number from the day of submission?

Please, let me know.

Many thanks!

Tax Refund Calculator?

  Written by Marc   Posted 22 December 2014

The calculator....."Work out salary tax (PAYE), UIF, taxable income and what tax rates you will pay"...does not include interest (local foreign), dividends (local foreign), rent, "other" income...

Tax on Interest only income?

  Written by Marc   Posted 19 December 2014

I'd like to know how tax works based on this assumption:
>>
I have only one income and it's purely from interest earned off of investments (simple investments that give a fixed rate monthly so nothing funny about offshore, shares, etc.)
>>

My guess is that it's the equivalent of earning a salary (i.e. if you earned R3500 in interest monthly that you'd look up the tax rate in the current tax booklet and therefor have to pay nothing as tax appears to only be required when earning more than R5891 monthly)...

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Pro rate exemption on primary residence?

  Written by Marc   Posted 18 December 2014

Would I qualify for pro rata primary residence exemption if I let my house for 7 years while out the country. The property was purchased in July 2001 as my primary residence then rented out from June 2006 to date of sale March 2013. I have not lived in the house since May 2006.

Hi how do I Declare rental income on my tax form?

  Written by Marc   Posted 5 December 2014

How do I declare rental income on my tax form? If my rental income is less than my bond, municipal and levy costs do I have to declare as I am at a loss?

What are the requirements to claim back PAYE when working outside the country (SA)

  Written by Marc   Posted 3 December 2014

What are the qualifications if working outside SA to claim back your PAYE?

Cruise Ship Work?

  Written by Marc   Posted 2 December 2014

I work on a cruise ship and get paid in US Dollars. I am only in south africa probably 8-10 weeks a year. Do I have to declare that foreign income and pay tax on it? also if I want to buy property here how will that impact me on a taxation basis?

When calculating the tax portion on a lump sum payment isn't the first R500,000 tax free

  Written by Marc   Posted 29 November 2014

When calculating the tax portion on a lump sum payment isn't the first R500,000 tax free which means the tax calculation should only be done on the remaining portion. With a lump sum of R3,000,000 the taxable portion is R2,500,000. This means the tax will be 36% of the amount exceeding R1,050,000 + R130,500 which is 36% times (R2 500 000 - R1,050,000) plus R130,500 = R 652,500

Where do I enter figures for local Dividends received and Not married, 3 children, rebate 4 child?

  Written by Marc   Posted 27 November 2014

Where do I put in local Dividends received - I entered it under foreign which is not correct?
Have entered not married but have 3 children - receive rebate for children?

What to enter for "creditors", under Assets & Liabilities, on ITR12 form?

  Written by Marc   Posted 24 November 2014

I earn rental income so am completing an ITR12 form. Under local assets & liabilities, the "creditors" section... does one complete 'all payments made to creditors throughout the tax year' OR the balance of what is owed for the full account OR the current monthly installment owed OR the installment owed for the month at end of tax year..?
Many thanks in advance!
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