Business Training Costs for Commission Earners

Posted 19 November 2014

Hi Tim - Thanks as always for an excellent service - I have been using TaxTim for about two years now.

My Question is regarding business seminars and training courses to further your working skillset. For instance I went on a sales training seminar voluntarily. I work as a commission-based sales executive. Can I claim the cost of this course back from SARS?

Claiming deductions for business expenses working as an independent contractor for a foreign company

Posted 19 November 2014

I work as an independent contractor for a company based in San Francisco, USA from my home office in Cape Town. Each month I invoice them for the number of hours worked and they pay in USD and I handle the forex to convert that to Rands.

I have some expenses directly incurred in generating this income (telecoms costs, software licenses, computer equipment depreciation and a portion of my electricity and rent for the home office, etc). I don't have an IRP5 from them since I'm not an employee and they aren't a South African company...

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Maximum amount under code 3703

Posted 19 November 2014

My company reimbursed me an amount of over R50k on code 3703 (non-taxable reimbursement) for fuel used during the tax year. SARS then moved the full amount to code 3702 (taxable reimbursement) saying that this amount exceeded the max allowable for code 3703 which is R25920 (8000km x R 3.24). They now want me to pay more than R15k in additional taxes. They asked me now to provide an amended IRP5 showing not more that R25920 under code 3702 which I have requested from my employer. Is there anythi...

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Reistoelaag kodes 3701 & 3702 verskil

Posted 18 November 2014

Hallo. Wat is die verskil tussen die reistoelaag kode 3701 & 3702 en wat is die impak daarvan?

Capital Gain Tax for Private Vehicles Used for Business?

Posted 18 November 2014

I have a private vehicle which I use for business purposes.
I receive a travel allowance and also claim deductions on my return, based on the business mileage I do on the vehicle.

If I sell this vehicle, would I calculate capital gain/loss on the sale of the asset to input in my tax return?

Query for Tax Tim Website - want to know what documents to bring along to the internet store before.

Posted 18 November 2014

What documents do I need when asking tim to complete my SARS tax form? IRP5 and anything else ?

What is I dont claim the kilometres travelled but I have a travel allowance?

Posted 18 November 2014

what if I have travel allowance and I don't claim the kilometres I traveled?

SARS need documents. What do I do?

Posted 17 November 2014

SARS need documents. What do I do?

Lost logbook what to do as SARS requires it?

Posted 16 November 2014

I have lost a log book and SARS need me to submit it. what should I do, it is for this tax season?

Tavel Expenses no Allowance

Posted 15 November 2014

As a commission earner with no allowance I have travelled about 15 000 km what method do you suggest I must use to claim the fixed method of R 3.24 per km or what else

WHAT ARE DEDUCTIBLE EXPENSES FOR SELF-EMPLOYED SURGEONS

Posted 15 November 2014

I am a self-employed surgeon in the private sector. My business is my primary source
of income with most expenses [ including the astronomical amount for my insurance!] being
covered by it.

How do I fill in my tax return? What can my deductible expenses be? I travel to congresses
regularly and cover most of those expenses on my own.

When I was employed in the state sector it was much easier with my IRP5 Form.

If you're a freelancer who earns below R70 700, do you have to submit a provisional tax return?

Posted 14 November 2014

I am a freelancer but I earned under the R70 700 threshold. Do I have to register for provisional tax? Some people have told me that I have to submit a provisional tax return anyway while reflecting on the return that my taxable income was zero. Seems stupid.

Web Development source code for eFiling

Posted 12 November 2014

I've did some freelance web design and development in the last tax year and so now have to declare it on eFiling. No IRP5's or anything formal like that, so I've added it under Local Business, Trade and Professional Income. My problem is that I don't know what source code to use. eFiling gives a pop-up that allows you to select something, but nothing relates to website development (I'm not even sure what Trade Section to use). The list of source codes on SARS website also turned up nothing.
...

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Home office space deduction for tax purposes on my ITR12?

Posted 12 November 2014

I have a small business. How much can I deduct for office space? My home is 800m2, using 80m2 as real office space. My homeloan deduction is R42 000 (R22 000 interest)?

Contract work (Freelance administration)

Posted 12 November 2014

I am a contract worker and I have worked for two different companies this tax year. The one company submits an IRP5 for me which makes my life easier, but the other company I worked for did not issue an IRP5 so I need to add that income to my Tax form, can you help me please?

Transfer provident fund

Posted 12 November 2014

I resigned from my job at the end of December 2013 so that I could study this year. I transferred my provident fund (momentum funds at work which was mandatory company group benefit scheme) to Allan Gray provident preservation fund. I now see that there is a new form (IRP5/IT3) on my ITR with the details of the transfer (income received 3920 and gross non-retirement income received 3698).So the question is am I going to get taxed on this or how do I indicate that it was a transferred to a new fu...

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Depreciation/Wear and Tear

Posted 12 November 2014

Calculating Depreciation/Wear and Tear (note 47), does it apply to both provisional taxpayer and regular taxpayer ?Under which conditions can you claim for it ?

Tax implications of working in Germany

Posted 11 November 2014

I work in Germany, am taxed in Germany (heavily it seems). What are my tax implications in South Africa?
Do we file a return in Germany & South Africa?

My husband has been working in Germany since the beginning of 2013, and myself since March 2014.
We are in Germany for the entire time (visiting SA for maybe 1 month to 6 weeks a year).
We also pay for medical aid, and related German funds (church tax, solidarity tax, retirement taxes, etc)
We both have an Retirement Annuity running in South Africa too. ...

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2 requests to upload supporting documents - is that normal from SARS?

Posted 11 November 2014

I filed my tax and claimed for medical expenses - I had an operation I had to pay for privately. I uploaded the invoices upon SARS' request. They called me after about 3 weeks and asked me to further upload the receipts which I have now done. Will it take another 3 weeks for them to review the receipts?

Advantages of paying for own medical aid rather than employer's contributions?

Posted 11 November 2014

Is there any distinct financial advantage to paying for my medical aid on my own (therefore not involving my employer at all), rather than opting for my employer to contribute a portion (which would form part of my total cost to company)?

In both instances, the Total Cost to Company would stay the same - I understand that the contribution from the employer does not get deducted from the income earned and thus the tax on income earned stays the same, apart from the tax credit for independents. If this is correct, it would seem that the only benefits would be that the employee receives monthly tax credits rather than once per year. ...

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Reimbirsive travel allowance declaration for income?

Posted 7 November 2014

I would like to if, how do submit for taxable reimbursive travel allowance?

Depreciation claimed on my tax return?

Posted 6 November 2014

Can I claim depreciation on my laptop if it's older than 3 years and I haven't claimed before? If I can, how do I work out the depreciation value of the laptop? Thanks!

Where do I declare a secondary source of commission income in the ITR12 if the primary is on IRP5?

Posted 5 November 2014

I am an independent contractor operating out of a home office, and earned commission during the year from two sources, however only one of them deducted PAYE. That IRP5 is reflected on eFiling, however there is no section on the ITR12 to declare the second source of commission income. If I select the trade section of the ITR12 then I get a whole income statement to complete; if I do this must I include the IRP5 income as well? Also must I include all my expenses here or rather in the standard de...

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I need to add code 3701 and 3702 to my tax return

Posted 4 November 2014

Please make the below changes before continuing:You can't fill in the Travel Allowance section if your IRP5 incomes list doesn't contain source code 3701 or 3702.It is telling me to fix this but it does not say where I need to go to to correct this

Company taxing employee on company petrol usage?

Posted 4 November 2014

Hi Tim

My husband has started at a new company as a sales exec. He gets company petrol as a benefit and they've issued him with a company petrol card. However now I've noticed that they are adding the petrol useage to his earnings i.e. if his basic is R5000 they are adding R4000 petrol (varies every month) and then taxing him on R9000 gross instead of taxing him on R5000. They then deduct the R5000 off again but he's paying a lot of tax every month because of them adding in the petrol...

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