Can I complete tax return forms for the past 3 years?

Posted 31 July 2013

I have been working for government for 3 years already and haven't completed any tax return forms. Am I still able to do this for the past years that I worked?

No supporting documentation and previous tax year audits

Posted 29 July 2013

Hi TaxTim,

Two simple questions that I can't find answers to anywhere:

1. What happens if you cannot support expenses for a specific category on a tax audit for year that has already passed and been assessed (say audited for 2010/11 in 2013)? I.e. you lost an expenses file for the full 5 year tax period, and only have partial records via bank statements?

2. How likely is this scenario - i.e. SARS randomly auditing for previous tax years. I.e. during the 2013-14 tax year are you at risk of being randomly audited for the 2011-12 tax year?...

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I'm non-resident in RSA but pay PAYE i.r.o. my Living Annuity

Posted 24 July 2013

My wife & I left RSA in 2011 & living in Namibia (we're awaiting permanent residence approval).
I receive a pension from Glacier (Sanlam) & they deduct PAYE. We also earn interest from ABSA in RSA & from Bank Windhoek in Namibia & from my son in Namibia. Do I have to submit tax returns in SA?

What happens if one does not submit tax returns for a long time?

Posted 24 July 2013

I have a friend who says he thinks he has not submitted for about 15 years, but now he wants to come clean.

Section 24J - Accrued Interest

Posted 23 July 2013

Mostly interested in understanding how the accrued method works. When is interest reported to SARS as accrued, and how can I be sure my bank is reporting correctly?

How does the rental tax on a first property, paid in cash, work?

Posted 23 July 2013

I currently live with my parents, on their property. I am looking at purchasing an apartment for R650 000 and renting it out. I have been given the option of paying for this in cash and then paying my family back at their low bond rate of 6.5% (prime -2%).

The property will be rented out for R5500. The expenses on the property (rates and levys) are R1800. So the rental income would be R3700pm. This R3700 as well as another R4300 will be paid monthly to my parents (total R8000pm).
...

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Starting with tax

Posted 22 July 2013

Hi Tim, We are two employers that works in a small company, and after one and a half years we found out that our employer did not pay or fill out the necessary documentation for our tax. We would like to sort this out ourselves as soon as possible - where do we start? Will there be any penalties? How can we work out what this will be? We both started working for the company after University. Personally I break even every month after medical aid contributions, student debt, rent etc. My co-worke...

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Which receipts to be submitted?

Posted 18 July 2013

What type of invoices and documents are supposed to be submitted with IRP5?

Tax Return - when I must I submit?

Posted 14 July 2013

I'm getting confused with regard of submiting tax return. If you earn more then R63556 you to submit your return and on the other side if your remuneration is R250000 you may not subtmit a income tax return. Can you clarify that for me please?

Maunual intervention on assessment?

Posted 14 July 2013

What does it mean when sars says that the assessment needs manual intervention (2007) and how long does this take?

Also I have to pay a penalty, do I pay after intervention? Or will they deduct penalty from my return?

How will I know if SARS audit is complete?

Posted 11 July 2013

I have submitted tax returns for 2011, 2012 and 2013 to get it all up to date. 2013 was not audited and they owed me R3600. 2011 and 2012 I was also owed money, but had to submit supporting documents as they had doubled the medical aid amount for sum reason. The Status says the documents have been received but take up to 5 days to be assessed. Today I received a Refund of R600 and they took R3 000 as an Admin Penalty Fee. A bit extreme as I had received a letter saying the penalty fee would only...

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Where on my return do I fill information in with regard to my IT3b?

Posted 11 July 2013

I have an IT3b and do not know how to file this info on eFiling?

What to hand in?

Posted 11 July 2013

What else should I hand in to accompany my IRP5?

Can a wife claim on her late husband's tax?

Posted 9 July 2013

When a spouse dies (it was after the tax year), is the spouse entitled to claim this? If so, would it need to go through the estate or would it go directly to the spouse? This with being married "in community of property"

I am part of a CC and I work for another company as well, what are my tax obligations?

Posted 9 July 2013

I am part of a CC and work for another company as well, what I would like to know is, when I do my tax return it asks me if I am a member of a CC and then asks me for my personal assets and my interest in the CC, Could you please elaborate on this, as I don't know how this affects my return.

How do I submit a nil tax return via eFiling as no longer resident in South Africa?

Posted 9 July 2013

We have been living in Australia since 2011 so are non-residents in South Africa for income tax purposes. We are registered tax payers in Australia. When eFiling and creating my ITR12 SA tax return, do I click yes to the button saying that I have been unemployed so that I can create a nil return? Can I do this each year? Do I need to declare interest of R300 earned in South Africa - I have already declared this in my Australian return.

If my provisional tax return is a zero, must I still complete the IRP6?

Posted 8 July 2013

As a member of a CC I paye fixed monthly PAYE and all payments are always 100% up to date. I submitted my 2013 tax return and IT34 tax assessment is -R1 (SARS owes me). On the same assessment is also a penalty of R 2,288 for not submitting provisional tax. Surely this cannot be right. Must I object Hasn't SARS issued a statement confirming that you're only obliged to submit a provisional tax return if you are indeed liable for provisional tax?

Disclosure (Forex, shares, unit trusts)

Posted 8 July 2013

Is there a need to disclose that I trade forex online even though I am sitting on a loss?
Is there a need to disclose for this assessment period that I had share investments and unit trusts, I disposed all shares and part of the unit trusts end of March i.e. outside the current assessment yr. after holding them for less than a year (wedding expenses over budget)?

If l'm working for construction and don't get the IRP5 what must l do?

Posted 8 July 2013

I've been working for construction companies from 2002 until now 2013 but l haven't received any IRP5,now l don't know if its too late or l can still claim my tax refunds from SARS?

How do I edit/complete an incomplete form?

Posted 7 July 2013

How do I edit/complete an incomplete form?
I want to add information I left out on the questionnaire.

Can I deduct car finance payments for tax purposes against a travel allowance?

Posted 5 July 2013

I do not lease a car, but I receive a car allowance. Can I deduct my car finance payments or the interest?

Is the R3 700 exemption for foreign dividends and interest still available for 2013 tax year?

Posted 5 July 2013

Over 65's have an exemption of R33000 on local interest earned. A portion of this exemption (R3 700) was allowed for foreign dividends and foreign interest in 2012 tax year. I am not sure if this still available in the 2013 tax year?

What must I do or what is the next step after receiving a letter(completion letter) from SARS?

Posted 4 July 2013

I filed my taxes and documents were requested by SARS which I sent through. I received a letter called a completion letter. THis is what the letter says " Dear Taxpayer

VERIFICATION OF ASSESSMENT

We refer to the verification of your assessment for the 2013 tax period. Please note that no adjustment has been made to this assessment. However, in terms of the Tax Administration Act the South African Revenue Service reserves the right to conduct further reviews in future if required....

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My Old Employer's Accountant is refusing to issue me with an IRP5

Posted 4 July 2013

My Old Employer's Accountant is refusing to issue me with an IRP5 based on an old salary dispute. How should I handle this? It has been submitted to SARS as the information appears on my ITR on E-Filing. I'm scared to submit the return without having the IRP5 incase I get audited. Help!

Do I still have to register with SARS and fill in a tax return?

Posted 4 July 2013

In 2012 I was paying PAYE, I got an IRP5 from work but did nothing with it as I didn't know what it really was. Then in February 2013 they raised the threshold and I no longer earn enough to pay tax. Should I still fill in a tax return for 2012? Will they charge me late fees for this?
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