Written by Marc
Posted 6 September 2013
Written by Marc
Posted 6 September 2013
Written by Marc
Posted 6 September 2013
Written by Marc
Posted 5 September 2013
Hi Tim,
Last year (this financial year though) I left a job and had a settlement agreement with my ex-boss for outstanding monies for overtime as well as for medical expenses as a result of my work. We have had no contact since the settlement. When going to file at SARS I noticed he has included the full amount as income on my IRP5, where as only a small portion was for income and the rest to cover my medical bills. Am I correct in thinking that I am not liable for income tax on the S...
Written by Marc
Posted 5 September 2013
Written by Marc
Posted 5 September 2013
Written by Marc
Posted 5 September 2013
Written by Marc
Posted 5 September 2013
Written by Marc
Posted 5 September 2013
Hi Tim
I submitted my return via efiling on 16 August 2013 and received notice to submit supporting documents which I did on 21 August 2013. It was confirmed that the supporting documents were in order. On 3 September 2013 I received SARS correspondence for my attention on efiling. When I logged in my efiling status is "Correction filed" and the description of the letter is "Completion letter". The contents of the letter is as follows:
"Dear Taxpayer
VERIFICATION OF ASSESSMENT...
Written by Marc
Posted 4 September 2013
Hi Tim. I am about to embark on a new venture and start up my own business. We are bound by various rules and regulations as per the HPCSA and are only able to practice in an incorporated or solus practice. I am feeling very unsure as to which is the best option tax wise? The gross monthly income of the practice is expected to start off at and vary between R30 000 and R50 000 per month. I will not have any partners or permanent employees. I work from home 50% of the time and am onsite (travellin...
Written by Marc
Posted 4 September 2013
Written by Marc
Posted 4 September 2013
Written by Marc
Posted 4 September 2013
Written by Marc
Posted 4 September 2013
Written by Marc
Posted 4 September 2013
Written by Marc
Posted 4 September 2013
Living and Working in South Africa remotely to UK (IT).
Hi Tim
I lived in UK for 5 years and returned to SA in 2010. I have dual nationality (German and South African).
I have been working in SA for a local company since 2010 earning rands. I have now been approached by my previous employer in UK to work for them again remotely from SA.
If I am paid by them in pounds into my UK bank account where will I pay tax and will have have to bring in all my earnings to SA or can I only bring in what I need?...
Written by Marc
Posted 3 September 2013
Written by Marc
Posted 3 September 2013
Written by Marc
Posted 3 September 2013
Written by Marc
Posted 3 September 2013
It is apparent that there is a massive grey area when it comes to SARS interpretation on share investment vs share trading and the resultant taxation thereof.
I have a share investment portfolio (exceeding 3 years) and now also want to trade shares short term.These shares will include some of the very same shares that I hold long term in my investment portfolio. Can and will SARS accurately distinguish on an ongoing basis which shares I sell at any given time and tax me accordingly and correctly i.e. capital gains vs income? ...
Written by Marc
Posted 3 September 2013
Written by Marc
Posted 3 September 2013
Hi,I submitted my IRP5 for this year. After doing that I was given a penalty, because my 2007 and 2008 returns was not done. I paid the penalty and sumbitted all the outstanding years. I was told that they are busy with a assesment on my 2007 return. This is now going on for 2months. Last week I realized that I made a mistake on my 2007 return, and that is why they are busy with the assesment. I requested a correction and filed it.Now how long do you think it will take for them to finish with th...
Written by Marc
Posted 3 September 2013
Written by Marc
Posted 3 September 2013
Written by Marc
Posted 3 September 2013
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