If I am a Sole Proprietor earning less than R59 750 for the tax year, am I a provisional taxpayer?

  Written by Marc   Posted 20 February 2013

I am a Sole Proprietor (offering consultancy services) who is earning less than R59 750 for the tax year. I'm not sure if I should be registered for Provisional Tax and filing IRP6s or not?

I've paid my provisional tax over to my accountant, what is the next step?

  Written by Marc   Posted 20 February 2013

So is he doing my tax return or must I do my own tax return?

How can I account for a lost laptop?

  Written by Marc   Posted 20 February 2013

I've just started up as a sole proprietor and would normally depreciate laptops etc over 3 years. However, this year I lost a laptop that was not insured, and had to replace it. Can I write off the full cost of the lost laptop in this year? If so, would this still fall under depreciation?

What tax do I pay, PAYE and UIF, to get a net of R6500

  Written by Marc   Posted 20 February 2013

PAYE
UIF
Tax

Moving to UK but still be paid by my company in SA, what is the process?

  Written by Marc   Posted 19 February 2013

I have a SA Company that is a Pty Ltd. We do various websites. We receive monies though debit orders from customers that list on the sites, all South African. My wife and I are both directors and the only employees.

We are thinking about moving to the UK and trying to find out who we would then pay tax to, SARS or UK on our salaries each month. We would be living there permanently with maybe a holiday each year to SA for a week or two.,

I have had conflicting answers to this question from SARS and HMRC and not to mention my accountant and a tax consultant that I called....

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Where must I claim tax back from?

  Written by Marc   Posted 19 February 2013

Where must I claim my tax and where can I get the IRP5?

I would just like to know about claims not covered by your scheme?

  Written by Marc   Posted 19 February 2013

I want to know, people say that SARS don't allow medical claims if its not on a prescription as from 2012 tax year. Is this true or can i still claim back my medical expenses that I bought over the counter. Other words my self medication (eg. panado's, rinex etc) that was not on a prescription from the doctor?

I am stuck on the provisional for 2013, what do I need to do?

  Written by Marc   Posted 19 February 2013

Apparently I have to submit a something by end of feb. I had a permanent job up until August 2012 and thereafter earned money as a sole prop. I dont know how to add the two together surely my ex employer should have submitted a doc for me because I was just PAYE even though I had a provisional tax number.

Unwanted ITR12?

  Written by Marc   Posted 18 February 2013

My application date was 2011-05-30, but for some reason they set my year of liability to 2011, so now I have an ITR12 for TaxPeriod: 2011, but I wasn't earning in that tax year. Should I just file an empty return (tick the "Were you unemployed for the full year ..." checkbox, or should I contact them and ask them to remove it?

How is PAYE tax calculated when employed by 2 separate employers?

  Written by Marc   Posted 18 February 2013

Is tax calculated individually per employer or combined?

Additional income, how do I show this on my tax return?

  Written by Marc   Posted 15 February 2013

I am a pensioner with a pension below the tax threshold. However I have additional income from a part time job. Must this amount be added to my pension (which is then taxable)? How do I calculate the PAYE that is then payable?

How to Calculate: Property Income tax?

  Written by Marc   Posted 15 February 2013

I want to know how to calculate the amount of tax that I need to pay SARS if I am renting out my property.
* I have a bond on the place that need to be paid back to a bank.
* Paying more on the bond than receiving rent.
* Paying levies on the place.
* Paying Property tax.
* Paying maintanace on the property.

How can I calculate what to pay SARS for the property income?

How is the Medical Aid Tax Benefit Calculated?

  Written by Marc   Posted 15 February 2013

I joined a medical aid during the tax year, which cost me R 2000 per month. I know that the medical aid tax benefit allowed is R 230 per month. Will I be allowed to claim 12 x R 230 = R 2760 for the year, or may I only claim (number of months that medical aid was paid) x R 230?

What is the difference between a Company vs CC for tax purposes?

  Written by Marc   Posted 15 February 2013

Kindly assist me. From a tax perspective, which is the better option to open, a company (Pty Ltd) or a CC?
Is it better to purchase a shelf company or CC or to register it self? (I'm aware that you can't register CC anymore) To amend all the details of shelf company to yours, won't it be more expensive at the end of the day?

ITSA Statement of account, what does it mean?

  Written by Marc   Posted 14 February 2013

I just want to know if alld admin penalties and outstanding amounts payable to SARS are included in this statement of account? Because I haved received a AP34 aswell.

Want to pay my provtax. From FNB Where do I do it?

  Written by Marc   Posted 14 February 2013

Where do I pay Prov via Internet?

Part-time accounts clerk - what are the tax implications?

  Written by Marc   Posted 13 February 2013

We just hired a junior accounts clerk to work 5 hours a day at R50/hour, 5 days a week. Hence, 100 hours a month.

I would like to know what the tax implications will be for this person due to the fact that he won't work full day. He is on 'probation' for at least 3 months with us.

I have queried a couple of people regarding the preparation of the agreement/contract whilst doing the research online. I am also currently finding how to categorise him on Pastel Payroll from Pa...

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If an employee earns less than R50 000/ R60 000 per annum, do they qualify for a income tax number?

  Written by Marc   Posted 12 February 2013

This question is required for work purposes including employees needing to register for income tax urgently.

If you stay out of country for 183 days, 60 days consecutive, can you apply for a NIL percent tax?

  Written by Marc   Posted 11 February 2013

A directive that no tax is being taken off from your salary? As far as I am aware the lowest percentage directive is 18%. This person only comes to SA for holidays. I was informed that there is a NIL directive but not according to SARS???

I need to find out what is my tax number?

  Written by Marc   Posted 11 February 2013

I need to sumbit my tax number to HR

Pay yourself a monthly salary or pay income tax on profits?

  Written by Marc   Posted 10 February 2013

My daughter has a internet buying and selling business. It is making good profits and she wants to know whether she should take those profits out as a regular monthly salary and pay PAYE or leave it as profit and pay income tax at the end of the year on it. She is operating as a sole proprietor from home.

Tax on Foreign Income

  Written by Marc   Posted 10 February 2013

Hi Tim,I've got a new contracting job where I'll be working from SA, but I'll be paid from the UK. How do declare/pay my taxes on these? And do I have to transfer all my funds back to SA?

Are bank statements proof?

  Written by Marc   Posted 10 February 2013

SARS refused ALL my expenses! Now they want proof of payments of my expenses. I keep all my bank statements as it is easier to do my return and no invoices go missing. Will they accept my bank statements?

Asset depreciation in first tax year

  Written by Marc   Posted 10 February 2013

If I registered for tax for the 2012 tax year, does that mean that I can't claim asset depreciation in that first year, since the calculations are based on asset usage in the previous year (when I wasn't utilizing the assets for work purposes)?

As a Sole Proprietor - do you need to do annual returns on profit, AND monthly PAYE?

  Written by Marc   Posted 10 February 2013

If you are drawing a monthly salary from your business being a sole proprietor should you be paying monthly PAYE, as well as company tax on the annual profit? Or should you not be drawing a salary and only live off the profit of your company, but pay annual taxes on the profit?
Also if so, is this provisional tax or annual tax?
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