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PAYE vs Provisional tax for a member of a CC

Posted 23 May 2016

I am a member of a CC and have 80% interest in the company. I run the operations of the company and have been paying myself salary. The company never registered for PAYE as I was paying provisional tax and I was the only one earning a salary. Now the company is hiring more people and we have registered for PAYE/UIF. DO I carry on submitting provisional tax instead of PAYE or do I cancel Provisional tax and start paying PAYE. If I don't register for PAYE, what can the company provide me with to p...

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2014 Tax Deductions Not Claimed

Posted 19 May 2016

A few years ago (in 2013) when I submitted my tax returns I omitted to claim for a large amount of medical expenditure. Can I rectify this situation, or, is it too late?

International transfers and disability income taxed in the UK

Posted 12 May 2016

I am living abroad and get a disability income from Discovery Life every month paid into my South African account. If I want to transfer the money over a UK bank account, how do I do it? Also, are there tax implications in the UK then as well as South Africa when bringing it in?

Can I claim for medical expenses?

Posted 10 May 2016

Went on early pension at age 55 December 2014 after working for 27 years at the Goverment. Receive every month a pension amount. Can I still claim medical costs paid by me.

Medical deductions

Posted 5 May 2016

I am not the policy holder or on the policy as the dependent, however I pay for the contributions in full from my bank account. It is my parents medical aid policy. Can I claim from SARS for this expenditure? If yes, what information would I need to support this claim from SARS?

tax refund and deductions

Posted 4 May 2016

Hi I have never submitted anything for tax so need to find out if there is something to claim I've been full time employed from 2007 and never submitted anything should I have done and what is the procedures, I do pay tax on my payslip and pay half of my medical fund?

How much will my tax refund be?

Posted 3 May 2016

Joe turned 65 in June 2015. He earned R240 000. 00 during tax year, and there was no other deductions from salary. He contributed R6 000. 00 during the year to private medical aid. And R30 000. 00 of other medical expenses. What is the amount he can claim on his tax return.?

How to treat NHS contributions made in UK on my SA tax return

Posted 2 May 2016

I was employed in the UK for 3 months during the 2016 tax year and had to tax return to SA for personal reasons. I do meet the physical presence tests for purposes of being taxed in SA on my income received in the UK. But, my question is whether I can take the NHS contributions made in the UK as an additional foreign tax credit against my taxable income when doing my 2016 SARS tax return? Both tax and NHS amounts were deducted from my UK salary but I haven't been able to claim back anything from...

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Does SARS pay interest on refunds due?

Posted 2 May 2016

Interest payable on refunds:

I objected against admin penalties incorrectly charged and I am due a refund of R18,000
I objected against a incorrect tax assessment medical expenses not allowed refund of R9,261
I overpaid assessed tax by R7,000

Will SARS pay interest on these amounts owing to me? The admin penalties was initially taken from a refund due to me so they had already been paid.

deductions on salary increase

Posted 29 April 2016

My company would like to offer me an increase. I have the choice of a straight bump-up or I can choose if there are specific benefits I would like that will have a benefit for me (additional money in pocket) and that will be beneficial for them (perhaps less tax they need to pay). I earn a straight salary without any travel allowance or any other benefits that is deducted. Please advise on what would be the best for me and for them?

Independant Contractor - deductions

Posted 28 April 2016

Can I, as an independant contractor, pay my unemployed spouse a minimum wage salary and deduct this from my monthly taxable income? I do have a payrol service provider and get issued a payslip with my income, travel allowence, UIF, medical aid and Tax after the deductions from them on a monthly basis.

Medical deduction

Posted 26 April 2016

I paid for the medical fees when my girlfriend gave birth to our son, I'd like to know if a can claim it back form SARS. She doesnt belong to a medical aid

Medical expenses on chronic medication

Posted 26 April 2016

Are payments by Medical Aid Funds for medical expenses incurred ( eg. Chronic medication) on behalf of a member treated as qualified medical expenses

PAYE due on my salary

Posted 22 April 2016

I'd just like to know if the correct amount of tax is being deducted from my salary monthly. My gross salary is R45900
My employer pays my full medical aid contribution of R7254
I contribute from my salary towards a provident fund, an amount of R2754

Could you please advise how much of tax I should be paying monthly?

Thank you

Full time salaried employee or Independent Contractor?

Posted 21 April 2016

I work part time ad hoc shifts as a doctor at a private hospital, where I am paid an hourly rate and my hours of work are between 0 and 30 a week. In terms of tax deductions (specifically MPS - medical malpractice insurance, travel expenses, training course fees); would my work be classified "full time salaried work"?

I understand this is important in terms of which items one can claim back.

How to reflect the employer medical aid subsidy

Posted 18 April 2016

Kindly advise if I have a medical aid and it is paid from my salary by my employer, whether the employer subsidy can be added with the medical tax credits under code 4116?

Spiritual Counseling outside of medical aid

Posted 13 April 2016

As a Spiritual Counselor who has a BA in Counselling, but who is not registered as a health care professional with medical aids, as it is more a spiritual than medical. I have clients who would like to know if they can add my receipts to their tax claims at the end of the year. When the Spiritual Counselling was removed from the medical claims alot of clients do not want to go to conventional psychologists, but prefer continuing with me. Can they claim from SARS like their fuel log books? Is there a way so that clients can claim tax returns? ...

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Are you taxed on medical benefits from employer?

Posted 5 April 2016

1. I would like to know if the medical aid contribution benefit from the employer is also taxable?
2. Are you taxed on salary or total earnings?
3. When does the tax period start and end?

SARS mistake or are refunds done per assessment

Posted 5 April 2016

I was audited and asked to submit supporting docs for logbooks, vehicle ownership/invoices and medical expenses. My assessment was calculated at R49k refund initially. When submitting medical exp I realized I had entered some expenses incorrectly so made changes to the ITR12. This resulted in a refund of R58k. In the new assessment SARS deducted the R49k under source code 4102 in the line "Previous Assessment Results", with net refund of R9k. Will my refund be both assessments ie R59k or are the...

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What is the PAYE on my salary?

Posted 4 April 2016

Tax payer is turning 65 during 2017 tax year end. Employer pays 3% provident fund and employee pays 6% per month. Employer pays 50% of medical aid, employee pays 50%. Cash component is R35,500, provident is R2,136, paid and R1,068 by employer. Medical aid is R3,918 each way. Need to know what tax to be paid per month?

What are the SARS obligations and benefits for a taxpayer aged 74 years for the 2015/2016 tax year?

Posted 29 March 2016

With regards to your post of 23 July 2012, about retirees aged 65 years and older: have there been any changes since then in SARS requirements for tax returns for the 2015/2016 tax year, or not? What benefits can such a taxpayer expect? What is the taxable threshold for a taxpayer 74 years of age (turning 75 in June 2016)? Where do donations fit into all of this?
1. Main source for living expenses is interest income. 2. Medical aid premium is paid by the retiree in full, in addition to medical expenses which go beyond medical aid benefits. ...

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Are bond initiation fees, legal fees and valuation fees deductible for tax?

Posted 23 March 2016

Hi, I have registered as a provisional tax payer and did my tax return in August. My rental expenses (levies, interest and taxes) are greater than my rental income I earn. Do I still need to file the provisional tax payer tax return now and see if any payments are due?

I have paid for your services for my personal income tax, but haven't received any of my tax information yet (for investments, medical aid etc). Must I just wait until those all come later in the year and send them thro...

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Medical Aid and Pension contributions on IRP5

Posted 22 March 2016

I struggle to understand how the (The total deduction - code 4497 on IRP5) is calculated. I have a medical aid fund, pension fund and retirement annuity. My employer (the church) is contributing to all three of these funds. This question is for the 2016/2017 tax year with the new T-day implications. In the income section, the following IRP5 codes are used. (This I understand)
3810 - Medical aid benefit
3817 - Pension fund fringe benefit
3828 - RA fringe benefit

In the deductions/contribution section. These are the only items Payroll shows. ...

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MEDICAL TAX REBATE REFUND

Posted 22 March 2016

IF YOUR PAYE CONTRIBUTIONS EXCEED THE TAX PAYABLE WHICH MEANS YOU ARE DUE A REFUND DOES THE ANNUAL TAX CREDIT R257 PER MONTH TIMES 2(taxpayer and spouse) times 12 ( R6168) INCREASE YOUR REFUND FROM SARS?

Meaning of medical aid 4005?

Posted 21 March 2016

What does medical aid source code 4005 mean?
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