I am sharing a secretary between me and a colleague. We are working in the same office. We pay her a total of R8000 p. M (R4000 each). Obviously PAYE should be deducted based on her total yearly income (R96000) and paid to SARS before the 7th of each month. Is it fine for me and my colleague to split the PAYE and UIF contributions and pay those separately to SARS, and issue her one payslip between us? If so, does she need two IRP5s issued?
I owned a business for portion of the year and made drawings from the business. Then I leased out my business for the remainder of the year and received rental. Do I fill out an ITR12 tax return. If not, what form do I complete?
I own a micro business (a company) that's registered for turnover tax. Up until this point I have had no employees so I didn't register for PAYE, UIF, SDL, ETI, etc. Recently I hired my first employee. This employee earns R3500 p. M. So she won't be paying any income tax. Do I need to register her for PAYE, UIF, SDL and ETI even if she falls below the tax threshold? She is 21 years old and meets the requirements for ETI. If I need to register her, how do I do it? Can I benefit from the ETI?
I am looking at going to teach in Abu Dhabi but I really don't understand how the taxes work while I am overseas. I don't know when if ever I will tax return other than for a holiday. Please assist me in this as I don't know what to do with regard to planning. Thank you
I have a retirement annuity with Momentum. I only pay R500 a month and want to know on the day I retire if 2/3 will have to be reinvested in a annuity (to pay me interest every month) or if there is a certain threshold whereby I get 100% out on the day I retire?
On SARS website the use the wording "annuity interest lumpsum" which tells me its on the "interest" part on where you might get something back.
Will be registering with SARS for income tax this coming week. Doing a temporary job for January and February. 1. The business owner is telling me that will deduct 25% from the amount agreed, although for the two months (Jan and Feb) the total amount will be below the annual tax free threshold (R73 650) Is this correct?
2. Will I be able to recover all the TAX, which will be deducted, when I submit the tax return for 2016? (the actual amount is R63K and my tax will be friken R15 750 in total!)...
I got an sms from SARS saying that I owe them R5500. When I queried this,,my accountant said that SARS registered me as a provisional taxpayer, which I am not. I have a small private business in the health industry and the only other income I have is my son's maintenance from his father. How did this happen? And how can I deregister as provisional taxpayer?
Marginal tax rate: Is a person who is taxed at 41% actually taxed at 41%? Because of the fact that there is a primary rebate of R73,650 the tax payer is not taxed on the full amount at 41%. Thus the effective tax rate is less than 41%. Is this correct?
I would like to know if I must register for tax? I do temp work for a company, one month I'll earn R5000. 00 and a other month I'll earn R300. 00 or I won't earn anything. Some months. There's not always work so I Just go in whenever there's work. Do I still have to register?
In 2012 the Min Fin announced the lotto winning excess of 25000 is taxable. On enquiry I was told the this was not promulgated yet so as of today lotto winnings is not taxable? is this true and if not, how do I pay the taxes and how much?
I am an employee earning R4100 a month, that is less than R50,000 per annum, do I need to pay tax? If no, what happen to the company that deduct tax to the employees? What must I do to get that money back?
I've only worked 4 months of the 2015 tax year. Am I correct in saying that one does not need to pay tax if the yearly income is less the R80 000. My earnings for the year before tax if R68 000. So am I correct in saying that if I don't work for the rest of the 2015 tax year, I will get the tax I paid to SARS back?