Written by Nicci
Posted 28 January 2016
Written by Nicci
Posted 28 January 2016
I am an independent consultant. I have been operating since June 2015 and have been paying myself a salary and deducting PAYE
I have recently found out that I must be a provisional tax payer as well
Since I have started in June and have not deducted any expenses to arrive at my taxable income, it appears that with 2 months to go I have overpaid my tax significantly
from a cash flow perspective, I will only receive my refund around July/August
Am I able to not pay PAYE for the...
Written by Nicci
Posted 28 January 2016
Written by Nicci
Posted 28 January 2016
Written by Nicci
Posted 28 January 2016
Written by Marc
Posted 28 January 2016
Written by Nicci
Posted 27 January 2016
Written by Marc
Posted 27 January 2016
Hello TaxTim, for the tax year 2015 I completed my ITR12 through e-filing on the 26-11-2015, including my disability totals. The same day I received the ITA34 but not reflecting my disability & medical costs. I also received a letter to submit supporting documents the same day and did so on that same day. I also filed a NOO on the 10-12-2015 objecting the fact that they excluded the disability & medical claim/section, accompanied by the supporting documents. They send me an SMS that I have to pa...
Written by Marc
Posted 27 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
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!)...
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
According to SARS, "Deductions in respect of donations to certain public benefit organisations are limited to 10% of taxable income (excluding retirement fund lump sums and severance benefits)". Assuming that my taxable income is R100,000, I can donate a maximum of R10,000 to a qualifying 'public benefit organisation'. In my tax calculation, should I deduct that R10,000 from my taxable income, or from the amount of tax that I owe? If I can deduct it from the amount of tax due to SARS, the latt...
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 26 January 2016
Written by Marc
Posted 25 January 2016
Written by Marc
Posted 25 January 2016
Written by Marc
Posted 25 January 2016
I recently did my tax return for the first time as this is my second year been employed, my tax return showed -R2133 I was than asked for additional documentation I submitted my IRP5 and Medical aid certificate. After that I was selected for an audit and after about a week I received my statement of account but I still have not received my refund does this mean the process is complete? I noticed that on the statement of account under audit it says "yes". Whats does that mean and how long does th...
Written by Marc
Posted 25 January 2016