What does it mean? Please note that no adjustment has been made to this assessment

Posted 7 December 2015

Hello Team,

I got a response stated below against audit of my tax return, could me please assist to understand the response? Am I going to get my refund as per the submitted tax returns or not?

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We refer to the verification of your assessment for the 2015 tax period. Please note that no adjustment has been made to this assessment. However...

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SARS claim while unemployed?

Posted 7 December 2015

I am currently unemployed and heard that I cam claim from SARS regarding tax paid thus far

Too many documents

Posted 7 December 2015

SARS has provision of submitting 20 documents only and I have more than 20 documents. SARS doesn't accept excel with more than 1sheet. I have bank statements, receipts, excels with car logs, medical expenses, donations, depreciation, donation and medical certificates, monthly credit card statements. Please suggest how to submit documents. Thanks

Medical expense claim from SARS?

Posted 7 December 2015

I tried to claim for medical expenses that I paid out of my own pocket but did not receive rebate, instead I have to pay SARS?

Tax return question

Posted 7 December 2015

If you pay medical aid close to R4k out of pockets, and within a tax year you have incurred additional medical cost of about R15k, you have monthly RA of R1k... And you still contribute towards your employers RA. How much roughly would one get for tax returns

Can I claim for Medical Aid and Provident Fund contributions at the TAX year end?

Posted 7 December 2015

In my new job I am getting a CTC of which only income TAX will be deducted. Previously Medical Aid and Provident Fund was deducted from the CTC then the remainder taxed, as a result I paid less TAX. In the new job I will have to pay med aid and provident after my income has been TAXED. Will I am be able to claim at the TAX year end for this?

Will I be able to get the same amounts as if the amounts where being deducted from the CTC before being TAXED?

Still waiting for tax refund

Posted 4 December 2015

It is more than 7 days now still waiting for my tax refund, is there ant problem with my tax returns?

I'm due for a refund but still owe SARS...

Posted 4 December 2015

I'm due for a refund but there's a 'hold-up' as I owe SARS something from 2009. I'm not sure what to do fro this point forward - where or how do I find out what is owed - how can SARS be owing me when I owe them - why weren't there red flags or bold flashing print popping up when I completed my annual tax returns?
It's like they're hiding the fact that I owe them and I've now probably encured some hefty penalties and interest... ;(

What do I do?

Provisional tax or starting a CC?

Posted 4 December 2015

I am currently employed by a company and earn a fixed monthly salary. I have however started manufacturing and selling goods in my private capacity, completely separate from my company. A typical order would be to the value of R20 000 (turnover), with a total cost-of-sale of R10 000, leaving me with R10 000 profit. I can receiver anywhere from three to twenty orders in a year, with no guarantee of regularity. I have two questions:

1. Do I need to register as a provisional tax payer, or would it be more tax-efficient to register as a sole proprietor or a cc, taking into account the administrative time and costs (paying an accountant etc. )?...

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Can I claim back on disability for my child attending a remedial school?

Posted 3 December 2015

My child attends a remedial school which was recommended by a psychologist. Can I claim back on these fees as a disability?

Loan to Company to purchase goods

Posted 2 December 2015

I have a EME business and from time to time I use my private bank account to purchase items for orders I receive. When I then get paid by the customer I just transfer the money I loaned to the Business beck to my private account. Is that acceptable to SARS and what records must I keep?

Med Aid claims

Posted 2 December 2015

I am 74 years old. What out of my own pocket medical expenses can I claim?

Payment Periods

Posted 2 December 2015

With regard to Provisional Tax:When SARS refers to the periods 2016-01 and 2016-02 (see below) is SARS referring to the months i. E 2016-01 = January and 2016-02 as being February or are they referring to the two payment periods for Provisional Tax being February and August? Could you please explain. 5. 3 Provisional Tax Returns can only be requested for periods that fall within:
ï%u201A· The current period
ï%u201A· The current periods minus two periods
ï%u0192º Example: if the current period is 2016-01 and 2016-02, IRP6 forms can be requested for the periods 2015-02 and 2015-01. ï%u201A· The current periods plus one period...

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Tax for a full time student employed full time.

Posted 1 December 2015

Hello Tim,
If I earn R8000 per month and are registered as a full time student but also employed full time and at a permanent post at my employer what will my tax be per month?

Does provisional income/ capital gains count towards income iro RA contributions?

Posted 1 December 2015

I own a business and I draw a standard non- pensionable salary of R1 440 000 (120K p/m). I pay R360k (30k p/m)to an RA. Which means I actually don't earn enough to achieve the max tax destructibility for my RA. However this year for the first time I have other income from share sales (my share trading G&L statement currently reflects a gain of 264K). Will this income add to the non-pensionable salary above and thereby reduce the disallowed portion of the RA Contribution?

Will I be penalized for not filling in a tax return for last year and this current year

Posted 1 December 2015

I have been working for 2 years now, I started 3 December 2013 and I never filled in a tax return before. I only became a permanent employee 1 April 2015 and only then started contributing towards a medical aid and pension fund. I have missed the 27/11/2015 tax return deadline. I am not sure how this whole process works. Will I be penalized for not filling in a tax return for last year and this current year. I will be more than happy to pay for your services. Regards

Medical rebate not given by SARS

Posted 1 December 2015

My company paid medical premium for me for the period 1st Mar 2014 to Feb 2015. For first half of the year it was with one medical vendor and then for the second year it was with a another medical vendor. I filed my IT tax returns on time. I got an additional assessment wherein SARS has not taken one medical vendor and I stand to lose out around R5000. How should I dispute and in the notice of objection form where do I fill the exact details as it is asking for source code?

Why is it taking so long to receive the pay out, is there something I missed ?

Posted 1 December 2015

I submitted my tax return via SARS eFiling and received the ITA34 - and notifications saying that SARS owes me. I submitted the tax return on the 25th. People have been saying it takes between 2-3 days to receive a pay out and SARS sends a sms or email to say when the money will be paid. How come I have not heard anything yet?

How much will I get from a salary of R2361 in a year

Posted 1 December 2015

I want to know how long it takes to get ur income tax return and how much will it be if my salary is R2361 a month?

Can I get my refund even if I submitted my returns late?

Posted 1 December 2015

I submitted my tax returns late and the tax calculator showed that I have a refund. Will I still get the refund even when I submitted late?

Does Base Cost include interest over time?

Posted 1 December 2015

I am selling a rental house. Will the interest on my bond over the period of ownership be part of the base cost?

Is it a must to register at SARS?

Posted 30 November 2015

Is it a must that each and every person must register to SARS when they are employed?

Can employer deduct medical tax credits from employees tax but the employee is paying the medical ai

Posted 30 November 2015

Employer pays a basic salary to employee of R28 000,00 per month. There is no fringe benefits. Employee pays a medical aid scheme for himself his wife and 4 children. Employee shows proof of his medical aid to employer. Can employer deduct the medical tax credit of R1264 from the monthly employees tax. That is R5171 less 1264 =R3907. And then when doing the employers recon the IRP5 will only have the earnings of R336000,00 (under the 3601) and employees tax R46884 and no other codes except for u...

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Move from a Tax Consultant

Posted 30 November 2015

I am at present using a tax consultant. How do I transfer to doing my own tax return with the help of Tax Tim?

They have all my records etc.

I would like to know what is IRP5 is?

Posted 30 November 2015

I just want to know what is IRP 5 CERTIFICATE FOR LUMSPSUM. Ian if the say gross lumpsum is 7500 what that means. Can I get the best explanation please. Thnx
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