Work over Internet and want to pay taxes! How?

  Written by Marc   Posted 28 January 2013

For the past 5 years I have been doing work over the 'internet' for an international company. Only now I have become aware of having to pay taxes. I am not registered. For the last 2 years I've received a steady income of R6 000 / month. I don't have a physical address or contact number for the company as we communicate through email. The company email me sketches of a building then I create a 3D model of the building and send it back.
How will paying taxes work for me ? Will there be pena...

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Do I need to submit deductions if total income is less than tax threshhold?

  Written by Marc   Posted 28 January 2013

Over the past years I went to great lengths to work out all my expenses for my provisional Tax return for my small, part-time therapy business and renting out a small flat. Do I really need to do this even if my total income does not reach the tax-threshold? This question still pertains to last tax-year (ending 28 Feb 2012),

Am I entitled to claim home office expenses?

  Written by Marc   Posted 27 January 2013

- I am a web developer.
- I use a separate room (a study) for work.
- My earnings are *not* commission-based.
- I pay rent for the study (to my parents)
- The study (and the PC etc.) is used /- 85% of the time for work purposes (therefore technically not "exclusively")

The requirements are very gray. Firstly, why must it be commission-based income? Secondly, why must it be exclusive-use if I could simply calculate business-use as a percentage? (for example, if I p...

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Statement of assets when married out of community, but with 50/50 primary residence

  Written by Marc   Posted 21 January 2013

Interested in how to represent the primary residence assets amount on the ITR12, statement of local assets and liabilities, if:

Married out of community of property, with accrual
Purchased a house with the wife 50/50, therefore in both our names

How do I go about starting a business?

  Written by Marc   Posted 16 January 2013

Morning... I'm thinking of starting my own business - what should I do first? How much must the business earn per month to pay tax?

Tax refund/rebate dating back to about 7 years

  Written by Marc   Posted 13 January 2013

I have heard so many great things about you, I hope you can assist me too. Until today, I was not aware that one can actually contact SARS directly to enquire about a possible refund. I have always been under the impression that they would contact or notify the taxpayer and then mystified when they actually did not.

My tax documents are always submitted automatically by my employer. I finally dragged myself to the nearest SARS office and registered as a tax payer in 2010. Now, my que...

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What is the difference between a levy and tax?

  Written by Marc   Posted 12 January 2013

What is the difference between a levy and tax?

Is the sale of a business taxable?

  Written by Marc   Posted 7 January 2013

If I were to sell a business, would I pay tax on the sale price? and if appropriate, how would this tax be calculated?

Is a sale of software, IPR or patent considered a capital gain?

  Written by Marc   Posted 3 January 2013

Dear Tim,
Me and my wife have been developping few software packages for years.
Now we have a client that wants to purchase them.
1. Is the sale of the software and/or IPR and/or a patent considered a capital gain?
2. Is it is a capital gane, can we sale those in our private capacity?
3. How if this taxed in case that we receive 200k per person each year for a period of 5 years?

Thank you

Was I qualified to pay tax return in 2007-2008?

  Written by Marc   Posted 21 November 2012

I never submitted my tax return for 2007-2008. At that time, I was earning R69000 per annum. Also the tax return was done manually and unfortunately I can't find any copy. Now in 2012, SARS wants me to pay R8000 penalty.

My questions are:

1: was I qualified to pay my tax return?
2: What must do to dispute this penalty as I am not earning much currently?

Thanks in advance for your advice.
Ps: I am a permanent resident(SA).

I am from the UK, but will get permanent residence in SA, but I have money overseas, will I pay tax

  Written by Marc   Posted 20 November 2012

If i bring funds into SA and earn interest do I have to pay tax on it, what is the free allowance and then how much is it thereafter please?

I submitted my IRP5 and received an SMS saying account balance: -12000. Selected for audit.

  Written by Marc   Posted 19 November 2012

I submitted my IRP5 at a SARS branch in Joburg and I received an SMS saying
Tax return assessment result: R-12000. Acc bal:R-12000. Selected for audit: Yes.
What does it mean?

How much can I deduct for expenses from money I earned in Saudi Arabia?

  Written by Marc   Posted 16 November 2012

Hi, I taught a two-week course in Saudi Arabia, and they paid me straight into my bank account. Do I have to pay taxes on the full amount, or is there some fixed amount per day I can deduct for expenses?

I have a Q about retirement annuity deductions against tax?

  Written by Marc   Posted 12 November 2012

How does the Chief Thief calculate my deductable amount on 'current year' RA payments (code 4006)? I entered an amount on my tax form and they calculate a LARGER amount, how is this possible?

Are there penalties on incorrect information?

  Written by Marc   Posted 8 November 2012

Hi, I mistakenly did not pick up my medical payments deducted from my salary as a 'tax perk' which therefore adds to my taxable amount. I now have to pay in more tax after I have already completed both provisional tax forms, only to discover this now when I must submit my ITR12 now in November. Are there penalties and interest involved, since the year end is Feb and it's now Nov already?

Do I have to enter Unit Trusts on my tax form?

  Written by Marc   Posted 8 November 2012

In Feb this year (28 Feb to be exact) I contributed a lump sum of R1000 to a Retirement annuity High equity fund, does that have to be reflected on my income tax statement?

What does it mean to receive a penalty?

  Written by Marc   Posted 6 November 2012

What does it mean to receive a penalty?

Can l still submit my return if I receive a penalty ?

  Written by Marc   Posted 6 November 2012

Can I still submit my return after receiving a penalty?

Can I deduct the interest I pay on my home loan?

  Written by Marc   Posted 6 November 2012

I have received a tax certificate from my bank showing the amount of interest I was changed during the tax year. Where (if anywhere) do I capture this on my tax return?

How do I account for Rental Income in my personal tax return?

  Written by Marc   Posted 6 November 2012

I have a property in a sectional title that I have rented out since 1 October 2011. Where and what do I fill in on my tax return?

What if I have a company registered in the Seychelles, but I am a South African taxpayer?

  Written by Marc   Posted 6 November 2012

I am a South African citizen residing in South Africa and work from home on the Internet. My company is registered offshore in the Seychells and have an offshore bank account in Mauritius. I have no clients in South Africa or Africa, but work with clients in other countries and have mandates with companies in the USA, Moscow and Hong Kong. I stand a good chance to earn a substantial commission which will be paid into my offshore account. Can I opt to pay taxes in Mauritius as i also want to...

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What is source code 4142 on my IRP5?

  Written by Marc   Posted 31 October 2012

What is code 4142 and how is it applied in taxable income?

Does home loan interest charged affect my tax?

  Written by Marc   Posted 31 October 2012

I received a tax certificate from my bank showing the amount of interest charged on my home loan. Where or how do I enter this on SARS eFiling?

Does home loan interest charged effect my tax?

  Written by Marc   Posted 31 October 2012

I received a tax certificate from my bank showing the amount of interest charged on my home loan. Wherehow do I enter this on SARS eFiling?

Do I have to be registered with SARS if I don't work?

  Written by Marc   Posted 29 October 2012

I am a housewife and someone said to me that SARS must know of my existence. Is this true? Is it necessary to aggravate myself by standing in insanely long queues?
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