Why file a tax return?

  Written by Marc   Posted 25 November 2015

If you advise filing a tax return why do SARS say you shouldn't? I have been told by them not to.. I make minimal money at a very part time job. I do earn interest. I do have quite a few investments in my name too.

Medical aid supporting docs

  Written by Marc   Posted 25 November 2015

Hi. I have claimed for medical aid contributions and excess medical expenses out of pocket. SARS is auditing me, do I have to submit the actual slips for the out of pocket expenses (i. E. Every consult invoice and proof of payment)? Or is the summary from the medical aid (which shows claims and what was not covered - it has both full claim amount and out of pocket expense numbers reflected) sufficient?

Can I add bond & registration fees to a rental

  Written by Marc   Posted 25 November 2015

Rental - can I claim or declare bond registration fees and transfer fees on a rental

Medical tax credit change upon SARS review, can you help?

  Written by Evan   Posted 25 November 2015

I calculated that since my wife and kids were on separate medical scheme and that I was contributing towards this I would be entitled to a refund, which appeared on SARS eFiling as such. However SARS subsequently requested my tax documentation and reversed the same credit that was in my favor to me now owing them?

Can you help with this?

Want to know when SARS is paying my money; October has passed..

  Written by Evan   Posted 24 November 2015

I already file via SARS was suppose to get my money in October even, now I don't know what happened to the payment...

How do I calculate Rental Income?

  Written by Marc   Posted 24 November 2015

How do I calculate rental income? Is this calculated as follows or is it different? Rental Income = Bond Repayments - Rental income. If it is positive it will be a profit, if negative it will be a loss?

What is the amount that is medical contributions made only by me, not reflected in the IRP5?

  Written by Evan   Posted 24 November 2015

On the tax return,there's a section that requires me to fill in any medical contributions made by myself that are not reflected on my IRP5/IT(a) however the total contributions are reflected on my IRP5 so am I supposed to deduct the employer's contributions from the total contributions to calculate contributions made solely by myself or is is another amount they're referring to?

Tax Deduction for Personal Vehicle

  Written by Evan   Posted 24 November 2015

I am busy completing my Tax tax return with TaxTim, under the Tax Deduction section there is a wear and tear section. Can I depreciate the value of my personal car if I am still paying it off?

Cash co-payment on medical procedure

  Written by Evan   Posted 24 November 2015

Two questions relating to medical aid expenses:

1) I paid ~R5000 cash copayment for a medical procedure. Can I claim this medical expense on my tax return?

2) If I have medical aid gap cover can I use the total premium payments for the year as additional medical expenditure?

Medical aid premium

  Written by Evan   Posted 24 November 2015

Where on your website do I enter my medical aid premium? I paid it myself not through my employer. Your website only asks for expenses that I have incurred outside of my medical aid.

When am I getting the refund for late husband's deceased estate?

  Written by Evan   Posted 24 November 2015

In August I submitted my late husband's IRP5 and I was told that I am going to receive R2100 for the year 2015. They told me that its still going for an audit.

What should I do because I am still waiting for that money. And when you call them you keep on holding until the airtime is finished without being helped. What do I need to do?

Deduction for travelling to work

  Written by Evan   Posted 24 November 2015

Where do I enter my deduction for travelling to work as an independent contractor?

All I find is this:
"Did you spend any money on business travel which you do not get a travel allowance or reimbursement for? You must be a commission earner to answer Yes. Look for source code 3606 on your IRP5. Your Commission MUST also be more than 50% of your total income as stated on your IRP5. "

And this:
"Do you receive a travel allowance from your employer? Click Yes if source codes 3701 or 3702 appear on your IRP5, AND if you kept a vehicle logbook. "...

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Any tax on inheritance of a house

  Written by Evan   Posted 24 November 2015

My daughter will inherit my primary residence. Are there any tax implications for her and/or for my estate? Like CGT for example.

Income from consulting

  Written by Evan   Posted 24 November 2015

Where do I indicate my income from freelance consulting? I was not employed and thus did not receive an IRP5/IT3a from an employer.

What to do with medical slips if not member of medical scheme?

  Written by Evan   Posted 24 November 2015

If I am not a member of a Medical Scheme; but keeping the slips of Medical Expenses, can I fill that amount to my Tax Return form. If yes; where to fill it?

Declaring financial derivative gains on the ITR12

  Written by Evan   Posted 24 November 2015

I earned income as the result of trade in financial derivates. I am not a professional trader and do this in my spare time. How do I declare this on the ITR12 and how do I claim expenses against this income? Is this defined as a business or as investing and capital gains? I used my home office and own equipment for financial research and online trading. In a previous answer you stated that this type of income can be declared on the ITR12 but somehow I missed it in the TaxTim Q&A process. When I ...

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Medical aid claim for claims submitted after year end

  Written by Evan   Posted 23 November 2015

Hi. I submitted a medical aid claim after the tax year end for a procedure which was done in February 2015. Medical aid only paid a portion of the claim due to the nature of my medical aid plan. The amount not paid for by the medical aid is not reflecting on my medical aid tax certificate for 2015. I do have the original invoices. Can I add it on my tax return for this year or only next year?

Over the counter medication vs prescription medical claims

  Written by Evan   Posted 23 November 2015

Why can I not claim for over the counter medicines that I have to purchase and is then cheaper than going for a doctor's consultation and still pay for prescriptions?

Can you assist with complicated tax return, involving extra income, provisional tax etc?

  Written by Evan   Posted 23 November 2015

My situation is pretty complicated. I am a provisional tax payer. I earn extra income for 3 properties, but also from a side business. All goes through my own personal bank account, so it is personal tax all of it. I am fully employed, however I was retrenched in 2014 June. I have an income protector and claimed from it for 2 months, until I started work again in September 2014. I have retirement annuities, medical aid etc.

Am I able to use your services effectively and accurately in...

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Tax on Receiving Foreign Funds over R100 000

  Written by Evan   Posted 23 November 2015

My mother is moving to RSA and wants to transfer an amount of R250 000 into my account to 'hold' for her until she sets up her RSA bank account. The amount is in EUR. I spoke to SARS who claim that I can declare it as 'non-taxable income/gift' in my tax returns. I asked them to clarify donations tax but they insist, it will not be counted as a donation unless I file an IT144?

a) is this true; every person and website I have checked with refer to donations tax @ 20% (on amounts > R100 000) ...

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Where do you include deductions in terms of a business as a sole proprietor?

  Written by Evan   Posted 23 November 2015

I know a medical practitioner who in addition to working at a hospital, started their own private medical operations in Jan. As a sole proprietor, I understand that the profit/loss should be included in their personal tax return.

Where on their tax return should they fill in deductions of expenses incurred in the production of income ito the practice?

Verification of income tax declaration

  Written by Evan   Posted 23 November 2015

I have submitted my tax returns and they called for my 2013 tax return which I did, they then called for verification of income tax declaration for the PAYE amount. I then went to SARS to submit my IRP5 from 2013 to show them proof of my PAYE amount. This isn't a real complex case all they need to verify is my PAYE amount.

How long will it take them to pay out my refund with regards to the above case?

Out of pocket medical expense of R3920. Will that help my refund?

  Written by Evan   Posted 23 November 2015

Out of pocket medical expense of R3920. Will that help my refund? I have no medical aid.

Tax on allowance for laptop?

  Written by Evan   Posted 23 November 2015

Is there tax on laptop allowance?

Does the employer and employee both pay PAYE?

  Written by Evan   Posted 23 November 2015

Is PAYE deducted to both the employer and employee? In the books of the employer is it 2x like the UIF or any other contributions?
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