Do I get money from SARS?

  Written by Marc   Posted 26 November 2015

How do I know I got money at SARS

SARS code 3702 not being taxed

  Written by Marc   Posted 25 November 2015

Good day. I have codes 3701 and 3702 on my IRP5. I claim more then the SARS rate due to the fact that our rate includes fuel, maintenance, capital, insurance and depreciation. I was told by SARS the employer is not taxing the 3702 reimbursement. I now owe SARS. How do one correct such a scenario not to owe monies at assessment. Thank you
Regards

Car expense claims as a full commission earner

  Written by Marc   Posted 25 November 2015

I started as an estate agent and I have not kept records of my mileage and the car is paid up, what can I claim as a vehicle expense and depreciation

Mileage claims

  Written by Marc   Posted 25 November 2015

Good day, i work on the road every day and get my mileage paid to me monthly separate from my salary and don't get taxed on it. What do I need to submit my taxes?

How are personal assets to be valued? Personal assets given or donated to you?

  Written by Evan   Posted 25 November 2015

Am I correct in understanding that the valuation of personal assets is at cost price? What about personal assets that you have received as personal gifts/donations over say 10 yrs which in each year was under the annual exclusion rate. These assets have value yet cost is zero as they were given freely & gratis. How will/would SARs see this in an event of an Audit and a Home inspection?

Work done for previous employer after hours

  Written by Marc   Posted 25 November 2015

I have done some work for my previous employer after hours to assist until the new person is employed. We agreed upon a hourly rate. I must now be paid for these hours. What will be better for me:
1. To invoice the previous employer for the hours
Or
2. Let them pay me through their payroll as their employee?

What will the income tax implications be with both these options?

Travel Expenses - commission

  Written by Marc   Posted 25 November 2015

I work for a company. I am contracted out to a client. I gather I can claim travel costs from work to the client? I have maintained a log book but I have not received a travel allowance on my payslip from my company. How do I claim the travel expenses?

I am a provisional tax payer with an employee - I want to give him a bonus for December -

  Written by Marc   Posted 25 November 2015

I am a provisional taxpayer with an employee - I want to give him a bonus for December - does he pay paye/uif on this?

Lump Sum Retirement Fund deposit no longer accepted under SARS code 4006 in reassessment

  Written by Evan   Posted 25 November 2015

Hi. My 2013 tax return was reviewed this tax year and adjustments made by SARS to my Retirement Annuity fund which has now left me owing SARS a large sum of money where the original assessment actually gave me money back. If I compare the original ITA34 to the new one I can see that the previous SARS code 4006 which had an amount counted as part of my deductions now in the new ITA34 reflects as R0.

A bit of background to this is that I changed employees and my new employer did not offer a pension fund so I instead redirected these funds to my retirement fund...

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ITA34 report when receiving a non-taxable allowance

  Written by Marc   Posted 25 November 2015

The bank requires me to submit an ITA34 report for a loan application. My income is not taxable because it is an allowance from my parents. Is it possible to still get this clearance from SARS?

Have an IRP5 but am an independent consultant, how do I answer some questions?

  Written by Marc   Posted 25 November 2015

I was part-time employed for 5 months of Tax year 2015, for which I have an IRP5. But I have made income elsewhere throughout the year as an independent consultant (freelancer). I am a little uncertain how to answer some questions, such as: "Did you spend any other money related to your earnings that you think you can claim as a deduction? You must have an amount next to source code 3606 (commission) on an IRP5 to qualify". The expenses I'd like to log relate to work that is not reflected on an ...

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Are my medical expenses (besides contributions to medical aid) deductible if I earn R70 000 per mont

  Written by Marc   Posted 25 November 2015

Are my medical expenses (besides contributions to medical aid) deductible if I earn R70 000 per month

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.
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