PAYE & UIF: 10 most popular posts
Freezing emigrants Retirement Annuities, how do I declare non-tax resident status?
Posted 10 February 2021
Hi TaxTim, please can I ask about emigration and Retirement Annuities (RA)?
The new South African tax regulation, effective March 1, regarding emigrants' RAs being frozen for 3 years after financially emigrating:
1. I was told the start of the 3 years is not from date of financially emigrating, but rather the declaration date of non-tax resident status, is this correct?
2. If so, how does one declare oneself a non-tax resident?
3. I may have already declared mysel...Read more →
Is there a limit on the contribution towards PAYE for tax on perks such as fuel?
Posted 20 January 2021
As part of my package I receive the benefit of a fuel card and car allowance (but I do not do any business travel). However, on my tax return for 2020 I had to pay almost R9k because of this benefit. I had thought that our Human Resource Department would have made adjustments to my PAYE so that I would be paying 100% of the applicable tax so that I do not have anything to pay when I do my tax return once a year. Our Human Resource person said that he was not able to set the PAYE so that I could in future pay 100% of the fuel and car allowance benefit, but was limited to set it at 80%. ...Read more →
SARS discrepancy sms
Posted 5 August 2020
I got a sms from SARS reviewing discrepancies identified between 3rd party (TaxTim) and my last Income Tax tax return. Also they are advising me that I should ensure that the information is captured correctly. My information is captured by Sanlam and assume it is correct. Please advise what the discrepancy could be? And why do they mention the word "discrepancy"?
What does SARS mean by auto-assessment?
Posted 27 July 2020
I saw something in a news article about SARS issuing auto-assessments this year from 1 August. I tried to research but couldn't find much and this is all very new to me. Please can you explain what this is? Are there any new changes which I need to be aware moving forward? I have been filing my own tax return for the past years, but I hear that I might not need to do so this year.
Why am I getting auto-assessed? Where is my tax return?
Posted 23 July 2020
I received an auto-assessment from SARS but I am confused what this means. Why have I been selected by SARS and how did SARS get my data? Can I still submit a tax return if I want to?
Why am I being auto-assessed on SARS eFiling?
Posted 22 July 2020
I received an auto-assessment from SARS. My husband did not receive the SMS but my friend also received an SMS saying she has been auto-assessed. Why have SARS introduced this new process? Why are there some being auto-assessed and not others?
SARS sent me an SMS about auto-assessment? Is this legit?
Posted 20 July 2020
I received an SMS from SARS which mentioned something about an auto-assessment. I have not heard of this before. I don't trust anyone these days, and because of that I just want to ensure that this is legit - do you think this is a scam?
Difference between Vat and Tax numbers
Posted 20 July 2020
What is the difference between a VAT registration number and a tax reference number. When do I use which one? Are they not the same thing?
Income tax on drop-shipping
Posted 3 July 2020
I am currently doing drop-shipping, the products which come from over sea, so I would like to know what income tax would I need to pay. What do I need to know about this if I am doing it for the first time? Could you kindly share tax material with me which I can use to also work my way through this.
Individual Tax Consultation
Posted 18 June 2020
In January 2018 I stopped working as a full time employee and for the 2018/2019 tax year I did various things (including foreign travel and work) and earned different kinds of incomes. I did not register as a provisional taxpayer as at that stage I really did not know how the year was going to pan out and if I was going back into full time employment again. I would like to settle any tax I may owe for the 2018/2019 year, however with my different incomes, working out the country for more than 18...Read more →
When can I submit my tax return?
Posted 31 May 2020
When can I submit my tax return for the 2020 tax season? Are the filing dates still the same as those of the previous year?
Freelancer and Tax payments
Posted 28 May 2020
I am currently working as a freelance artist who just started earning money from the work which I do, but at the moment I earn approximately R600.00 a month. I also have not been working for a long time before I begun with the freelance job, it has been just over 7 months. Do I still need to pay my taxes even though my income isn't fixed and stable? If that is the case I need help in knowing how I can calculate how much of the tax I would need to pay.
Register as a Sole Proprietor
Posted 8 May 2020
Can TaxTim help me register as a Sole Proprietor and assist me with my accounting?
Drop-shipping and taxes
Posted 7 May 2020
I am currently running a drop-shipping business on Shopify which makes around R83 000 in sales (that's about R45000 profit) per year. As it is a small amount of money at this moment, do I still need to register my business at this stage and start paying taxes? Also, I am ordering small products from China and sending them to customers all around the world. I am not sure how i should go about the taxes in this case. Could you assist me with that?
Foreign Employment and Tax Implications
Posted 29 April 2020
I am a South African resident currently employed full time. I earn a monthly salary of R23000 (before tax). I have recently started consulting part time for a foreign company that will pay me in dollars. On average $2000 every 3 months.
Outstanding Provisional Tax
Posted 22 April 2020
I think I needed to submit my last tax return for year ending 29 Feb 2020 as a provisional taxpayer. I have now unfortunately missed the two provisional opportunity windows, but am hoping I can submit and if I need to, pay all the money/penalties owed in the third and final window. Will I be able to do so even though the time has passed? And if yes, would there be any other information which I would need to know before I begin with my filing process?
Provisional Tax and Annuity Income
Posted 2 April 2020
At the start of the 2021 tax year I will be earning a monthly income from my living annuity [LA], however as I understand from the provider of the LA, that tax will be deducted by them before I receive the monthly amount. I am registered as a provisional taxpayer and will be earning additional income on top of the LA income. So, I therefore assume that I can continue being a provisional taxpayer and declare the additional income only in the IRP6, or would I have to declare both incomes and then ...Read more →
New company and tax forms
Posted 27 March 2020
I have a new consulting firm and I completed an IRP6 twice, for the two SARS documents, as provisional tax. Note that on the said form there is no provision for any deductions of expenses to set-up my company.
I am not sure what to do next.
Do I need to complete a ITR12 form?. If so, where can I get this form? Currently, it does not show on my SARS e-filing, only the two completed IRP6 form are indicated.
Independent Contractor versus Personal Service Company
Posted 2 October 2019
I'd like to get some clarity on whether there is a difference between an Independent Contractor and a Personal Service Company?
Tax on living annuity
Posted 5 September 2019
What type of a taxpayer am I if I receive a living annuity and I am 42 years old? My monthly living annuity income is just over R10000, I also receive money from my children's investments which ranges between R1000 and R8000.
Posted 25 July 2019
I am confused and I need some clarity regarding money I am contributing into a pension fund. I am making monthly contributions into someone else%u2019s pension fund. I was wondering whether I can deduct my contributions from my income for tax purposes. Can I claim these contributions back? I am not certain whether this is doable and would appreciate your help.
Provisional Tax on Rental Income
Posted 13 June 2019
My wife and I are South African and we are currently based in East Asia. I work here as a teacher and my wife is not employed. We are married in community of property. So, back at home in Durban, we own two properties, one is residential and the other an office space. We receive rental income of about R6000 and R7500 respectively. Both properties are mortgaged and they are part of a sectional title scheme. Should we register as provisional taxpayers and how would we go about doing this?
Submitting a tax return and foreign income
Posted 5 June 2019
I have been living abroad for a while, since February 2018 to be exact. I filed my tax return for the 2017/2018 financial year, as it reflected my income for the previous year, during which I was employed in South Africa. I would like to maintain an unbroken record with SARS, but I'm not sure how to file for income earned abroad. My current income is well below the R1 million limit impostor in South Africans working abroad. I will be tax returning to SA in March 2019. So, I would like to know wh...Read more →
Tax on foreign employment
Posted 28 May 2019
I was living in Dubai from March 2014 up until December 2016, I however did not earn any income while living there. I then moved to Namibia, where I am currently employed and getting an income, I am a registered taxpayer in Namibia. Also, I am a registered taxpayer in South Africa because I worked there before moving to Dubai. I've received no income from South Africa since moving out of the country. I'd like to find out if I still need to submit a tax return to SARS?
Posted 7 March 2019
I am a first time IRP6 Provisional Taxpayer and I am looking to complete and submit my tax return through TaxTim. Would you be able to assist me with my tax return? I would also like to find out whether Provisional Taxpayers would need to submit documents and other expenses later in tax season again? Also, will I have an opportunity to submit other expenses later if I accidentally leave out something or over estimated on my IRP6 P1. And finally, how accurate does my IRP6 need to be considering t...Read more →
Older posts →