Are Share Options taxed on date of them vesting (eligible but not exercised) or only when exercised?

Posted 11 February 2021

I have the option to participate in an employee share option scheme, but I'm a little unclear on the tax implications. I high-level view is as follows:

Options will be granted at an agreed price (e.g. R1)
The options will vest over a four year period (annually)
Once vested, I would be able to exercise the right to purchase and retain shares or sell to a willing buyer because the company is private, it may not always be easy to find a willing buyer (e.g. At the end of each year), and I may also not have funds available to purchase the shares myself. My main question is around when would I become liable for tax?...

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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%. ...

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Can a sole proprietor claim for vehicle maintenance?

Posted 19 January 2021

Can a sole proprietor (extra income, working from home) claim for vehicle maintenance (I do most maintenance myself, but have invoices for the parts) and insurance, if he did not keep an accurate logbook ?

Accepted auto assess forgot my travel logbook

Posted 18 August 2020

What will happen if I already accepted my auto assessment, but I have done so without submitting my travel log book, am I able to fix this myself, what should I do? Am I correct in saying that I would need to request some sort of correction on eFiling and how would I go about doing this? How and where on the eFiling system should I go to get the request for correction?

Auto Assess and Travel expenses

Posted 12 August 2020

I have received a sms, stating that my tax has been assessed automatically, and that a refund is due of R7000,00 however I do not know if my travelling has been taken into account as I have not sent anything yet. Could you help me in clarifying this matter. Should I accept it as it is, would this not have an impact on my tax return to SARS when I do finally submit it?

I received an auto assessment sms from SARS

Posted 5 August 2020

SARS has sent me an SMS saying they have calculated my assessment tax and I can accept or edit this. I have done an early tax return with TaxTim and I'm not sure what to do now as I cannot submit that tax return until 1 September.

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?

What happens to previous late/incomplete tax returns after a penalty has been paid in full?

Posted 21 July 2020

I have been working abroad permanently for more than three years and I reside outside of South Africa. I have never fully understood the tax rules and see that I have some penalties (fines) for late/incomplete submissions. I do not have any way of receiving all information needed to submit old tax returns, so I want to know what will happen when I pay the penalties? Will it just start racking up again for the same infringements or will I have a clean slate to do things the right way going forwar...

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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...

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Shareholder Loan and own company

Posted 5 June 2020

I have a loan with my company (payable from the company). I would like to know what the effects are that we need to consider regarding interest-free loans? I am aware that we can create a tax deduction for the company and I will have the interest exemption, but I feel there is something I'm missing?

Also if the shareholder already exceeded his R23k exemption, will it be fine if we do not levy any interest on this loan? Will there be any unknown tax consequences for that?

TaxTim Filing before tax season

Posted 22 May 2020

I have registered on TaxTim and have also granted you permission to get my information from SARS. Should I wait till tax season begins before I complete all the questions on TaxTim? I am however still waiting for my IRP5 from my employer. I also have property that I am renting out and have a logbook. Please advise.

Contract worker and Tax

Posted 22 May 2020

I was retrenched at the end of 2017. My last Tax Return was done in the year 2018. Since April 2019 I have been receiving income for work done on a contract basis and the company indicated that I need to see to my own tax affairs. How do I go about filing my tax return for 2020? Your assistance is highly appreciated.

Earnings of a teacher and tax

Posted 5 June 2019

I would like to find out if I should submit a tax return as a teacher that earns R300 000 per annum. Would this be required of me?

Business travel from home office

Posted 12 March 2019

I work for a multi-national company and I am home based. I would like to find out, when I travel into the office for meetings, can I claim that mileage as business travel? Also, just for interest sake, would it be different if I was a salary earner and I did receive a travel allowance?

Relocation expenses

Posted 11 February 2019

Renting Property and Travel Costs

Posted 13 July 2017

I'm renting out property in Cape Town and I stay in Johannesburg. When travelling down to Cape Town for maintenance/inspections purposes, do I claim the actual petrol money spent or the SARS rate of R3.29?

Submit a return with medical aid claims on

Posted 12 July 2017

I wanted to enquire approximately how much it would cost for me to do my Tax Returns?
Just an estimation.
It would be just for me. Straight forward Gross Salary plus medical aid. No other claims such as commission, mileage, petrol etc.

2 IRP5s and commission

Posted 11 July 2017

Before paying the fee I just want to make sure you'll be able to help me. From March to July. I earned a normal salary but from August I earn a basic and commission. As I sales rep I'm able to write off wear and tear on my
vehicle but obviously only from August. Same goes for my laptop etc. will your system be able to take this into account?

Company cars and travel claim

Posted 10 July 2017

I work for a motor car company and drive many vehicles, which registration number should I use?

Saving the TaxTim Logbook

Posted 7 July 2017

I need to submit my logbook to SARS, I used the TaxTim logbook. How do I
save the logbook so that I can upload it?

Capital allowances written off

Posted 6 July 2017

"Capital allowances written off" I do not understand what this statement means.

Travel Allowance Claim

Posted 5 July 2017

I get a travel allowance, but I use my wife's vehicle for business purposes
as we work together. Can I claim travel expenses?

Depreciation on a cellphone

Posted 4 July 2017

I have a pay as you go cellphone that I bought cash. Thus I unfortunately do not have monthly statements to determine an exact break between business and personal use. I spend about R300 pm on airtime and I receive a cellphone allowance of R750 pm from my employer. How do I calculate and show the depreciation amount and do I need a letter of consent if the allowance is shown on my salary slips?

Claim travel without a logbook

Posted 4 July 2017

I have source code 3802 on my IRP5 but I did not keep a logbook, can i claim for the perks tax paid via source code 3802 if I don't have a logbook?

Package for a commission and salary earner

Posted 4 July 2017

If I earn commission and a salary as an employee, which package should I select, Ultra or Smart? I also have a travel allowance and a medical aid contribution.


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