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Incorrect travel reimbursement code on late tax submission which results in taxable income?

Posted 31 October 2014 under Tax Q&A


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I recently completed my 2014 tax return and was due a refund. Shortly after I was asked to complete my previous year return. I haven't done it as I was under the impression that I was under the tax threshold (below 250k). Whilst doing the return I noticed my previous employer incorrectly included my travel reimbursement under the wrong code per IRP5 ( they included as non taxable where as it was actually taxable as it was over 8000 km)
As a result I have a large amount now owing to SARS.
Is there any way for me to deduct actual costs for this if I don't have a log book? I do have a basic summary for the bulk of the expense which I presented to the employer for reimbursement.
nb: the cost per km reimbursed is at SARS official rate.

can you please suggest steps going forward.

Thanks

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TaxTim TaxTim says:
31 October 2014 at 11:07

You could ask the employer to change and resubmit the IRP5 with the actual code. Unfortunately without a logbook you cannot make a deduction. Are you a commission earner.

Mike says:
31 October 2014 at 15:00

Thanks Tim.

Appreciate the response.

No I'm not a commission earner.

I corrected the tax return and had to pay sars.

In my ITA34 there was no mention of penalties for late submission etc.
Is it safe to say I won't be getting any for this late submission?

Also I uploaded some documents for an audit but then rectified the return myself when I realised the error, will the sars auditor close the case and ignore the the first return?

Thanks again for all the great help.

TaxTim TaxTim says:
1 November 2014 at 11:39

There won't be any penalties imposed if the case was closed. SARS will most likely just issue you a R0 assessment so there is nothing left to do or worry about.

Mike says:
1 November 2014 at 11:51

Great! Thanks Tim

Once again, appreciate your assistance!

TaxTim TaxTim says:
2 November 2014 at 20:53

Only a pleasure!


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