Tax Q&A
Car Deductions on Commission
Hi Tim, I am a Commission earner and I claim back on my vehicle usage on depreciation and logbook. When I claim back on my car usage, I keep a logbook as well
Read moreDepreciation for Commission Earner
Hi TaxTim, I have a lot of questions lined up. I hope its ok. The first one. I am a commission earner and claim back usage of my vehicle for business use. 75%
Read moreDeadline: Manual Versus Via Tax Practitioner
Hi there, when is the deadline for submitting manual income tax returns? I had submitted my income tax returns via my tax practitioner and when is this tax pr
Read moreVAT on new vehicle for commission earner
As a Commission earner and using my vehicle for business purposes. Can I claim the VAT back on purchasing a new vehicle?also what can I claim on the interest
Read moreStatement of Tax invoicing
Hi, I submitted a tax return via SARS eFiling which tax returned an assessment that I owe SARS R2500. Puzzled by this I asked a friend and she advised that I
Read moreCalculation regarding lump sun withdrawal benefit?
How does the calculation work regarding lump sum withdrawal benefit (3920) from Sanlam Life Insurance Ltd and is the any deduction on that amount? Please m
Read moreNO refund yet
Good DayI recently submitted my tax return and have a refund due to me. I emailed SARS and asked how come I have received my refund and they say that I have n
Read moreTax on Dividends
I have a small business on the side line where my wife and I are 50/50 owners of the company. I have a job but she does not. Is it best to only declare divide
Read moreCan a sales representative claim on car installments?
I just started a new position as a sales representative, and the car I am currently using is quiet old. As I will be travelling a lot to see clients I would l
Read moreTax on family gift money from overseas
Hi TaxTimThank you for offering this great service. My question is: If my sister who is an Australian resident wants to send me a gift of between R1.5 to R2 m
Read moreGross income reflected under incorrect source code
My IRP5 incorrectly reflects my income received as Gross Retirement Funding income (3697) instead of Gross non Retirement Funding income (3698) - How can I fi
Read moreSHOULD I BE EVEN PAYING TAXES?
I lost my job 5 years ago, but I get part time work now and then. I have just filed for this year and average about R15k for the year. But am now being made t
Read moreIs financial derivatives trading profits taxable on a individuals level
Is financial derivatives trading profits taxable on a individuals level? Yes they will be, the profits made will be added to your other income and taxed pe
Read moreMarried couples and CGT on sale of primary residence
If a couple is married in community of property, does the Capital gain on the sale of their primary residence get split between the two on their tax returns (
Read moreWhen will money show into my account
SARS owes me money It would be best to call SARS on 0800 007 277 to find out reasons for the delay. Please also read our blog posting on Reasons for a delay
Read moreHow do I dispute an Additional Assessment issued by SARS that is not correct?
Hi Tax TimI am very pleased with the work that you are doing here. Keep up the great work!!!I submitted my tax return to SARS about a month ago and they selec
Read moreVerification of banking details- requirements.
My ITSA does not ask for any information, but I received an sms asking me to verify my banking details. There was no letter and no indication of what document
Read moreRequest for Supporting Documents but I have not been employed for 3 years
SARS is asking for supporting documents related to my tax return but I have been unemployed and living abroad for three years! I don't have any of the documen
Read moreStill waiting for one more verification
Hi Tim. I was asked to submitted supporting documents for review for year 2012 and 2014. I submitted for both years but according to SARS I have two IRP5's fo
Read moreITA34- Gives 0.00 as Net amouny payable but tax calculation result is "-18K".
I submitted tax return (ITR12) for year 2013-2014 via SARS SARS eFiling and calculator shows that amount is -18K. But ITA34 Notice of Assessment show "0" amou
Read moreCan I get tax number via the internet?
How can I get tax number via the internet? Please see our blog posting on How to get a SARS tax number.
Read moreMy total taxable return is higher than normal, am I being punished for bonuses received this year?
Hi Tim, I have recently completed my tax return. I received a first assessment that said I owed SARS 7630 but I was selected for verification. After the verif
Read moreWhat is an IRP5 from my employer?
What is a IRP5 and who can claim the money from SARS? An IRP5 is a summary of all your payslips over the year you have worked showing the salary earned and
Read moreCan I claim a fixed cost travel deduction if I receive a reimbursive travel allowance?
I am needing to do tax returns going back to 2010!! If I received a reimbursive travel allowance (reflected under code 3702 on my IRP5), can I claim a travel
Read moreSARS refunds and monetary gifts
Do monetary gifts and my SARS tax refund count as income received? You should declare on your Tax Return that you received a donation under the "Amounts no
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