Tax Q&A
Must a capital gain be included in the first provisional return for the year when the gain is made?
My company sold a property in April 2015. The tax year end is February 2016. Would the capital gain on the sale of the property have to be included in the fir
Read moreHelp me to know if I qualify to pay tax?
I am permanently employed and receive the basic salary of R2600. 00 p/m excluding overtime. Do I have to pay tax? No you do not have to pay income tax on t
Read moreIf I pay to make use of state hospitals, does this count as medical expenses?
Hi, I am not on a medical aid, but have paid privately to have some tests done and have also paid a fee at a state hospital according to my earnings. If I hav
Read moreTax implications of trading Equity, Bonds, Derivatives, Money Market and Forex.
What are the Tax implications of trading the following asset classes Equity, Bonds, Derivatives, Money Market and Forex. You will be subject to tax on the
Read moreTax eFiling Assistance Required
I want to file my return for assessment year 2014 and 2015 both. I have IRP5 file available to me provided by my employer. Please let me know how can you help
Read moreLoan from UK - treatment for tax purposes?
My brother in law is a UK citizen, and wishes to gift his brother, my husband, a sum equal to R1.2 million rand. My husband is not South African, but a perman
Read moreIf a company generates less R250k per annum does it file return?
If a company generates less R250k per annum does it file return? Yes, all companies have to file tax returns regardless of their level of income.
Read moreWhat constitutes "place of work?"
Travel Allowance: SARS says that travel between home and place of work is considered private and may not be claimed. What constitutes my "place of work
Read moreWhat Gross earnings/profit does the business have to earn before being laible for tax?
What is the tax threshold for a business? What Gross earnings/profit does the business have to earn before being laible for tax? Can you provide more detai
Read moreRegister for a tax reference number?
How do I get a tax reference number. I am unemployed but applying for a job and they require a tax reference number on my application form? Please read ou
Read moreWhat tax amount is deducted from a provident fund when retrenched?
I have been retrenched. How much tax will I pay to withdraw from the provident fund value of R600 000 Please make use of our Lump sum calculator to work
Read more2 examples of indirect taxes and current rates
2 examples of indirect Taxes and indicate the current rates of taxation on each? VAT - set at 14%Customs duties - depends on the item
Read moreValue added tax
Using an example , explain the basic principal of value added Tax? Value Added Tax is a consumption tax on the final user who consumes the goods or service
Read moreTax on leave payout and which law governs the tax deducted
What amount should you get taxed on for leave payout if it is paid out separately and not with your monthly salary? Is it suppose to be taxed as a lump sum us
Read moreDoes pocket money count towards the R100,000 donations threshold?
I am giving my son R100,000 and putting it into a fixed deposit account to save. I know this is the maximum donation I can give to him without me paying tax.
Read moreDo I need to submit tax return, back in 2013 if I earned well below the threshold?
I've recently submitted my 2015 tax return with Tax Tim. After phoning SARS - they mentioned that my 2013 tax return was outstanding. I only worked for three
Read moreWhat papers do I need if I worked abroad and want to submit my tax?
What documents do I need to submit my tax return if I worked abroad Did you work abroad for a South African company and receive an IRP5? Yes You woul
Read moreTotal tax
How much is my tax You would need to make use of our Tax refund calculator to work out what you tax is or our SARS income tax calculator
Read moreCan my retirement annuity and charity contributions paid by my spouse be claimed by my spouse
Unemployed for past financial year and spouse paid my retirement annuity contributions and donations . Can he claim my retirement annuity contributions and do
Read moreCan I submit invoices for building material?
Can I submit invoices of building material I bought for renovation to my house? Renovation costs are added to the base cost of a property which will be use
Read moreTaxable income for taxi business?
Is income generated by operating a taxi business taxable? Yes, income generated by operating any income is taxable and you need to submit tax returns to SA
Read moreNo tax income ductions, do I get tax return?
I am not a income taxpayer but I want to know, do I get tax return money? No you do not, a tax refund is when you have overpaid your taxes and SARS refund
Read moreLate Dependent benefit on UIF
Our brother passed away last year March and he had 2 children. We didnt knw that we could have claimed depengent benifit on his UIF. Can we still claim it? An
Read moreI HAVE CLAIMS NOT RECOVERED FROM MY MEDICAL AID OF R23,733.00,WHAT IS THE EFFECT OF THIS ON MY TAX R
I HAVE CLAIMS NOT RECOVERED FROM MY MEDICAL AID OF R23,733. 00, WHAT IS THE EFFECT OF THIS ON MY TAX RETURN Please make use of our Medical Tax Credits Cal
Read moreWhat numbers do Tax refernece numbers start with?
Hi. What are the 1st qualifying digits on a Tax Reference number that separate it from all the other SARS numbers. Ie. What numbers do Tax reference numbers s
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