Tax Q&A
Medical Tax Credit (MTC) and the ITR12
I pay my own medical aid and the total amount paid was R15626. When entering it on my ITR12 it shows me a NULL allowable medical deduction under a code 4008.
Read moreHow to deal with depreciation if moving from sole prop to CC.
On 1 September 2013 I will cease as a sole proprietor and operate as a CC. How do I deal with depreciation eg a truck depreciated for 8 months with 40 left unde
Read moreFirst time to SARS
It is my first time going to SARS and I didn't know if I should have taken my rip5 of the last 2 years and my medical aid documents. I only took the ones for th
Read moreSouth African Expat working in Dubai
Hi Tim,I have been working in Dubai since 1 January 2011 and would like to know do I need to declare my Dubai income on my tax return? I have only been back to
Read moreSARS eFiling username & password
How do I get my username and password without calling the SARS landline and spending over 30min on the line and still getting nothing? Click on the 'forgot u
Read moreProvisional tax Period 1 query
Hi. I am a provisional tax payer for the first time due to earning rental income greater than the threshold. I received (& was taxed on) a bonus from my emp
Read moreRegister company for tax
My employer wants me to register for tax, but she is not registered as a company/employer. How does this work? What are the procedures that must be followed. Than
Read moreDo I submit my capital gains from an investment as part of my primary residence if I do not have one
Do I submit my capital gains from an investment as part of my primary residence if I do not have one? I own no property etc. Gains made from investments are
Read moreCan you claim depreciation as an expense against rental income?
Can you claim depreciation as an expense against rental income? Depreciation of what items? Depreciation on the value of the property being rented. You
Read moreWhat is the tax free amount for interest earnings? I am over 65.
I am 66 years old - what is the tax free interest earnings amount - 2013/14 tax year. I earn a salary of R104,000 pa. Tax free portion of interest for over 6
Read moreSARS tax source code 3698
Please can you explain the source code 3698 - Gross non-funding retirement funding employment income on the SARS tax certificates. This is the income earned
Read moreSARS requesting IRP5. Employer can't find IRP5.
Hi Tim,I started working in January 2008 but never got given my IRP5 for the tax year ending Feb 2008. Now SARS has asked me for that IRP5. I've contacted my fo
Read moreEfiling status says "correction filed"
Hi Tim,I submitted my tax return. I submitted supporting documents. The status on efiling is - "Correction Filed".Please can you advise what this means? How wil
Read moreSubsistence allowance rate for Mozambique tax year
Can you give me the subsistence allowance US$ rate for Mozambique tax year 2013 please. US$69 per day
Read moreHow to calculate Tax Refund if over 65 with a disabled dependent
I am completing my father's Tax Return for him. He is over 65 and has a dependent, my brother, who is mentally disabled. I have indicated this as such on the re
Read moreAllowable vehicle expense deductions
What vehicle related expenses can I claim as deductions? I am a property manager and rental agent and use my vehicle mainly for work purposes. I know that any e
Read moreWhat does a reduced assessment mean on your SARS?
What does a reduced assessment mean on your SARS? It means that your overall amount owing to SARS has been decreased or the amount of the refund owing to you
Read moreCan taxes be deducted if you have never earned more that R40 000p/a?
Hi TimMy husband earns about R44 000p/a. For the past 3 months, money has been taken out of his account by SARS. According to them, it is outstanding taxes from
Read moreHow does source code 3697 and 3698 work?
I am trying to complete my tax return and IRP5 and I am unsure as to whether the gross income amounts go under 3697 or 3698. My question is, which one do I use?
Read moreDo I owe SARS or do they owe me for the past twenty years that I worked?
Since I started working I have never made a tax return claim from SARS for the past 20 years. Do I owe SARS or does SARS owe me? It would depend on what your
Read moreI wanted to know if my divorce settlement is taxed?
Hi, I got divorced last year and I got 50% of his money since we were married in community of property. When I went to claim it I was told I had to pay tax on i
Read moreI have never worked in SA and lived abroad since I started my career, must I file for tax in SA?
Dear Tim, I am South African citizen. After my studies I went abroad and have lived in the same country since I left SA. I am not registered as a tax payer at S
Read moreI don't have a IRP5
Is it possible for me to claim tax return wthout having the IRP5? You can register for SARS eFiling and then once you have logged in, on your ITR12 tax retu
Read moreAre you able to calculate how much I might be getting / owing ?
Hi TimAre you able to calculate how much I might be getting / owing from SARS?Thanks We have a dynamic tax refund calculator which you can use to work out y
Read moreHow do I work out medical aid contributions when I had 2 employers in the tax year?
I have 2 IRP5s from changing jobs last year and each employer contributed a different amount to my medical aid. How do I calculate my medical aid contributions?
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