Tax Q&A
Are consulting fees with regards to a share sale agreement deductible?
Are consulting fees incurred for the acquisition of 75% equity shares in company deductible? From the purposes of the company or an individual? From th
Read moreHow to reflect the employer medical aid subsidy
Kindly advise if I have a medical aid and it is paid from my salary by my employer, whether the employer subsidy can be added with the medical tax credits und
Read moreMaximum amount allowed to loan out
Is there a maximum amount of money I can loan out to friends and family? Can I loan out R2 mil without having some kind of license? Someone told me that you ca
Read moreTurnover Tax registration
Can I register for turnover tax if I write and sell my own CRM software program. My turnover would be under R700,000 p. a. I would be the 'manufacturer' of my
Read moreUpdating details with SARS
Do I have to renew my tax reference number if any of my details have changed? No, but you must update your details with SARS either on SARS eFiling or by g
Read moreInterest on tax refund
My tax assessment SARS did not split my rental income 50% as I am married in community of property as was indicated on my tax return, Lodged an objection, but
Read moreWhat is the tax on provident fund withdrawal?
I applied for providend fund withdrawal of R66,000 on the 25th of Jan 2016. How much will I receive, after tax is being deducted? Please make use of our L
Read moreCapital Gains Tax on shares sold from a deceased estate
Does a capital gain on shares sold from a deceased estate after the death of the deceased get taxed? The estate will never be taxed twice if the CGT was pa
Read moreTax deductions on R6,300 per month
I am earning R6,300 per month and I have notice that there is a deduction of PAYE and my employer never told me about it. Is this legal for him to deduct with
Read moreHow to calculate the Doubtful Debts allowance
If provision for doubtful debts balance in 2015 was R120,000 (2014: R60,000) relating to a specific debtor. In 2014 income tax return the taxpayer claimed a d
Read moreTax returns
When can I submit my tax returns for the year 2015/2016? Filing season opens on 1 July 2016 and runs to 30 November for salaried employees and 31 January 2
Read moreTaxable amount on R1 950 000 pension lump sum
My pension when I resign is R1 950 000. How much tax I'm going to pay? Please make use of our Lump sum calculator to work out tax on your pension if you d
Read moreIndividual tax registration for citizen abroad
I haven't officially emigrated but live in the UK and have subsequently discovered that I am not registered for tax in SA. This has implications for my my inv
Read moreWhat is the tax on interest earned for a non-resident?
I am currently living outside of South Africa. Am I able to deposit money with a South African bank and at what rate will my interest earnings be taxed at? Am
Read moreTax on Lumpsum on resignation
How much will be my taxable amount with R1 950 000 when I resign Please make use of our Lump sum calculator to work out how much tax is paid.
Read moreRetrenched,how much tax is due on my pension
I am getting rerenched, my pension is R 2800000.00 how much tax am I going to pay. Please make use of our Lump sum calculator to work out tax on your lum
Read moreMaximum Tax deduction for retirement fund under new tax dispensation
I am a government employee contributing towards the GEPF. I and the employer make contributions based on my pensionable salary which is 70% of my total cost t
Read moreMust I pay tax on my income?
Do I pay TAX or must I have a TAX number if my salary is R5000 p/m GROSS. Was told I need Tax nr to be registered by our company bookkeeper on payroll? You
Read moreHow to treat a loss in a trust
Can we deduct expenses against a nil income, creating a loss, in a trust? You can and this will be carried over to the next year if you make a profit.
Read moreWhat is the PAYE on my salary of R5,906?
My salary works out to R5,906. I contribute to a provident fund. What is my tax payable per month? You will not pay any tax as you are earning below the t
Read moreTaxation whilst working out of South Africa
Hi I will be working in Botswana from the 1st of June. I will be taxed in Botswana but will get paid into my South African bank account. I am a South African
Read moreTax on share options
On 1 March 2011 MaxBuild Ltd granted me an option to purchase 10 000 equity shares in the company for R75 each. The conditions attaching to the grant of the o
Read moreTax implications of funds held in Share Platform
I have a question regarding funds held and traded out of EasyEquities - a share platform you might have heard of. For example, say I want to sell my SAB Mill
Read moreHow can we claim bond interest from rental income when married out of COP?
My wife and I are married out of COP (ANC with accrual). My wife owns an unbonded property that she lets. This means she has a lease agreement with the tenant
Read moreDoes a sole trader require signed financial statements?
Does a sole trader who is registered for provisional tax need to have annual financials done? Not necessarily, but he should have some financial documentat
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