Tax Q&A

Can you do dispute on my behalf via eFiling?

Hi Tim, I am an estate agent and SARS IT34 reflects I should pay them -R20k 2015 Taxyear.. I think I completed the forms incorrectly on e-filing. I now wish t

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Contribution to ex-wife maintenance for children tax deductible?

Are contributions to non-working ex-wife's medical aid as part of child maintenance agreement deductible, she is the main member. Yes you will be able to

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Company car versus personal car and travel allowance

A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work. What is the most beneficial method in terms of

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Tax payable on sale of shares

I am a pensioner 71 years of age. If I sell shares in a company to the value of R33,000.00 and my annual income is R120,000 what % tax would I have to pay on

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Is there donation tax payable on a gift?

I am selling local property and want to send my two non resident daughters R100 000 each as a gift. Does donation tax come into the picture? Donations to n

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Tax on resignation from Provident Fund

What tax will be due on an amount of R138 500.00 when I resign from a Provident Fund? Please make use of our Lump sum calculator to work out the tax. Reme

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Exempt amount of interest

What is the Interest exempt amount for year ended Feb 2016. For under 65 year olds R23 800 and over 65 year olds R34 500.

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Taking medical aid tax credits into account in provisional tax calculation

Hi there, I need some help completing my second provisional tax return. My employer deducts my medical aid tax credits (for myself and a dependent) each month

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Do you pay tax on a negative profit?

What percentage of your company profits do you pay to tax, if you didn't make any profit and ended in a negative, do you still pay tax? No you will not pay

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Dividend Witholding Tax

When you have to pay Dividend Tax can the Company Director handle the DWT and pay the 15% Dividend Tax to SARS or must you use a Regulated Intermediary? Th

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Can I claim VAT input even though I haven't charged VAT output?

My PTY(LTD) voluntarily registered for VAT, However I have not being charging vat on the supplies my company makes and have not issued valid tax invoices for

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Pension money deduction

Wat will be my tax deductions on my pension money estimated at R2 989 747,00 Please make use of our Lump sum calculator to work out the amount owing.

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What type of tax for self-employed?

I am self employed by a british company that pays me directly into my bank account. What tax type do I fall into? I do not earn a large salary. You would

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is a marriage by muslim rites included in the definition of a spouse regarding donations tax?

What should I select for marital status when filing tax return, religious marriage (married by muslim rites) usually muslim marriages are ANC however we have

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Please calculate my tax liability for 2016

I am 44 years old, unmarried and my taxable income for the 2016 year of assessment is R215,000. Please make use of our SARS income tax calculator to work

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An accountant submitted wrong information to SARS on my behalf

Hi, an accountant submitted my tax returns from 2009 to 2011, and when I found another job in 2012. I requested her to submit in 2012 and she refused. I submi

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2014 year of assessment includes which months for a 30 June financial year end?

If my financial year end is June, which months fall under the 2014 year of assessment? It would be 1 July 2013 - 30 June 2014.

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Lawn mower purchase

We are a NPO and want to know if we can write off an lawn mower bought for cash second hand for R9000. 00 The limit is R7,000 for small asset write-offs.

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Donation tax between spouses

I receive a government pension, interest from investment and income from consultation work. My total income put me in the maximum bracket of the tax tables. M

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Wrong tax reference number on my IRP5

When I was preparing to submit my tax return I realized my tax reference number on my IRP5 was incorrect and its my first time submitting a Tax tax return, th

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Is medical aid contributions paid in full by employees tax refundable

I was the principle member of my Bonitas medical aid and was paying R2,076 of the total premium of R5,788. My company paid the difference. Now I resigned and

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Donations tax to my sister

Hi Tim I recently bought my sister a car to the value of R150k, do I pay 20% donation tax on the full amount? There is an annual exemption of R100,000 per

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Tax Reference Number from overseas.

Hi there, My name is Daryl Fortuin and I'm living in New Zealand for the last 11years.. I've applied for my pension fund in South Africa through The Building

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One month employee

Hi,Do I need a IRP5 or do the tax return if employed for a month and on probation? Yes if you are earning income from an employer you will receive an IRP5

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Am I a provisional tax payer if I am fully employed by a foreign Co but permanently reside in SA?

I have taken the test to see if I need to be a provisional taxpayer and it states that I should not. However, I am employed by a London-based organisation and

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