Tax Q&A

Provisional tax or starting a CC?

I am currently employed by a company and earn a fixed monthly salary. I have however started manufacturing and selling goods in my private capacity, completel

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Closing date 2015 ?

Closing date 2015 This was 27 November for salaried employees.

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Multiple IRP6 payments for a specific provisional tax period submission

Is it advisable or unadvisable to make multiple payments on a specific IRP6 for a specific provisional tax period? I have underestimated my income for a speci

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Bank particulars

May I have the bank details for SARS? I am in KwaZulu-Natal If you are trying to make a payment to SARS, you must go into your online banking and SARS will

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Interest - file an objection or request a correction

I have been requested to submit additional documents. Turns out that I hadn't included the interest earned (I wasn't aware that I had to do this)After getting

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Can I claim back on disability for my child attending a remedial school?

My child attends a remedial school which was recommended by a psychologist. Can I claim back on these fees as a disability? The tax benefit arises due to m

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How do I fill in my tax return for income received for local service from foreign employer

I worked on a local project for an international aid organisation. I did not receive an IRP5. I was paid from an international account. How do I file this inc

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Document/records storage

If I change to SARS eFiling with your assistance, where would my tax records be stored. & who stores them -- SARS, Myself, Tax Tim?? Good question. TaxT

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What is the tax bracket?

If I earn R6100 per month do I have to pay tax? Yes, please make use of our SARS income tax calculator to see the tax payable on your salary

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Closing date ITR12

What is the closing date for submitting the ITR12's For salaried employees it was 27 November 2015 and for provisional taxpayers, it is 31 January 2016. How

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SARS Tax return dispute

Good Day, I have submitted my tax return and I had some of the information incorrectly filled in. I need help with submitting correctly and I believe I've bee

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Capital Gains Tax on foreign shares

Hi guys, I have a Dutch client. He moved here and bought a home in 2012. He had foreign (FTSE and S&P) shares which he has just sold for a small profit. My un

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What would be the amount of tax we would have to pay and why.

Bought vacant land contract dated 5th October 2001 in a cc, for R87764. 00, became the members on 7th January 2002, what would the tax implications be if I

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Loan to Company to purchase goods

I have a EME business and from time to time I use my private bank account to purchase items for orders I receive. When I then get paid by the customer I just

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Cap on non-taxable pension fund lump sum withdrawal

In the past tax year I worked for 3 companies. Got paid pension fund by 2 of those companies with total pension fund being below R20kOn the IRP5 from the comp

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Tax benefits when not earning income the entire taxyear

Hi I am born in SA and moved abroad 25 years ago. I will be living and working in SA for the next 2 years. My start date is flexible. I believe the income tax

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Med Aid claims

I am 74 years old. What out of my own pocket medical expenses can I claim? These are expenses not reimbursed by your medical aid and would include prescrib

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Payment Periods

With regard to Provisional Tax:When SARS refers to the periods 2016-01 and 2016-02 (see below) is SARS referring to the months i. E 2016-01 = January and 2016

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Tax for a full time student employed full time.

Hello Tim,If I earn R8000 per month and are registered as a full time student but also employed full time and at a permanent post at my employer what will my

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Does provisional income/ capital gains count towards income iro RA contributions?

I own a business and I draw a standard non- pensionable salary of R1 440 000 (120K p/m). I pay R360k (30k p/m)to an RA. Which means I actually don't earn enou

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How do I create a SARS efiling form for outstanding 2009 tax year?

Upon filing my husband's tax returns for 2015, they asked for supporting documents (same as 2014) which I then submitted. After waiting for 2 weeks, I contact

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Will I be penalized for not filling in a tax return for last year and this current year

I have been working for 2 years now, I started 3 December 2013 and I never filled in a tax return before. I only became a permanent employee 1 April 2015 and

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Medical rebate not given by SARS

My company paid medical premium for me for the period 1st Mar 2014 to Feb 2015. For first half of the year it was with one medical vendor and then for the sec

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Why is it taking so long to receive the pay out, is there something I missed ?

I submitted my tax return via SARS eFiling and received the ITA34 - and notifications saying that SARS owes me. I submitted the tax return on the 25th. People

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They wanted. My irp 5 for 2011

SARS told me yesterday that I did not submit IRP5 for 2011, I have a copy, how do I submit it to them You can submit your 2011 Tax Return and IRP5 at you

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