Tax Q&A

What is the limit on taxable interest from investments per year?

What is the maximum amount of interest I can receive on my investments for a year, before I begin to be taxed? I am not married. I have a Fixed Deposit and I

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I have to do the IRP5 only

I have the IRP5 not the IRP6 or 12. Why I did not get that option? The IRP5 is the document you use to file the ITR12 which is the actual annual tax return

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Filling a rfc

If I submitted a tax return and uploaded supporting docs and then realized I made a mistake can I file a RFC You can click, Request Correction and refile

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How to declare other income, if when combined with interest income is still below the threshhold

I resigned my job to study. I have an income on an investment of - R7000 pa and I did some adhoc consulting for a company for which I earned R30000. My wife'

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Tax already paid only dividend income

Do I included foreign and/or local dividend income on a unit trust if it has already been taxed as per my IT3b Local dividends you would not include, but

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Allocation of rental income on jointly registered bond.

My partner and I rent out the garden cottage of our primary residence, the bond of which is jointly registered in both our names. We are not married. The rent

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What type of forms to submit to represent your vehicle logbook

When asked to submit your logbook to SARS, can I use the petrol claim forms for the starting and ending month of that financial year or should I include all t

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Do I need to fill in a return?

I receive a disability pension and it has become tax free. Do I need to fill in a tax return? Do you earn any other income at all? No other income. I

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Meaning of efiling status

What does it mean when your SARS eFiling status shows Filed. It means your return has been submitted to SARS. Did you not receive an assessment from SARS?

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Provisional Tax on TaxTim

I need to pay provisional tax on additional income I am earning this year. Do you guys do this as well? Yes, we do - if you navigate through our website to

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DOES TAXMAN TAX PERFORMANCE BONUS IN PUBLIC SERVICE

DOES TAXMAN TAX PERFORMANCE BONUS IN PUBLIC SERVICE Unfortunately yes, the bonus will be added to your salary and taxed the same way per the tax tables.

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Subsistence allowance expenses

If I received a taxable subsistence allowance, but did not keep record of expenses (or proof) will I be able to deduct a deemed expense on my tax return.

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How do you calculate holiday pay taxes.

How do you calculate annual leave pay taxes. This will be added to your salary and taxed at your marginal rate of tax.

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Need eFiling Registration Form to send along with ID copy to complete registration process

I have just registered for SARS eFiling and still need to wait 24hours for verification to be complete. I then received an email telling me to complete the re

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Maximum amount of money received as a gift before being taxed.

I received monetary gifts for my weddings, kitchen tea, bachelorette party and engagement party. I deposited the money on a monthly basis to avoid one big amo

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How should I complete the ITR12 form without a IRP5?

I was employed full-time until end of September. After that I did locum work. I don't have an IRP5 for this period, since I was never permanently employed. Ho

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Documents for verification with SARS?

I submitted documents for verification last Friday via your site to SARS. I've still not heard anything from them. How long do they take to respond? Do they r

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Multiple rental properties

I have multiple rental properties. Do I add all the income and expenses together? On the SARS form, it was always specified separately It depends on the na

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Supporting documents

Hi Tim, I am going through a bit of a nasty divorce and I was working for my inlaws, Submitted my tax return and SARS is now asking for supporting documents.

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Income from car sold, in behalf of someone else

I bought a car for my mother as she is not credit worthy. She sold her old car and that money was paid into my bank account. I use that money and an extra R20

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How do I pay tax as an independent contractor

I am an independent contractor. I started working part-time but have since progressed to full-time. Previously I did not earn enough to qualify to pay tax. Ho

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Tax percentage on provident after resignation

I have been employed for 3 years . Provident fund I approx 45 k. What Is tax percentage since I have resigned. ? Please make use of our Lump sum calculato

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Capital Gains Tax of a property that was 5 years primary residence and then 6 years Rented out?

I have a second property that was my primary residence for 5 years (bought for R200k) and then rented it out for another 6 years. Not I sold it (R500k). Do I

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Registering for tax

Hi, im working now as a temp for only two months. However in the past I have never had the need to pay tax because I have never earned that much per year to

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How will the last year tax returns affect the new year if its not paid?

If I have an outstanding amount to pay, will it affect the new year tax returns? There will be a penalty and interest charged on the outstanding amount if

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