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Do stay at home moms need a tax number?

Posted 7 March 2017 under Tax Questions

Hi I'm a stay at home mom with no income. I live in South Africa. Someone said I should get a tax number. Do I need a tax number? Will it be necessary in my future in case I divorce or am widowed or a senior? Shall I pursue it? How would it benefit me?

Can my company add rental car fuel to my car allowance?

Posted 28 February 2017 under Tax Questions

If I have a car allowance and on occasion I am required to use a rental for business travel after flying to a far destination, can my company add this fuel cost to my car allowance and withhold taxes on fuel used in the rental vehicle

I repair appliances and also repair my own vehicles.Do I have to do 2 returns?

Posted 27 February 2017 under Tax Questions

I'm repairing appliances and my own vehicles. Do I have to do 2 tax returns?I also recently repaired another vehicle. Do I have to show it in 2 tax returns-1 for appliances and 1 for vehicles?I have to repair my own vehicles because I cannot afford to pay for repairs to be done.

Inclusion of rental expenses in CGT calculation

Posted 24 February 2017 under Tax Questions

If I earned no income from a rental property (which I rented out for about 7 years) and sold it in the same year, can I still deduct the expenses (levies, interest, rates) normally incurred from income, or should I add these costs to the Selling cost or Base cost to reduce capital gains tax?

Tax on income from internship

Posted 24 February 2017 under Tax Questions

Do I have to pay tax earning R3200 a month?

Will the reason given on a tax directive affect SARS's decision?

Posted 24 February 2017 under Tax Questions

Will the reason given on a tax directive affect SARS's decision; if the severance benefit is being paid out as a result of a voluntary settlement between employee and employer, is SARS less likely to grant the directive?

Is occupation rent an allowable deduction against rental income?

Posted 24 February 2017 under Tax Questions

Is occupational rent paid to a developer, of a new-build property, an allowable expense to deduct from taxable rental income? The property in question was rented out in the same tax year as occupational rent was paid.

What is your fee for retired farmers?

Posted 24 February 2017 under Tax Questions

I am a retired farmer with only rental income which I earn from renting out my farm. My income is R500000 per year. What will TaxTim cost?

Can I resubmit 2016

Posted 24 February 2017 under Tax Questions

Submitted 2016 tax return but i need to know if I can still resubmit the return even after an assessment was issued?

Which base cost to use when calculating CGT?

Posted 24 February 2017 under Tax Questions

I bought some Satrix Divi through the Satrix Investment Plan in Aug 2007. All dividends were reinvested by Satrix, ie every quarter more shares were bought. In July 2011, I transferred all of my "units" to an online broker and made no further purchases. For the first few months, my statements from that broker show a base cost per share of 0. Suddenly, in the March 2012 statement, it lists a cost per share, which appears to be the share price on March 16 2012. I have just sold these shares. When calculating my capital gain, can I use this base cost as listed on my broker statement, or do I have to go back to my Satrix records and work out the cost of each quarterly reinvestment over the 4 years, net of fees - quite a laborious exercise!

Do I need to file a tax return with R260 000

Posted 24 February 2017 under Tax Questions

I am unemployed but earn interest income ( approximately R260 000 annually)from fixed term deposits
I am under 65 and contribute to medical aid and retirement annuity
Do I need to file a tax return

Procedure for replacing present accountant with TaxTim

Posted 24 February 2017 under Tax Questions

I have an accountant doing my tax return at present, what would be the procedure for taking my present accountant off my tax account, and replacing him with you?

Company Assets

Posted 23 February 2017 under Tax Questions

I own a small business and sold a company vehicle for more than I owed the bank is this profit on sale of assets?

Do second-hand purchases count towards expenditure?

Posted 23 February 2017 under Tax Questions

Can I purchase 2nd hand equipment as an asset for my business and then add that full amount to my business costs? The item will come in under R7000, so I believe I can write the depreciation off within one tax year.

Why 2 returns in one month?

Posted 23 February 2017 under Tax Questions

I have just filed a tax return in February 2017 and have to pay in an amount by end March 2017. Why am I asked to file ANOTHER tax return for provisional tax before the 28th February 2017?

Should he pay tax?

Posted 23 February 2017 under Tax Questions

My husband is a South African citizen and he is only earning R5500 a month does he have to pay tax?

SARS wont refund me

Posted 23 February 2017 under Tax Questions

I was a contract employee for 3 months after graduating and was taxed an amount of R4500 on a total income of R18000 for the 3 months. When I submitted my tax return, SARS said that I need to come and verify my banking details, but they dont have my banking details, what can I do to get my refund?

We earn little so should we be taxed?

Posted 23 February 2017 under Tax Questions

I work for a small company and all of us earn salaries ranging from R3 000 to R4 500 and only the owner earns R25 000. So now the company wants to register for PAYE and UIF. So after reading through most of your articles and many other ones online I discovered there is a minimum amount per year that you have to earn and none of us reach that amount except for the owner. So does this means that the company can register for all those but not deduct anything from the rest of us but himself?

2017/2018 Budget - The rich are going to pay more, but what does that mean for the rest of us?

Posted 22 February 2017 under Tax

Personal Tax Rates (rates below)

Individuals across the country, those qualifying above the new tax threshold of R75 750 (previously R75 000) will be paying increased taxes of R16.5bn (previously R5.65bn in actual tax increase) for the next tax year, most of this will be for high income earners, however. Taxpayers generally across the board will be earning the tiniest bit more money each year as their tax brackets have shifted outwards, but, due to high inflation these savings will still be affected up by increased prices and so the minister has hardly been kind to taxpayers here.

 

The HUGE change announced by the minister, this year, is the addition of a super bracket for the wealthiest individuals who are earning more than R1 500 000 per year...

Read more →

How will tax work on my bank account with other peoples money in it?

Posted 21 February 2017 under Tax Questions

Me and five members of my family want to start investing. Before the profits will be paid out the company that does the investments does the tax part on it and then pay us the profits. What I want to know is, if they pay the family members profit into my bank account with my profit will there be any problems with tax on my side because all the money is going to my account. The company will send each of us an IRP5 at the end of the season so that each of us can fill in our tax return.

SARS refund document verifiction

Posted 21 February 2017 under Tax Questions

Hi, I have filed tax returns with SARS through a practitioner in 2016 for the period (Aug 2015 - Jan 2016) when I was working in SA but I have been notified by SARS to verify bank account and address. As I am not staying in South Africa any more and currently in USA, can not go personally to SARS branch. There are some additional things to this now. I sent scanned copied of the documents like address proof and FNB bank account confirmation along with employment proof and passport to practitioner but he refused to help me, can you tell me what else I can do?

Getting paid in dollars

Posted 20 February 2017 under Tax Questions

Hi, I am working for an overseas startup. I get paid in dollars. For the last six months I have been getting $500 a month. Starting this month I will be getting incentives as well. It is below the salary for tax but I'm not sure how it works with an overseas company?

Rental expenses claim during the next tax year

Posted 20 February 2017 under Tax Questions

If I spent more on maintenance of my rented granny flat than I earned in rent can I offset it over several years?

Is this allowed by SARS?

Posted 20 February 2017 under Tax Questions

Can I contribute 27.5 of my income to a pension even if my employer only allows me to contribute 10% through them to our work pension fund?

Tax on CCMA settlement

Posted 17 February 2017 under Tax Questions

I am about to receive a CCMA settlement and was told by my previously employer that I will be taxed on it, is this right as this will be my first income after 8 months of fighting for it?
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Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Let TaxTim
help you
submit your
Tax returns!




TaxTim will help you:

  • Do Your Tax Return Easily
  • Avoid penalties
  • Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS
in just a few clicks!

Get started