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I am a commission earner and earned R 486 342 but my tax assessment states that I owe SARS R2327719

Posted 28 November 2015 under Tax Questions


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Butholezwe says:
27 November 2015 at 20:16

I am an estate agent, I've submit my tax returns and have received a shocking assessment of R2,327,719. 96
I earned R486 342,00 in commission from selling property. I suspect I might have made an error where I was asked about turnover and I put the value of the properties that I sold which is about R7,000,000 and am afraid SARS wants to tax me on that whereas I only received and average commission of about 5%. Kindly advise how I rectify this.

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TaxTimTaxTim says:
28 November 2015 at 0:15

You need to file a correction and only put the value that you received as income and not the entire amount of the property. You only include your incomes and expenses that you earned and spent.


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