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Start of employment period on tax return

Posted 21 November 2012 under Tax Questions



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I would like to know I am permanently employed and started my employment a few years ago and still am. Which dates should I fill in when asked to input earliest month of employment?

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TaxTimTaxTim says:
21 November 2012 at 19:05

It would be the earliest month for the tax season you are completing a return for. So for 2012 it would be 1 March 2011.


Lance says:
21 November 2012 at 19:58

Ok and the end period?


TaxTimTaxTim says:
21 November 2012 at 20:03

It would be the last day of the tax year, so for 2012 it would be 29 February 2012!


Lance says:
21 November 2012 at 20:15

Does that mean I can only claim for medical expense that I had to pay for that period? I had medical expenses billed in February but I only paid my accounts in August. How do I claim for that?


TaxTimTaxTim says:
21 November 2012 at 22:37

If the medical expenses were billed in February, but only paid for months later you can still claim as the expense was still incurred to you in the 2012 tax year!

Yes you can deduct the R30, we will pick it up. Please send confirmation of payment to marc@taxtim.com and include the user login name you used so we can release the return and further instructions!


Lance says:
22 November 2012 at 7:52

I also need to know I borrowed people money an amount of R5000 and the person never paid it back can I write it off under bad debts? I have proof


TaxTimTaxTim says:
22 November 2012 at 9:24

Unfortunately lending someone money does not qualify as a bad debt write off, but it is actually a capital loss. However at that amount there will be no tax benefit to including it in your return. If you do wish to then, you would include it under the capital gains/loss section - base cost 5000 proceeds 0.


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