Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Tax enquiry regarding deductions and insurance payouts?

Posted 6 June 2014 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
A client has broken his fingers and cannot perform his work commitments as a personal trainer and actor. He is trading as a sole proprietor. First question is, will he be taxed on his payout for impaired benefits from his insurance company? Secondly, what supporting documents need to be submitted to the insurance company for this payout? Thirdly, what expenses can be deducted from a client who is either a model/actor that is paid via an agent?

This entry was posted in Tax Questions and tagged , , , . Bookmark the permalink.

TaxTimTaxTim says:
15 June 2014 at 21:32

The broker will let you know what documents you need in order to receive the payout and also if it is taxable or not, this will depend on the nature of his contributions.

Who is looking to deduct the expenses?


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →