Bond repayments on a rental property

  Written by Alicia   Posted 28 July 2016

Rental income which I have declared. The bond repayments, is that part of expenses? What about the extra R1000 which I put towards the bond repayment? Where does this fall? I did not enter it at all. Please help

How do I get the base cost?

  Written by Alicia   Posted 27 July 2016

I recieved a share scheme pay out. I do not have an ITc3? How would I go about completeing the capital gains portion of the document, as I do not have a base cost?

Is the interest from an inheritance in a foreign country subject to taxation in SA ?

  Written by Alicia   Posted 27 July 2016

An inheritance is received by a South African resident following the death of a family member in the UK. The bulk of these funds remain in the recipient's bank account in the UK, with some funds being transferred from time to time, when needed. How is this situation viewed by SARS? Is it necessary to declare this foreign asset together with the annual interest, bearing in mind that the funds originated in the UK, and as a result of an inheritance

Do I pay tax on hospital plan payout after a hospital stay?

  Written by Alicia   Posted 26 July 2016

Do I pay tax on hospital plan payout after stay in hospital?

Do I pay tax on the funeral plan payout?

  Written by Alicia   Posted 26 July 2016

My wife passed away in the 2016 tax year. Do I have to declare the funeral plan payout as an income when submitting my taxes? Do I pay tax on the funeral plan payout?

Previous Tax Returns missed? What to do?

  Written by Alicia   Posted 26 July 2016

How to do I submit previous tax returns that I missed (they required docs to be physically submitted). I want to get all my tax up to date so they can pay out what is due to me. Thank you

Notice from taxtim that my return is submitted

  Written by Alicia   Posted 26 July 2016

How will I know that taxtim have submitted my tax return

Tax paid for small business owner, PAYE and or Individuals tax?

  Written by Alicia   Posted 25 July 2016

Hi Tim, I am a small business owner, my company is registered, I have no other employees at the moment. Should I pay myself a salary so as to avoid withdrawing from the business account for personal use. Should I register for PAYE? Do I have to pay individuals tax too if I am registerd for PAYE? The business income is my only source of income?

Both employed and have a business run from home

  Written by Alicia   Posted 25 July 2016

Can I claim home office expenses if I run a business from home (at night) but I also work a regular 9-5. Also in this case can I claim Internet, cellphone, cleaning equipment?

Tax deduction for insurance on rental property

  Written by Alicia   Posted 22 July 2016

Can the excess I paid on an insurance claim be claimed as an expense on my rental property and are the proceeds from the insurance claim taxable?

How should joint rental income and expenses be split and declared?

  Written by Alicia   Posted 22 July 2016

My wife and I (married outside of community of property) jointly own a property (50/50). We rent this property out, and receive a rental income in doing so. The lease agreement with our tenant lists both myself and my wife as the lessors. The rental payment from the tenant is made into my own bank account, from where it is balanced into my wife and I's joint monthly household budget. There are also monthly expenses associated with leasing our property, such as maintenance, services, and bond int...

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Why am I registered for income tax

  Written by Alicia   Posted 21 July 2016

Hi I was working last year earning R3000 a month. I got an sms this year stating that I have been registered for tax accompanied by a tax number. I want to know why this happened?

How much tax must I pay annually if I'm a pensioner earning investment income only?

  Written by Alicia   Posted 21 July 2016

I am 70 years old. IEarn R180,000 interest lumpsum annualy. I have a wife without any income.

I've already filed a return can I resubmit through you?

  Written by Alicia   Posted 20 July 2016

I've already submitted my tax return for 2016, but have just discovered your website. Can I resubmit my tax return through you now for the same tax year?

No IRP5's

  Written by Alicia   Posted 20 July 2016

I worked for a company. They were liquidated and did not give me IRP5's or upload them to SARS. I don't have salary slips either. How do I submit my tax returns?

Tax due on extra income

  Written by Alicia   Posted 20 July 2016

I receive an extra income of R3640 per month - for the year it was R43 680. 00

What is the tax implications for this? I am not taxed monthly, but will it make a huge difference on my tax return for 2016?

Can i claim back the tax I paid while earning commission income?

  Written by Alicia   Posted 20 July 2016

I earned R50 000 commission for the year and paid R6000 tax, can I claim perhaps?

I then started a new job November last year, for which I have my IRP5.

Where will I complete investment income on my efiling return?

  Written by Alicia   Posted 19 July 2016

Where is savings interest declared

Tax on loyalty rewards

  Written by Alicia   Posted 19 July 2016

If a company gave an employee the right to use the company credit card for purchases at specific brands stores. If the employee has a loyalty card, and the company credit card purchases resulted in him earning a significant amount of reward points, what would the income tax implications be for the employee and their employer.

Rental property - Repairs and maintenance/capital expenditure

  Written by Alicia   Posted 19 July 2016

An individual moves out of their primary residence on eg 12 March 2015 to rent it out and purchases (and pays) for a new oven on 17 March to replace the existing oven which is not working properly. The oven is purchased so that there is a working oven in the property when a tenant moves in. A tenant starts renting the property from 1 July 2015 (only from July 2015 and not sooner due to not being able to find a tenant sooner). The oven is installed on July 2015 when the tenant is renting the property...

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Income calculator if work 4 months in tax year

  Written by Alicia   Posted 19 July 2016

I worked 4 months in tax year and was given severance package will I get a refund or must I pay in as the sars directive indicates no tax payable

Do you get a refund on extra provident savings done at work

  Written by Alicia   Posted 19 July 2016

If you pay an extra amount on your provident fund at work,do u get money back like you would with an RA

Due date for ITR12 2016?

  Written by Alicia   Posted 18 July 2016

What is the due date to submit my IRP5 to SARS for 2016, is it before 25 November 2016?

Medical claim for dependent

  Written by Alicia   Posted 17 July 2016

If the wife pays medical aid and he is a dependent can she claim on her tax return the out of pocket expenses for him

Tax on R8315?

  Written by Alicia   Posted 17 July 2016

Hi on behalf of my friend she earn R8315 a month how much tax must she pay?
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