Can TaxTim file my company's return too?

  Written by Alicia   Posted 15 June 2016

Does TaxTim also help with filing a tax return for a private company?

Allowable tax deductions for a company?

  Written by Alicia   Posted 15 June 2016

I work for myself running a trading business. I purchase a cell phone for my business for 10k and a coffee machine for my office for 12k. Are these fully deductible in the current tax year they were purchased?

Medical Insurance - Do I put that on my tax return?

  Written by Alicia   Posted 14 June 2016

I have been submitting my tax returns for many years and use to include my Medical (which is a hospital plan with Liberty but not viewed as a medical aid, which I found out in 2015). I contribute to this on a monthly basis and pay my own medical bills i. E. Doctors visits, dentists, optometrists, etc. Only medical procedures in a hospital is covered by my hospital plan. As it is not tax deductible seeing as it is not a medical aid, do I now even bother to mention it on my tax return although the...

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Vat implications on mobile apps

  Written by Alicia   Posted 14 June 2016

are there any vat implications on mobile applications in south africa? please make reference to the vat act if possible. if not, how are the mobile applications currently treated?.

Is SARS open on public holidays?

  Written by Alicia   Posted 14 June 2016

Is SARS open over the public holidays and if so up until what time?

Where is my logbook?

  Written by Alicia   Posted 14 June 2016

Hi! This might sound silly, but I have your logbook, I just want to know where is that information stored and how do I access it? I might just be looking in the wrong place but I cant find it!

How many "Trade and Professional Income" sections on an ITR12 does a freelancer need?

  Written by Alicia   Posted 14 June 2016

I'm a freelance creative in the television industry. I work with many clients throughout the year, some deduct PAYE and some pay me the full amount on the invoice. The first question is for those clients who don't deduct tax. I've been working on my tax return on the SARS E-Filing. On my ITR12 I've added a "Local Business, Trade and Professional Income" section to the form, do I create a section per client or per job type? As I'm trading different services for different clients, but I may have 3...

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Tax deduction on UIF & SDL

  Written by Alicia   Posted 14 June 2016

Can you claim UIF and SDL contributions from the tax

What is VDP?

  Written by Alicia   Posted 14 June 2016

What is a VDP agreement

I'm unemployed, can I get a tax number?

  Written by Alicia   Posted 14 June 2016

Can I be able to get the tax number if I haven't been in a workplace?

old nil returns

  Written by Alicia   Posted 13 June 2016

my wife would like to use your service. Her scenario, she used to work up to 2009, then became a housewife till mid 2015 when she started working again. Before, she never earned enough to file tax returns (dunno if that's still effective). She does have a tax number and would need to do her tax return this year. Se started working 1 July 2015. Would the lite or smart package be sufficient and is she most likely looking to have some penalties?

In which country will I declare my last income earned in South Africa

  Written by Alicia   Posted 10 June 2016

Hi

November last year (2015) I left south Africa to move to UK to be closer to family, I was born in South Africa but I hold two citizenship's one is South African other British. I was working in South Africa for a few years but had no assets over there other than what I had in the bank. I got a job this side a couple months ago and been working here just wish to find out what happens regarding tax return for South Africa?

before I left I did get a tax clearance certificate...

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Foreign investment account

  Written by Alicia   Posted 10 June 2016

What are my tax liabilities if I open a bank account (from SA) in the UK, transfer funds into that account and then bring those funds back into SA after a period of time?

Can a business in the turnover tax system register for VAT.

  Written by Alicia   Posted 10 June 2016

A business is registered for Turnover Tax. To procure more work, he wants to register for VAT. Is he allowed to do so. Is there an official document to confirm this

CGT on transfer of shares

  Written by Alicia   Posted 10 June 2016

Hi
My client started 2 companies and was the 100% shareholder
He now wants to transfer the shares to his holding company
With regards to the cgt calculation can a simple valuation be performed for the deemed proceeds or does SARS require to have it done by a professional
Also - what can we add to the base cost
Can we add the legal costs to create the agreements for the transfer of shares?

May I deduct medical aid contributions as a non-principal member

  Written by Alicia   Posted 10 June 2016

I am listed am listed as a dependent on Discovery health with my wife as the principal member. However I pay the contributions for my wife, my son and myself. She doesn't earn an income and is therefore not liable to pay tax. The tax certificate from Discovery is in her name, can I claim the medical expenses and premiums as medical deductions on my IT12. I reference these articles and would like to know if the information in these is still valid as at June 2016

1) South African Institute of Accounting Professionals article from 2012:...

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Vat for services received and rendered in Botswana

  Written by Alicia   Posted 10 June 2016

We a South African company providing a service in Botswana for South Africans. When invoicing our customers do I invoice with vat?
Can I claim input vat for expenses incurred in Botswana? Botswana vat is at 15%..

How do i claim travel expenses if I used 2 cars

  Written by Alicia   Posted 10 June 2016

I moved from one employer last year at the end of November. I used a company car, on which I attracted fringe benefit tax. In December 2015 I started with another company, and received a car allowance. I am able to claim business km's for which I am reimbursed at a rate of R3. 29 p/km (subject to monthly logbook submissions). What are my likely tax implications for this filing season based on this, and will I able to file in way to accommodate both scenarios?

Is loan repayments taxable?

  Written by Alicia   Posted 10 June 2016

I own a business where I borrowed money to buy the business. Will I pay tax on the capital portion of the loan repayment.

Tax free lump sum portion

  Written by Alicia   Posted 10 June 2016

I am 53. Recently divorced. While married we contributed to a provident fund which was handed over to Investec for management after my first husband stopped working. But he did not implement retirement He took a sum of 570 000 from his provident and paid 18 percent tax on that. Now that he has implemented retirement we both wanted to claim the 500 000 lump sum tax free that we were promised by our financial advisors. I cannot get my bit because I am under age and he cannot get his 500 000 tax f...

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Completion of income forms for the CIPC

  Written by Alicia   Posted 10 June 2016

I am full time employed and have started a small business on the side. The business is registered with CIPC and has its own tax number. I needed help to do the tax return for the business and I would like to find out best to cover my business costs and what is the CIPC annual tax return?

Tax number needed for unemployed person

  Written by Alicia   Posted 10 June 2016

I wanted to to make a international payment to fund my international forex account, but at the bank they told me I need a tax number in order to make the transfer. So is it possible to get a tax number even though I'm unemployed?

which tax year do i file for?

  Written by Alicia   Posted 10 June 2016

What year must I choose if I do my tax return now

Tax on backpay

  Written by Alicia   Posted 10 June 2016

Im supposed to get a back pay at the end of June owed to me from September 2016. The total amount im expecting is 63000 before tax. Exactly how much will I be taxed?

Rebates for both primary and secondary tax payers

  Written by Alicia   Posted 10 June 2016

Require amount of rebate (primary,secondary,and Tertiary) for 2/2017
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