What value to use in wear and tear calculation - vehicle

  Written by Marc   Posted 1 October 2015

What to include in the price when calculating wear and tear on a company vehicle? Service plan, window break-in protection, VAT, Finance initiation charge, interest?

Do I have to pay tax if I earn R6000 basic commission?

  Written by Evan   Posted 30 September 2015

Hi, I would like to know how do I get taxed if I get paid a basic salary and commission? My basic is R6000 and get commission of 10% on each services after I have made over R10 000. Please help!

63 old, interest income R13500/mon and will contribute R2640/m towards medical.Tax payable?

  Written by Marc   Posted 30 September 2015

Hi,
I'm 63 and retirinmg with an interest based income of R13500. 00 /month. I'm contributing R2640 towards medical aid. How much SARS tax will I be liable for. Thank you

How do I submit 2007 return without documents?

  Written by Marc   Posted 30 September 2015

SARS is requesting that my husband submit a 2007 tax return. However, he was only working certain times during that tax period (as a freelance contractor) and has no IRP5. He contacted the company he worked for as well, and they have no record of a IRP5 as well. What do you advise him to do now if he has no documents for that tax period? He may be able to get a record of his retirement annuity contributions, but that is all.

Help with IRP5 doc online

  Written by Marc   Posted 30 September 2015

My employer does not want to give me my IRP5 form for me to find out how long I worked there in 2012. Is there any way I can see my IRP5 forms online just to get dates? I really need to know that info. Ive got my tax number and that is basicly all ive got. Please help

I would like you to explain what the meaning is

  Written by Marc   Posted 30 September 2015

Good morning I got this sms from sars




tax period 2014 due to you -2124. 12

tax period 2010 due to you -668. 82

tax period 2011 due to you -2183. 27

tax period 2015 due to you -2300. 06

tax period 2013 due to you 2300. 00

payment due the 1st October and 31st October

what does this mean

Tax Return for contract work?

  Written by Marc   Posted 30 September 2015

I worked for a contract of 3 months was earning R20 000 per month TAX was deducted from my salary, is that possible? I wanna know if I can go to SARS & claim my money back. Thank You!

Capital Gains Tax - capital growth before tax was implemented?

  Written by Marc   Posted 30 September 2015

I owned a piece of land. Acquired in 1998 for R60 000. The land was sold in 2014 (this tax year) for R300 000. The agent fee for selling was 5%. I know the Capital Gains Tax was only implemented after acquisition. Please advise whether the calculation for capital gains tax is able to take into account some appreciation in value between 1998 and the year when the tax came in.

As a sub-consultant should the company I do work for deduct tax?

  Written by Evan   Posted 30 September 2015

What is the difference between a sole proprietor and sub-consultant. I am a sub-consultant and work on an hourly rate. My income is not the same every month. I use the companies' offices from time to time. I have been a sub-consultant since August 2015. The company deducts tax from my monthly income and will provide me with an IRP5. My question is should they deduct tax?

Does 4001 get added to personal contribution to RA to make up 4006?

  Written by Evan   Posted 30 September 2015

If I pay my own RA in addition to my employer as reflected on IRP5, as 4001, do I add this to my own contributions under 4006?

Can I claim travel expenses without having a travel allowance?

  Written by Evan   Posted 30 September 2015

Can I submit a travel log book with my tax return if I do not have a travel allowance and if my commission is less than 50% of my monthly income?

Income tax on foreign income from UK

  Written by Evan   Posted 29 September 2015

Hi Tim. I work in South Africa but for a UK company. They don't have a company registered here, just a warehouse that I work from. My salary gets paid in US dollars from the UK company so I don't get an IRP5 or PAYE etc deducted.

How do I go about sorting taxes? Do I submit a personal income tax return each year declaring the money I receive and pay the relevant tax on that?

Is salary and overtime money taxed separately?

  Written by Evan   Posted 29 September 2015

Can income tax be charged from an income alone and not from an overtime money?

I got my IT statement and it says electronic refund. Should I expect the refund tomorrow?

  Written by Evan   Posted 29 September 2015

Hi Tim

I got my IT statement and it says electronic refund on 30/09/2015 should I expect the refund tomorrow?

Car Deductions on Commission

  Written by Marc   Posted 29 September 2015

Hi Tim, I am a Commission earner and I claim back on my vehicle usage on depreciation and logbook. When I claim back on my car usage, I keep a logbook as well. But my question is, can I claim back on a paid up vehicle? or do I have to still be paying monthly towards finance. Does the finance amount help with increase my tax return from SARS. Eg if im paying R2500 or R2000. Which will yield a higher tax return?

Deadline: Manual Versus Via Tax Practitioner

  Written by Evan   Posted 29 September 2015

Hi there, when is the deadline for submitting manual income tax returns?

I had submitted my income tax returns via my tax practitioner and when is this tax practitioner due to meet before the deadline reaches?

VAT on new vehicle for commission earner

  Written by Marc   Posted 29 September 2015

As a Commission earner and using my vehicle for business purposes. Can I claim the VAT back on purchasing a new vehicle?
also what can I claim on the interest portion?

Statement of Tax invoicing

  Written by Evan   Posted 28 September 2015

Hi, I submitted a tax return via SARS eFiling which tax returned an assessment that I owe SARS R2500. Puzzled by this I asked a friend and she advised that I had entered the number of dependents for Medical Aid incorrectly. I filed a correction and SARS now owes me R2700. The statement, however reflects an amount of R200 and reflects the incorrect R2500. Surely that shouldn't count or am I missing something?

I called SARS and was told they focus only on the original assessment. I am ...

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Calculation regarding lump sun withdrawal benefit?

  Written by Evan   Posted 28 September 2015

How does the calculation work regarding lump sum withdrawal benefit (3920) from Sanlam Life Insurance Ltd and is the any deduction on that amount?

Tax on Dividends

  Written by Marc   Posted 28 September 2015

I have a small business on the side line where my wife and I are 50/50 owners of the company. I have a job but she does not. Is it best to only declare dividends to her?

Can a sales representative claim on car installments?

  Written by Marc   Posted 28 September 2015

I just started a new position as a sales representative, and the car I am currently using is quiet old. As I will be travelling a lot to see clients I would like to buy a new reliable car. Would I be able to make a claim on the monthly installments for this new car, as it will be used mainly for work? If so, what percentage can I claim?

Gross income reflected under incorrect source code

  Written by Evan   Posted 28 September 2015

My IRP5 incorrectly reflects my income received as Gross Retirement Funding income (3697) instead of Gross non Retirement Funding income (3698) - How can I fix this?

Married couples and CGT on sale of primary residence

  Written by Evan   Posted 28 September 2015

If a couple is married in community of property, does the Capital gain on the sale of their primary residence get split between the two on their tax returns (if the CGT profit is over R2 mil)?
i.e, do they each pay 50 % tax on the profit?

When will money show into my account

  Written by Marc   Posted 27 September 2015

SARS owes me money

How do I dispute an Additional Assessment issued by SARS that is not correct?

  Written by Marc   Posted 27 September 2015

Hi Tax Tim

I am very pleased with the work that you are doing here. Keep up the great work!!!

I submitted my tax return to SARS about a month ago and they selected me for verification/an audit because I had a refund payable to me. I submitted all the documentation they required (logbook, receipts etc), but they have recently responded with an addditional assessment stating that I owe them money - which cant be the case, as I am a 100% commission earner (with no basic salary) and I dont have a tax directive...

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