Is it the building size or stand size used for home office calculation?

  Written by Nicci   Posted 21 March 2016

I have a home office and I want to know in terms of the calculation for the percentage of the home being for the office is it the entire stand size of the property or just the building size?

SARS, bitcoin wallets and disbursement of BTC funds

  Written by Nicci   Posted 21 March 2016

However, there are a number of issues that I cannot get to grips with regarding the storage of BTC in a wallet and the further use of BTC outside the fiat system:

1) If I moved my BTC to a wallet provider outside of SA (blockchain, based in Luxembourg but servicing globally) does SARS see this as an offshore transaction? as:
a) The wallet provider is not a registered global institution as such. b) No interest is accumulated to this wallet / amount, so no income is generated.
...

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Tax payable on gift from family abroad

  Written by Nicci   Posted 18 March 2016

What are the tax outcome to inherit R500,000. 00 from family abroad and tax outcome if I receive it as a gift?

How does sequestration and outstanding tax work?

  Written by Nicci   Posted 18 March 2016

If you have a voluntary surrender of personal estate (sequestration) and there is a tax amount outstanding is it payable or does it form part of the estate?

Is the tax refund date on statement accurate?

  Written by Nicci   Posted 18 March 2016

My tax statement has a date of refund as 19. 03. 2016 is that the date I will receive the refund into my account

PAYE or Provisional Tax

  Written by Marc   Posted 18 March 2016

I own a small business - registered with CIPC as a private company. I am the sole director of this company and currently get paid a salary by the company. Should I be registered for PAYE, UIF and WCA for the income in the form of the salary or are provisional tax payments sufficient.

Offshore 60 day trip

  Written by Marc   Posted 18 March 2016

I am South African and I work offshore. I know I have to work 183 days offshore in total, with 60 of these being continuous. Would a 60 day trip that falls over February and March 2016 be applicable for the 2016 tax year, or do I have to do another 60 day trip to be tax exempt?

Sole Proprietor - PAYE - IRP5

  Written by Marc   Posted 18 March 2016

If I am a sole proprietor and am registered for PAYE/UIF, as I employ one individual, and have paid PAYE for myself during the 2015-2016 tax year so that I don't get hit with a big Income Tax bill at the end (this is over and above the two provisional tax amounts I have paid) - how do I declare this tax paid on an IRP5? Do I declare an income amount even though my accounts have not been finalized or do I leave the income amount blank but complete the 4102 PAYE code on Easyfile?

Will I receive a penalty if my second provisional tax payment is late, however I make a third top-up

  Written by Nicci   Posted 17 March 2016

Good day, I have not paid my provisional tax that was due on 29 February 2016 due to very little money coming in and low on funds. Will all be in order if I don't pay, but can make the full payment on or before the 3rd optional payment?( September if I am correct)

What to do if SARS penalises me?

  Written by Nicci   Posted 17 March 2016

I was working freelance for 2 companies. My salary was plus minus R15,000 a year. SARS penalised me because I don't fill in forms. They say I owe R10,500. I don't have that money - what can I do?

What is the tax on my incentive bonus?

  Written by Nicci   Posted 17 March 2016

I am going to get R2,400 of incentive bonus and I want to know how much tax is going to be deducted from it.

I have received an ITA88 - what can I do?

  Written by Nicci   Posted 17 March 2016

Hi, I earn under R125,000 a year. I have not filed my tax returns for the past 4 years - recently a huge amount was deducted from my salary (SARS ITA 88) what do I do? Can I get that money back?

Tax rebate for medical aid when not the main member

  Written by Marc   Posted 17 March 2016

I currently am paying medical aid for myself, wife and child however I am not the main member, it is my wife, I currently deposit funds into her account for the deductions. She is currently unemployed and does not claim for tax. This was the only way to come off the company medical aid as they were too expensive

I wanted to know if I can claim this as I am paying for the medical aid just that its not on my name, I am the dependent and she is the main member. Further more we are marri...

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Company tax returns

  Written by Marc   Posted 17 March 2016

How do I calculate my companies tax returns. My company has never worked but it was registered in 2012. Now I need to know what should I do to calculate and get a new tax clearance

Tax relief for Medical Aid

  Written by Marc   Posted 17 March 2016

I only realised this month (March) that I was due a tax (PAYE) relief due to a Medical Aid Fund, which was initiated in July last year. Would it be possible to claim the relief even though the PAYE period is closed?

Certified/Official Proof of Income

  Written by Marc   Posted 17 March 2016

I have applied for financing and as part of the required documentation, I have been asked for certified proof of income in addition to my bank statements (I am self-employed). Would my ITA34 documents be sufficient as proof or would I need to get an official document from my accountants?

Do you get taxed more on the second time you withdraw from a provident fund? Resignation.

  Written by Marc   Posted 17 March 2016

Do you get taxed more on the second time you withdraw from a provident fund? Resignation.

Business mileage for off site visits

  Written by Marc   Posted 17 March 2016

Can I claim business mileage from home to another site (belonging to the company) which is not my normal place of work?

Medical rebate calculation not done unless claims exceed 7.5% of taxable income?

  Written by Marc   Posted 17 March 2016

Would it be correct to assume it is not worth doing the calculation for medical rebate if the amount paid out of your own pocket for medical services is less than 7. 5% of your taxable income?

Tax number for checks

  Written by Marc   Posted 17 March 2016

I recently had to give my tax number to a rental agent/landlord for a lease application. Does this mean they could gain access to my tax records if they have my tax number?

PAYE for 1 and half months -R7000 and R14000

  Written by Marc   Posted 17 March 2016

I started a new job on the 15 February 2016. I got paid R7000 and the tax on that was R156. This month I get paid for a full month R14000. What will be the tax that I would pay this month

Can I apply for a tax number when I'm using an asylum?

  Written by Marc   Posted 17 March 2016

I'm a Zimbabwean citizen using an asylum can I apply for a Tax number?

Refund after audit has been completed.

  Written by Marc   Posted 17 March 2016

After an audit, received additional assessment (not selected for audit) and requested a statement and SARS owes, how long does a refund take to hit my bank account?

What are business related expenses if you are a bookkeeper working from home?

  Written by Marc   Posted 17 March 2016

What are business related expenses if you are a bookkeeper working for several clients from home?

Tax on Employee and Employer Retirement Fund Contributions

  Written by Marc   Posted 16 March 2016

Regarding the new tax law on Employee contributions to retirement funds, is it correct to say that from the 1 March the employee portion of 7,5% and the employer portion of 8% must be included in the employee's gross salary and then taxed as a fringe benefit? We were wondering what suggestions you have of how this would appear on the employee's salary slip eg. Gross salary (incl total provident fund %) less Paye, less fringe benefit tax, less Uif? We are really battling to find anyone who knows...

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