Using someone else's banking details for my tax refund from SARS?

  Written by Marc   Posted 20 August 2015

Hi i'm orginally from Nigeria, I live and work in SA, I just did my tax retuns but they told me I cannot use my foreign acc except and Indian foreign acc,i tried opening a capitec acc but was told my papers are about to expire so I need to wait for the new ones... Can I use a 3rd parites banking details and have my retuns paid into their acc instead?

Capital Gains on joint ownership of property where only one person is the primary resident.

  Written by Marc   Posted 20 August 2015

I am joint owner (50%) of a property with my son. He is the primary resident, I am not. If we sell the property, how is the Capital Gains Tax calculated? The gain will be way below the threshold of gain of a primary residence.

Pension and maintenance

  Written by Marc   Posted 19 August 2015

Hi, if I receive maintenance for 7 months do I declare this on my tax return as income
and if I drew a lump sum out of my pension of R480000-00 is this taxed and under what section on tax return

Thank u

What other documents are needed to hand in with IRP5 at branch or efiling?

  Written by Marc   Posted 19 August 2015

Hi, what other documents is requiered at the SARS branch whith my IRP5? And do I need it for SARS eFiling as well? Thanks

Provisional Tax - how to work it out?

  Written by Marc   Posted 19 August 2015

New to provisional tax. We are working with an accountant but info is not forth-coming. Is the taxable amount worked out on:
Income less
Deductions / Expenses
= Taxable Income (i. E. We are taxed the percentage in that tax bracket)

i. E. The provisional tax amount is not just worked on your income?

Take home amount after tax

  Written by Marc   Posted 19 August 2015

Hello Tim. My lik brother got a job that willl give him about 20 000 commission without basic. He needs to know how much he takes home after tax

Must I pay provisional tax?

  Written by Marc   Posted 19 August 2015

I earn a salary of R5500 per month, I am under 65 years and receive interest and dividends of R25000 per year. What forms must I complete for my tax return? Must I pay provisional tax?
Thank you

Incorrect year on tax directive is stopping processing of tax return

  Written by Marc   Posted 19 August 2015

Momentum paid out a small pension surplus to me in April 2015 (falls in the 2016 tax year) but dated the tax directive for the 2014 tax year, SARS are refusing to process my tax return due to the income not appearing on my IRP5. Can the directive be amended or is there any other solution available?

May I claim the money I paid for my childs training institute?

  Written by Marc   Posted 18 August 2015

May I claim the money I paid for my child's training institute?

Audit taking forever - now escalated ?

  Written by Evan   Posted 18 August 2015

Hi guys, I submitted my tax return on the 1st July. My tax return was assessed and it was shown that a payout was due but I was selected for an Audit. After waiting 31 days I phoned and they acknowledged that this had taken longer than the stipulated time and escalated my query... I was told this could take a further 21 days???

Are we really at the mercy of the system or is there any other recourse we can take? (straight forward tax return - no vehicle allowance etc. )

Delay for my refund from sars when I submitted on the 5th and I'm due for a refund

  Written by Marc   Posted 18 August 2015

Hi Tim
I submitted my income tax return on the 5th of August 2015 and I'm due for a refund and my refund will not be audited but up to now no money have send to me do you you perhaps know what might cause all this delay. Regards
Mr Sihle Majola

Is spousal maintenance a taxable income?

  Written by Marc   Posted 18 August 2015

Is spousal maintenance a taxable income?

Medical contribution codes

  Written by Marc   Posted 18 August 2015

If my contribution towards medical aid is R1000, deducted from my salary, and the company pays the other R1000 (50/50) is the code 3810 then supposed to be R24,000?

My understanding is that code 4005 plus 4474 equals code 3810 or have I got it completely wrong?

My tax reference number

  Written by Marc   Posted 18 August 2015

I live overseas but would like obtain my income tax reference number. Is there an easy way to do this without calling SARS and waiting so long on an international call?

Will he be taxed and will he be able to claim a deduction?.

  Written by Marc   Posted 18 August 2015

A sole trader, pays himself a salary of R4000 per month. Will he be taxed on this amount?. Will he be able to claim a deduction of this amount from his business profits?.

Salary 10 000 + 2000 fuel allowance - tax?

  Written by Marc   Posted 18 August 2015

If I receive a monthly salary of R10000 and a fuel allowance of R2000 - how much will I clear

How much will my pension fund lump sum be taxed upon resignation on e.g R200 000

  Written by Marc   Posted 18 August 2015

I am resigning from a government position and I am taking my pension payout as a lump sum. I was told that the full amount will be taxed. I would like to find out what the tax percentage will be?

Are Gap Cover monthly payments tax deductible?

  Written by Marc   Posted 18 August 2015

Are Gap Cover monthly payments tax deductible? "Gap cover falls under the definition of �%u20AC%u0153accident and health policy�%u20AC�, in the Short Term Insurance Act No. 53 of 1998, or the Long-term Insurance Act, 1998 and not the Medical Schemes Act, 1998. " My gap cover has said they are unable to give me a tax certificate because it is not tax deductible. Please can you assist.

Dont have IRP5 for 2007 and SARS is request me to submit

  Written by Marc   Posted 18 August 2015

SARS is requesting a tax return for 2007 but I dont have a IRP5 for that year. My previous company never kept records. I have been filing since 2008 to date and have never been asked before to submit 2007. How do I proceed now?

Am I and independent Contractor or a Bookkeeper for tax purposes; can I deduct a pc course as an exp

  Written by Marc   Posted 18 August 2015

I am a bookkeeper for 2 entities with the same directors, but different company and tax numbers. I invoice a fixed fee per month, but split it based on the pro-rate turnover per entity. I work form my study although I also do visit their office especially certain periods during the month - ie mid-month for invoicing and month end to balance the books. Question: Does this mean I am an Independent Contractor? Is this applicable for the 80/20 split as an independent contractor? Do they have to deduct tax from me on a monthly basis?...

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Tax implications on unit trust for a new born child

  Written by Evan   Posted 17 August 2015

Hi Tim
What are the tax implications if I have a unit trust fund for my child. Do I need to disclose the interest and capital gain on sale in my tax return? Thank you

Medical aid tax credits on my ITR12

  Written by Marc   Posted 17 August 2015

Hi, I submitted documents for an audit. It has now been 24 working days and SARS can still not give me an answer. I was told to call back after 30 working days. My employer does not pay my medical aid, makes no contributions whatsoever, there is no tax credit for medical aid on my IRP5. Surely I am to be refunded as my tax was not adjusted to make provision for the tax credit. According to my IT34A I am to receive a refund, but was asked to submit documents as they have audited me.

Do foreign nationals with South African work permits qualify for the offshore tax exemptions?

  Written by Marc   Posted 17 August 2015

I am a foreign national (New Zealand) based in South Africa on a work permit, working for a South African company. However all of my work is "offshore" in the DRC in the mining industry. I am away from South Africa for about 300 days per year for up to 60 days at a time. Can you please let me know if I qualify for the tax exemption on my salary. Thanks, Dan

Are vehicle repayments tax deductable for a sole-proprietor?

  Written by Marc   Posted 17 August 2015

I am a sole proprietor in a health profession. I have an office, but I see a lot of clients at their homes or primary residence. I need a car to conduct my business, and have just bought a new car. What are the tax implications of this? Can I deduct the repayments and insurance premium as a business expense?

Fringe benefit calc on use of company vehicle for period less than a month?

  Written by Marc   Posted 17 August 2015

How do I calculate fringe benefits tax on the use of a company vehicle. The vehicle was received on the 14 Aug 2015.
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