What is PAYE tax?

  Written by Marc   Posted 29 February 2016

What is PAYE tax?

Submitting and IRP5 and Provisional Tax

  Written by Marc   Posted 29 February 2016

A company I was working for closed down in March last year and I started freelancing sometime after that and now need to pay provisional tax, but what happens with the IRP5 that was generated for me? Do I still submit that even though I'm submitting for provisional?

17 200 of 18 %

  Written by Marc   Posted 29 February 2016

How much would my PAYE be (per month) if I have a gross salary of R17 500, less pension of R300, medical aid R600 and UIF of R 148,72

The importance of a tax number.

  Written by Marc   Posted 29 February 2016

What is the importance of tax number, am not working an if am self employer or working at Indian shop without payslip but I have bankcard. Where can I around tzaneen. What about immigration?

Offshore investing tax implications

  Written by Marc   Posted 29 February 2016

What are the tax implications of investing in offshore unit trusts and shares and how does one disclose it in your tax return. Thank you

I need clarity on what is viewed as non-retirement income for purposes of the 27,5% calculation.

  Written by Nicci   Posted 29 February 2016

As pensioner, my annual pension amounts to R784 672, in addition I receive taxable interest of R18 000 and tax free interest of R115 200 as well as a consultation fee income of R100 000. I want to invest the maximum of 27,5% in a retirement annuity. How much can I annually invest in a retirement annuity?

Delayed refund

  Written by Nicci   Posted 28 February 2016

I submitted my tax return last year but no payout was made to me

How to handle Rental Income when married in community of property?

  Written by Nicci   Posted 28 February 2016

Hi, my wife and I are married in community of property. We own a few residential flats that we rent out for extra income. When it is time to complete our annual tax return and we each fill in details of extra Income on the tax return, must we EACH declare the FULL income from the rentals OR must we EACH split it in HALF and declare that OR must we say we are in 50% partnership on the form where it allows for that? In the tax return it does ask how we are married so does SARS automatically split ...

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Sports coach PAYE

  Written by Nicci   Posted 28 February 2016

A sports coach at a school is paid per hour but only earns around R3000 pm which would normally exclude paying any PAYE. Is this coach still eligible to pay 25% PAYE? This is an independent coach, only on contract for 5 months.

Do I have to pay tax on winnings

  Written by Nicci   Posted 28 February 2016

I have a small business running from home. Make on average about R5000-R6000 a month. I am not registered for tax. I recently won R40 000 from betting on soccer. Do I need to declare these winnings and how?

Winning money while abroad, how will it be taxed on return home?

  Written by Nicci   Posted 28 February 2016

I am going abroad soon for 8 months where I will be in the following countries, UK, France, Germany and Australia. I will not be employed by a organization so I will get no wage or salary. I will however be gambling, which is the main reason for going. What I would like to know is the following: would those monies be taxable when I return and how? If I am taxed in the above mentioned countries would the double tax agreement cover gambling also? How would I declare the winnings on my personal tax...

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When does the Secondary Tax Rebate Kick in: During the birth month or the tax year one turns 65?

  Written by Nicci   Posted 28 February 2016

I am in my 65th year... ie. I am currently 64 but will be turning 65 in September 2016. This means that when my final 2016/17 tax return is submitted to SARS at tax year end I will technically be entitled to the secondary rebate for the age group 65 - 75. Should my employer calculate my monthly PAYE Deductions at my current age (64), or the age I will be at the time of this final tax submission (65)?

Sport PBO NPC, how do I populate IT12EI form?

  Written by Nicci   Posted 28 February 2016

We are a year-old sport PBO, and haven't earned any funding between March 2015-February 2016; how do I populate the IT12EI form with info and source code?

TT

Questions on provisional tax

  Written by Nicci   Posted 26 February 2016

A second provisional tax payment should be made end of Feb of each year. Why would SARS effectively require individuals to submit a tax return before the last day of the financial year (28 Feb) when business related expenses and income might still happen?

Apart from wanting to know why this implementation, I also want to know how does the differences gets eventually settled when you do still have income or expences after you have filed late in Feb?

Do I include a provident fund payout (on resignation) in my taxable income on the IRP6 return?

  Written by Nicci   Posted 26 February 2016

Do I include a provident fund payout (on resignation) in my taxable income on the IRP6 tax return?

Tax refund for casual worker

  Written by Nicci   Posted 26 February 2016

I'm working at a season job that will end next week. I will have been working for 13 weeks and paid about R8000 in taxes. I'm being taxed each week. The rest of the year I don`t get any income that means I don`t have work. I would like to know if I can claim my tax back. I `m under the threshold and I do have a tax number. I don't have pension, policies or a medical aid in my name.

Capital Gains in 2016/17 - is it part of Taxable Income for RA calculation?

  Written by Nicci   Posted 26 February 2016

Next year will Capital Gains taxable portion be part of Taxable Income for Retirement Annuity contribution (i.e 27,5% calculation)?

SARS Exchange rate tables

  Written by Nicci   Posted 26 February 2016

I am completing my IRP6 and I am earning a slary in GBP. Which table should I use? Table A or B?

http://www. SARS. Gov. Za/Legal/Legal-Publications/Pages/Average-Exchange-Rates. Aspx

Thank you!

Where should I declare my freelance income?

  Written by Nicci   Posted 26 February 2016

I am an employee, but also a Sole Proprietor. I am an artist. My business is not officially registered yet, but I have been trading for some time now. Do I need to declare the income I earned through freelance work in the same ITR12 that contains the information I received from the IRP5 from my employer, or would I need to declare the freelance income in some other form?

Disclosing interest on the IRP6

  Written by Marc   Posted 26 February 2016

If a taxpayer earns 130,000 interest in the year, does he disclose the entire amount in the taxable income section of the IRP6 or just the portion of the interest income that is taxable. I,e 130,000 less R34500 exempt portoin. I see the form only deducts the primary rebate.

What are taxable items?

  Written by Marc   Posted 26 February 2016

What are taxable items

Does a 45-day old business still need to submit a provisional tax return?

  Written by Marc   Posted 26 February 2016

I am a salaried employee, but since the middle of January 2016 I have been running a business. It's been expensive to set up, and business is slow - I've turned over R50K max and have about R40K of expenses. Do I need to submit a provisional tax return now, or can I carry that amount over and declare it later in the 2017 provisional tax year?

Tax reference number?

  Written by Marc   Posted 26 February 2016

When being employed, for tax purposes is the employee or employer suppose to have the employee registed for their tax number tax reference number

Should I register for IRP6 or IRP3?

  Written by Marc   Posted 26 February 2016

I found two forms on the SARS site, IRP3 which states it's meant for freelance artists and IRP6 for provisional tax. I'm a freelance artist so should I fill in and resister for IRP6 or IRP3 or both?

I am in SA on BV for 3 months , I want to register for Tax number what are the charges

  Written by Marc   Posted 26 February 2016

I am in SA on BV for 3 months, I want to register for Tax number what are the charges
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