Incorrect logbook information

  Written by Marc   Posted 9 February 2016

I just want to find out with regards to car allowances. I switched employment in June 2014 and did not have access to my kilometers claimed at my previous employer. I started working at my previous employer again in January of this year and found my old information. It seems like I might have submitted incorrect information on half of the year for car allowance. I am currently being audited manually, and do not know what to do, please advise?

What are the penalties and interests paid for provisional tax?

  Written by Marc   Posted 8 February 2016

What are the penalties and interests paid for provisional tax?

If I pay my emplyees's lunch, can I deduct it and under what heading?

  Written by Marc   Posted 8 February 2016

My workers eat lunch daily and I pay for it out of the business profit. Can I deduct this amount and how much of it can I deduct? They eat about R100. 00 worth of food and drink per day and I keep all these slips. Can this be deducted under "entertaining"?

How do I calculate employees tax?

  Written by Marc   Posted 8 February 2016

How do I calculate employees tax when there's an annual amount?

Revenue paid offshore

  Written by Marc   Posted 8 February 2016

If a South African company is paid offshore for services rendered within South Africa, is the company obliged to bring the revenue back to SA?
Revenue is reported on in SA, it's just that it gets paid offshore. Bringing it back every month incurs a lot of bank charges, amongst other things. Many thanks

Minimum asset write off for depreciation?

  Written by Marc   Posted 8 February 2016

What is the amount per asset that you can immediately wright of for example if an asset cost less than R7000 you can depreciate it to R1 immediately to pay less tax?

Medical costs deducted on IRP6 form

  Written by Marc   Posted 8 February 2016

We have no medical aid, but have dental and optometrist receipts for work done. How can we deduct this when we declare the IRP6 and ITR12?

Unemployment and provisional tax

  Written by Marc   Posted 8 February 2016

I was unemployed for roughly six months of the 2015/2016 tax year, do I need to submit any proof. Now with the new work I have to pay provisional tax because I work for myself but not as a company, how does this affect tax deductions?

How to renew clearance certificate and how much it will cost?

  Written by Marc   Posted 8 February 2016

I started a company last year and were I registered my company they also did tax clearance certificate,since I open the company it never worked the whole year and now certificate it's expired. I want to know if I can renew it my self and how much it will cost me to renew?

Tax on resignation benefit

  Written by Marc   Posted 8 February 2016

How much is tax deducted on a resignation benefit of R1013000

ITA34 - Where's my 'Letter containing further instructions'?

  Written by Nicci   Posted 8 February 2016

After submitting my ITR12, I received an ITA34 in which 'a letter containing further instructions' is mentioned. "Please note, however, that the information provided by you in your income tax return does not match the information in the possession of SARS or your tax return has been selected for verification. Attached you will find a letter containing further instructions for you to resolve this. Please note that any refund which may be due will be withheld pending finalisation of this matter. According to the information you declared in your income tax return, you were liable to pay provisional tax for this year of assessment...

Read more →

Will I be taxed if I loan my brother money interest free?

  Written by Marc   Posted 8 February 2016

Will I be taxed if I loan my brother money interest free. I am a South African resident but he lives in the UK.

1. penalty - delayed return. 2. submit returns for previous years 3. community of property/customery

  Written by Marc   Posted 8 February 2016

1. What is the penalty for delayed tax return submission?
2. Can you still submit tax returns for previous tax years which were never submitted?
3. What effect does married in community of property or customary law

Monthly provisional tax payment and foreign exempt income

  Written by Marc   Posted 7 February 2016

Context: I am paid by a foreign employer in USD and will be processing tax payments in my own capacity. I understand from previous questions that I should register as a Provisional Tax Payer. I have two questions:
1) Is it possible to make monthly payments to SARS instead of at the 2 periods in time? If yes, how?
2) I will likely have to work outside the country for period of 183 days/ 61 days continuously - how do I go about getting the refund/ processing my tax given this?

UK property income disclosure

  Written by Marc   Posted 5 February 2016

I am due to become a SA tax resident in the next tax year if I stay (not my intention to stay, but may become a SA tax resident due to physical presence test). I have income from Uk properties which is declared on my uk tax return and uk tax is paid. I still have some net income. Questions:

1. How is this noted on my SA tax return. Ie after uk tax is paid? Or before with a credit for tax paid? But will be paying tax twice?

2. Where is this to be put on the tax return?
...

Read more →

If I get my home loan to run off as part of my payroll would my tax be lower ?

  Written by Marc   Posted 5 February 2016

If I get my home loan to run off as part of my payroll would my tax be lower?

Payment to spouses for admin work

  Written by Marc   Posted 5 February 2016

I am self employed and work from home. My wife helps me with admin part time. Am I able to pay her a reasonable market fee and deduct this from my income. My wife also contracts for other companies. What the implications for preparing tax returns.

Compulsary registration

  Written by Marc   Posted 5 February 2016

When did everyone have to register for tax, regardless of their income?

Gift tax on a amount received in January plus an additional amount of R330,000 coming in march

  Written by Marc   Posted 5 February 2016

I have already received a money gift from my sister in the uk for R70,000 this year. She now wants to send an additional R330,000 in order for us to move to another property which is more expensive than the one we have. How much tax would we have to pay. Would it help if R100,000 was deposited into my husbands account although we are married in community of property

PAYE for employee with 2 employers

  Written by Marc   Posted 5 February 2016

I am sharing a secretary between me and a colleague. We are working in the same office. We pay her a total of R8000 p. M (R4000 each). Obviously PAYE should be deducted based on her total yearly income (R96000) and paid to SARS before the 7th of each month. Is it fine for me and my colleague to split the PAYE and UIF contributions and pay those separately to SARS, and issue her one payslip between us? If so, does she need two IRP5s issued?

UIF deduction from Salary

  Written by Marc   Posted 5 February 2016

On what amount do you calculate UIF deduction? On the gross salary amount? And would this calculation include overtime compensation or is the UIF deduction strictly on the base salary?

R366 364.00 per annum TTC and my pension will be at 10 percent, what will my net be

  Written by Marc   Posted 5 February 2016

If a company offers me R366 364. 00 per annum TTC and my pension will be at 10 percent, what will my net salary be? No medical aid deductions applicable

Tax Free savings accounts for married couples who are both provisional tax payers

  Written by Marc   Posted 5 February 2016

Hi, My wife and I are married in community of property and are both provisional taxpayers. My wife does not work and I am retired. Our income comes from investments and for tax purposes such income is divided equally between us. My question is with regard to tax free savings accounts. In the circumstances which I have described, are each of us entitled to open tax free savings accounts?

Individual or provisional tax?

  Written by Marc   Posted 4 February 2016

I'm working as a financial adviser,I earn on commission,which form should I fill in
Individual or Provisional tax?

Query re first time tax for new small unregistered business

  Written by Marc   Posted 4 February 2016

I left a permanent job and started a freelance design business in July 2015. My Personal income tax for last year is up to date. I need to start paying tax on my business but have no idea how this works. I am using my personal bank account to receive payments from clients for design services. I am not yet breaking even and can barely pay my bills. I am not making a profit yet. I have no idea how tax works. I need help and wondered if signing up to TaxTim would be the way to go? I would need to b...

Read more →
Older posts →← Newer posts    72  73  74  75  76  77  78  79  80  81  82  83  84  85  86  87  88  89  90  91  92