Is it correct to say the marginal tax rate is different to the effective tax rate?

  Written by Marc   Posted 18 January 2016

Marginal tax rate: Is a person who is taxed at 41% actually taxed at 41%? Because of the fact that there is a primary rebate of R73,650 the tax payer is not taxed on the full amount at 41%. Thus the effective tax rate is less than 41%. Is this correct?

How do I go about renewing my company's tax clearance and is it possible to do it online?

  Written by Nicci   Posted 18 January 2016

I registered a private company and got my tax clearance done around this time last year and for the past 12 months the company has not made any income. How do I go about renewing my company's tax clearance and is it possible to do it online?

Taxable Earnings

  Written by Marc   Posted 18 January 2016

I always see on my payslip the word TAXABLE EARNINGS. Do I have to claim that amount?

Confused

  Written by Marc   Posted 18 January 2016

I would like to know if I must register for tax? I do temp work for a company, one month I'll earn R5000. 00 and a other month I'll earn R300. 00 or I won't earn anything. Some months. There's not always work so I Just go in whenever there's work. Do I still have to register?

How to get my tax number?

  Written by Marc   Posted 18 January 2016

How can I get my tax number

Exceeding 8000km for 3703 code

  Written by Marc   Posted 18 January 2016

Hi Tim. Each month, my payslip has indicated payment of non taxable reimbursement of travel expenses to me. Having exceeded the 8000km, should my tax return indicate the 8000km reimbursement as tax free (3203) and the excess as taxable (3702), or does the entire amount become taxable (3702).
My employer has put my full

How will SARS know what's petty cash and what's income?

  Written by Marc   Posted 18 January 2016

I get petty cash from my company deposited in my account throughout the month and year, how will SARS know it's petty cash and not an income?

My husband had to buy a car to use for business purposes, may he claim this from SARS?

  Written by Nicci   Posted 18 January 2016

My husband had to buy a car to use for business purposes, may he claim this from SARS? This was part of his employment contract with the company

Is our company a Personal Service Provider.

  Written by Marc   Posted 18 January 2016

Our company has 3 directors and no separate employees. Two directors work for the company and the third (me) doesn't work for the company. The company supplies IT services, sales and consulting to many clients, no one of which generates more than 80% of our turnover. However, the services, etc are supplied to all clients by the working directors as there are no other employees. Turnover will be about R2 000 000 in this tax year. Will we be seen as Personal Service Providers and if so, what is th...

Read more →

Concern

  Written by Marc   Posted 18 January 2016

If I earn R1236. 00 per week what is my taxable deduction

Leaving SA - tax return

  Written by Nicci   Posted 15 January 2016

I have taxpayer that is leaving SA permanently on the 01 May 2016. According to the income tax act article 9H(2) the taxpayer must submit tax return on date of not being resident in SA as well as tax return on the end of the year 28 February 2017. The question however is how do we submit two tax returns in one year or what must we do to have this information for the year correctly carried over to SARS?

How much do I set my travel allowance amount for this tax year?

  Written by Nicci   Posted 15 January 2016

I should be able to claim a travel allowance as I am consulted out to one or more clients on a permanent basis from my employer. However, I don't have a travel allowance on my payslip and I need on in order to claim. I can request for an allowance to be added, but it needs to be added as a matter of urgency to be part of this tax year. Question is how much do I set the amount to? Would it need to be 12x what the normal amount should be?

Can I claim Provident Fund from SARS?

  Written by Nicci   Posted 15 January 2016

I am a member of a Provident fund does this mean I can claim from SARS? Like I would with an annuity

Retirement fund withdrawal

  Written by Nicci   Posted 15 January 2016

Hi, I am changing jobs, and I have the option of withdrawing some or all of my current balance in my provident fund. Please advise on the rules surrounding withdrawals. Is there any limit to how many times one may withdraw in lifetime? I will leave my current job at the end of Jan, so it still falls under the current system. Will any of the changes to RA that come into effect on 1 Mar 16 affect these withdrawal rules.

Am I supposed to pay tax?

  Written by Nicci   Posted 15 January 2016

I am a foreign student studying in South Africa, I got a part time job earning about R20,000. I resigned after 2yrs 8months. I was informed there is a provident fund I was to collect. The company was deducting tax from me every month. Was I supposed to pay tax? And will this affect the tax directive for me to receive my provident fund

Tax rules for foreign income

  Written by Nicci   Posted 15 January 2016

Please advise the tax rules for working outside of SA? No income is earned in SA only abroad.

Salon tax

  Written by Nicci   Posted 15 January 2016

I own a small salon. It's doing pretty well. It's been 6 months since it opened. It has its own business account. I have 3 employees, 1manager (7k) and 2 casuals (3k monthly). Problem is I don't knw where to start; how should I go about with SARS and my business, what should I bring? I contacted an audit company and they requsted 12 bank statements. I have 6months. is it early for my business to do SARS....? And my employee who earns 7k and me should I tax our salaries by where to pay?

Tax Deduction from Provident Fund

  Written by Nicci   Posted 15 January 2016

I had R300 000 tax deducted from my late husband's provident this year - will i qualify for a tax refund? I am unemployed i was dependent on my husband fully

Resignation

  Written by Marc   Posted 14 January 2016


If my retirement fund is standing at 63000 and I resign how much will I get out? Thats including company contributions. Its not my first time I resign from a company. And what if the company contributed group life insurance? Will I get out less than 30000?

Do directors have to pay PAYE?

  Written by Marc   Posted 14 January 2016

I have seen a few times where directors of companies are not paid the same amount each month. The company does not pay PAYE over each month (in fact company is not registered for PAYE) and all that happens is the director declares his total earnings/drawings for the year in his ITR12 at the end of the year. This amount then corresponds to the "directors emolument" line item in the financial statements. Is this okay to do this?

Receiving money from abroad that's not gift or work related

  Written by Marc   Posted 14 January 2016

Hello

My father-in-law lives in Mauritius and is coming to SA in April for a holiday. He wants to send money (R50,000) to my bank account so that I can pay deposits, etc. I've phoned my bank and they say I can give the reason as "travel by non-resident". But they can't tell me if I'll need to declare the money or if I'll be taxed. Can you help me please?

Turnover tax

  Written by Marc   Posted 14 January 2016

My husband and I are architectural draughts persons, in a partnership and provisional taxpayers. Can we switch to turnover tax?

Tax Returns - process?

  Written by Marc   Posted 14 January 2016

What and when is the procedure for claiming tax returns?

Do I have to pay tax if I earn R5500 monthly?

  Written by Marc   Posted 14 January 2016

I'm earning 5500 Rand am I have to pay tax

Vehicle repayments

  Written by Marc   Posted 14 January 2016

Hi Tim I am a solely commissioned based earner for one company can I claim vehicle repayments
Older posts →← Newer posts    79  80  81  82  83  84  85  86  87  88  89  90  91  92  93  94  95  96  97  98  99