Can I claim Pty start up costs back from tax

  Written by Marc   Posted 11 January 2016

I have registered a new Pty company. Can I claim any of the start up costs back from tax? Like the company registration fees, training courses, lawyers fees for contracts, etc. Can I claim trade expenses incurred before incorporation?

Tax code 3805 query

  Written by Marc   Posted 11 January 2016

Hi I have tax code 3805, if I move out of state housing do I no longer pay the amount coupled to the code?

Donation from overseas

  Written by Marc   Posted 11 January 2016

A British pensioner who lives in RSA and is a South African resident is being offered £1000 per month from her sister in the UK as the pensioner has no money to live on in her retirement. I understand the donor will not need to pay donations tax to SARS as she is a British citizen and resident. However will the pensioner (donee)be required to pay tax to SARS on these monthly donations for living expenses?

Im looking for my tax number

  Written by Marc   Posted 11 January 2016

How do I get my tax number? I do have one but I dont remember it. Please assist me.

Sole proprietor registration and tax returns

  Written by Nicci   Posted 11 January 2016

Where do I register as a SP?
What type of expenditure must I submit during the tax return season?

Do I need to pay tax on monetary gift amounts that I have received?

  Written by Nicci   Posted 11 January 2016

If I receive a monetary amount as a gift e.g.
A birthday gift, do I need to declare it and is it taxable?
I'm not referring to R500 - more like R5000.

Independent contractors - liable for employee tax?

  Written by Marc   Posted 9 January 2016

We have several independent contractors who we pay regularly each month (R7k). (1) Is employee tax relevant in this instance? (2) If so, do we do deductions before paying them?

What to do after incorrectly claiming expenses?

  Written by Marc   Posted 8 January 2016

I incorrectly claimed my MPS fees back on SARS eFiling. I only realised this after submitting supporting document as requested. Since then I realised my mistake, I haven't heard anything sofar from SARS.. What do I do now?

I need tax number from SARS?

  Written by Marc   Posted 8 January 2016

I need a tax number.

How do I register for eFiling when it refuses all my attempts?

  Written by Marc   Posted 8 January 2016

For years now we have tried to use SARS eFiling but have never yet managed to get into the system.

What are the admin penalties, if any, for late submission of the second provisional tax return

  Written by Marc   Posted 8 January 2016

Apart from the potential penalties for under estimation of provisional tax, are there additional (separate) penalties for non/late submission of the second provisional tax return?

Independent Contractor Setup

  Written by Marc   Posted 8 January 2016

Hi TaxTim

Great site!

I need guidance on what is required ito independent contractor (IC) tax & vat requirements. 1) If trading through my PTY LTD company as an IC, do I pay companies tax as well as personal income tax?
2) Do I deduduct all claims and deductions (medical aid, RA) prior to paying over tax, or only when I reconcile/ file tax?
3) How many times a year do I need to file tax returns?
4) Do I need to setup PAYE and UIF?
5) Income will exceed R1m per year, so vat should be registered. If true, When do I pay vat over to SARS and what paperwork is involved?...

Read more →

Hi tim to claim my late husbands provident I was asked to obtain a tax number but I do not have one

  Written by Marc   Posted 7 January 2016

Hi tim to claim my late husbands provident I was asked to obtain a tax number but I do not have one as I was never employed in my life what type of tax form do I fill in to receive my late husbands provident fund

Online Bookkeeping Service

  Written by Marc   Posted 7 January 2016

Does TaxTim, know of an online Bookkeeping system, that would work similar to TaxTim. A digital bookkeeper offering simple bookekeeping and preparation of financial documents for taxation purposes. If not, have you thought of starting one, especially for us small business (sole proprietors)?

Do l have to pay tax if l m earning R5,500?

  Written by Marc   Posted 7 January 2016

Do l have to pay tax if l m earning R5,500?

Efiling registration problem

  Written by Marc   Posted 7 January 2016

I tried to register for SARS eFiling yesterday, but the system says my information does not correspond with the information they have on their system. What do I do now? I really don't want to go and queue in one of their branches.

Declaration of Donation under R 100 000

  Written by Marc   Posted 7 January 2016

If I make a donation of R 100 000 to a family member, do I need to declare this payment to SARS even though there is no tax payable?

Supporting docs requested was uploaded, not sure what happens next for my returns to be paid

  Written by Marc   Posted 6 January 2016

I have received this letter from SARS and uploaded the requested supporting docs.

Thank you for submitting your income tax return for the 2015 year of assessment. Your assessment has been concluded and reflects an amount refundable to you of R -21375. 50"
I am not sure what is the next process for the money to be paid out?

Can the tax paid per your payslips up to 28 Feb be more than tax populated per IRP5?

  Written by Marc   Posted 6 January 2016

Is there a legitimate reason why total tax paid by the entity as at 28 February per payslip would be more than the amount stated on the IRP5?

Audit by SARS

  Written by Marc   Posted 6 January 2016

I was asked to submit supporting documents which I did at the SARS branch it has been more than 30 days is there a way that I can query the status of the audit? They don't owe me a lot of money only around R4500, why are they taking so long?

Will I get the balance back from SARS?

  Written by Marc   Posted 6 January 2016

I've only worked 4 months of the 2015 tax year. Am I correct in saying that one does not need to pay tax if the yearly income is less the R80 000. My earnings for the year before tax if R68 000. So am I correct in saying that if I don't work for the rest of the 2015 tax year, I will get the tax I paid to SARS back?

If I qualify for exemptions do I still have to register for provisional tax?

  Written by Marc   Posted 6 January 2016

If I am a director on a business that makes less than R30k per annum (not getting income from it) and am employed with a package of R500k per annum, am I still regarded a provisional tax payer? Is there an option to deregister?

R7500 SALARY BONUS R4000 WHAT TAX WILL I PAY

  Written by Marc   Posted 6 January 2016

My monthly salary is R7500 I am 54 years old, I am getting a bonus of R4000 the end of January 2016 month, please advise that my take home amount will be after tax

What are tax implications when dates are incorrect on the IRP5

  Written by Marc   Posted 6 January 2016

What difference does it make to my tax liability when the dates on the IRP5 are incorrect and it appears that I worked for two employers for a period of 5 months, when in fact I worked for one employer.

Declaring Foreign Income

  Written by Marc   Posted 6 January 2016

Do you need to now declare your foreign income in your tax return? I work and live in Dubai and only tax return to South Africa once maximum twice a year for a maximum of 30 days. I file a tax return every year declaring my rental income and local interest from South Africa, but I do not declare my foreign income as I am out of the country for more than 184 days which 61 are consecutive.
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