Capital Gains Tax / Primary Residence

  Written by Marc   Posted 6 January 2016

I would like to sell a rental property of mine. How long do I have to go an stay in the rental property, before it can be classified as a primary residence with regard to Capital Gains Tax?

How do I avoid double taxation between RSA and the USA?

  Written by Marc   Posted 5 January 2016

I just invested in a Global Property index fund held under a tax-free savings account. I believe this is exempted from SARS 15% dividends tax. The IRS tax rate for foreign investment goes as high as 30%! Is there a possible chance that I may be taxed twice, dividends tax and then capital gains tax, when I sell and bring over the amount back in South Africa?

Tax implications of Grandparent paying grandchildren's school fees

  Written by Marc   Posted 5 January 2016

Hi, is it permissible for a grandparent resident in South Africa to pay his UK resident grandchildren's school fees without it counting as a donation?

Can I opt just to have either my provident or pension fund paid out and to buy an RA with the other

  Written by Marc   Posted 5 January 2016

I have both a pension fund and provident fund at my current employer. I plan to resign prior to the introduction of the retirement reform legislation thus before 01/03/2016. Would it be possible for me to have just one of the 2 funds paid out and taxed and to invest the other in a retirement annuity. Also my assumption would be that I would only be taxed on the fund which is paid out. Thanks for your assistance. Kind regards

Tax deductions with Medical aid

  Written by Marc   Posted 5 January 2016

How do you calculate Tax when there is a medical aid deduction where the full contribution is from the employee and none from the company?
Eg. Gross Salary: R18400
-Deduction - Medical Aid: R2018
-Deduction - Tax:?

Without the medical aid I worked out Tax deduction should be - R2466

Do I qualify for a tax rebate

  Written by Marc   Posted 5 January 2016

I earn below R5000, don't pay anything extra besides UIF, can I still claim a refund?

Tax refunds for non tax payers??

  Written by Marc   Posted 5 January 2016

I earn a salary of R57000, don't pay tax, do I qualify for a tax refund?

Calculating tax for a us dollar income earner

  Written by Marc   Posted 5 January 2016

I would like to help in calculating my provisional tax, I am a consultant who earns in US$ as well as another Rand salary. How do I calculate my tax given that the rate to the US dollar is always changing.

Employer never issued me my IRP5 form.

  Written by Marc   Posted 5 January 2016

My employer has been deducting PAYE off my salary but did not give me a IRP5 form. How can I find out if they actually have been paying PAYE and if they submitted the IRP5 to SARS?

Car allowance claim

  Written by Marc   Posted 5 January 2016

I have submitted my tax return. Was audited and my car allowance claim excluded as they requested the purchase documentation for the car. Apparently they tried to phone me couldn't get a hold of me and then finalised it without the documentation. My question is. The car was purchased and registered in my husbands name. We are married in community of property. The insurance is in my name. He pays for the car and myself the insurance. Will that be a problem?

Will a sev package tax exemption in 2012 affect tax level for early withdrawal in 2016?

  Written by Marc   Posted 5 January 2016

I am withdrawing R660000-00 from my Pension Preservation fund. I understand that R25000 is tax free and I will be taxed 18% on the balance. However I was retrenched in 2012 and received a severance package of which the first R315000-00 was tax free as far as I remember. How will this tax exemption of 2012 affect my lump sum pay out taxation rate for 2016? Has the 18% tax rate been used up partially?

Where can I get IRP5 for 2003 to 2007 if company closed down

  Written by Marc   Posted 5 January 2016

This is the first time since 2008 that tax told me my 2003 to 2007 is still outstanding. The employer I worked for that time closed down in 2014 and I can't get the IRP5 now, where and how can I get them?

Import IRP5

  Written by Marc   Posted 4 January 2016

We have realised that we do need to import a second IRP5. Can you help us to import it??

When one spouse married (ICOP) does not file a tax return can the other spouse be held liable?

  Written by Marc   Posted 4 January 2016

When married in community of property can one spouse be held liable by SARS if the other spouse files their tax return late or simply does not file their tax return?

Residency and Holiday Allowance Mistakes

  Written by Marc   Posted 4 January 2016

I am 69 years old an SA Permanent Resident not a Citizen. I am a UK Citizen. South Africa is my normal place of residency. But I sold my house in South Africa in October 2009. I took out this money as a holiday allowance in January of 2010 in Travellers Cheques. I did not close my South African Bank Account (holiday not leaving)
Because I am 69 and worked in the UK before coming to South Africa I receive a UK State Pension. I have the UK pension paid into a UK Bank account which I opened in Jan 2010...

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Exchange rate gain

  Written by Marc   Posted 4 January 2016

Currency exchange rate gain when bringing money back into SA
What is this classed as earnings? Capital Gain Dividend?

Open blocked account and merge 2 together

  Written by Marc   Posted 4 January 2016

Why does SARS close a new registered account after a few days?
Is it because we took to long to submit documents or is that normal. Why does it always says that your detail entered is incorrect. How can I merge the 2 accounts together which I have registered. I did not submit for 5 years and paying penalties but this must stop now. I need to submit today. Help

Am I a provisional taxpayer if my employer does not deduct tax from my salary?

  Written by Marc   Posted 4 January 2016

I get a monthly salary on a set day every month but I get it in full, without any tax deductions. It is my responsibility to arrange for the payment of tax with SARS. Do I have to register as a provisional tax payer in order to pay tax?

Provisional Tax vs Personal Tax?

  Written by Marc   Posted 4 January 2016

I've recently started working for myself. I've registered a business (which will start trading in 2016) but have been working through my own bank account (for the last 6 months) on the side (~ R6000/m) while getting preparations complete. I registered myself as a provisional tax payer, and I want to know if I can de-register myself for personal tax? Do I just submit a blank personal tax sheet since I filled in a provisional one for myself?

Source code commission earner

  Written by Marc   Posted 4 January 2016

Hi Taxtim

What is the source code for someone selling houses earning a commission?

Tax Payment to SARS for 2015?

  Written by Marc   Posted 4 January 2016

I submitted my tax return today and was informed that I have to pay them R57. How long do I have to pay that money?

Thank you

How to get a Tax Reference number from SARS

  Written by Marc   Posted 4 January 2016

I am a small employer of 5 people, all earning about R3000-00 pm. I have been told that all of my staff members need to submit to me their tax reference number. Is it correct that every person who has an ID number has already been issued a tax reference number by SARS? If this is the case what is the most effective way of getting the number. I have let my staff call SARS from my office on numerous ocasions to enquire without success. As I believe that there is a deadline for this looming immin...

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Can you claim medical aid tax credits if the main member is deceased

  Written by Marc   Posted 4 January 2016

Can you claim medical aid tax credits if the main member is deceased

Returing to SA from Canada - Do I pay tax in SA on Canadian income ?

  Written by Marc   Posted 4 January 2016

I immigrated from SA in 1997 and lived in Canada since - also became a Canadian Citizen
Now tax returning to SA as a resident - lost SA citizenship
Leaving all my wealth in Canada and remaining a Canadian Citizen
My wealth is invest on the TSX
Will buy a home in SA and transfer money as I need it
I will continue to pay taxes in Canada
Do I have to register in SA as a tax payer and pay tax on my Canadian income?

Provisional 2016 tax calculation

  Written by Marc   Posted 4 January 2016

I want to do provisional 2016 tax calculation, I am on pension from 1 Nov - did received a normal salary, I did received a lump sum with tax directive and pension payment with tax directive
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