What should I take into account as "Financial Instruments listed"

  Written by Marc   Posted 13 November 2015

I am a director of a private company. On my ITR12, I am required to complete the SOLALA01 section but I am not sure what should be listed under "Financial Instruments Listed"

Daddys Deals voucher

  Written by Evan   Posted 13 November 2015

I bought a Daddys Deal of 50% discount. Where do I enter the code?

Incorrect medical expenses, can I correct my tax return that is already submitted?

  Written by Evan   Posted 13 November 2015

I calculated the incorrect amount for my medical expenses, but I see my tax return is already submitted. Can I still change the amount? And how do I upload my documentation?

Can you complete the tax return for me?

  Written by Evan   Posted 13 November 2015

I have all data available. No patience or time to complete tax return.
Can you please assist?

Where do I declare full cash payment from pension fund?

  Written by Evan   Posted 13 November 2015

I transferred from one company to another that outsourced their information systems department with a section 197 transfer a year ago. I decided to withdraw the full cash from my pension fund, as the money in my pension fund could not be transferred to a provident fund without being taxed (not sure it this is correct). Could you please advise where to declare the full cash payout / income that I have received?

Is there any entitlement from GEPF after my pension money was paid?

  Written by Evan   Posted 13 November 2015

I have worked for the public service for 15 years and resigned end 2014. I received my pension pay out around February 2015. Is the anything that I still need to claim back from GEPF? by means of tax returns???

Documents for SARS

  Written by Marc   Posted 13 November 2015

Hi Tim,

yesterday I downloaded documents for SARS to the site. I just wanted to find out whether they have been submitted. Thanks
Deano

Stipend and Capital Gains Tax for student studying abroad

  Written by Evan   Posted 13 November 2015

I am a South African citizen who used to work in SA (tax registered), but have been studying full time in the UK since February 2015, being paid a monthly stipend of 1150 pounds by my financial sponsor (It sounds like a lot if converted to Rand, but it is barely enough). Do I have to pay tax on this income in South Africa?

I am about to sell a property in South Africa which I inherited from my Dad and the Taxable Capital Gain ((Proceeds - Base Cost - Annual Exclusion)*33.3%) will be r...

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Do you submit my tax return automatically once done to SARS?

  Written by Evan   Posted 13 November 2015

I have just completed my tax return with TaxTim's help and I've paid via EFT. Will my tax returns be automatically submitted to SARS? What is the process now?

Deductions for 3713 motor vehicle allowance

  Written by Evan   Posted 12 November 2015

I receive a car allowance listed under code 3713 on my IRP5 in addition to my reimbursive travel claim, listed as 3702. Can I claim any deductions against the 3713 allowance and if so, what deductions will be allowed?

Part-time home studies tax rebate for bond/rental?

  Written by Evan   Posted 12 November 2015

Which section of the Income Tax Act allows one to claim a deduction for bonds/rent if one is studying part-time from home?

How to calculate deductions for a director who does not draw a salary every month

  Written by Evan   Posted 12 November 2015

I am doing basic bookkeeping functions for a company. The director has never drawn a salary but intends to do so for the next 2 months at R50000 per month. How do I calculate the deductions and pay UIF etc. over to SARS?

Supporting documents for capital gains

  Written by Evan   Posted 12 November 2015

I just got notified that you submitted a revised ITR12 which records the primary residence exclusion of R2000 000. The new ITA34 I received now reflects an amount of -R14 290. 15. But now I am being audited. They are not clear on the documents that I have to submit. They ask for my IRP5, medical aid certificate, IT3B tax certificate. With regards to the capital gains part, there are no specific requests. Should I submit the final statement of accounts for the purchase and sale of my former resid...

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How to treat PAYE for a post doctorate student

  Written by Evan   Posted 12 November 2015

Will a person busy with a post doctorate receive any tax breaks or will they have to pay PAYE based on the monthly "salary" received as normal?

How do I get an IT150

  Written by Evan   Posted 12 November 2015

I have been out of South Africa since April 2011. I have been paying tax in Namibia and have a certificate of good conduct from the tax authority. I have now applied for work here in RSA but they are asking me for a IT150. What is it and how do I obtain it?

How much should I be taxed?

  Written by Marc   Posted 12 November 2015

I am employed as an independent contractor working 6 hours a week for R5625 monthly before tax. I only work 8 months of the year and have been told by law I should be taxed 25% as PAYE. Is this correct?

Requests for documents

  Written by Marc   Posted 12 November 2015

I submitted my forms and got asked to submit some documents, which I did, but I'm not sure I did it correctly, as I haven't gotten any feedback after the first requests for documents. How will I know if they need more from me? Must I call them? I'm scared that they will fine me. Regards

No tax certificate for medical insurance

  Written by Evan   Posted 12 November 2015

Hi Tim. We don't have a medical aid, we have a medical insurance. They don't provide Tax Certificates. Can we still use the monthly deductions as medical expenses?
Thanks

Due date for ITR12 as a Provisional Taxpayer?

  Written by Marc   Posted 12 November 2015

Have submitted my two Provisional Tax tax returns for this year already, and still need to submit my ITR12. When is that due? It's the first time I'm doing it myself after getting rid of my accountant. Also if I decided to get TaxTim to do it, what all would I need in terms of documentation, and how simple is the process through your guys?

Foreign income in Cayman Islands

  Written by Evan   Posted 12 November 2015

I will be working in the Cayman Islands for 2 years. This is a tax free jurisdiction. I just wanted to ask what the tax implications would be in my tax return. Many thanks

Should a freelance scriptwriter working from home pay tax as an individual or as a sole proprietor?

  Written by Marc   Posted 12 November 2015

Should a freelance scriptwriter working from home pay tax as an individual or as a sole proprietor?

Can I claim private or official used km

  Written by Marc   Posted 11 November 2015

Income source code 3802 can I claim private or official km

Is a sole proprietor a business?

  Written by Marc   Posted 11 November 2015

If I earn income as a sole proprietor for doing admin and accounting work am I considered to be running a business?

How do I account for various line items in IT3b Discovery investment certificate?

  Written by Evan   Posted 11 November 2015

I receive two tax certificates from Discovery for the same investment product. One is an IT3b, the other an IT3c. While the IT3c shows a source code of 4250, the IT3b does not show source codes. It shows "Gross foreign dividends", "Local interest voluntary", "Gross foreign interest" & "Local dividends (exempt)". It also shows withholding tax on 3 of them, and a "Net total".

When declaring my local interest earned, should I add just the "Local interest voluntary" amount from Discovery...

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Resigned how to get refund from SARS?

  Written by Marc   Posted 11 November 2015

I resigned from work,how do I know I am eligible for return from SARS
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