Car Deductions

  Written by Marc   Posted 23 October 2015

As a SARS commission earner, I keep a detailed logbook. Do I need my petrol slips for anything?

also where does deemed vs actual cost come in?

Can I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table

  Written by Marc   Posted 23 October 2015

I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?

Refund on tax paid for shares payout

  Written by Evan   Posted 23 October 2015

Hi,
I was employed by Woolworths and we belonged to a share scheme where we had to stay in the companies employment for 5 to 8 years in order to qualify for the payout. All payouts were taxed. I am now unemployed. Do I have to submit a tax return for the shares payout that we received? Does SARS refund you the tax that you paid on that payout?

SARS source code for Dividend Income/Foreign

  Written by Marc   Posted 23 October 2015

I received an IT 3(b) statement from dbXTrackers with a new (wasn't there last year) entry, under Dividend Income, namely, Foreign. Can you please advise what is the correct SARS source code for:
Dividend Income / Foreign?

Tax number for employee from Zimbabwe

  Written by Marc   Posted 23 October 2015

Hi, I would like to find out how I register an employee from Zimbabwe for tax and how can I get a tax number for this person?

By when must all returns be submitted

  Written by Marc   Posted 23 October 2015

By when must all tax returns be submitted

Customs codes on VAT returns

  Written by Marc   Posted 23 October 2015

Where can I find a list of customs code for use on VAT201 returns?

Can PAYE, UIF and Provisional Tax be claimed on Income Tax Return (ITR14)?

  Written by Marc   Posted 22 October 2015

Hi TaxTim

I would like to now, can a Company claim PAYE, UIF and Provisional Tax on a Income Tax Return (ITR14)?

Thanks in advance.

What is my tax number please from SARS?

  Written by Marc   Posted 22 October 2015

How can I get my tax number? I have misplaced it

Never submitted a tax-return

  Written by Marc   Posted 22 October 2015

I have always been horrible with tax and have never submitted a tax-return. I was unaware that is was a "must-do", as I paid tax as per normal. What will happen to me?

Do not know how to complete the Local Business, trade and professional income section

  Written by Evan   Posted 22 October 2015

I am struggling to capture my income and expenses generated as a consultant. I do not know which fields to complete having gone into Local Business, trade and professional income.

Do I need to file a tax return and pay tax

  Written by Marc   Posted 22 October 2015

My question is whether you need to submit a tax return if you are not permanently employed and don't have an employment contract and your income is less than R300 000 per year but more than R100 000? If you do not have to submit a tax return do you then have to pay tax?

Wear and tear calculation for the 2015 tax year for a self employed individual

  Written by Marc   Posted 22 October 2015

With respect to self-employed individuals for the 2015 tax year... What is the write off period for a vehicle used for business travel?
Is the cost of the vehicle divided by 4 or 7 years? I'm trying to calculate the wear and tear amount which I can include for the calculation of actual costs. Thanks!

Please help with supporting documentation.

  Written by Marc   Posted 22 October 2015

Can I submit my supporting documents to you? Or must I do it via eFiling?

The email from both SARS and you does not clearly indicate which documents to submit. Regards

Is there any tax liability in South Africa on the cash portion (commutation) of a UK State pension?

  Written by Marc   Posted 22 October 2015

My wife and I are both citizens of UK, permanently resident is South Africa. We are both about to draw our deferred UK state pensions, and we intend to commute the deferred portions for cash, roughly R500 000 each. Is there any tax liability in South Africa?

Difference between source code 4001 and 4002?

  Written by Evan   Posted 22 October 2015

The retirement form questions on TaxTim ask if I have code 4002 on my IRP5. I don't have 4002 (ARREAR PENSION FUND CONTRIBUTIONS), but I have 4001 (CURRENT PENSION FUND CONTRIBUTIONS).

Can I not claim for this contribution?

How to create own profile on e-filing and request profile from Tax practitioner

  Written by Evan   Posted 22 October 2015

How do I register for SARS eFiling if a tax practitioner has me on her profile? I would like to do my own taxes as from next year. She advised me to create my own profile and then request my profile from her.

Response from SARS however:

"We were not able to match the captured information against that which we have on record for you. Please confirm your information, recapture your password and then select the 'Continue with Registration' button below to proceed with the re...

Read more →

Extension for submission

  Written by Evan   Posted 22 October 2015

When is cut off for SARS efiling and the easiest way to apply for an extension?

Additional income capture for private work I was not taxed on

  Written by Evan   Posted 21 October 2015

I did some private work during 2014 for which I was remunerated, but not taxed. Please advise how to add this to my tax return and how to claim for the expenses incurred in this period as well.

When must I pay income tax?

  Written by Marc   Posted 21 October 2015

Hi. I started helping people in gardens doing gardening jobs 4 years ago. It was very still in the beginning doing about 8 jobs a month and just surviving. I now have more clients and want to know if I must register a company and what about the previous years of earning something. Must I pay a penalty.

This is my first time to submit my tax return

  Written by Marc   Posted 21 October 2015

I have never submitted a tax return before, will I be penalised for this

Are penalties incurred for late payment to the Municipality vatable?

  Written by Evan   Posted 21 October 2015

I would like to know whether late payment of license disks for company cars and the related fines and penalties are vatable, that is, can you claim input tax on the penalties and fines incurred to the traffic department?

Depreciation for commission earner 2015

  Written by Marc   Posted 21 October 2015

As a commission earner, calculation depreciation. I use 2 vehicles for both personal and business. Would I calculate depreciation as price of vehicle / 5?
or would I factor % of business?

Lost tax number?

  Written by Marc   Posted 21 October 2015

How can I get my lost Tax number? And which options must I choose if I call the SARS number

Terminology between Verification and being audited?

  Written by Marc   Posted 21 October 2015

Hi there. Is there a big difference between verification and being audited?

Regards. Ulf-Dieter
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