SARS Tax Calculator - Is medical rebate taken into account for PAYE or must it still be deducted?

  Written by Marc   Posted 16 September 2015

If I use your (SARS) tax calculator must I still deduct the medical rebate of R257. 00 per month from the PAYE amount or has a medical rebate already been taken into account when the calculation was done. There is no question about medical contributions in your calculation?

Can I file previous year returns example 2014?

  Written by Marc   Posted 16 September 2015

Can I file previous year tax returns example 2014?

Alternate refund claim procedure

  Written by Marc   Posted 15 September 2015

How to get income tax refund if I don't have bank account?

How do you fill in the income part for farming income on the IT12TR?

  Written by Marc   Posted 15 September 2015

How do you fill in the income part for farming income on the IT12TR?

Helpful info about tax filing.

  Written by Marc   Posted 15 September 2015

What does it mean when your tax status says "Return - Assessed"

Balance on assessed amount from SARS, what does it mean?

  Written by Marc   Posted 15 September 2015

What does in mean balance on your assessed amount is R224. 567. 90?

Depreciation of a trawling boat

  Written by Marc   Posted 15 September 2015

What is the depreciation per year of a trawling boat of R150000

How do would you interpret paragraph 5, subparagraph 2(b), of the 7th Schedule?

  Written by Marc   Posted 15 September 2015

In the 7th Schedule, paragraph 5, subparagraph 2(b), the reduction R5000 reduction in lieu of a long service award; is it interpreted as R5000 per long service award, or R5000 per long service?

Provisional returns submitted but not assessed and no income tax form on efiling

  Written by Marc   Posted 15 September 2015

I am a provisional taxpayer and have completed an IRP6 for 201402, 201401 and 201501. My last assessed year was 2012. I still need to complete the 201502 and 201601 IRP6 tax returns. On my SARS SARS eFiling page my IT12 does not show as issued. Is this normal? When will it be issued? Should I contact SARS to check

What exchange rate to use on foreign dividend inclusion

  Written by Evan   Posted 15 September 2015

When calculating the Rand value of foreign dividends to be included into taxable income under s1, what exchange rate must be used if the dividends accrued over a period of a year? If I received 83.69 pounds over the year of assessment, is the amount converted to Rands at the average exchange rate over the year or at the exchange rate present on the 28th of February? The Act doesn't provide any clarity on this.

How much tax to pay new employee

  Written by Evan   Posted 15 September 2015

I'm starting a small business, if I pay an employee R15000 monthly, will he need to get SARS registered and how much tax will be deducted? It is only UIF he is registered for.

What income do I declare on IRP6 now that I earn a salary too?

  Written by Evan   Posted 15 September 2015

Hi. I have been submitting provisional tax returns (IRP6) for a few years but since December 2015 have entered full-time employment, and hence receive an IRP5. I still however earn some money doing approved work outside of my full time employment.

Do I declare only my extra earnings on my IRP6, and then the total earnings on my ITR12, or do I declare my total earnings, i.e. Salary plus extra earnings, on my IRP6?

How to legally handle an amount of R500,000 paid to parents for purchase of retirement home.

  Written by Marc   Posted 15 September 2015

My husband and I are over 75 and because of his health problems have sold our home and bought in a Retirement Estate with Frail care. Our son, has donated R500,000 towards the cost of the unit. He is not resident in S. A. So will not be liable for tax but we have been advised that, he can donate annually, an amount of R100,000 which in 5 years will cover the original amount. Is this correct? We do not pay income tax as our only income is through interest on investments and a small pension receiv...

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Tax implications of cash donation received

  Written by Marc   Posted 15 September 2015

Is donation received included in gross income?

Only worked two months of the tax year.

  Written by Marc   Posted 15 September 2015

I started work in January 2015 and my tax was based on an annual salary however as of February 2015 technically I had only earned 2 months salary and not the full years salary. Would I be correct in saying that I should be refunded the tax I paid in January and February?

Audit/Verification duration

  Written by Marc   Posted 15 September 2015

Hi, I submitted my 2015 tax return and was selected for audit/verification. The supporting documents were uploaded on the same day (15/08/2015) I am not due for a refund, in fact I had to pay in a small amount, also paid on 15/08/2015. I have not heard anything back from SARS. How long does this normally take?

If I earn between R1000 and R1500 how much tax will I be charged?

  Written by Evan   Posted 14 September 2015

Hello TaxTim, I'm planning on becoming a tutor at a university that I'm currently at and they told me they need my tax number. I'm not sure exactly how much I'd earn, however I've been told it is not much; actually something like R1000-R1500 per month depending on the module. Would I be expected to pay tax, if yes please kindly tell me how much?

Source code for christmas bonus

  Written by Marc   Posted 14 September 2015

Source code for christmas bonus

My account disappears and I can't log into my profile

  Written by Marc   Posted 14 September 2015

I have registered for SARS eFiling about 8 times now. They asked for supporting docs as my bank details changed. I have submitted these every single time. And I have faxed my registration form and ID to the number they sent me. But then when I want to log into my profile it keeps saying I have the wrong password. I dont. I have written everything down, after the 3rd attempt of registering I am making sure the info is correct. I get to the point where I supply them with the requested docs and the...

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What must I do when they require me to file last years tax return? This year was my first filing

  Written by Marc   Posted 14 September 2015

This was the first year I've filed a tax return. But I have paying tax via my salary for 4 years. Main reason I haven't filed in the past was because I was told on my salary amount, it was not required. After filing this year I was awarded a refund of R2300 odd. Having been waiting a while for them to pay the money to my accounts. I decided to give them a call and ask what the hold up was. They say they require me to file my tax return for the previous year for them to proceed?

What d...

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Is donations tax not double taxing?

  Written by Marc   Posted 14 September 2015

Hi, I am not sure about donations tax, why do I need to pay tax on donations I make if I have already paid income tax on this money? The way I see it this is double taxing? do I understand this correctly?
I pay 40% tax on my income and now when I want to give someone more than R 100 000 for whatever reason I now have to pay an additional 20% of tax on that as well? do I understand this correctly?

When and why must I do efiling?

  Written by Evan   Posted 14 September 2015

My employer does deduct monthly tax from my salary. My income is not more than R250000 a year. I have no other income that I earned or interest rates or dividends I earned. Do I still have to do SARS eFiling? Thank you

What source codes are used for Investment Income interest?

  Written by Evan   Posted 14 September 2015

What source codes do I use on my tax return for Investment Income as listed in my first submission?

If my parents medical aid is paid from my bank account how can I include them in my return.

  Written by Marc   Posted 14 September 2015

If my parents medical aid is paid from my bank account how can I include them in my tax return?

How is tax on share options calculated after death?

  Written by Marc   Posted 14 September 2015

My dad passed away in Aug 2013 and had a bunch of share options that went into his estate. We sold the share options in Dec 2014, and the estate was wound up and distributed in Feb 2015. However, they taxed the share sale at the maximum tax rate. Should the share sale go into the 2013/2014 tax year when he died, or should it be in 2014/2015 as that's when the sale was actually made? Basically, I want to check if we can claim back the tax paid as it was his only earning in 2014/2015.
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