Provisional tax for business and personal

  Written by Marc   Posted 25 August 2015

Last month I registered my company as a Pty Ltd (previously I was a sole proprietor and was being taxed in my personal capacity). I am paying myself a monthly salary from my company, plus charging the company for a portion of the cell phone bill, etc. With respect to provisional tax, are my following understandings correct:
(a) In general, do I need to pay provisional tax both in my private capacity and as a business?
(b) Do I need to pay provisional tax now [August] for my business? (if not, when will I first need to complete my provisional tax return for my business?)...

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Should I correct my IRP5 myself or submit it as received?

  Written by Marc   Posted 25 August 2015

My employer loaded code 4005 as the amount that I contributed, and code 3810 the amount that the employer contributed. I thought code 4005 is supposed to be the total amount that goes to the medical aid or am I wrong?
The sum of the two amounts was then loaded to codes 4116 and 4497. I believe this is another mistake. Should I correct it myself or submit it as received?

TAX BRACKET

  Written by Marc   Posted 25 August 2015

How much should I earn per month to fall into the tax bracket??

Must I register for Tax

  Written by Marc   Posted 25 August 2015

Hi Tim, I would like to know if I need to register for Tax. My gross is R12500 per month and my nett salary is R 11001. 00

Percentage tax payable on a monthly pension of R15253

  Written by Marc   Posted 25 August 2015

What is the tax on a monthly pension of. R 15253

TAX CLEARANCE MEDICAL AID CERTIFICATE DUPLICATION

  Written by Marc   Posted 25 August 2015

I submitted my tax claim for 2015 on SARS and made a mistake the first time (not adding medical aid tax amount) and requested a correction ( added the tax amount ) but then I was under audit so today 30 days later I receive a phone call from SARS asking me to submit my tax clearance breakdown certificate, the only problem I have now is that I didn't even know you should claim the slips because they are added in to the tax clearance breakdown certificate. Now what will happen?

the la...

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No travel allowance tax claim help

  Written by Marc   Posted 25 August 2015

I am using my vehicle for business purposes and I kept a Skytrax logbook. I traveled about 40% of my KM's for business. I do not have a travel allowance and my commission was less than 50% of my income. Can I still claim my travel expenses? My Employer is not willing to amend the IRP5 to include a travel allowance. I still feel that I am out of pocket and I was not advised by my Employer when I started that I should structure my salary with a travel allowance. Please advise if there is a way...

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Why do I need a tax practioner number to register on Efiling?

  Written by Marc   Posted 25 August 2015

When I try to register as an individual on eFiling, it requires a tax practitioner number and I cannot proceed - I am confused.

What are the requirements to claim the expenses for my home office as a deduction from income tax.

  Written by Marc   Posted 25 August 2015

I am a subcontractor doing Business Analyst and Project Management for a company that develops software. I am doing work from my home office on a regular basis. I would like to know if you have a BASIC list of expenses I should list and gather documents for to prove. What are the requirements to claim the expenses for my home office as a deduction from income tax

When do I submit tax for the first time?

  Written by Marc   Posted 25 August 2015

In March 2015 I embarked on my freelancing career. I have been working for numerous companies of which some pay tax and some don't. I also have a business where I get a percentage of profit share. Am I correct in saying that I need to register to become a provisional tax payer and when do I file my first submission?

Medical refund from SARS - made a mistake?

  Written by Marc   Posted 25 August 2015

Good day, I submitted my tax return on Saturday only to find out on Monday that I left out some medical stuff I need to claim for, can I resubmit my tax return after I already got a refund from SARS?

How long does a refund take?

  Written by Marc   Posted 25 August 2015

On Thursday last week I got a letter of completion from SARS, on Friday Morning my Statement of account saying i'm due a refund and I check i'm not selected for audit or verification. When can I expect the refund in my account?

Can my husband use my medical aid slipt that he paid for for his tax return

  Written by Marc   Posted 25 August 2015

Will you please assist me, me and my husband and kids are on a different medical aid plan, but we pay everything together. Can he use my medical aid slips that he paid for to do his tax return?

Your assistance will be much appreciated

Travel expenses claim?

  Written by Marc   Posted 25 August 2015

I have done freelance consultancy work for 2 companies over a period of 3 months. The other months of the tax year I have been in fixed employment at a companies deducting PAYE with no travel allowance. Have not kept details of fuel and vehicle expenses. Can I claim a travelling expense for the 3 months based on kilometers driven ito the fixed cost and variable cost travel allowance method? If not what method should I use for travel expenses as a deduction against the production of the consultan...

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Contributing to Botswana medical aid scheme, is it tax deductible?

  Written by Marc   Posted 25 August 2015

I am a tax returning resident to South Africa. Been working in Botswana for the last 16 years and tax returned to work in RSA from June 2014. I have been contributing monthly to a medical aid scheme in Botswana(BOMAID), will this be deemed tax deductible to SARS?

Do I need to pay tax and can I qaulify for VAT number

  Written by Marc   Posted 24 August 2015

I have a contract with one of the courier companies, I make _R3400 per week then pay my driver R1000 and use _R1300 for petrol and clear _R1300, do I still need to pay tax?

Tax for pensioners

  Written by Marc   Posted 24 August 2015

I am helping someone with their tax. The person is 66 years old and has an monthly retirement annuity payout of R7000 and monthly interest (from investments) of about R4000 that gets paid out also monthly to them. Should a tax return be filed,or are there exemptions? I know the over 65 year olds get exempt of certain amounts for interest earned,but im not sure if that is the only excemption,or is there a total amount of income they are excempt of? Or must you add the two excemption amounts toge...

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Depreciation for SARS.

  Written by Marc   Posted 24 August 2015

I have used TaxTim to calculate my depreciation. SARS is now looking for supporting documentation. What do I need to submit?

How long will it take for me to get my SARS refund?

  Written by Marc   Posted 24 August 2015

I submitted my tax return on 13 August 2015. I called the call centre to find out if I had any outstanding tax returns and I was told my 2012 tax return was outstanding. I informed the consultant that I had been unemployed in the 2015 tax year and he talked me through submitting a nil tax return via eFiling on 20 August 2015. How long will it take SARS to pay me my refund for the 2015 year of assessment?

SARS could not give me my refund and I was due to one

  Written by Marc   Posted 24 August 2015

I reported a problem to you last week that SARS could not give me my refund and I was due to one and not selected for an audit as more than two and half weeks have passed since I submitted my tax return. I went there on 20th of august to check only to find out that they needed me submit again for 2011 and 2012 and I did that so when can I expect my tax return for the 5th of august

Why is my refund taking so long?

  Written by Marc   Posted 24 August 2015

I filed my tax return on the 15/07/2015 and I am due for a refund, would you know why I have not received my refund? Previous years it took 2 - 3 days. As per the statement of account there is nothing outstanding and I have not been selected for an audit.

Provisional Tax Calculation

  Written by Marc   Posted 24 August 2015

how do i work out the estimated profits for provisional tax payment to be effected end of august?

Travel expenses?

  Written by Marc   Posted 24 August 2015

Can I claim on money spent on public transport-travel expenses.

Tax paid to SARS?

  Written by Marc   Posted 24 August 2015

Let's say I earn R6500 per month

Do I have to pay tax?

Is TAX deduction calculated from your gross salary only or from gross salary plus benefits

  Written by Marc   Posted 24 August 2015

I earn a gross salary of R26000. 00 plus I have company benefits of R3881. 00 (being medical aid). When working out the TAX deduction on my salary, is it calculated from R26000. 00 or from R26000 R3881? I see that my current TAX deductions are TAX R5491. 94 UIF R148. 72 and I am just wondering how that was determined. Thank you
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