Employed by a foreign company, and need to pay over my own tax, how much will it be?

  Written by Alicia   Posted 30 May 2016

I've recently become a contractor to an overseas company, I've been informed, that I have to pay my own income tax. I send them invoices. My monthly invoice fluctuates between 22000 and 30000 as I get paid on a daily basis. I don't get an IRP5, and I pay my own medical and recently setup my own RA contribution. I need to pay my tax. When and how much do I need to pay. I've been a contractor for them from January 2015 to now May 2016

Can I still update my new address with SARS?

  Written by Alicia   Posted 27 May 2016

I worked at one company up until September 2015 and started at a new company in September 2015, when I moved to my new company I also moved house so on my previous employers IRP5 submission it has my old address and on my new Employers IRP5 it has my new address. If 2 IRP5's get submitted to SARS with conflicting addresses to SARS will this have any implication for me?

Tax on part time work

  Written by Alicia   Posted 27 May 2016

I am currently employed and my employer pays PAYE. Recently I undertook small part time jobs probably totaling around R40 000 income for the financial year. Do I need to register as a provisional tax payer, or can I declare this additional income under the local business section of my SARS tax return?

Can I deduct salaries I pay from my unrelated salary for income tax purposes?

  Written by Alicia   Posted 26 May 2016

Hi, I have a quick question, I am a permanent employee of a company and earn a monthly salary from which I pay medical, pension and pension fund, all deducted straight from my salary. I in turn have two people employed by me on a permanent casual basis, they are paid roughly R2500 each per month, could I get a tax deductions for this?

what expenses can i claim if I own a taxi?

  Written by Alicia   Posted 26 May 2016

If I own a second vehicle and use that second vehicle 100% as a Taxi. Would the tax be payable on only the income or payable on income - (minus) expenses?

For example, monthly costs breakdown as follows:

Expenses: Vehicle Repayment Costs - R1500 / Vehicle Insurance: R1100 / Vehicle Tracking Costs: R100 // Total: R 2,700. 00

Income: R 8,000. 00

Income (R 8,000. 00) - Expenses (R 2,700. 00) = R 5,300. 00

My question is. Would I pay tax on the income of R 8000 before deducting expenses...

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Can I still pay UIF if I dont have a tax number?

  Written by Alicia   Posted 25 May 2016

I have been working for 2years now and my employer gave me a Employee Income Tax Certificate(IRP5). I don't have a tax number but there's deduction for UIF,I would like to know where is that money going to

Am I really an independant contractor?

  Written by Alicia   Posted 25 May 2016

I am soon to start with a company which has listed me as an independent contractor. - I will be working from home after my initial 6 week training/trial period. - I will go to business meetings. - My main earnings will come from this company
- They reimburse for internet, phone and training course up to a certain amount. - They say in the contract that they will not pay PAYE, UIF or anything like that. - I am to invoice them at the end of every month
- I have no indication of leave days in the contract...

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Maximum tax deductible contribution towards a RA

  Written by Alicia   Posted 25 May 2016

I am trying to work out the maximum tax deductible contribution to a Retirement Annuity. Person earns R1 000 000 of which 75% is pensionable. Total contributions to pension fund is 13%. He made a capital gain of selling shares at R150 000, received rental income of R180 000 with R50 000 deductible expenses. I'm confused on how to work out this question. It states that max deduction for a RA is 15% of non-pensionable income. I get R250 000 R150 000 R130 000 = R530 000 x 15% = R79 500. However...

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Not a South African resident, but have a local investment, do I need to pay tax?

  Written by Alicia   Posted 25 May 2016

I'm a dual citizen having both South African and British citizenship. I have worked all my life in UK and am in full time employment under a contract with UK employer. I tax return to South Africa once every year and stay for a holiday between 4 to 6 weeks. If I invest in a fixed rate account of some R500 000 over 5 years, am I liable to pay any tax on that investment product as I'm not ordinary resident in South Africa for tax purposes not indeed even have a South African tax number

5 Great Reasons to File Your Tax Return Early This Year

  Written by Vee   Posted 24 May 2016

Are you the type of person dashing into the store to grab a birthday gift en route to a party? Or perhaps you’ve found yourself scratching through your craft box at 11pm the night before to make a ‘World Book Day’ outfit for your son? Or possibly you’re one of the hundreds of thousands of South Africans who waits until the last week of November to file your tax return?

While I’m not suggesting that every minute of your life needs to be pre-planned and organised, there are certainly a number of benefits to getting your tax done early...

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No payslips, no proof of PAYE being withheld

  Written by Alicia   Posted 24 May 2016

Good evening, My fiance has been employed by a small business as from the 1st of February 2015. His employer does not provide him with payslip nor did they provide him with an IRP5 when we needed to do his tax submission. When we submitted his tax returns for tax period 1st of March 2014 to 28th of Feb 2015 we had submitted the month of Feb 2015 blank and only stipulating the company's name. As another tax period is coming up, and no payslips can be provided to SARS, what does my fiance do. I wa...

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Tax return filing for an employee, who's PAYE is borne by his employer

  Written by Alicia   Posted 24 May 2016

Hi Team

If any employee goes on deputation to South Africa from any country and his PAYE is borne by an employer. Then who is responsible to file a tax return in South Africa employer or employee.

Am I required to pay tax?

  Written by Alicia   Posted 24 May 2016

Need to now if I must pay tax. I earn about R6000 but my employer deduct about R141,16 for Uif so that leaves me with R5,858

Return completion?

  Written by Alicia   Posted 24 May 2016

What are this code for 3696, 3697 & 3698?
where should we put the amount from certificate for income tax purposes from SANLAM?

Meaning of non taxable income

  Written by Alicia   Posted 24 May 2016

What doe a non taxable income means on my IRP5 code 3696

SARS Penalty for late tax return submission 2015

  Written by Alicia   Posted 24 May 2016

I haven't done my taxes for 2015. Will I get a fine?

Correct calculations for income tax for a small business

  Written by Alicia   Posted 24 May 2016

Please could you direct me onto the right path. I am in the process of starting a small agricultural business, small here meaning the minimum amount of employed staff as required by SARS to be classified as a small business, but the business has a very high income potential which does not correspond to the financial numbers required to be classified as a small business as stipulated by SARS. The figures exceed the indicated numbers as set forth by SARS. How do I calculate the correct business ta...

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How much CGT am I due to pay?

  Written by Alicia   Posted 24 May 2016

I inherited a property in 2007 (it was transferred into my name in 2007, although my dad passed on in 1997) - delay caused by issues with executing the will. I valued the property in 2002 for Capital Gains Tax and it was valued for R760 000 at the time. I want to sell the property now for R3. 95 million. I earn a salary of R480k per year. How much CGT will I have to pay?

Tax directive withheld due to tax debt

  Written by Alicia   Posted 24 May 2016

If tax payments to SARS is outstanding, why won't SARS issue a provisional taxpayer with a tax directive

Tax due on R24000pm

  Written by Alicia   Posted 24 May 2016

I am a Casual worker earning less than R24 000 a year a 25% tax is taken from my salary every month. Am I supposed to be taxed?

Can i claim back Transfer duty?

  Written by Alicia   Posted 23 May 2016

I recently purchased a property for residential use. The conveyancers submitted a Transfer Duty to SARS and the transfer fees equated to R12600. I normally get an IRP5 and medical aid forms from my company and submit my income tax when season opens. My question is what do I do with the transfer duty declaration for SARS issued me to be considered and is there any way of getting any refund on this transfer fees.

PAYE vs Provisional tax for a member of a CC

  Written by Alicia   Posted 23 May 2016

I am a member of a CC and have 80% interest in the company. I run the operations of the company and have been paying myself salary. The company never registered for PAYE as I was paying provisional tax and I was the only one earning a salary. Now the company is hiring more people and we have registered for PAYE/UIF. DO I carry on submitting provisional tax instead of PAYE or do I cancel Provisional tax and start paying PAYE. If I don't register for PAYE, what can the company provide me with to p...

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What will my tax liability be if I start a business?

  Written by Alicia   Posted 23 May 2016

Hi, I can provide services such as graphic design, animation, music production and web development. I recently caught attention of few business owners wanting me to do work for them, will I need to pay tax approaching them as self employed individual? I am prepared to charge everything once off based.

Rental income allowable tax deductions

  Written by Alicia   Posted 22 May 2016

I am currently in the UK and need some help regarding various tax related queries before I tax return to South Africa within the next 2 months

Including my tax return I did online before I left. (needs to be finalised)
A bank account change at SARS. (do I have to do it in Person)
I need to register a SA company for VAT. I would like to know how long I must be in the UK to have a tax benefit in South Africa. I have been working here since 1/1/2016 and have to tax return before 31/07/2016...

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Tax on inheritance received by an individual

  Written by Alicia   Posted 22 May 2016

I have recently inherited a sum of money from two sources. One, my late mother's estate account via a will and the other, a pension claim from my late mother's pension fund(GEPF). Both these amounts were taxed before they were paid over to me. Both the executors and GEPF submitted tax directives to SARS in order to facilitate the tax payment process before making payment to me. My salary income falls within the necessary category in order to be required to submit a tax return. How will I be taxe...

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