Tax treatment of medical aid contribution of an adult dependent who is a student .

  Written by Marc   Posted 30 July 2015

My son is over 21 years and still my dependent , as he is still going to university . He has fallen off my existing medical aid as a dependent due to his age . I have now arranged a new medical aid for him and I personally contribute with my after tax income . How do I claim this expenses as he is not working?

PAYE payable calculation differences

  Written by Marc   Posted 30 July 2015

I would like to find out the PAYE payable on a person receiving R16636. 60 monthly, no pension fund or any other deduction except SDL, UIF and PAYE. This person is 74 years of age, turning 75 in November 2015. I calculated the amount to R1390. 87 but the system calculates it as R1067. 11. I cant seem to figure out why the calculation result differs. For the 2016 tax year.

When and how to correctly Declare a Divorce Settlement?

  Written by Evan   Posted 30 July 2015

Hi Tim, I was paid my divorce settlement last month, so not in the current tax year applicable to returns. Does the settlement need to be declared now or only in the next returns cycle that applies to the month the settlement was received in?

Also, I'm aware that the settlement is exempt from Tax and I got the necessary documents from the lawyers accordingly, do I still need to formally declare this amount?

Expected payout

  Written by Evan   Posted 30 July 2015

Hi, I submitted my tax return yesterday morning and was issued with a ITR34 at 9:34. When can I expect payout?

No details loaded on my employer certificate / IRP5, it's empty - help!

  Written by Evan   Posted 30 July 2015

I have just been online to complete my Tax Return and am a bit confused. When generating my return I note that there is a certificate loaded onto the SARS eFiling system, but no particulars are loaded on it. It is empty of information. Really confused. Please help!!

Correction of IRP5 by employer

  Written by Evan   Posted 30 July 2015

The amount stated on my IRP5 for my Travel Allowance is wrong. My employer decreased my allowance without my knowledge and I've only picked up the error now. My employer says it's too late for them to correct it. I now can't claim the full amount of my travel expenses for the year.

Why can't my employer submit the correct figure to SARS and give me a new IRP5?

Claims not paid by medical aid and code 4020

  Written by Evan   Posted 30 July 2015

The claims not paid by my medical aid that they have record of which is depicted on my medical aid tax certificate. Is this already taken into account on my tax return, or do I have to explicitly put this value under code 4020?

IRP5 from previous employer on eFiling, but I don't have the document

  Written by Evan   Posted 30 July 2015

My last payment from my previous employer was end on March 2014 - for the month of March 2014. I see that the IRP5 for that month is loaded on my tax return on SARS efiling. Can I go ahead and file, or should I wait I receive the physical IRP 5 copy from my previous employer? I have asked them for it - no response yet though.

Return submitted to SARS not showing in eFiling

  Written by Evan   Posted 30 July 2015

Hi. I submitted my tax return this morning through TaxTim, but do not see it on EFiling. Please check why.

Can I get IRP5 documents that were destroyed in fire?

  Written by Marc   Posted 30 July 2015

I worked for a retail company from 2006 - 2009 and I paid for my Tax. When they retrench us they gave us our IRP5. Mine got got burned in my shack and I lost them. In that way I was never able to claim for my Tax. How do I go about to obtain them again. Does my company have them on record as I am working for another company now and they told me to have my previous employer IRP5 if I need to file for Tax Return purposes.

Can I claim retirement annuity in wife's name?

  Written by Evan   Posted 29 July 2015

My wife is not working. She used to work but resigned in 2007. I kept on paying her retirement annuity policy. Can I claim it from SARS???

Vehicle depreciation rebate from SARS

  Written by Evan   Posted 29 July 2015

Dear Tax Tim. I currently earn a vehicle allowance from my company which I claim a rebate back from SARS according to the business milage that I have done. Is it possible to claim back a rebate for depreciation on my vehicle as well?

The 2007 return is a very simple one, its pure Income tax, no claims, no supporting docs required.

  Written by Marc   Posted 29 July 2015

Hi Tax Tim. On 06/07/2015 I went to submit my tax returns as far back as 2007. I had been living abroad working intermittently on the odd year in SA. SARS were great, all tax returns were filed with no claims on any tax deductions so no supporting documents required. I have a tax return due to me however because the 2007 tax return was so far back its gone for processing and now is holding up my tax return from all the other years. The 2007 tax return is a very simple one, its pure Income tax, n...

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Which tax rates apply to lump sum withdrawal after transfer from provident to preservation fund

  Written by Marc   Posted 29 July 2015

I'm over 55 years of age and was retrenched at the end of March 2015. Following retrenchment I chose to transfer my provident fund to a preservation fund. Now, four months later, I'd like to withdraw the full benefit (more than R1 050 000) as a lump sum from the preservation fund. Will I still be taxed for the lump sum withdrawal as a retrenched person (i. E involuntary termination of employment) or will I now incur the higher rates applicable to persons who terminate employment voluntar...

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Investment and capital transfer

  Written by Evan   Posted 29 July 2015

I have recently got married to a UK national and he is wanting to transfer some funds for an investment in SA. He is going to transfer the funds into my current account which I will then transfer into a unit trust.

Firstly do I need to submit a donations form they have on the SARS website and if it exceeds the R100,000 will it be liable for tax?
Secondly the income from the investment will be paid monthly. If it exceeds the R23,080 annual exemption what is the rate on the excess? Is it still taxable even if it is below R70,000 per year? I have no remuneration just the investment income....

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Treatment of legal costs in CCMA

  Written by Evan   Posted 29 July 2015

Was unfairly dismissed and at CCMA employer agreed to retrench me. I received the correct tax directive. How do I claim the legal costs incurred to fight my employer? I am unemployment but received rental income from my properties during the tax year.

Medical tax credits refunded into my account?

  Written by Evan   Posted 29 July 2015

I have a medical scheme tax credit of R12,360.00, claims not recovered from scheme of R10,455.29 and out of pocket expenses R5,295.84. Usually the receiver would refund me this expenses straight into my bank account. They told me that the legislation has changed when I queried this. Who receives this credit and how do I claim it back? I have unpaid medical expenses for 2015.

I need my password and forgot all the details

  Written by Evan   Posted 29 July 2015

I want to check my status on my tax return but am struggling to login to my SARS eFile account?

If I work overseas for two years on contract could I be liable for SA tax?

  Written by Evan   Posted 29 July 2015

I am going to work in Dubai on a two year contract and will spend less than 90 days in both these years in South Africa. However, I am leaving my family home, wife and children in South Africa. Would I be defined as ordinarily resident in SA and liable for SA taxation?

What tax do you pay for lump sum before pension if you are retrenched?

  Written by Evan   Posted 29 July 2015

I am getting a retrenchment package. I am under 55 what tax will I pay on my pension R300,000 if I get it paid out?

Tax return not submitted 2008

  Written by Evan   Posted 29 July 2015

Hi Tim, I have submitted my tax returns from 2010 to date but did not from 2008 and 2009 as I thought I was below the earning bracket. I called SARS now and I am due for a refund but they want my tax return for 2008 and 2009. How do I go about doing this?

How much post-tax funds will I have after retrenchment?

  Written by Evan   Posted 29 July 2015

How much tax will I pay on R1,030,935 severance package due to retrenchment? This excludes my provident fund, which I will move to a preservation fund or RA.

How do I get refund from SARS?

  Written by Evan   Posted 29 July 2015

I worked for a company last year and they deducted tax from my salary will I be able to get a refund?

Travel Allowance Reimbursement Code

  Written by Evan   Posted 29 July 2015

If I travel for business purposes and I do not get a travel allowance, then the company reimburses me at the AA rates. How does this amount get taxed? And should I be paying tax on this?

I see the company reflected this under code 3702, should it not be under code 3703?

Register for tax return

  Written by Evan   Posted 29 July 2015

Good morning sir how do I register?
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