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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Wear and tear on coffee machines?

  Written by Alicia   Posted 22 May 2016

What is the wear and tear rate for coffee machines

Filing season start date?

  Written by Alicia   Posted 20 May 2016

When can I start on my tax claim,

How to complete the IRP3(a)

  Written by Alicia   Posted 20 May 2016

In terms of the IRP3(a), how does one do the manual calculations of the taxation that should be deducted if ''other''(X) is ticked under the directive reason, as there are calculations available for the retirement and severance benefits.

How does capital gains tax contributes to vertical equity?

  Written by Alicia   Posted 20 May 2016

Explain how capital gains tax contributes to vertical equity.

How is CGT paid, is it deducted from gross investment or added to gross annual income

  Written by Alicia   Posted 20 May 2016

If you are subject to capital gains tax, how is it paid, is it deducted from gross investment or added to gross annual income

VAT to be (not) charged to a EU company

  Written by Alicia   Posted 19 May 2016

We are supplying product to a company NOT registered in South Africa. Invoices submitted will be paid to the entity in Europe through a forex payment. THe installation of the product and services will be done in south Africa through. Do we charge the Customer VAT and include the VAT calculation in our EU invoice to them.

Exclusion of R 40 000.00 of Capital Gains Tax

  Written by Alicia   Posted 19 May 2016

Two sisters bought an apartment. When they sell the apartment, capital gains tax is applicable. This is not a primary residence. Is the R40 000. 00 exclusion for both sisters on the total amount of the asset or for each sister in calculating their cut of the income?

TaxTim and present SARS eFiling status

  Written by Alicia   Posted 19 May 2016

If I register with TaxTim how is my present status as an SARS E-Filing tax payer affected?

Do I need to de-register as an SARS E-Filer?

Is my income taxable if I only spend on average 3 months in a year in SA

  Written by Alicia   Posted 19 May 2016

I am almost 70 years old and receive four pensions from the Government Employers Pension Fund (GEPF). The pensions form 98% of my income, the other 2% is derived from annuities. I have two children, one lives is Australia and is an Australian citizen and the other lives in London and is a British Citizen. I spend most of my time visiting my children for six months periods and only spend about 3 months of a year in South Africa. Am I liable to pay personal income tax in these circumstances. I hav...

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Tax implication on provident lump sum fund benefit

  Written by Alicia   Posted 19 May 2016

I've been unemployed for the past six years. My tax number with SARS has been deregistered. Insurance company requested an IRP3 directive on my behalf from SARS. This was declined as I needed to re-activate my tax number. I'm awaiting for re-activation of my tax number. Presently I'm unemployed, will I be taxed and how much?

Can i setoff my personal rental against the rental income of my only property?

  Written by Alicia   Posted 19 May 2016

I built a home, had to move for work and am currently renting out my primary and only property for R16500 per month. In the area to which I moved for my new job I now rent a flat for R10 000 per month. Is there any differentiation in SARS for this scenario or is it regarded as an income of R 16500, I don't mind paying tax on the difference, but it feels like exploitation if I need to pay tax on the full amount of rent earned, I spend R 10 000 on having a place to stay!

How do i submit a nil return on E-filing?

  Written by Alicia   Posted 19 May 2016

You used to help with my tax return before I retired in June 2013. I cannot remember my password, and my e-mail address has changed. Please advise: I did not realise I had to submit a "nil" tax return from 2014 to date - my income has been way below the R105 000 taxable amount per year.

Am I paying PAYE?

  Written by Alicia   Posted 18 May 2016

How would you know if you really paying tax?

How do I claim my travel expenses against my allowance?

  Written by Alicia   Posted 18 May 2016

I'm a commission earner, started on the 1st December 2015. I have been using my car which I bought in July. I had a log book but some of my petrol receipts have faded a bit. When I started working as a commission earner my km where 6780, at the end of Feb they were 16956

I want to claim for travel allowance, should I use the deemed cost or the actual cost.

How to capture EMP501 and IRP5 values

  Written by Alicia   Posted 18 May 2016

When capturing an EMP501 on Easyfile, under Liabilities, do I capture the payroll values exported from my payroll system for payment every month or do I capture the actual payments made to SARS for that month under liability?

Turnover tax, can one claimable expenses prior to the tax calculation?

  Written by Alicia   Posted 18 May 2016

What expenses can be claimed before u calculate the tax payable on company that is registered for Turnover tax?

Tax clearance certificate for emigration

  Written by Alicia   Posted 16 May 2016

I am joining my husband in the UK shortly and want to know if I will need a Tax Clearance certificate from SARS in order to leave the country on a one way ticket through my spousal settlement visa. We have no assets in South Africa and I was under the threshold regarding income tax (tax was paid by my employer and I never submitted a tax tax return). We may be coming back to South Africa at a later stage and do not want to give up residency.

Can you help me calculate the tax on my pension lump sum?

  Written by Alicia   Posted 16 May 2016

I'm getting a pension payment of R230 156 ,08 how much tax can I expect to pay?

Donation or inheritance being the source of the funds

  Written by Evan   Posted 15 May 2016

My daughter died suddenly and she left her annuities to me, her husband, daughter and son (four people), the insurance company made a mess up of the division of the assets and will not change them. Therefore my son in law has to pay over to me the amount of R258 000, to make up my share, as the money was left to us in her estate, is this amount a donation or an inheritance? I feel it is unfair for him to pay tax on this money, when it is not part of his assets, but part of the inheritance recei...

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Sequestration and Business Vehicles

  Written by Nicci   Posted 13 May 2016

If I have been declared insolvent, can I still make claims against the business use of a vehicle if not registered in my name? For example, I make use of a vehicle registered in someone else's name, but I still make the payments as I am the driver of the vehicle for business purposes. Also, what if exemption was granted and I kept my vehicle, will I then still be allowed to claim against the use of my vehicle used for business even if I am sequestrated?

Severence package tax free amount

  Written by Nicci   Posted 13 May 2016

I have received a severance package in the 2012 tax year. Were the tax tables in existence then and would I have gotten the R 500 000 tax free amount already.

Do I get taxed cancelling an Retirement Annuity when living abroad.

  Written by Alicia   Posted 13 May 2016

I have emigrated to the UK and want to cancel my retirement annuity fund because of it. As I now live overseas, will I still be taxed?
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