Difference between income tax number and PAYE reference number?

  Written by Marc   Updated 29 March 2022

Q: What is the difference between Income Tax number and PAYE Reference number?

Change of personal details for my SARS profile

  Written by Evan   Updated 29 March 2022

Q: Can I update my personal profile details with SARS online or do I have to go straight to the branch?

Difference between Vat and Tax numbers

  Written by Nicci   Updated 29 March 2022

Q: What is the difference between a VAT registration number and a tax reference number. When do I use which one? Are they not the same thing?

What is Gross Remuneration?

  Written by Nicci   Updated 28 March 2022

How is 3699 Gross Remuneration arrived at?

I have lost my SARS eFiling password and username.

  Written by Marc   Posted 28 March 2022

Please can you help me by giving me my password and user number, because I lost it and I am already registered with SARS.

How do you calculate leave days when paying out your employees

  Written by Nicci   Posted 22 March 2022

Q: How do we calculate leave days?

Scenario 1: An employee who works 40 hours per week and who has a monthly basic salary of R17933.00 and has carried over 20 leave days of which we would need to pay out.  

Scenario 2: An employee who works 37.5 hours per week not 40 hours who has the same basic salary of R17933.000 and had 20 leave days to be paid, how would you calculate leave days?

 

A: You can calculate leave days as...

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I forgot my tax number, how do I get it urgently

  Written by Marc   Posted 22 March 2022

Q: I forgot my tax number; how do I get it urgently?

A: You can usually find your tax number on you IRP5 or payslip from your employer. If your tax number is not on those documents or if you are self-employed you can also phone SARS on 0800 00 7277 to check or you can request it online by following these steps: 

1. Visit the 

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My IRP5 is incorrect - can I edit it myself on eFiling?

  Written by Nicci   Posted 17 March 2022

SARS code 3601 on my IRP5 is incorrect - my employer is saying I received more than I actually got paid. My salary on my IRP5 (source code 3601) is R100 000, I then got deducted R25 000 PAYE, but when I actually got paid I only received R49 000 into my bank account. There are no other deductions on the IRP5.

Can I modify it myself on SARS e-filing? This was a once-off payment for work done, but it now seems that my employer underpaid the actual salary.

How do I pay tax on my rental income?

  Written by Nicci   Posted 17 March 2022

I own two rental properties from which I earn rental income. This is my only source of income - I do not earn a salary. In the 2021 tax year I let one of the properties' monthly rental pay directly into my long-time girlfriend's account (R7500 per month). The monthly levies, rates and agency fees (deductible expenses) were still paid from my account. At the end of the tax year, my girlfriend paid the lump sum amount (R7500 X 12 plus interest) that had accumulated in her account back to me.
...

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Why was my tax refund reversed by SARS?

  Written by Nicci   Posted 17 March 2022

I have not received my tax refund and it is the 18th of the month. My tax return was submitted on the the 3rd of this month.

Capital Loss on the disposal of my Primary Residence

  Written by Nicci   Posted 17 March 2022

I sold my property, which is my primary residence, for R9 million. The initial purchase price was R7 million and I spent R1 million on improvements - the total base cost was therefore R8 million. If I apply the R2 million exemption, does this put me in a capital loss position?  (i.e R9m less R8m less R2m = -R1m)

If yes, can I use this capital loss to offset capital gains in the same tax year, or carry it forward to the next tax year?

Tax Exemption for Foreign Employment Income : What You Need to Know

  Written by Vee   Posted 17 March 2022

If you think earning an income from a global source isn’t taxable on home soil, I’m afraid I have some bad news. Whether you’re earning Dollars, Euros or Yen, as a South African, it’s more than likely you’ll have to pay tax on this income. This is because South Africa’s taxation system works on a residence-based tax system meaning we’re taxed on worldwide income.

There is, however, some good news!

Section 10 of the Income Tax Act offers a list of conditions where foreign remuneration earned (up to R1,25m) for services rendered outside of South Africa borders will be exempt from income tax.

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Why do I not have a make payment button on my additional ITA34?

  Written by Marc   Posted 16 March 2022

If your ITA34 does not have a Make Payment button, then this means that the particular ITA34 you are looking at has a R0 assessment. Rather log back into eFiling and select the following:

• Returns;
• Returns History;
• Select the year you wish to make payment for;
• Select the second to last ITA34, so the one before the current one you are looking at (often the original assessment); and
• There should be a Make Payment Button on there for you to m...

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How do I upgrade my package with TaxTim?

  Written by Marc   Posted 16 March 2022

In order to upgrade between the LITE, SMART and ULTRA packages please follow these simple steps:

• Click MY RETURNS at the top of your screen when logged into your TaxTim Profile;
• Select the return you wish to upgrade your package for;
• Look on the left hand side of your screen; above Tim’s head you will see the word Sections;
• Click Sections and a drop down will appear; this will allow you to click Add Section;
• Select the sections you ...

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How do I add a section with TaxTim?

  Written by Marc   Posted 16 March 2022

In order to add a section when completing your chat with Tim please follow these simple steps:

• Click the Sections Tab on the left side of your screen, just above Tim’s face;
• Click Add Section; and
• Select the Section you wish to add from the list of suggested tax return sections

You will now be able to go back to your chat with Tim and complete your return for TaxTim to submit to SARS.

Tax on Lump Sum payment - Provident Fund

  Written by Nicci   Posted 16 March 2022

Hi,

A friend received a lump sum payment from her provident fund to pay for a family members medical bills. Is she able to claim back some of the tax paid over to SARS for the additional medical expenses? She had previously received a lump sum payment on retrenchment, so this is the second lump sum recieved from the fund. She has no other income.

Partnership in rental property - how to declare on my tax return?

  Written by Nicci   Posted 16 March 2022

If I own 50% of a property do I only put my portion of the rental income and expenses in?

Do I need to register for VAT if my income is all export related but my turnover exceeds R1m?

  Written by Nicci   Posted 16 March 2022

I am a provisional taxpayer in South Africa working solely for a foreign company (my services are all export related) with my turnover exceeding R1 million a year. I know that exports are zero-rated for VAT. Do I need to register as a VAT vendor, even though my income would not be subject to VAT?

Should source code 3699 reflect on your cost to company?

  Written by Nicci   Posted 16 March 2022

Does source code 3699 include all employment income, so it should it reflect your cost to company?

Do I need to wait for SARS confirmation for provisional tax return?

  Written by Nicci   Posted 16 March 2022

I have successfully filed my provisional tax return for 2022 and would like to know if I need to wait for SARS to approve the amount or do I go ahead and pay the amount stated through the eFiling site?

How do I make changes to my return?

  Written by Marc   Posted 15 March 2022

If you wish to make changes to the information on your TaxTim return then simply follow these easy steps:

• Click MY RETURNS on the top of your TaxTim login page;
• Click the return you wish to make changes to;
• Navigate to the Sections button which is located above Tim’s head in the chat you are having;
• Click Sections and the different parts of the tax return will appear;
• Click the section you wish to make a change to and then you will ...

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Is CGT applicable to Share Option vesting?

  Written by Nicci   Posted 15 March 2022

I've received 1000 share options that vest over 4 years at 25% per year. After the initial vesting on 1 Jan 2022 I have the right to exercise the options, it's likely I will only exercise the options at company exit a few years later. When will I be liable for CGT?

Can I claim against the use of my vehicle if the only code on my IRP5 is 3703?

  Written by Nicci   Posted 15 March 2022

I have used my vehicle for official travel - there is only code 3703 on my IRP5. Can I claim travel expenses in my return?

Money owed to SARS

  Written by Nicci   Posted 15 March 2022

I want to understand why I am owing SARS and how to pay the money to SARS?

What do I do if a question doesn't apply to me?

  Written by Marc   Posted 15 March 2022

Question: What do I click if a TaxTim question isn't relevent or does not apply to me?

Answer: There should be an option to click "doesn't apply", by clicking this it will automatically mark the question as R0 and show SARS that this isn't relevent to you.

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