Fringe Benefits

  Written by Marc   Posted 23 June 2015

Hi
Question: Fringe benefit calculation query on the use of motor car. If a car has a maintenance plan per the definition in the 7th schedule but the plan is an optional extra do you include it in the determined value when calculating the taxable fringe benefit post March 2011?

Prior to March 2011 would you of included an optional maintenance plan in the determined value of a motor car?

REFUND ON PENSION PAYOUT

  Written by Marc   Posted 23 June 2015

Good day I GOT MY PROVIDENT PAYOUT LAST YEAR JULY , GOT ,Y IRP5 FROM THE PENSION FUND WITH AN AMOUNT OF R139686 UNDER CODE 3920 AND 139686 UNDER 3698, I ONLY STARTED WORK NOW AT A NEW COMPANY SO DIDNT PAY TAX ONLY FROM NOW AS I ONLY STARTED AT A NEW COMPANY NOW SO I ONLY HAVE THE ONE IRP5 SO I ONLY USE THE ONE ON eFILING DO YOU THINK I WILL GET A REFUND ?

Reg sole proprietorship with SARS? or add earnings to personal tax.

  Written by Marc   Posted 23 June 2015

I run a very small business (less than R5000 per month) as a sole proprietor in addition working another job. Do I have to register the small business with SARS and do I need to pay taxes each quarter or annually adding both jobs together?

Medical aid waiting period - will SARS pay back payments made?

  Written by Marc   Posted 23 June 2015

I changed medical aid schemes at the end of December 2014 from Sizwe to Discovery. I had a 3 month waiting period where I still had to pay our contributions (my employer too), but I enjoyed no benefits in January and February 2015. Will I get something back from SARS for this?

Tax deduction on resignation lumpsum?

  Written by Marc   Posted 23 June 2015

If your lumpsum for resignation is R152 000. 00. What amount will be deducted for tax.

Help in doing my tax

  Written by Marc   Posted 23 June 2015

I have been struggling with Tax returns and seem to have to pay in many thousands every year - and I need to know why. I would like assistance in completing. Also I already have an online SARS account and the IRP5 etc get auto loaded. Which of your options would be best?

IRP5 from previous employer - do I need to submit a tax return?

  Written by Marc   Posted 23 June 2015

Between January 2014-September 2014 I used to earn R3750 a month at my previous employer, no tax was deducted. At my new place of employment, I earn R8500 per month and tax is deducted. Do I still need to submit a tax return? My old employer told me that there was no need for me to give them my tax reference number even though I was registered with SARS. Do I still qualify for an IRP5 from my previous employer>

How do I find out if I am registered or not without going to sars

  Written by Marc   Posted 23 June 2015

Hi tax tim. I got an irp5 but I am not sure if I am tax registered or not.

First timer currently not registered with SARS

  Written by Marc   Posted 23 June 2015

I am permanently employed for 2 years and prior to that I was temping for the same company for 4 years. My salary is currently R7000 after med aid, tax and pension deductions. Do I need to register for tax and submit a return?

Do I have to pay tax on these earnings?

  Written by Marc   Posted 23 June 2015

I get payed every month R5500. 00 and I made a tax number in 2010, do I need to pay tax?

I earn a gross salary of R13 520 per month do I have to submit IPR5 forms to SARS?

  Written by Marc   Posted 23 June 2015

I earn a gross salary of R13 520 per month do I have to submit IPR5 forms to SARS

Should I register as a taxpayer before hand?

  Written by Marc   Posted 23 June 2015

I am not yet in the tax bracket but will be next year is it better to register before hand?

Must a capital gain be included in the first provisional return for the year when the gain is made?

  Written by Marc   Posted 23 June 2015

My company sold a property in April 2015. The tax year end is February 2016. Would the capital gain on the sale of the property have to be included in the first provisional tax return in August. The company has never actually traded and has no basic amount.

Help me to know if I qualify to pay tax?

  Written by Marc   Posted 23 June 2015

I am permanently employed and receive the basic salary of R2600. 00 p/m excluding overtime. Do I have to pay tax?

If I pay to make use of state hospitals, does this count as medical expenses?

  Written by Marc   Posted 23 June 2015

Hi, I am not on a medical aid, but have paid privately to have some tests done and have also paid a fee at a state hospital according to my earnings. If I have the receipts do these count as deductions?

Tax implications of trading Equity, Bonds, Derivatives, Money Market and Forex.

  Written by Marc   Posted 23 June 2015

What are the Tax implications of trading the following asset classes Equity, Bonds, Derivatives, Money Market and Forex.

Tax eFiling Assistance Required

  Written by Marc   Posted 23 June 2015

I want to file my return for assessment year 2014 and 2015 both. I have IRP5 file available to me provided by my employer. Please let me know how can you help me as I have some other Tax questions as well.

Loan from UK - treatment for tax purposes?

  Written by Marc   Posted 23 June 2015

My brother in law is a UK citizen, and wishes to gift his brother, my husband, a sum equal to R1.2 million rand. My husband is not South African, but a permanent resident here. It is his wish then to pay our mortgage bond here in SA with that money. What are the tax implications if any? The bond is registered in my name only. Do we have to declare the money?

If a company generates less R250k per annum does it file return?

  Written by Marc   Posted 23 June 2015

If a company generates less R250k per annum does it file return?

What constitutes "place of work?"

  Written by Marc   Posted 23 June 2015

Travel Allowance: SARS says that travel between home and place of work is considered private and may not be claimed. What constitutes my "place of work"? I am a pastor. I do not have my own office at the church building where I am employed, but I often travel to the church during the week to see people or attend meetings. Am I allowed to claim those trips to the church building as work km's?

What Gross earnings/profit does the business have to earn before being laible for tax?

  Written by Marc   Posted 23 June 2015

What is the tax threshold for a business? What Gross earnings/profit does the business have to earn before being laible for tax?

Register for a tax reference number?

  Written by Marc   Posted 23 June 2015

How do I get a tax reference number. I am unemployed but applying for a job and they require a tax reference number on my application form?

What tax amount is deducted from a provident fund when retrenched?

  Written by Marc   Posted 23 June 2015

I have been retrenched. How much tax will I pay to withdraw from the provident fund value of R600 000

2 examples of indirect taxes and current rates

  Written by Marc   Posted 23 June 2015

2 examples of indirect Taxes and indicate the current rates of taxation on each?

Value added tax

  Written by Marc   Posted 23 June 2015

Using an example , explain the basic principal of value added Tax?
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