How should I structure my travel allowance?

  Written by Marc   Posted 25 September 2012

I have regesterd a small business and are drawing a salary as an employee. I travel a lot for the business. Should I ad a travel Allowence to my salary or have the business deduct it from it's tax and if I could ad a travel allowance what is the maximum and what can be payed from this allowance, eg petrol, maintenance and car payments.

Should I produce a log book at the end of the tax season or every month.

Which way is the most cost effective

I claim medical aid but medical aid not in my name, am I allowed to do this?

  Written by Marc   Posted 17 September 2012

I pay the monthly medical aid fee but the medical aid is in my spouse's name. I want to claim this as he does not pay tax, is this allowed?

Im having problems with claimig my km im a Rep and travelled about 60 000km

  Written by Marc   Posted 17 September 2012

I seem to be having a problem with claiming mu Km this year as last year I only travelled about 30 000km and apposed to this year I travelled 60 000 and the amount that I seem to be able to get back is less than half of last year?

When is eFiling for provisional taxpayers to be done?

  Written by Marc   Posted 17 September 2012

Hi Tim,
Even with e-filing, do I still have to submit my provisional tax by 31 Aug. I thought it was 28 Nov for e-filing. Please advise. Many thanks

What attachment do I need when submitting to eFiling?

  Written by Marc   Posted 17 September 2012

Do we need to attach something when we do eFiling on line lile irp5 and medical tax certificate?

where can i find the afrikaans version ?

  Written by Marc   Posted 17 September 2012

Where can I find the afrikaans version ?

RENTE BETAALBAAR BY N VOORLOPIGE BELASTING BETALER

  Written by Marc   Posted 17 September 2012

1) Vanaf watter datum hef SARS rente by n voorlopige belasting betaler wat sy indiening per Efiling doen indien hy moet inbetaal ?
2)Tot waneer het n voorlopige belasting betaler tyd om sy opgawe in te dien as hy dit met Efiling doen ?
3)Tot waneer het hy tyd om die aanslag te betaal ?

How do people get so much money back from SARS for ex: R 4000?

  Written by Marc   Posted 17 September 2012

We work for the same company and earn the same salary. He get R 4000 back from SARS and i get R 0????

Do my bond, life insurance, car payments etc have an effect on this?

Is submitting a tax claim compulsory?

  Written by Marc   Posted 17 September 2012

Is there a penalty if i don't submit my IRP5 and medical tax certificate for my tax claim?

TAX DEDUCTABLE?

  Written by Marc   Posted 17 September 2012

I am self-employed, with a irregular monthly income. Am I able to deduct the Rent that I pay for my therapy practice, from my gross income?

Tax deductable?

  Written by Marc   Posted 17 September 2012

Could you please let me know if any of the following are tax deductable:
1. Personal insurance for home and car
2. Membership fees to religious organization
3. Paying my child's university fees
4. Monthly fees for home security and maintenance service

Thanking you.

How much do you have to earn to apply for your tax back?

  Written by Marc   Posted 17 September 2012

I earn approximately R127K per year and was wondering if I can apply for my tax back.

I have submitted incorrect logbook information to SARS, what does that mean?

  Written by Marc   Posted 17 September 2012

I did not keep a detailed logbook for the year and made one up from memory when submitting my tax return. I have now been selected for an audit and fear that my supporting documents and logbook wont correspond. What do I do?

Passive income of spouses married in community of property?

  Written by Marc   Posted 17 September 2012

I understand that when one spouse recieves interest or dividends, that it is deemed to have acrrued equally between the spouses married in community of property. When completing the tax return and answering the questions that TaxTim asks you, do you fill in 50% of the interest or dividend that you earn as the other 50% will be taxed in the hands of the spouse, or do you fill in 100% of the interest or dividends?

I completed the tax form, how long will it take for any feedback or money to paid out to me?

  Written by Marc   Posted 17 September 2012

How long will it take to get money back?

What is a tax threshhold?

  Written by Marc   Posted 17 September 2012

Tax free R11,440, then 18% tax up to R160,000pa / Tax threshhold = R63556 - what is this tax threshhold?

Can I claim travel expenses if I haven't kept a logbook?

  Written by Marc   Posted 17 September 2012

I haven't kept a precise logbook for the year, may i still claim travel expenses as a deduction?

Can I complete my wife's tax return?

  Written by Marc   Posted 17 September 2012

I would like to join for the purposes of completing my wife's tax which carries a travel allowance? Will you do that if I should join on her behalf?

On my IT34 it reflects a minus amount??? Does this mean I owe SARS money?

  Written by Marc   Posted 17 September 2012

What does it mean if on my IT34 a minus amount is reflected and then there is also a "dispute" icon that you can select , what does that mean ?

Chronic medication not cover by medical aids

  Written by Marc   Posted 16 September 2012

I am receiving chronic medication that is not covered by any medical aid since they not on the list for chronic medicine. The cost for this medicine is R13 000(thirteen thousand rand) per month which work out to R156000 per year. I earn R405850 per year and was wondering how much of this would I be able to claim?.

How do you sign the return declaration field in eFiling?

  Written by Marc   Posted 16 September 2012

Before I'm able to file my return to SARS does the declaration field
requires signing?

If married in community of property, should the passive income be divided between the spouses?

  Written by Marc   Posted 16 September 2012

If married in community of property, should the passive income be divided between the spouses or will taxtim do it automatically?

Tax Number

  Written by Marc   Posted 16 September 2012

How long does it take to get my tax number after application?

Why do I need to submit an Income Tax Return if my employer pays my Tax?

  Written by Marc   Posted 6 September 2012

A question often asked is, "If my boss pays over my tax then why do I have to do anything?"

If you earn below R160 000 per year, SARS does not require that you complete and submit an ITR12 tax return. HOWEVER SARS will charge you an admin penalty for not submitting a return AND if you don't mention all your deductions you can't maximise your potential refund. So rather submit a return every year and stay tax compliant. With TaxTim it's easy. Remember as well that SARS doesn't know everything about you so you need to tell them to maximise your potential refund! ...

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What to do if your second ITA34 assessment says you now owe SARS money

  Written by Marc   Posted 6 September 2012

If you have ever survived a SARS audit, you may have been issued with a "revised assessment" or second ITA34 that doesn't make much sense. It probably says that you now owe SARS some money, despite being due a refund. Don't be alarmed though, if you read lower down the new ITA34 you will find that in fact you are still due a refund, only it is probably smaller than before.

For example:

First IT34A (before audit):
SARS says: "Your assessment has been concluded and reflects an amount refundable to you of R-16 636.10"...

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