Submission of late Provisional Tax returns

  Written by Nicci   Posted 5 April 2016

I received rental income in 2016 tax year, but didn't pay provisional tax. On my ITA34 I am not registered for Provisional tax, but on my SOA, requested one day later, it states that I am registered for Provisional Tax. What are my options now in order to pay the minimal penalties/interest? Do I rather not submit the late IPR6 tax returns and only specify the rental income when I submit my next Income Tax Return?
Also, how does the fact that I am married in community of property influence ...

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SARS mistake or are refunds done per assessment

  Written by Nicci   Posted 5 April 2016

I was audited and asked to submit supporting docs for logbooks, vehicle ownership/invoices and medical expenses. My assessment was calculated at R49k refund initially. When submitting medical exp I realized I had entered some expenses incorrectly so made changes to the ITR12. This resulted in a refund of R58k. In the new assessment SARS deducted the R49k under source code 4102 in the line "Previous Assessment Results", with net refund of R9k. Will my refund be both assessments ie R59k or are the...

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tax amount payable

  Written by Alicia   Posted 5 April 2016

I am student currently doing my practicals,i am earning R6000 a month. They have deducted R1781. 25 from my salary. I want to know if is this the right amount that I need to pay?

What is the PAYE on my salary?

  Written by Nicci   Posted 4 April 2016

Tax payer is turning 65 during 2017 tax year end. Employer pays 3% provident fund and employee pays 6% per month. Employer pays 50% of medical aid, employee pays 50%. Cash component is R35,500, provident is R2,136, paid and R1,068 by employer. Medical aid is R3,918 each way. Need to know what tax to be paid per month?

Can I claim from a pension fund that was taxed?

  Written by Nicci   Posted 4 April 2016

I have resigned in 2015 February - am l entitled to claim tax refund on my pension money that was taxed?

Net pay determination

  Written by Alicia   Posted 4 April 2016

If I have a R3000 petrol allowance added to my salary, will the provident fund contribution be deducted as well, e. G. If on 10% contribution, then the net income before tax will be R2700?

How much does an R8000 monthly earner have to be taxed?

  Written by Alicia   Posted 4 April 2016

Morning, in March I was taxed R1600 according to my payslip. I still do not understand why I was taxed so much. I earn R8000 a month & I get paid on the 25th of everything.

Does one pay tax for casual work and if not registered

  Written by Alicia   Posted 4 April 2016

If a person works in a construction company and earns 450.00 per day sometimes full week sometimes short days unpaid and not registered how does he pay tax

Income Protection Policy deduction

  Written by Nicci   Posted 4 April 2016

I have a 'Life cover' policy with Old Mutual that pays out the same value as the assurance value under 'Earning ability cover' section of the policy. Can I claim this as income protection from SARS? Old Mutual has not issued me with a tax certificate for this policy. Many thanks

Please clarify if I can get a tax directive and how they work

  Written by Nicci   Posted 4 April 2016

My estimated gross income R670 114. 00
My estimated expenditure R306 081. 00
Estimated taxable income R364 033. 00
Please show me the calculations to get a tax directive of 20%

PAYE on show on payslip, do I still register?

  Written by Nicci   Posted 4 April 2016

My Payslip shows PAYE with amount of tax deducted - do I still need to register to get a tax number.

Section 10(1)o - successive tax years and overlapping 12 month periods

  Written by Nicci   Posted 4 April 2016

Hi Tim,

When working successive years out of SA on a rotation basis (regular travel to and from SA) am I able to overlap my 12 month periods I use when calculating the days worked out of SA?

Section 10(1)o makes mention of the 183 and 60 day periods being part of any 12 month period which may start or end in the financial year in question. There is no mention of not using periods 'twice' ie If I do a 60 day period out of SA in June and July 2015 I could use this sti...

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Do I need to keep a logbook?

  Written by Nicci   Posted 31 March 2016

My monthly salary is split up into salary and travel allowance. Therefore my PAYE is calculated accordingly. The company pays for all my petrol, whether business or private. Do I still keep a logbook and can I still submit a claim?

Why aren't I getting tax rebates on all my work expenses?

  Written by Nicci   Posted 31 March 2016

I contract for a UK based company and and paid in Rands each month - a salary, and all my expenses. Currently I pay a tax person in SA to do my tax (I am paid in full and then it's my responsibility to sort my tax out), however I haven't received any rebates from SARS for 3 years despite all my expenses, including travel, office rental, parking (all business related). Wondering if you can help? Would TaxTim be able to deal with my provisional tax?

What is Employee's Tax (PAYE)?

  Written by Nicci   Posted 31 March 2016

What is PAYE?

Tax Directive CCMA settlement

  Written by Nicci   Posted 31 March 2016

Hi there, I recently won a case of unfair dismissal and the commissioner stated I would be taxed at my regular income rate. I have been taxed at 41%! Is this normal?
Second question - I need someone to do my tax. And it's in a mess. Do you do this?

Business mileage when working from home

  Written by Nicci   Posted 31 March 2016

I am employed as a service engineer, receive a travel allowance and own my own vehicle. Our company is embarking on a work from home initiative where we will no longer have to come to the company offices every day before going out to see clients and repair equipment. In this new scenario where my administrative work would take place at home and I drive directly to my first client, then to the next etc before eturning home, what would be counted as business mileage and what as private?

Do I need to file tax returns?

  Written by Nicci   Posted 31 March 2016

Hi Tim, I have been living permanently in the UK since July 2002 so have been a non-resident since then. I did work in SA for - 2 years prior to that and my employer paid tax. I have never filed a tax return in SA. Should I be doing anything?

Wear and Tear claim for home office equipment for sole proprietor

  Written by Nicci   Posted 31 March 2016

Can a sole proprietor claim wear and tear on home office furniture, equipment, computers? What is the allowance?

Please explain provisional tax

  Written by Nicci   Posted 31 March 2016

I know that I have to pay personal tax 3 times a year but I don't understand for when I am paying or being calculated for.

How best to "structure" freelance income?

  Written by Nicci   Posted 30 March 2016

I work full time, earning a salary and paying PAYE tax. Through the year I have some projects that enable me to generate some extra income. However, if I just do this as an individual, I incur additional income tax at my marginal rate. Is there a way to structure "freelance" work and projects (in something like a company?) so that I can pay less income tax whilst still abiding the law?

Do students in a learnership pay tax?

  Written by Nicci   Posted 30 March 2016

I'm in a learnership. I get paid R3,120 plus R1,500 accommodation. The total is R4,620 per month. Do I pay tax?

How do I gain access to company's Efiling profile?

  Written by Nicci   Posted 30 March 2016

I am the director of a company, whose tax was done by a tax practitioner, with the company on their SARS eFiling profile, I did not have shared access. The company's tax has since been transferred to a new tax practitioner for various reasons. The initial practitioner has indicated that he has transferred the profile, but has in fact not, and is refusing to assist me further. Could you advise on how I can gain access to the companies Efiling profile?

Provident fund taxable fringe benefit

  Written by Nicci   Posted 30 March 2016

When I captured the details of the monthly salary expense it calculated the following:
Gross salary: R16 772. 83
Included in gross salary is R1 500 provident fund contribution by the employer. Net salary calculated was R13 500. The provident fund contribution is a taxable fringe benefit from 1 March 2016, however, where was it taxed?

Do I need to transfer service contracts from personal account to my company?

  Written by Nicci   Posted 30 March 2016

I recently registered a business. I however still run an online ecommerce site where the proceeds go to my personal account by way of EFTs, Cash, SnapScan and PayFast. I also pay vendors from my personal account. Can the net profit simply be transferred to the business account for tax purposes or do I need to re-register all of the above services with the company details. The ultimate goal is of course to avoid having a large income tax from both a salary and this 'sideline' ecommerce store.
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