Medical plan contribution?

  Written by Marc   Posted 19 November 2014

I make a medical plan contribution of R850.00 each month. this amount includes the employers' contribution. The contributions are kept in a separate bank account and not controlled/managed by organisations like Discovery Life etc, therefore I cannot provide a tax certificate for this medical plan. What should I do in this case?

need to no how my payslip work.

  Written by Marc   Posted 19 November 2014

hello I just need to know is my taxable earnings money that belongs to me or not thank you.

Maximum amount under code 3703

  Written by Marc   Posted 19 November 2014

My company reimbursed me an amount of over R50k on code 3703 (non-taxable reimbursement) for fuel used during the tax year. SARS then moved the full amount to code 3702 (taxable reimbursement) saying that this amount exceeded the max allowable for code 3703 which is R25920 (8000km x R 3.24). They now want me to pay more than R15k in additional taxes. They asked me now to provide an amended IRP5 showing not more that R25920 under code 3702 which I have requested from my employer. Is there anythi...

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Should I submit a manual tax return if my SARS eFiling registration is still pending by the 21 Nov?

  Written by Marc   Posted 19 November 2014

I had a problem with my SARS eFiling registration and had to re-register for eFiling. It is now a pending registration and the due date for submitting SARS e-filing tax returns is 21 Nov 2014. The due date for the manual tax returns has passed. What do I do from my side before the due date? Should I submit a manual tax return should the eFiling registration still be pending by the 21 Nov 2014?

Extension from SARS for Tax Return?

  Written by Marc   Posted 19 November 2014

can you get an extension on your individual tax return

Do I declare and pay tax on interest received from my RAF capital?

  Written by Marc   Posted 19 November 2014

According to your answer on a previous response on road accident fund payout, the funds received does not have to be declared and is non taxable.

What about the interest received on the funds? The interest earned are my only source of income do I have to declare the interest received and pay tax on it?

I only earned interest R342K pa what will my tax liability be?

  Written by Marc   Posted 19 November 2014

I only earned interest R342K pa what will my tax liability be?

Why do I not get more back from SARS?

  Written by Marc   Posted 18 November 2014

What does it mean if for the last 3 years I've gotten R0.00, -R0.26 and -R0.33 as a refund?
Most of the people I've spoken to say that I should be getting something substantial back from SARS.

How to do the tax calculation upon resignation?

  Written by Marc   Posted 18 November 2014

I'm resigning from the department of education. I received benefit calculation from GEPF = R1 285 837 what will my tax be ?
thanx

How much tax do I pay on a gross salary of R75 000?

  Written by Marc   Posted 18 November 2014

I want to know how much tax I should pay on a gross salary of 75 000 ZAR per month? I checked the SARS calculation table and I do not understand how to do it. The maximum salary they have down is R63,763.00.
There is a note that says:" If the table is inadequate: Add R18,256 (under 65), R17,663 or R17,466 (over 75) to the result of [40% X (actual annual remuneration less R63,713]. Apply rounding to the end result by disregarding the cents."

Trade my car in and receveid the difference of settlement amount. Must it be declared under what

  Written by Marc   Posted 18 November 2014

I bought a new car for private use only. The old car was trade in. The new car was bought on credit without a deposit and the garage paid out the difference between settlement of the old car. Must I declare that money and under what must it b declare.

Tax on shares for capital purposes?

  Written by Marc   Posted 18 November 2014

If one has a share account with a stockbroker and had made share sales in the year, how does one include this on their tax return? Do you log each stock capital gain separately or do you log a single number for all your different shares together?

I do have code 4018 but im prompt that I DO NOT have it, what now?????

  Written by Marc   Posted 18 November 2014

Please make the below changes before continuing:

You can't enter income protection as a deduction if your IRP5 deductions list doesn't contain source code 4018

MY IRP5 DOES CONTAIN 4018 WHAT NOW???

Want to declare my expenses like medical and get my refund

  Written by Marc   Posted 18 November 2014

Want to declare my expenses like medical and get my refund?

Audit - what does it mean?

  Written by Marc   Posted 18 November 2014

I have submitted my tax return on eFiling and I was selected for an audit, now I see there's a notice stating statement of account tax assessed. Does that mean my audit is completed? If so how long does it take for pay out?

Great website, very informative....

Reistoelaag kodes 3701 & 3702 verskil

  Written by Marc   Posted 18 November 2014

Hallo. Wat is die verskil tussen die reistoelaag kode 3701 & 3702 en wat is die impak daarvan?

Capital Gain Tax for Private Vehicles Used for Business?

  Written by Marc   Posted 18 November 2014

I have a private vehicle which I use for business purposes.
I receive a travel allowance and also claim deductions on my return, based on the business mileage I do on the vehicle.

If I sell this vehicle, would I calculate capital gain/loss on the sale of the asset to input in my tax return?

Query for Tax Tim Website - want to know what documents to bring along to the internet store before.

  Written by Marc   Posted 18 November 2014

What documents do I need when asking tim to complete my SARS tax form? IRP5 and anything else ?

How is the income from my discretionary savings taxed, in retirement, e.g. I invest the discretionar

  Written by Marc   Posted 18 November 2014

I am about to retire at age 60 years, with two main streams of income, i.e. proceeds from Provident Fund and retirement annuities which I plan on putting in a Living Annuity and discretionary(after tax) saving proceeds. I understand the income from the living annuity will be taxed at PAYE rates. How is the income from my discretionary savings taxed, in retirement, e.g. I invest the discretionary savings in unit trusts and take an annual income from that which I place in my Money Market account t...

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If a educational service is rendenderd can I claim depreciation on laptop and other expenses?

  Written by Marc   Posted 18 November 2014

I rendered services to a home schooling business by draw up exam papers for them and receives the money by electronic payment. No tax is deducted by them because I am not on their payroll. Can I deduct depreciation on my computer. Can I claim any other expenses like internet service, printing. Can I claim a home office?

Uncertain as to whether I should be completing a tax return.

  Written by Marc   Posted 18 November 2014

I have been working on contract for various companies during the last tax year March 2013 to December 2013. I only starting working for the Department of Justice on 6th January 2014. I have received a IRP5 form from the Dept and nothing previously but I am registered as a taxpayer. How do I go about completing my return?

Passport information deleted from eFiling ITR12

  Written by Marc   Posted 18 November 2014

I have been registered on eFiling since 2012 and have submitted without problems in the past 2 years. This year my passport information has vanished from my ITR12, but is still correctly captured in my profile details. I cannot manually enter this info (grey fields, don't allow for input). I contacted the SARS call centre and the agent said I must go into a branch and bring passport, certified copy, proof of residence and 3 months bank statements. This seems excessive to me - especially because all my info on the system is correct....

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What is I dont claim the kilometres travelled but I have a travel allowance?

  Written by Marc   Posted 18 November 2014

what if I have travel allowance and I don't claim the kilometres I traveled?

Do you do registration of taxpayer or must taxpayer do that themselves?

  Written by Marc   Posted 18 November 2014

Do you do registration of taxpayer or must taxpayer do that themselves?

Incorrect Submission

  Written by Marc   Posted 18 November 2014

I Submitted my returns through Tax Tim and upon completing, I was advised by SARS that I had a refund of R11,123.67. Unfortunatly, I realised I had submitted incorrect amounts, in my submission. I requested a correction on the SARS website and resubmitted the correct amounts. I am subsequently by informed I now owe SARS R11123.67. Please advise
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