Can I pay tax in advance (est) without complicated forms.Then do forms annually and pay difference

  Written by Marc   Posted 24 March 2014

I always need to pay money to tax at the end of the year. I know it is about R 12,000. Or R1000 pm. Why can I not pay in say R1000 pm Estimate without filling in complicated forms, then fill in complicated forms once a year. I.e. pay in what I think monthly. i.e. accumulate tax credits via payments ahead of the final annual analysis.. i.e. just pay initially when I can afford, and pay in the difference after completing complicated forms at financial year end.

Residents based tax - how does it work in SA?

  Written by Marc   Posted 22 March 2014

Hi Tim. I am currently a South Africa provisional taxpayer but will be leaving SA to work for a US based company for the next 5 years . I will be leaving on the 30 June 2014 but will receive a pension payment commencing 1 July 2014 from my current employer for the next 5 years payable in South Africa . I will also receive a bonus in December 2014.

I will be out of the country for more than the 183 days as well as the 60 day consecutive period . My question is as follows :

1. Is the monthly pension taxable...

Read more →

What sort of tax should I register for as an independent IT contractor?

  Written by Marc   Posted 14 March 2014

I'm an independent IT contractor working from home. I work for different clients at the same time. Some pay a fixed fee.

What sort of tax should I register for taking into consideration that I use my house, electricity, internet, etc?

Can I declare extra income at the end of the year, or must I register for provisional tax now?

  Written by Marc   Posted 10 March 2014

If I did some freelance work in 2013 / 2014 tax year, will I pay a penalty if I only declare my extra income when I do my regular return?

What are the legal consequences for sole proprietor not registered as taxpayer?

  Written by Marc   Posted 8 March 2014

Legal consequence for sole proprietor not registered as taxpayer

CHANGE TO PROVISIONAL TAX PAYER on eFiling?

  Written by Marc   Posted 7 March 2014

I have been a salaried employee bu have now started out on my own. Can I just change to being a Provisional Tax payer on eFiling?

I freelance now and again but have a very low monthly income. Do I need to declare & register?

  Written by Marc   Posted 7 March 2014

I love your business model, very innovative.

I have a full time job and started offering to do freelance web designing for people. I have been told some conflicting information about tax, from being taxed 40% on additional income to additional income not being necessary to declare if its non-recurring.

I have a full time job and don't charge much for creating websites and there is the recurring income of web hosting that I charge clients monthly. I probably create a site once a month for about R2000 and hosting comes to a total of R400 a month (for all the sites I host). So additional monthly income is max around R2400 and that is not every month....

Read more →

Started at new company this year (Online company based in Norway) what tax do I pay?

  Written by Marc   Posted 27 February 2014

Up until December 2013 I worked at Incredible Connection. I earned a basic and commission. They always used the PAY-E (Pay as you earn) to pay my tax.

At my new Company, an online company based in Norway, I get paid a salary and commission together in 1 payment. I submit my commission table at the end of the month and I am paid around the 5th-7th of the following month.
My question is:
1) do I need to use an IRP6 now (Provisional) if my only income is via my salary and commission (although it is from a foreign country)? (I earn less than the 250000 per month) average which I think means I don't need an IRP6...

Read more →

SARS audit

  Written by Marc   Posted 24 February 2014

If I have done my provisional tax on eFiling, how many days does SARS take to do an audit? Or ask supporting docs?
Thank you

Business returns and provisional tax

  Written by Marc   Posted 24 February 2014

Must I make payment immediately on e-filing where it says "make payment" or must I wait for SARS to email me for confirmation amount due?

Can I use the basic amount for this month's IRP6 return ???

  Written by Marc   Posted 24 February 2014

Is it essential to estimate a taxable income on the SARS eFiling IRP6 form, or can I use the basic amount as stated on their form.

This was the taxable income for the 2013 tax year.

By who provisional tax is paid?

  Written by Marc   Posted 23 February 2014

Who pay privisional tax

Provisional Tax and charging Tax?

  Written by Marc   Posted 21 February 2014

If I were to open a small company (sole proprietership) doing plumbing work, would this make me a provisional tax payer even if its my only source of income? Also, on my invoices I would send out to clients for jobs done.. would I charge tax on these invoices?

SARS wants me to submit supporting documents, but the document list is empty

  Written by Marc   Posted 20 February 2014

I think SARS owes me a refund because my ITA34 reflected a negative number and said "refund due to you". Anyway they are now giving me grief, disputing my refund and demanding I respond in 21 days by sending me a "Final Request to Revise Income Tax Return or Submit Relevant Material". However in this document they say: "In the event that you couldn't find an error, you also had the option of submitting to SARS copies of the following material in support of the declarations made in your income tax return:" This is followed by an empty document list. ...

Read more →

Penalties on provisional return payments?

  Written by Marc   Posted 18 February 2014

I assess my income for the year on the 25th February 2014, make a payment to be sure that estimates are going to 90 % correct, on the 27th February 2014 a large amount is paid ... will I attract tax penalties?

CGT Losses carried forward?

  Written by Marc   Posted 17 February 2014

I'm a provisional tax payer over 65.
If I have a CGT loss of say R50,000 do I carry forward the R50,000 or R20,000 (R50,000-R30,000)?

RA contributions - tax benefits?

  Written by Marc   Posted 10 February 2014

I have a sole prop who earns R3m per annum. To reduce his PAYE I have suggested he takes out an RA.
What is the maximum he can contribute for Feb 2014 so as to maximise his tax position.

Avoid annoyance of IRP6 submission?

  Written by Marc   Posted 9 February 2014

I am a pensioner and get a pension that is taxed plus RA payments and receive interest on investments that are below taxable.

How do I avoid filling in a IRP6?

Commercial fisherman - tax situation?

  Written by Marc   Posted 5 February 2014

How would a self-employed commercial fisherman pay tax?

Does TaxTim also help provisional tax payers with IRP6 forms?

  Written by Marc   Posted 31 January 2014

You mention that TaxTim completes an IRP12 form for you, but does it also help provisional tax payers with their IRP6 forms?

When is the due date for ITR12 and ITR14?

  Written by Marc   Posted 30 January 2014

When is the due date for ITR12 and ITR14?

Second provisional tax calculation and supporting documents required?

  Written by Marc   Posted 30 January 2014

How do we calculate second provisional tax and what documents are required?

I am confused when IRP6 and IRT12 forms must be submitted?

  Written by Marc   Posted 29 January 2014

My dad is considered a provisional taxpayer with SARS. I am confused as to when he must submit IRP6 and IRT12 forms?

What date should I use for my Provisional Tax EFT payment as part of my 19-digit reference?

  Written by Marc   Posted 27 January 2014

If I want to pay my provisional tax to SARS. First payment was due 31 August 2013 but I'm only making it now. I want to make this payment via EFT but cannot figure out what date is required in my 19-digit reference. I know the "dd" in "ddmmyyyy" is replaced with "00" but which month and year should I put in "mmyyyy"?

Medical scheme tax credit amount

  Written by Marc   Posted 20 January 2014

I'm completing my IRP6 (second part) as I am a provisonal tax payer. In the space provided for medical scheme fees tax credit (I believe it's R242 for this year) do I fill in R2904 (R242 times 12) for the full year I've been paying towards medical aid. Or do I only have the one credit of R242 for the entire year?
Older posts →← Newer posts