Can portfolio management fees be included in the base cost part of the CGT calculation?

  Written by Marc   Posted 28 July 2014

CAPITAL GAINS; My broker issued an itc3 showing a capital gain of R955 000 for the last tax year.Else where on the tax report is shown a sum of R120 000 being portfolio management fees. Can I deduct some or all of this fee as part of the base cost in calculating GCT?

Unemployed and being audited

  Written by Marc   Posted 27 July 2014

Hi thereI'm currently unemployed and have been since dec 2012. Ive done my 2014 tax return and of course all amounts are zero, but now they are requesting supporting docs, auditing me. What documents are they looking for as I don't have an income/IRP5 ETC…..

Will a permanent resident qualify for a primary rebate?

  Written by Marc   Posted 27 July 2014

Will a permanent resident be eligible for primary rebate?

SARS registration

  Written by Marc   Posted 27 July 2014

Am I registered for SARS?

Tax refund from SARS?

  Written by Marc   Posted 26 July 2014

If I buy a property worth R400 000 cash, can I claim tax refund when I submit my IRP5 and how much will I get back as a refund?

Outstanding tax returns?

  Written by Marc   Posted 26 July 2014

I didn't do some tax returns fore long time what must I do?

Completion letter received but still being audited.

  Written by Marc   Posted 26 July 2014

I was selected for audit this year and asked to submit supporting documents. I sent all documents through on the 2nd of July via eFiling. In the 3rd of July I received a letter of completion stating that the verification had been completed and no changes will be made to my return. It has now been 3 weeks and the refund has still not been paid. When I called the call centre to enquire the status, they said that I am still being audited? I am now confused as the letter stated the completion on the...

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How do you unlock your SARS eFiling profile?

  Written by Marc   Posted 26 July 2014

How do you unlock your SARS eFiling profile?

If I was been taxed from April 2011 can I get that money back

  Written by Marc   Posted 26 July 2014

if I was been taxed from April 2011 To april 2013 can I get that money back. Because addressed this point to our manger and asked why is a stipand getting taxed its not a salary So from this year our payslips are just showing the amount we getting as caregivers

Working for 4 years, never registered, whats required and will there be penalties?

  Written by Marc   Posted 26 July 2014

I have been working since 2011, and have never registered as a taxpayer. What will I need to register and will there be penalties incurred?

tax number please?

  Written by Marc   Posted 25 July 2014

I would like to know how can I get my tax number on line. I'm need of it I forgot my tax number I'm so desperate can you help me?

Refund/no refund or less refund for previous years returns.

  Written by Marc   Posted 25 July 2014

Hi TimThank you very much for the awesome job you are doing.I would like to know;what happens when someone hasn't submitted to SARS for about 5-7yrs? *Incorrect submission or not submitting at all*.Does the person get the refunds of other years when he/she eventually submits or get penalties that leads to no refund at all or less refund? Regards,LMM

Compliments all round for TaxTim

  Written by Marc   Posted 25 July 2014

Hi TaxTim,

I do not have any questions for you, but would like to let you know that you have done a stellar job with informing the public and being relevant and current in your info-sharing. Your accessibility makes you a head above the rest in terms of this kind of service offering.

I have been checking my queries against the queries logged onto your site, and the info has been spot on! As a result, my tax return experience has been pleasant thanks to you.

Keep ...

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How soon can I get my refund after audit completion?

  Written by Marc   Posted 25 July 2014

I received a verification letter from SARS and I called the call centre. They said my audit has been completed and I was told that my refund will take 21 working days and it might be selected for another audit. How true is this statement? Please assist Tim, 21 more days is a long way to go.

How to update details from India?

  Written by Marc   Posted 25 July 2014

Hi
I already paid tax in this assessment(2013-2014) through my employer but I just want to fill my returns. Porblem is that last to last month I went back to India and I did not give my bank details to SARS so can you please advise me how to resolve all those things from India?

can I get sars money

  Written by Marc   Posted 25 July 2014

I received UIF so can I claim SARS money also?

Selected for Verification Twice

  Written by Marc   Posted 25 July 2014

I submitted my return on the 05/07/2014. I was selected for verification, and I uploaded my IRP5 and medical certificate on eFiling. I also went into the branch to validate my banking details and proof of address. I received a letter of completion on the 22/07/2014, and then a letter for change of banking details on the 23/04/2014. I phoned the contact centre and told them that I had already been into a branch to validate my banking details, and they told me to update my banking details on eFiling, which I did. ...

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CGT Calculation for non resident?

  Written by Marc   Posted 25 July 2014

CGT
I inherited shares in a 3 private companies at a total value of R650,000.00 in 2003.
I intend selling all the shares at a total price of R2,500,000.00.
I would thus make a capital profit of R1,850,000.00
I am a non resident of South Africa and a citizen of and tax resident of Australia.
I pay taxes in South Africa on dividend and interest at a tax rate of 18%.
What would my CGT liability be.

Can I claim back petrol, whist been paid a monthly travel allowance?

  Written by Marc   Posted 24 July 2014

I receive a Travel allowance of R2000.00pm. on top of my salary.
My question is can I still claim for petrol back on my travels?
My reason is that my understanding of a travel allowance is as follows

Travel allowance - is any allowance paid or advance granted by the employer to the employee for the use of his or her private motor vehicle for the employer?%u20AC%u2122s business purposes.

After how long can I appeal an ITA34?

  Written by Marc   Posted 24 July 2014

In doing my current years efiling (2014), I detected an error on my 2012 ITA34. Can I still appeal this ITA34 or is it too late?

Tax directive - what`s that?

  Written by Marc   Posted 24 July 2014

What is a tax directive?

How to obtain 2013 SARS assessment from E-filing

  Written by Marc   Posted 24 July 2014

I submitted my tax return via SARS eFiling. I now want to retrieve my 2013 report, how do I do this?

Is the red minus due to or due by?

  Written by Marc   Posted 24 July 2014

I have done my return and I have a total with a minus sign in red is it due to me or by me?

Need my income tax number?

  Written by Marc   Posted 24 July 2014

I forgot my tax number

Tax responsibilities following resignation?

  Written by Marc   Posted 23 July 2014

I would like to find out how my SARS tax returns will work for the 2015 tax year.

I resigned from my employer of 10 years at the end of January 2014 to start my own business from home.

What are the implications and my responsibilities to SARS from this point on? I am technically unemployed with low annual income currently.

My business is home-based. I have no other means of income. My husband is currently employed full time. We are married in community of proper...

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