Does the receiver of a gift pay tax on the money?

  Written by Marc   Posted 26 August 2013

My Dad gave me R60 000 to pay for my studies at a university in the UK. Do I need to pay tax on this gift?

Tax nr

  Written by Marc   Posted 26 August 2013

Good day. Please I need my SARS nr.

Your source code is not on my IRP5

  Written by Marc   Posted 25 August 2013

The source code you ask for is not on my IRP5. I don't have 4003 or 4018.

When must I start paying tax with (Pty) Ltd and should my company be audited, if so when?

  Written by Marc   Posted 25 August 2013

Hi Tim,I've registered a (Pty) Ltd at CIPIC to act as a holding company to launch all my ideas through and operate from its bank account.I am confused however as to at what point I would have to pay tax with this business, i.e after how much income should I pay tax, at what amount?Also if and when my company would need to be audited, since it is a (Pty) Ltd but still pretty small?Thank you

I want to register and do the claim after I get my tax number

  Written by Marc   Posted 24 August 2013

Can I register and do the claim after I get the my tax number?

Are Directors entitled to also pay PAYE to SARS on their salaries/fees monthly?

  Written by Marc   Posted 24 August 2013

Are Directors entitled to also pay PAYE to SARS on their salaries/fees monthly?

Practitioner can't submit or search for ITR12 on efiling

  Written by Marc   Posted 24 August 2013

Hi, I registered as a tax practitioner on the SARS efiling website but now I can't access my clients, like I cant get into their files. I am stuck.

I am unable to pay with my cheque account: "Bank not supported"

  Written by Marc   Posted 23 August 2013

Why can't my cheque account pay for Tax Tim?

Can l get a tax clearance certificate if l do not have a tax reference number?

  Written by Marc   Posted 23 August 2013

I need a tax clearance certificate but l do not have a tax reference number. The form says I should have a tax reference number, can I still get a tax clearance certificate?

Does the system handle lump sums and capital gains?

  Written by Marc   Posted 23 August 2013

Does the system handle lump sums and capital gains?

Do I owe SARS?

  Written by Marc   Posted 23 August 2013

I did my efiling on Tuesday and I have received an SMS saying

"thank you for submitting your irp5. account balance is R8886 due by you."

Do I owe SARS or does SARS owe me? Pls help!

Can a non-resident South African citizen take out inheritance from SA?

  Written by Marc   Posted 23 August 2013

I've lived out of SA for 22 years and have held dual nationality (SA and UK) for the last 12 years. I rarely visit SA and have not spent more than 3 weeks there in any of the last 20 years. My question is about inheritance. If I inherit in SA, will I be allowed to take my inheritance out of SA? I have never formally emigrated, still hold a SA passport in addition to my UK one and have no assets in SA. Would it make things easier if I renounced my SA citizenship?

Medical Tax Credit (MTC) and the ITR12

  Written by Marc   Posted 23 August 2013

I pay my own medical aid and the total amount paid was R15626. When entering it on my ITR12 it shows me a NULL allowable medical deduction under a code 4008. Am I not supposed to get my MTC of R230 per month? It was not deducted on my IRP 5 so I paid my full PAYE amount.

How to deal with depreciation if moving from sole prop to CC.

  Written by Marc   Posted 23 August 2013

On 1 September 2013 I will cease as a sole proprietor and operate as a CC. How do I deal with depreciation eg a truck depreciated for 8 months with 40 left under the new CC.

First time to SARS

  Written by Marc   Posted 23 August 2013

It is my first time going to SARS and I didn't know if I should have taken my rip5 of the last 2 years and my medical aid documents. I only took the ones for this year so is it possible for me to go back with the previous ones cause I already submitted?

South African Expat working in Dubai

  Written by Marc   Posted 23 August 2013

Hi Tim,

I have been working in Dubai since 1 January 2011 and would like to know do I need to declare my Dubai income on my tax return? I have only been back to South Africa once for 28 days in August 2012. I am working for a local Dubai company, with an open ended contract.

For the last 2 tax years I have submitted my tax return, declaring my South African sourced income, interest and rental income.

Is this the correct way or do I still need to declare my Dubai income and will my Dubai income be taxable?...

Read more →

SARS eFiling username & password

  Written by Marc   Posted 22 August 2013

How do I get my username and password without calling the SARS landline and spending over 30min on the line and still getting nothing?

Provisional tax Period 1 query

  Written by Marc   Posted 22 August 2013

Hi. I am a provisional tax payer for the first time due to earning rental income greater than the threshold. I received (& was taxed on) a bonus from my employer in June this year. How do I treat the bonus payment on the provisional tax return (period 1)?
If I include it as part of taxable income, my tax payable is inflated as bonuses are taxed differently from normal income. Please advise.

Register company for tax

  Written by Marc   Posted 22 August 2013

My employer wants me to register for tax, but she is not registered as a company/employer.
How does this work?
What are the procedures that must be followed.

Thank you.

Do I submit my capital gains from an investment as part of my primary residence if I do not have one

  Written by Marc   Posted 22 August 2013

Do I submit my capital gains from an investment as part of my primary residence if I do not have one? I own no property etc.

Can you claim depreciation as an expense against rental income?

  Written by Marc   Posted 22 August 2013

Can you claim depreciation as an expense against rental income?

What is the tax free amount for interest earnings? I am over 65.

  Written by Marc   Posted 22 August 2013

I am 66 years old - what is the tax free interest earnings amount - 2013/14 tax year. I earn a salary of R104,000 pa.

SARS tax source code 3698

  Written by Marc   Posted 22 August 2013

Please can you explain the source code 3698 - Gross non-funding retirement funding employment income on the SARS tax certificates.

SARS requesting IRP5. Employer can't find IRP5.

  Written by Marc   Posted 22 August 2013

Hi Tim,

I started working in January 2008 but never got given my IRP5 for the tax year ending Feb 2008. Now SARS has asked me for that IRP5. I've contacted my former employer but I'm not sure if they have it. What is the worst case scenario if they (my former employers) can't find it? SARS have said I must bring it before they pay anything out.

Efiling status says "correction filed"

  Written by Marc   Posted 22 August 2013

Hi Tim,
I submitted my tax return. I submitted supporting documents. The status on efiling is - "Correction Filed".
Please can you advise what this means? How will I know when payment will be made to my account - what should the status be?
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