Dividend Tax

  Written by Marc   Posted 25 February 2016

Is dividend tax deductible from normal tax payable for Micro Business exceeding the R200 000 dividends tax exemption threshold?

What are acceptable write off periods for depreciation?

  Written by Nicci   Posted 25 February 2016

In addition to my previous question, the "Schedule of Write-off Periods Acceptable to SARS" (provided by SARS) - does that apply to Depreciation and/or Wear and Tear?

Can I not decide on a set period for all my assets and write off depreciation and wear and tear at that same rate? Example: @ 25%

Donations tax on member's interest

  Written by Nicci   Posted 25 February 2016

Must I pay donations tax if I donate 49% of my members interest in a CC?

Is interest income taxable?

  Written by Nicci   Posted 25 February 2016



I have a money market account. Is the interest taxable?

Tax on retirement lump sum

  Written by Nicci   Posted 25 February 2016

Why deduct R130,000 36 % on retirement savings that exceed R1,050,000?

Is the cost of a new roof maintenance or capital expenditure

  Written by Marc   Posted 25 February 2016

Can I claim the cost of a new roof and windows that I replaced on a house I rent out.

IRP6: Additional Medical Expense Tax Credit & Taxable Income vs Turnover

  Written by Marc   Posted 25 February 2016

I've got 2 questions for my IRP6 form for tax year ending Feb 2016:

I am: provisional tax payer; and an individual - no dependents. 1. Is my taxable income the same as my turnover if I don't have any other deductions?

2. Is the amount that I enter into the Additional Medical Expense Tax Credit field literally all the medical expenses that I incurred in the period, which were not covered by Medical Aid?

No tax returns since 2010?

  Written by Marc   Posted 25 February 2016

My husband still owes his 2010 tax return to SARS. His employer never furnished him with a IRP5 and also never paid over his tax for that year or supply him with a payslip. Up to today he did not supply him with an IRP5 and I am worrying myself sick about the penalties and stuff. What must he do? Will they keep my husband accountable for that money? Thx this is a great website. Wish I knew about it earlier! Will definitely do my tax return via you.

Is income earned by my minor child from a company taxed in my hands?

  Written by Marc   Posted 25 February 2016

If my children received income from a marketing campaign they were involved in, is the income taxed in my hands? They did photo shoots for company and the company paid them.

The dates to submit irp5 forms for 2015 if not submited last year

  Written by Marc   Posted 25 February 2016

I didn't submit my IRP5 form last year 2015. I need to know when can I submit it this year. Like when is the closing date. And if I don't submit IRP5 forms how will this affect me.

2016/2017 Tax Tables

  Written by Vee   Posted 24 February 2016

Income Tax Tables for the 2017 Tax Year - 1 March 2016 to 28 February 2017
Income Tax Thresholds

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Tax on retrenchment and pension

  Written by Nicci   Posted 24 February 2016

I have worked for a company for 10 years. I have never been retrenched before and my company pension fund is worth around R780K. I have been retrenched due to my division being closed. I have been offered a retrenchment package of R180K cash. How will this R180K be taxed and how will my pension be taxed if I withdraw it or if I move it?

How much of a capital gain should I be including for provisional tax?

  Written by Marc   Posted 24 February 2016

IRP6 2016-02: My income is trading income reflected through an IRP5. This year there is also a capital gain. On e-filing form I have to add the capital gain and fill in the total under "estimated taxable income". But then the full amount is taxed at my marginal income tax rate. How much of a capital gain should I be including in "estimated taxable income" for provisional tax?

UIF Deduction

  Written by Marc   Posted 24 February 2016

Must UIF be deducted from an employee on maternity leave if the company will be paying 75% of her salary?

Can you do dispute on my behalf via eFiling?

  Written by Marc   Posted 24 February 2016

Hi Tim, I am an estate agent and SARS IT34 reflects I should pay them -R20k 2015 Taxyear.. I think I completed the forms incorrectly on e-filing. I now wish to request a dispute. I have all my receipts. Can you help me with it please? Do I need to buy the Ultra package? Please advise urgently as I know I need to get a refund. Regards Julie Bosch

Contribution to ex-wife maintenance for children tax deductible?

  Written by Marc   Posted 24 February 2016

Are contributions to non-working ex-wife's medical aid as part of child maintenance agreement deductible, she is the main member.

Company car versus personal car and travel allowance

  Written by Nicci   Posted 23 February 2016

A client of mine is the sole shareholder and employee of his company. He does a lot of car travel for his work.
What is the most beneficial method in terms of tax:
to buy a car in his own name, or to buy one in the company name and use it for business and personal (will be small personal use)?

Is there donation tax payable on a gift?

  Written by Nicci   Posted 23 February 2016

I am selling local property and want to send my two non resident daughters R100 000 each as a gift. Does donation tax come into the picture?

Tax on resignation from Provident Fund

  Written by Nicci   Posted 23 February 2016

What tax will be due on an amount of R138 500.00 when I resign from a Provident Fund?

Exempt amount of interest

  Written by Nicci   Posted 23 February 2016

What is the Interest exempt amount for year ended Feb 2016.

Taking medical aid tax credits into account in provisional tax calculation

  Written by Nicci   Posted 23 February 2016

Hi there, I need some help completing my second provisional tax return. My employer deducts my medical aid tax credits (for myself and a dependent) each month on my payslip. Therefore, on my payslip each month is my gross earnings less my deductions (of which the medical aid tax credit is subtracted from the monthly PAYE amount due). However, at the bottom of my payslip, where it shows total tax paid to date figures, the amount here is the PAYE amount, BEFORE deducting any medical aid tax credit. My question is now when I submit my provisional tax return, do I enter the medical aid tax credits in the section provided for?...

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Do you pay tax on a negative profit?

  Written by Nicci   Posted 23 February 2016

What percentage of your company profits do you pay to tax, if you didn't make any profit and ended in a negative, do you still pay tax?

Dividend Witholding Tax

  Written by Nicci   Posted 23 February 2016

When you have to pay Dividend Tax can the Company Director handle the DWT and pay the 15% Dividend Tax to SARS or must you use a Regulated Intermediary?

What You Need to Know About Changes to the Tax Clearance System

  Written by Vee   Posted 23 February 2016

Tax compliance makes its way into many aspects of life and business. Perhaps you’re considering applying for a tender, or for a foreign investment allowance to move funds offshore, or even looking to emigrate and leave our shores. These are just a few examples of instances where you may be asked by a third party to provide a Tax Clearance Certificate.

And until now, the course of action to obtain your certificate has been a tedious one.

Upon request, SARS would check its records and verify that the taxpayer had filed all required tax returns, paid all taxes, penalties and interest due, before releasing a Tax Clearance Certificate confirming a good standing...

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What type of tax for self-employed?

  Written by Nicci   Posted 23 February 2016

I am self employed by a british company that pays me directly into my bank account. What tax type do I fall into? I do not earn a large salary.
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