Written by Marc
Posted 23 July 2013
I currently live with my parents, on their property. I am looking at purchasing an apartment for R650 000 and renting it out. I have been given the option of paying for this in cash and then paying my family back at their low bond rate of 6.5% (prime -2%).
The property will be rented out for R5500. The expenses on the property (rates and levys) are R1800. So the rental income would be R3700pm. This R3700 as well as another R4300 will be paid monthly to my parents (total R8000pm).
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Written by Marc
Posted 23 July 2013
Written by Marc
Posted 22 July 2013
Written by Marc
Posted 22 July 2013
Written by Marc
Posted 22 July 2013
Hi Tim, We are two employers that works in a small company, and after one and a half years we found out that our employer did not pay or fill out the necessary documentation for our tax. We would like to sort this out ourselves as soon as possible - where do we start? Will there be any penalties? How can we work out what this will be? We both started working for the company after University. Personally I break even every month after medical aid contributions, student debt, rent etc. My co-worke...
Written by Marc
Posted 22 July 2013
Written by Marc
Posted 22 July 2013
Written by Marc
Posted 22 July 2013
Written by Marc
Posted 22 July 2013
I filed my husbands tax return this year, and received an ITA34, however I was asked to upload supporting documents for audit. I have done this, and then received a letter of completion 3 days later. However, I still have not received an ITSA, and I don't agree with the amount for refund that they come to. On my SARS profile, it says still being assessed.
What does this mean? Has my husbands return been completed, or is it still being assessed? And what is the best way to dispute a re...
Written by Marc
Posted 22 July 2013
I submitted my return a week ago, and I do not have a medical aid, but did keep all my receipts for medical expenses. They asked me to supply the supporting documents which I did, but it was about 30 pages of receipts first I uploaded the 20 pages and then they told me that I cant upload more than 20 at a time, then in order for me to upload the rest of the 10 I made a dispute NOO document and attached a letter explaining the reason and than I uploaded the rest. I am afraid that I have done th...
Written by Marc
Posted 22 July 2013
Written by Marc
Posted 21 July 2013
Written by Marc
Posted 20 July 2013
Written by Marc
Posted 20 July 2013
Written by Marc
Posted 20 July 2013
Written by Marc
Posted 19 July 2013
Written by Marc
Posted 19 July 2013
Written by Marc
Posted 19 July 2013
Hey Tim, awesome site and very helpful info. I am not sure of my tax number, I was out the country for a few years and before that I was self employed and now again I am self employed. I last worked for a company n SA probably 10 years ago.
We have started 3 businesses since we have been in SA (my wife and I) and the first 2 didn't really get going at all and cost much more than they made which wasn't much at all. They were both Close Corporations but we never got to the stage when we got a bookkeeper in to do anything...
Written by Marc
Posted 19 July 2013
Written by Marc
Posted 19 July 2013
Written by Marc
Posted 19 July 2013
I just submitted my tax return. I received my ITA34. I contributed R7192.00 to my medical scheme (Code 4005) and also R1592 for other medical expenses not paid by the medical aid (Code 4020) but on the ITA34 my medical expenses is 0 (Code 4008), thus my deductions allowed is also on 0. So it says I will be getting back -1840.00, but shouldn't it be more because of my medical expenses and medical aid payments? Or do SARS first have to check this and possibly do an audit before they take my total ...
Written by Marc
Posted 19 July 2013
Written by Marc
Posted 19 July 2013
Written by Marc
Posted 18 July 2013
Written by Marc
Posted 18 July 2013
Do Your Tax Return Easily