My IT34 assessment is a negative amount, does this mean they owe me money & how long before I get it

  Written by Marc   Posted 2 July 2013

This is only my second tax return so I have no clue if I am doing things properly. Last time I had to pay SARS (I still don't understand why) and as my ITA34 reflects a negative balance I would like to know if I am going to have to fork out again or not?

Surely I should get some medical tax relief for my medical aid contribution?

  Written by Marc   Posted 2 July 2013

I earn around R640k per year. I paid R57 986 in medical contributions for the year and an extra R3406 out of pocket expenses too. I have myself and 4 dependants. It seems that I'm not getting any tax back for my medical expenditure which is really unfair

Do I qualify to do a tax return?

  Written by Marc   Posted 2 July 2013

My monthly in come is R3 866, and I have 6 IRP5 Forms can I fill them all in 1 on ITR12 form, or must I do each one on its own?

Unemployed with Medical Aid RA?

  Written by Marc   Posted 2 July 2013

I am unemployed but pay every month my medical aid have medical expenses not covered by medical aid. Also have a RA. This was all covered by my Provident Fund money.

Should I have proof of out of pocket medical expenses?

  Written by Marc   Posted 2 July 2013

I didn't keep any invoices for my out of pocket medical expenses, can I still claim on them?

New Medical Tax Credit?

  Written by Marc   Posted 2 July 2013

When competing my Tax return form is there anything I need to complete on my tax form to get benefit from my medical aid tax credit or does SARS calculate it themselves. I earn R14 480 gross. My medical aid is R1740. My employee pays R1014 and I pay R726 per month towards my medical aid.

Do life insurance payments fall under income protection for tax deduction purposes?

  Written by Marc   Posted 2 July 2013

I would just like to find out if life insurance payments qualify for the income protection tax benefit for tax return purposes? If not, please confirm if disability cover qualifies?

Thanks

I was on the employer medical aid for 9 months which amounted to R21 384 for the rest of the tax yea

  Written by Marc   Posted 1 July 2013

I was on the employer medical aid for 9 months which amounted to R21 384 for the rest of the tax year I was on my own medical aid and the total became R6780. What do I put on 4040 either amounts or do I only put R6 780. Also will my son's speech therapy be considered a total of R1 725 on 4022? When I calculate the result it shows nothing on 4008. Is this right?

ITR12 for foreign personal service providers possible?

  Written by Marc   Posted 1 July 2013

Hi Tim, I am running a sole proprietorship that is registered in Europe and provides consulting services to South African companies. My client classified my company as a personal service provider and started to withhold 28% tax. I registered as a tax payer (IT77) and created a SARS efiling account for organisations. The efiling account only offers me the option to submit an ITR12 return. The tax calculator assigns the normal personal income tax and not the flat 28% for personal service providers...

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Why is the source code 4008 on my ITR12 income tax return = 0?

  Written by Marc   Posted 1 July 2013

4005 = 19404.00
4474 = 19404.00
4116 = 2760.00
How come my 4008 = 0

I have a problem wth my address and they make a mistake when they filling IRP5 so I want to change i

  Written by Marc   Posted 1 July 2013

I want to change my address on my IRP5.

What does "ring-fencing" mean especially in relation to property claims?

  Written by Marc   Posted 1 July 2013

When earning rental income there is a big section on your tax form to fill out. At the end of this section you specify whether it was a profit or loss (4210 and 4211). For a loss (4211) you get the option of ring-fencing with the text "Should the loss incurred be excluded (ring-fenced) for the calculation of your tax liability?"

What does this option mean? Everything I've read about it is incredibly confusing and full of legal jargon I don't understand. Under what circumstances should...

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Which bank details do I fill into my IRP5/IT3?

  Written by Marc   Posted 1 July 2013

I changed banks last year December, so I am confused on which bank details I must fill in on my IRP5. Do I go with the new bank details, the older bank details, or both? Some help would be appreciated...

I want to find out if we can claim expense from winding up an estate & bond transfer costs from SARS

  Written by Marc   Posted 1 July 2013

My wife passed away last year and the estate has now been wound by Old mutual Trust. The fees that I paid was -R52 000-00. OMT gave me a statement which I was said to keep for tax purposes. Can any cost be recovered from SARS? Our Property was on both our names. The property was transferred to my name and the bond was paid up. Can the transfer cost be recovered from SARS?

Allowable Deductions 2013- Medical Aid Taxable Income?

  Written by Marc   Posted 1 July 2013

I am trying to do the right thing by filing my return, but what I am getting is confusing. My total income is (3601- R555 184;3805- R75 694; 3810- R72 830; 3616- R8 175;3809- R500) = total 712 383.

When I complete my return and do a mock lation it shows I owe R1225,64. My medical aid tax credit (4116) is R9 216 - for 4 people. My question is why am I being levied R 217 093.20 (for R712 383) without any deductions especially for medcial aid contributions? There is rebate of R20 656 de...

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Hi Tim, I get travel reimbursement from my company at R3.24 per km traveled.

  Written by Marc   Posted 1 July 2013

The code on my IRP5 is 3703. Should I claim costs against this?

What does SARS deem to be a disability?

  Written by Marc   Posted 1 July 2013

Hi TaxTim,

My Partner suffers from epilepsy. He was diagnosed in 2010. In 2011 He was put on temporary Disability by his psychiatrist. In 2012 he returned to work.

I have read up on the SARS guidelines as to what defines a disability and would like to make sure if I answer yes to the question regarding disabilities of Spouse or Children.

Does my wife have to submit a return if we receive rental income?

  Written by Marc   Posted 1 July 2013

My wife earns under the threshold even with the rental income, the property is in both our names
Does she have to submit a return or can I alone submit it on my return?
We are married in COP.

Where on my tax return form would I see how much is due to me?

  Written by Marc   Posted 1 July 2013

You cannot see this on your return, only if you push the calculator button. Alternatively you can use the TaxTim refund calculator.

Refund calculator

I'm not sure if I or my accountant did a return last year how can I rectify and/or how can I check?

  Written by Marc   Posted 1 July 2013

My accountant emigrated end of last year.

How to claim for km used and for own private vehicle use for work?

  Written by Marc   Posted 1 July 2013

The new information to create your personal income tax return now only give you a option "do you want to claim expenditure against the employer provided vehicle.

SARS EFILING - CLICKED FILE RETURN AND NOT SAVE?

  Written by Marc   Posted 1 July 2013

I made some changes and saved my return a few times. but I went in for the last time and made one change and clicked file return and not save first. Will they take into account the changes?

I didn't get my IRP5 and it wasnt loaded onto SARS

  Written by Marc   Posted 1 July 2013

I just want to find out, my previous employer hasn't sent me my IRP5, and also the accountant doesn't return a response either about it. How can I get my IRP5?

Where do the medical aid tax credits reflect on calculation of results?

  Written by Marc   Posted 1 July 2013

I have just filed my return and horrified to see I must pay in - the first time ever. Noticed on calculation of results under deduction the there is 0 reflected for allowable medical deductions. Then where are the medical tax credits reflected if at all?

I have not kept a logbook but I can almost accurately estimate total business travel, what can I do?

  Written by Marc   Posted 1 July 2013

Travel allowance can you help with retrospective reconstruction of log book and how much is the service?
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