Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
I have had 3 seperate employers for the last tax year, and I have never submitted a tax return before, so I am in desperate need of help. I have been with my current employer since January this year and they issued me my IRP5. How do I include the other 2 employers in my return considering they constitute most of my income in the last tax year?
I tried submitting my return via efiling but they required additional documentation. And also, when I logged on again, my submission form automatically had information of my previous employers without me ever filling anything out.
...
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Last year my mother who is 62, and has retired on medical grounds, had to have open heart surgery which i had to pay for. Unfortunately she is not on my medical aid and i had to solely foot the bill of her surgery and all the other medication that she needed thereafter. Do i need to fill this in as part of my medical expenses when filling tax return for the year ended Feb 2012 as these are medical expenses that i incurred and i am the one who paid for this. I do have all the invoices of the expe...
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 30 July 2012
Written by Marc
Posted 26 July 2012
Written by Marc
Posted 26 July 2012
Written by Marc
Posted 26 July 2012
Written by Marc
Posted 26 July 2012
Written by Marc
Posted 23 July 2012
Written by Marc
Posted 23 July 2012
It would seem that SARS often prioritises younger taxpayers who are still working and receive a constant flow of income. However for many older South African taxpayers over the age of 65 who have retired or are still working, there are actually quite a few benefits to enjoy.
Firstly at 65 the tax threshold above which you would even begin paying tax is higher, at R99 056 per year (in 2012 it was R93 150). What's more, those taxpayers who are older than 75 years of age get an even bigger break at R110 889 per year (in 2012 it was R104 261)...
Written by Marc
Posted 11 July 2012
Salaried employees all over the country are busy filing their tax returns in the hope that perhaps they will be due a refund. For most who earn income from their employer they have already paid their taxes in the form of Pay-As-You-Earn (PAYE), but now what? Although salaried employees are limited, by tax law, as to what they can deduct from their income, there are a few things that can be claimed. Deductions against income reduce ones Taxable Income and thus reduce the amount of tax owing to SARS. The allowable tax deductions are:...
Written by Marc
Posted 28 June 2012
Not only has TaxTim made it quick and easy to complete your income tax return, but he's recently done the same for submitting your tax return too!
Once your ITR12 has been completed by TaxTim, if you use SARS eFiling, it's now as simple as following the step-by-step guide that Tim has put together. Tim takes you through the entire process, from eFiling registration to logging into your profile, setting up a new income tax return, completing it and then submitting it - with helpful screen shots of the actual SARS eFiling system displayed...
Written by Marc
Posted 6 June 2012
Most employees negotiate their salary based on the gross amount (or cost to company) - the whole amount paid by their employer. Since income tax is deducted from this gross amount, in most cases the taxpayer doesn't know how much money actually goes into their bank account each month, after tax.
SARS levies employee's tax monthly and employers must pay that over to SARS every month. This tax is called PAYE (Pay As You Earn). PAYE is calculated based on your taxable income. This is different to your gross income and is calculated as follows:
...
Written by Marc
Posted 16 May 2012
Did you know that it is your duty by law to register with SARS (the
South African Revenue Service) as a taxpayer if you earn above R63 556
per tax year? By registering and completing your tax returns regularly
each year, you will become a tax compliant, proud South African. You
can register for a tax number with SARS in person (at their offices in
all major centres), or send the required documents by post or email.
...
Written by Marc
Posted 23 April 2012
