Written by Marc
Posted 17 September 2012
Written by Marc
Posted 17 September 2012
Written by Marc
Posted 17 September 2012
Written by Marc
Posted 17 September 2012
Written by Marc
Posted 17 September 2012
Written by Marc
Posted 17 September 2012
Written by Marc
Posted 17 September 2012
Written by Marc
Posted 17 September 2012
Written by Marc
Posted 16 September 2012
Written by Marc
Posted 16 September 2012
Written by Marc
Posted 16 September 2012
Written by Marc
Posted 16 September 2012
Written by Marc
Posted 16 September 2012
Written by Marc
Posted 16 September 2012
Written by Marc
Posted 16 September 2012
I have taken over a business from my parents. It's a little recycling business. I am unable to contact them to ask them but the business is now registered in my name and after a friend asked me if I paid tax recently i started to worry because I really know so little about it. At the moment my income per month is about 80k but my expenses are so high I earn 4 to 7 k a mouth plus out of that comes my personal rent and living expenses...so very little at the end of the day...my bank account has an amount of - 4k in....please take my worries away? should i be stressing? ...
Written by Marc
Posted 16 September 2012
Written by Marc
Posted 6 September 2012
A question often asked is, "If my boss pays over my tax then why do I have to do anything?"
If you earn below R160 000 per year, SARS does not require that you complete and submit an ITR12 tax return. HOWEVER SARS will charge you an admin penalty for not submitting a return AND if you don't mention all your deductions you can't maximise your potential refund. So rather submit a return every year and stay tax compliant. With TaxTim it's easy. Remember as well that SARS doesn't know everything about you so you need to tell them to maximise your potential refund!
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Written by Marc
Posted 6 September 2012
If you have ever survived a SARS audit, you may have been issued with a "revised assessment" or second ITA34 that doesn't make much sense. It probably says that you now owe SARS some money, despite being due a refund. Don't be alarmed though, if you read lower down the new ITA34 you will find that in fact you are still due a refund, only it is probably smaller than before.
For example:
First IT34A (before audit):
SARS says: "Your assessment has been concluded and reflects an amount refundable to you of R-16 636.10"...
Written by Marc
Posted 3 September 2012
Written by Marc
Posted 25 August 2012
I submitted my returns on efiling about 3 weeks ago. When I called for a follow up, I was advised my address is "unknown" on the system and that I'll have to go to the SARS branch with my bank statement, certified ID copy and proof of residence. I did than on Monday and when I called again on Thursday, I was told to go to the branch again to update my details as the system still said my address is "unknown". I advised the lady that I was there on Monday and she didn't sound too sure but said my details should be updated after 41 days and only then will I receive my payout....
Written by Marc
Posted 23 August 2012
Written by Marc
Posted 20 August 2012
Written by Marc
Posted 20 August 2012
Written by Marc
Posted 20 August 2012
Written by Marc
Posted 20 August 2012