Why Register for an Income Tax Number

  Written by Nicci   Posted 20 March 2017

I earn R6000.00 a month. My employer told me that everybody has to register and have a tax number, regardless if you earn under the threshold and don't pay tax. What's the reason that we all have to register for an income tax number, is this correct?

Children receiving gift money

  Written by Nicci   Posted 20 March 2017

My brothers wish to gift my children money. Which I will be using on daily expenses and school fees. Will I be liable for tax for these incomes? Or will my brothers be liable for this? Is there a taxable limit? And are there any tax avoiding measures for single moms?

Claiming at SARS

  Written by Nicci   Posted 20 March 2017

My mom was working as a teacher at ABET school. May I go to SARS and claim her tax money?

Money gifted from an International Source

  Written by Nicci   Posted 20 March 2017

Can my mother, who lives in the UK, send my husband and I money, into his South African bank account- will we have to pay any tax on it in SA? It's one deposit of approximately 100,000.00 GB Pounds. And, the money is 100% UK bound income.

Forgot to Submit my Taxes for Previous Years

  Written by Nicci   Posted 20 March 2017

How do I sort out outstanding tax returns not submitted during previous years?

Medical expenses claimable without belonging to medical aid

  Written by Nicci   Posted 20 March 2017

SARS refuses to deduct my medical expenses (medical doctor prescriptions and formal medical procedures), if I didn't belong to any medical aid scheme. Just to add onto that, I paid all my medical costs myself.

Penalty Fees

  Written by Nicci   Posted 17 March 2017

I've recently had the misfortune of getting a tax penalty of over R16500.00 It was deducted from my provident fund without my knowledge. A further R7000.00 was deducted from the same provident fund pay out. Please advise me if I can dispute this after it has been deducted; if not I'm fine with it. However, I got a statement from SARS more than two weeks later referring to these penalties. I'm not sure what this statement means.

Tax for a Contractor working from home

  Written by Nicci   Posted 17 March 2017

We have a contractor that's working from home. He primarily does work for our company. How does tax work, do we need to submit an IRP5? We've been paying him directly without deducting any PAYE or TAX

Living in Namibia, but working for a company in SA.

  Written by Nicci   Posted 17 March 2017

I live in Namibia, but work for a South African company.
I'm a South African citizen. Under the new changes brought in with the budget, how will my tax work? I'm still working for the same company (I have been working for 7 years in total).

What does ITS mean?

  Written by Nicci   Posted 16 March 2017

What does an "Outstanding ITS Return" mean?

Foreign Income

  Written by Nicci   Posted 16 March 2017

I'm currently staying in South Africa. I receive income from foreigners, for hunting trips outside of SA borders. I'm usually out of the country for a week or two at a time. Is this income I'm earning taxable in SA?

Provident Fund Payout

  Written by Nicci   Posted 16 March 2017

I cashed out my Provident Fund when I left my previous employer, I was there for just under 2 years. I paid a higher tax as the first R25000.00 subject to the tax rule of: 18% of lump sum exceeding R25000.00
The financial services company explained that because several years ago I cashed out a portion of my provident fund historically, I don't qualify for the tax exclusion. Is this correct?

How to get a Tax Clearance Certificate

  Written by Nicci   Posted 16 March 2017

How do I get a tax clearance certificate for an individual?

Paying Tax: Age and Income Differences.

  Written by Nicci   Posted 15 March 2017

Does a 78 year old person who earns less than R100 000.00 per annum pay tax and how much.

Do I get Tax back on a loss from selling shares?

  Written by Nicci   Posted 15 March 2017

I bought shares in a private company (cost me 100k). We have now sold the company in full and my portion of the payout is 80k (i. e. 20k loss). Can I claim tax back on this amount? And if so, what do I need to do it?

Retirement Annuity Premiums

  Written by Nicci   Posted 14 March 2017

What happens if I haven't submitted a tax return?

  Written by Nicci   Posted 13 March 2017

Since voluntary sequestration and rehabilitation about 10 years ago I have not submitted a tax return, what will the effects be of this?

Unpacking the Budget Speech: proposed changes to foreign employment

  Written by Nicci   Posted 10 March 2017

Since the announcement of the 2017/2018 budget, TaxTim has been asked many times about the changes to the foreign employment income exemptions rules which could have a very negative effect on taxpayers working overseas.

Currently, if a South African resident works for a foreign employer and is out of the country for 183 days or more, within a 12 month period, and they fulfil various other conditions, their foreign employment income may be exempt from South African Income tax. Please ...

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A notice of objection

  Written by Nicci   Posted 10 March 2017

SARS didn't accept my log books, my 2015 tax return, there's zero KMs for business use.
I now need to object and they require proof of ownership- I have documents from Wesbank. Lastly, can I do this via TaxTim or must I go into SARS?

Do stay at home moms need a tax number?

  Written by Alicia   Posted 7 March 2017

Hi I'm a stay at home mom with no income. I live in South Africa. Someone said I should get a tax number. Do I need a tax number? Will it be necessary in my future in case I divorce or am widowed or a senior? Shall I pursue it? How would it benefit me?

Penalty FAQs

  Written by Nicci   Posted 6 March 2017

What is a recurring penalty? OR What are recurring SARS penalties? OR What does it mean to receive a penalty?
This is a penalty for non-submission of your returns in previous years. You need to see which returns you have not submitted and submit them ASAP. You also need to make payment to SARS for this penalty, but you would have to call them on 0800 00 7277 or log onto SARS eFiling to get a current statement of account and know exactly what they want from you.

Rental Income FAQs

  Written by Nicci   Posted 6 March 2017

Should interest on your home loan be deducted from your rental income?

Yes, it does, the interest would go under the finance costs, the actual bond repayments are not deductible for tax purposes.

Should my rent which is paid by my boss, reflect on my payslip?
Yes, this would be fully taxable at the same rate as your salary. It can reflect as 'other allowances - taxable" and can reflect under source code 3713 on your IRP5.

Is there a VAT payment on maintenance expenses for my car? ...

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Contract Workers FAQs

  Written by Nicci   Posted 6 March 2017

Contracting Benefits vs Salary?
You will still be able to claim deductions for medical, travel and RA directly regardless of how you are earning income.

Contract worker and the tax effects?
Contractors are taxed if they earn above the threshold. This is the same as a full time employee. 

Tax Thresholds? 
For the 2018 tax year, anyone under 65 years of age earning above R75 750 will not pay tax. 

An example of a logbook printout

  Written by Nicci   Posted 2 March 2017

I need an example of what the TaxTim logbook would look like, when printed out.

How's Tax calculated on a monthly bonus?

  Written by Nicci   Posted 28 February 2017

I'm entitled to a monthly bonus. Our salary is split into salary (75%) and monthly bonus (25%). So my salary advice states salary and monthly bonus. How is tax calculated on a monthly bonus? How does it affect the tax calculation on the additional yearly bonus?
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