Tax implications on selling my second property?

  Written by Alicia   Posted 13 February 2017

What will my capital gains tax be if I received a payment of R680 000 upon selling my second property?

Rental income and fixed deposit

  Written by Alicia   Posted 13 February 2017

I have some rental income that I would like to invest monthly in my fixed deposit. Do I pay tax on the rental income and the interest yearly? I am a provincial tax payer which means I have to predict my income?

Late return

  Written by Alicia   Posted 12 February 2017

I misplaced my supporting documents for my 2016 tax return last year, I have since found it but I needed to know if I can still submit my tax form even now that it is late?

Refund or amount due to SARS

  Written by Alicia   Posted 12 February 2017

I have minus signs in front of my refund amount on my transcripts what does this mean?

Awaiting registration verification

  Written by Alicia   Posted 12 February 2017

I opened a SARS eFiling profile but are able to click on the returns option, do you know what I am doing wrong please?

Why does Tax Tim not ask me about Assets and Liabilities?

  Written by Alicia   Posted 10 February 2017

Why does Tax Tim not ask me about Assets and Liabilities if I am a sole trader?

Why did they double tax me?

  Written by Alicia   Posted 10 February 2017

I received an increase of 50% on my salary in January, but the tax on my salary seems to have more than doubled, can you tell me why this is?

Tax on rental accommodation for staff

  Written by Alicia   Posted 10 February 2017

If a farmer supplies residential accommodation to his workers and deduct from their wages an amount of compensation (rent) for the benefit, should he be taxed on the "rental income" he receives?

Can I submit a return?

  Written by Alicia   Posted 10 February 2017

do i qualify for tax refund as a contract administrator?

Travel Claim not allowed by SARS

  Written by Alicia   Posted 10 February 2017

Hi Tim, I received a travel allowance upfront however I do a lot of traveling between two offices and I claim back travel on a monthly basis capped at 1850kms though I travel in excess of 2000kms per month. I've filed my tax return showing both business travel and personal but now SARS says I owe them about R27000. How is that possible when I didn't claim for the excess travel I did, just the capped 1850km. I can follow through their calculation but do not understand why they didn't include busi...

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Business Asset

  Written by Alicia   Posted 10 February 2017

Can a business buy a car from a private person

When do the age related tax rebates kick in?

  Written by Alicia   Posted 9 February 2017

I turn 65 in August 2017. Do I get the 65 year old tax rebate in the tax year ending Feb 2018 or only in the next tax year?

Tax on pension (lump sum) payout

  Written by Alicia   Posted 9 February 2017

I want to resign from my current employer and need to know how much will I be taxed when I get my pension of R61000?

Tax on foreign inheritance.

  Written by Alicia   Posted 9 February 2017

I am to receive foreign inheritance. How much can I bring in? What taxes are applicable? Do I have to furnish proof of where the money comes from?

Negative refund amount on transcripts

  Written by Alicia   Posted 9 February 2017

My refund amount says negative 8602 what does this mean

Supporting documents error

  Written by Alicia   Posted 8 February 2017

If I attached the wrong documents to my return, can I still resubmit the correct documents to SARS?

Unsure about home office calculation

  Written by Alicia   Posted 8 February 2017

My home office is 3m by 4m. I am not sure how to calculate the rates and electricity for the office?

Can I change my declaration if I already submitted the return?

  Written by Alicia   Posted 8 February 2017

I forgot to include my home office rental space, can I resubmit my tax return and add this on eFiling?

Can I claim for medical aid if I didnt pay for it?

  Written by Alicia   Posted 8 February 2017

My son is on my ex husband's medical aid, can I claim the contributions on my return?

CGT and new retirement fund laws

  Written by Alicia   Posted 8 February 2017

Non of the tax calculators include Capital Gains tax
What is the impact of a Capital Gains Tax on the allowable RA deduction?

What does "accrual for tax purposes" mean?

  Written by Alicia   Posted 8 February 2017

What does "accrual for tax purposes" mean?

If my turnover drops below the 28% threshold, do I still have to pay tax at 28%?

  Written by Alicia   Posted 8 February 2017

As a small business, if my turnover is R14 million in year one and then drops to R12 million in year two, do I still have to pay tax at 28% per annum,even through the turnover has dropped below the threshold?

Does the 27.5% of income you can put into a pension fund only mean income you have earned as a wage?

  Written by Alicia   Posted 8 February 2017

I am self employed and only earn about R12000 per year. However I earn about R200000 per year in interest from savings accounts. Can I put 27.5% of my total income (Earnings and interest) into a pension fund per year or only 27.5% of the money I earn through working?

Home office and CGT

  Written by Alicia   Posted 8 February 2017

I work from home and would like to find out what will the cgt implication be when I sell my primary residence and is it worth it for me to continue to deduct my office space as an expense?

Turnover tax and provisional tax

  Written by Alicia   Posted 8 February 2017

If I am paying provisional tax, do I need to register for turnover tax too?
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