Tax Q&A

Tax on severence pay and retirement lump sum

How is tax calculated on severance pay and a lump sum withdrawal from a retirement fund. For instance I took voluntary early retirement and was paid severance

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What do I do with IRP5 and IT3a that I received at the end of my leanership?

I worked one year for a leanership and now I have received IRP5 and IT3a, so what must I do with them? Please Register for TaxTim to let us help you compl

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Where is the interest on the bond for home office expenses claimed on the ITR12?

Where do I claim the interest on the bond portion of my home office expense on the ITR12, is it under the "rental" section of the expenses? Under the Other

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How to apply for a tax number without getting penalised?

If someone has never had a tax number and has only had temp jobs like waitering, bar men, etc and now has had a fixed job. How would one go about applying for

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Tax not refunded on date

If SARS owes you and payment date is on the 1st of sept and money still not in... And I use capitec... Why isn't the money in yet.. Those payment dates ar

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Interest paid on a home loan

Can interest paid on a home loan be deducted in an individuals tax return? Unfortunately not, if the home in question is lived in by you personally.

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Refund withheld due to supporting documentation denied

As this was my first year registering and submitting my tax return, I submitted all tax returns up to 2008. I was thus requested to provide supporting documen

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Please advise on inheritance tax and interest income tax.

I am receiving R 800 000 from my uncle, as part of an inheritance. Will I have to pay tax on this. I would like to invest it where I will receive a monthly in

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Where do I fill in the amount received for travel allowance?

I am struggling to find the tab where I need to fill in the amount received for travel allowance, where do I fill in the amount received for the travel allowa

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Claiming health insurance when not being the main member

Hi, I am health insured as a dependent with my husband, who is the main member. Can I claim any of the expenses for health insurance with SARS even though I a

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So when am I going to receive the money from SARS?

I received a mail last week 28,08,2015 from SARS saying no adjustment has been made, so when must I expect money in my bank You should receive it in a few

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When is a CC liable 2 pay tax to SARS?

From how much profits is a CC tax compliant? If the CC qualifies as a Small Business Corporation (SBC) for tax purposes, then the first R73,650 of taxable

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Are local dividends included in local interest?

Do I include my local dividends earned, as listed on my IT3b, to my total local interest earned? No, dividends are disclosed separately from interest on th

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When will SARS REFUND ME AS IT GAVE ME TWO DATES FOR PAYMENT NAMELY 1ST AND 30TH SEPTEMBER

SARS gave me to refund dates 1 September and 30 September however it did not pay out on the 1st of September? It is probably best to call the SARS Helpdesk

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Does SDL go under UIF in taxable income calculation?

Can we put Skills development levy (SDL) under Unemployment Funding Income (UIF) in our taxable income calculation? SDL and UIF is not deducted from your s

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Tax return with commission?

I have never done my tax before. I've always earned a small basic and a lot of commission since I have worked as a beauty therapist. How do I go about submitt

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Payment after completion letter from SARS

I submitted my tax return on 05/08/2015. I was then asked to submit supporting documents which I did on 14/08/2015. Today 01/09/2015 I received a completion l

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Must I submit my tax or not?

I started to work for a company and earn R240 000 p. A. I receive a fixed salary and enjoy no other fringe benefits or additional benefits at work and they de

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No communication from SARS

Hi Tim, 36 working days have now passed and still no word or refund from SARS. I submitted my documents for review on 10 July 2015. On following up recently,

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Assets and Liabilties - To whom does it apply?

Does the asset and liabilities section pertain to business (if one is a director) or is it on a personal basis? If it is for your personal tax return, then

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I don't have an IRP5 as I am an independent contractor

I did not receive an IRP5 as I am an a independent contractor/consultant. All my income was derived through consulting work. Tax Tim is now saying that I need

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Deducting Training expenses

I'm a self-employed private practice physiotherapist. Can I claim tax deductions on a one year course that I've completed to enhance my qualification? If so,

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Training debt

Hi Tim. I was given functional training by the govt to the tune of R1,2 mil. In return I had to work it back over 13 years as part of the training bond. I lef

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I owe SARS money, will it be deducted from my pension fund?

I owe SARS - R18,000. My pension will be paying out soon, will they automatically deduct this from my pension or must I first pay this amount? They will

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How to submit an older tax return than the year you are in via eFiling

I have filed my 2015 Tax tax return. Now SARS wants me to submit my 2011 Tax tax return via SARS eFiling. I have the 2011 IRP5, but I don't know where to find

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