Tax Q&A
I repair appliances and also repair my own vehicles.Do I have to do 2 returns?
I'm repairing appliances and my own vehicles. Do I have to do 2 tax returns? I also recently repaired another vehicle. Do I have to show it in 2 tax returns-1
Read moreInclusion of rental expenses in CGT calculation
If I earned no income from a rental property (which I rented out for about 7 years) and sold it in the same year, can I still deduct the expenses (levies, int
Read moreTax on income from internship
Do I have to pay tax earning R3200 a month? No, you are below the threshold and therefore no tax is payable. See our SARS income tax calculator
Read moreWill the reason given on a tax directive affect SARS's decision?
Will the reason given on a tax directive affect SARS's decision; if the severance benefit is being paid out as a result of a voluntary settlement between
Read moreIs occupation rent an allowable deduction against rental income?
Is occupational rent paid to a developer, of a new-build property, an allowable expense to deduct from taxable rental income? The property in question was re
Read moreWhat is your fee for retired farmers?
I am a retired farmer with only rental income which I earn from renting out my farm. My income is R500000 per year. What will TaxTim cost? Is the rental i
Read moreRetirement annuity, refund or not?
I'm currently unemployed, but submitted a tax return for my retirement annuity which was R3400 in the last tax year. I was surprised that I did not get anyth
Read moreCan I resubmit 2016
Submitted 2016 tax return but i need to know if I can still resubmit the return even after an assessment was issued? You can "request for correction" your
Read moreWhich base cost to use when calculating CGT?
I bought some Satrix Divi through the Satrix Investment Plan in Aug 2007. All dividends were reinvested by Satrix, ie every quarter more shares were bought. I
Read moreDo I need to file a tax return with R260 000
I am unemployed but earn interest income ( approximately R260 000 annually)from fixed term deposits I am under 65 and contribute to medical aid and retirement
Read moreProcedure for replacing present accountant with TaxTim
I have an accountant doing my tax return at present, what would be the procedure for taking my present accountant off my tax account, and replacing him with y
Read moreCompany Assets
I own a small business and sold a company vehicle for more than I owed the bank is this profit on sale of assets? Yes it is regarded as a company profit on
Read moreDo second-hand purchases count towards expenditure?
Can I purchase 2nd hand equipment as an asset for my business and then add that full amount to my business costs? The item will come in under R7000, so I beli
Read moreWhy 2 returns in one month?
I have just filed a tax return in February 2017 and have to pay in an amount by end March 2017. Why am I asked to file ANOTHER tax return for provisional t
Read moreShould he pay tax?
My husband is a South African citizen and he is only earning R5500 a month does he have to pay tax? Is the R5500 after deductions or before deductions
Read moreSARS wont refund me
I was a contract employee for 3 months after graduating and was taxed an amount of R4500 on a total income of R18000 for the 3 months. When I submitted my tax
Read moreWe earn little so should we be taxed?
I work for a small company and all of us earn salaries ranging from R3 000 to R4 500 and only the owner earns R25 000. So now the company wants to register fo
Read moreRefunded tax-invoice does not include the tax portion only the service fee before tax.
I pay Eskom directly for electricity. Every few months they overcharge and I have get them to refund and rebill. The issue here is that they only refund the s
Read moreHow will tax work on my bank account with other peoples money in it?
Me and five members of my family want to start investing. Before the profits will be paid out the company that does the investments does the tax part on it an
Read moreSARS refund document verifiction
Hi, I have filed tax returns with SARS through a practitioner in 2016 for the period (Aug 2015 - Jan 2016) when I was working in SA but I have been notified
Read moreGetting paid in dollars
Hi, I am working for an overseas startup. I get paid in dollars. For the last six months I have been getting $500 a month. Starting this month I will be getti
Read moreRental expenses claim during the next tax year
If I spent more on maintenance of my rented granny flat than I earned in rent can I offset it over several years? Can you kindly tell us what kind of main
Read moreIs this allowed by SARS?
Can I contribute 27.5 of my income to a pension even if my employer only allows me to contribute 10% through them to our work pension fund? Kindly read our
Read moreTax on CCMA settlement
I am about to receive a CCMA settlement and was told by my previously employer that I will be taxed on it, is this right as this will be my first income after
Read moreSale of rental property
My son works abroad, but he owns a rental property in South Africa which he sold recently. Is he required to pay capital gains tax on the proceeds? Yes you
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