Tax Q&A
Changing accountants, from my current one to TaxTim
I already have an accountant that does my tax returns etc. I would now like to change over to TaxTim. What is the process in changing? When you go through ou
Read moreTax fluctuations on my payslip?
Why does tax differ/fluctuate from month to month even though nothing has changed in your salary? It should not, your tax taken off should be exactly the sam
Read moreBank statements
I want to apply as a taxpayer, what if I don't have three months bankstatements yet,but I have my contract? You need to have 3 months bank statements,
Read moreWhen is my first provisional tax payment duel?
I established a new medical practice in January 2015. When is the first provisional tax payment due? In your personal name or as a company? I am the sole
Read moreWhat will my refund be?
How much should I expect to receive from SARS as a refund? You can make use of our Tax refund calculator to determine how much you would be due from SARS.
Read moreIncome per annum to submit tax return to SARS?
What must your salary per annum be to submit your tax return? You should submit a return always, so that you are compliant with SARS. However in order to pa
Read moreTAX ON FOREIGN INCOME
What EXACTLY does this mean:"Foreign tax credits for this period (6 months) - if you earned money from overseas and any taxwas withheld or paid, include th
Read moreShould student register as a taxpayer
Hi Tim,My daughter is an Arts student and occasionally (2-3 times per year) does Poetry performances, for which she is usually paid in cash. She recently perfor
Read moreHow much will I pay on a salary of R5772?
Do interns subject to income tax?. . My gross salary is R5772,00 If that is your only income then no you will not be subject to tax.
Read moreHow can I apply and register for Business tax reference
How can I apply and register for Business tax reference If your business was recently set up by CIPC then it should already have a tax reference number.
Read moreRA - not full tax year
How do I enter my RA amount if I've only been contributing for the last few months of the tax year, ie from 1 November? Would I enter the total of the monthly a
Read moreIn need of a tax number
I need a tax number, I have never had it before and the SARS office are too far from where I stay. If you work for a company, your employer can register you
Read moreForeign income tax for SARS?
I'm moving back to South Africa after 5 years but have forex investments abroad, I will be transferring the profits to my south African bank account monthly onc
Read moreTax directives on commission?
What is the position where an employee earns a high salary and pays site and PAYE on this but also earns commission over and above his salary. Can he claim a ta
Read moreDo I pay tax on my buy to let property inspite of being a tenant in someone else's property?
I own a property that I rent out but I am also a tenant to someone in someone else's property. Once the buy to let property is paid off, am I still obligated to
Read moreSelf-employed and Commission Earnings Tax?
I will be starting a new job where I will be working on a contract basis and invoice the company each month for my hours worked to receive payment. How much wil
Read moreIncome tax not deducted'on my payslip?
Ive been working for roughly 7 months on a continuous contract and I earn R5500 a per month. On my payslip it doesn't show any PAYE or any income tax deductions
Read moreIf I do not meet the requierments for provisional tax this year what must I do?
Good Morning. I would like to know if I were a provisional tax payer in previous years and this year I do not meet the requirements do I still have to pay provi
Read moreCan I depreciate a second hand vehicle?
Vehicle depreciation and year model clarity. Can I buy a second hand vehicle that is three years old and still depreciate the vehicle over five years? Yes, b
Read moreTax calculation on cost to company package of R 988 152
I am 43 and I earn per month a gross of R71 805, with a contribution of R3705. 15 as my contribution towards my pension. I have made provision for payment of my
Read moreHomeloan interest payments or the whole repayment
SARS have asked me to take a look at my 2014 return and to correct any "errors" that I find. I receive property rental income. I have a bond on that property.
Read moreRetirement lump sum withdrawal benefits
How would you tax a retirement lump sum withdrawal benefit? How would you calculate deduct this retirement lump sum withdrawal benefit in your tax calculation f
Read moreTax rebate when earning below R50 000 for past financial year?
I only started working in January this year and earn below R50 000 for the months of January and February, can I get a tax rebate? Yes, the tax that you woul
Read moreProvisional tax period for declaring a secondary property sale.
I sold a secondary property in January 2015. The registration into the new owner's name will only go through in April/May and therefore the payout of the profit
Read moreWhy do I pay high tax on a little salary?
I'm an educator who earns about 20k gross salary and I'm also earning my late husbands annuity income of 10k pm, but whenever I go to SARS to submit my returns
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