Tax Q&A
Pension Fund Payout pre-retirement for tax purposes?
I am 32 years old and have recently resigned (from a government department). I would like to withdraw my pension, but as part of this can either have it paid ou
Read moreIs PAYE included in the gross income figure on an IRP5?
Where do I show PAYE paid over to SARS in the books? And is PAYE included in the gross income figure (code 3601) on an IRP5? Are you referring to the account
Read moreAre setting up of WILLS tax deductible?
Can I deduct the cost of setting up a Last Will and Testament in my next ITR12? I have already received an invoiced from my attorney. Unfortunately not, thi
Read moreHow to calc and when to pay CGT on a once off payment?
received a once off payment in June 2014 from a trust and my company asked Phillipp Haut for an opinion on how it should be taxed. His response was What is ce
Read moreOffshore Tax working for SA company
I work offshore for a SA company and as such have monthly tax deductions. I have been out the country for more than 183 days of which 105 days were consecutive.
Read moreSource code 3022 - PROFIT FROM TRADING ACTIVITIES (TAXABLE) not on eFiling
I am trying to declare the profit on the trading of shares (non-Capital gains) in e-filing but the required source code (3022 PROFIT FROM TRADING ACTIVITIES (TA
Read moreIT88 definition?
Please give the definition of IT88 and how it arises? This is when you owe money to SARS for prior taxes and they issue your employer with a document stating
Read moreTax refund on inheritance
My partner inherited some money (from policies and investments) over the last financial year and paid a lot of tax on the payments. My question is, because he
Read moreWhat are the implications of self funding benefits such as life cover, disability, med aid etc?
What are the tax implications of self funding benefits such as group life cover, disability cover, medical aid and retirement funding compared to when these ben
Read moreCan income tax number be done over the phone
Can't I apply for a income tax number over the phone because we don't have SARS in our area,and its my first time to get a job? Unfortunately not, but you ca
Read moreWhat to write in Employer Details field on IT77 form registering fot Income Tax
My father passed away, I will be inherit his farms,there is a lease agreement that will continue. I am not currently working. I applied for a loan at Landbank,
Read moreIncorrect provisional tax return resulting in monies owing to SARS?
Can I negotiate with SARS to reduce an amount owing from a previously incorrect submitted tax return i. E. An accountant submitted a provisional tax return on m
Read moreNeed special license for my business?
Where can I get tuckshop licence You would need to approach the department of trade and industry.
Read moreTax refund for medical expenses paid from my own pocket?
My husband pays the medical aid contribuions but I have paid 107000 to medical practitioners for operations that I have had in 2014 how much would I be able to
Read moreI did the interview at MR PRICE so they want TAX NUMBER?
I had my interview at MR Price today so they want me to go to SARS and have TAX NUMBER. So I want to know, DO I HAVE TO PAY TAX? If you are earning more then
Read moreDeclaration of donations for tax purposes on the ITR12?
My wife is a housewife and does not earn any income. I regularly make investments for her into unit trusts. Do I have to declare these donations to SARS? Thank
Read moreAllocation of Small Asset write off on ITR14
ITR14: Would small assets (below R7000) that were expensed during the year, be reflected as depreciation (under Expense Items and Adjustments: Added back) an
Read moreMy income tax number?
How do I get my tax number? Please contact 0800 00 7277 in order to get your tax number.
Read moreSalary paid and claimable expenses?
1. I am a salaried employee, I receive a travel allowance so I claim my business km's by using a logbook- but I would like to know whether I can also claim the
Read moreWhat declaration must a partner in an investment partnership include within his/her tax returns?
A number of individuals contribute monthly towards a partnership whose sole business is investing in the stock market. This results in capital gains and interes
Read moreS10(1)(o)(ii) - does all the time out of SA need to be spent actually working?
I am a freelancer, and last year I spent 248 days out of SA, in three blocks (including one block of more than 60 days). During some of this time out of the co
Read moreTax implication for my child if I give her 500 000 .00?
I want to give my child 500 000. 00what is the tax implication for my child? This is for a gift. Thank you kindly There would be donations tax on the amount
Read moreIs a loan to an employee a S11a deduction?
If a company borrows e. G R5000 to an employee, with no interest, Is it a S11 (a) deduction? where do I work it in, in the taxable income of a company? I
Read moreIs it mandatory to file every NOO that you request on eFiling?
How do you delete/cancel a Notice of Objection that you have requested on eFiling when you realise SARS have actually been right in their assessment. This is be
Read moreWho should be liable if you income gets combined by SARS & you owe them but you as the tax payer wer
Why would you fall under another tax bracket if you get a basic salary from employer A & commission from employer B which get paid on different dates, howev
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