Tax Q&A
Hi how do I Declare rental income on my tax form?
How do I declare rental income on my tax form? If my rental income is less than my bond, municipal and levy costs do I have to declare as I am at a loss? Yo
Read morePenalty assessment?
What is a penalty assessment? I thought I had submitted all my returns as I had broker doing this for me who I paid every year but now I notice that there is a
Read moreRetirement calculation?
How much can I get if my pension money is R1 010 000. for tax year 2015 Please make use of our Lump sum calculator in order to calculate this amount.
Read moreIT34 account balance and due date ?
Hi Tim, on my IT34 ist states:"Thank you for submitting your income tax return for the 2014 year of assessment. Your assessment has been concluded and refl
Read moreHow can I get a SARS tax number?
How can I get tax number? Please follow the link to find out How to get a SARS tax number
Read moreDeath and tax years applied
If a client/tax payer dies in one tax year but the claim only occurs in another tax year, what transaction year, year of assessment and period of reconciliation
Read moreCan I claim medical expenses as a dependant on my husband's medical aid?
I'm a new provisional taxpayer. Our private medical aid is in my husband's name. Can I claim anything for my medical expenses not covered by medical aid? Yes
Read moreCan my employer get my tax number or should I?
I just completed my studies and I am going to start working at quite a large company next month (January 2014). Should I get my tax number myself or will they b
Read moreIf there anything I need to pay or collect from SARS
How do I check if I am in areas for my returns or if I have to collect anything from SARS? You would need to file a return which you can do so by Registerin
Read moreTax on stipend?
If I earn a stipend of R3 390 a month do I pay income tax? No you will not pay tax as this is below the threshold.
Read morePenalty for late submission to SARS?
I submitted my tax return for the 2014 period right on the deadline date. However my 2012 return was not submitted, I finally managed to get the IRP5 and did th
Read moreDo you pay tax on cash back from loyalty programs
I work as a sole proprietor, I belong to discovery and get a cash back bonus every month, do I need to treat this as income and pay tax on it? No you do not
Read moreWhat are the requirements to claim back PAYE when working outside the country (SA)
What are the qualifications if working outside SA to claim back your PAYE? Please follow the questionnaire to determine if you can I claim a portion of my f
Read moreWhat is a referral of audit?
What does it mean when you have been referred for audit, even though you have submitted your tax return and supporting documentation? Is it because I have a bi
Read moreCan a new taxpayer claim refunds for last five years?
My wife did not register as a taxpayer previously because she was told she earns a salary below the taxpayer threshold. She now intends registering as a taxpaye
Read moreCruise Ship Work?
I work on a cruise ship and get paid in US Dollars. I am only in south africa probably 8-10 weeks a year. Do I have to declare that foreign income and pay tax o
Read morePAYE on December bonus
How do you work out the Tax Paye on your December bonus? You would either add it to your December pay and then apply the tables on the whole amount or calcul
Read moreIs profit from offshore currency trading taxable in South Africa?
Is profit made from currency trading offshore taxable in South Africa? Yes it is, if the trading is for a profit making purpose then you would be taxed on th
Read moreHave car allowance but using car that is not registered in my name?
I get a car allowance and the car I am using is registered in my wife's name. She is paying for the vehicle. Sars is refusing to pay me a refund because the car
Read moreis a owners loan Vat-able when he takes it out of the business, can we claim back VAT for the busine
Is the owner's loan Vat-able when he takes it out of the business, can we claim back Vat for the business No it is not subject to VAT.
Read moreTax implications on money transferred to my account.
My brother and his son has sold a flat in Durban. My brother lives in the UK and is married to a UK citizen. He wants to transfer his portion of the money to my a
Read moreAre contact lenses tax deductible medical expenses?
Are contact lenses tax deductible medical expenses? Only for the out of pocket expenses can you claim for contact lenses which will be subject to the formula
Read moreReturn - Data Submitted To ITS. Audited and Reviewed. Does it take longer to refund?
I submitted my eFiling on the 18th and then submitted my supporting Medical payments on the 20th. I have noted on the system it says the last Status is 27th. A
Read moreTAX AMOUNT OF LUMP SUM OF RETIREMENT FUND WHEN I RESIGN
I WANT TO KNOW HOW MUCH THE TAX WILL BE ON THE AMOUNT OF R1 392 779 - THIS IS THE AMOUNT OF MY RETIREMENT FUND WHEN I RESIGN NOW Please make use of our Lump
Read moreRetirement lump sum of R44 7 300 after ta?
How much will I get when my lump sum retitrement of R447 300 is taxed? Please make use of our Lump sum calculator to work this out.
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