Tax Q&A
Will I pay 40% tax if I took my money out now
I want to withdraw my pension fund and start my own company. My amount with old mutual stand on R1 172 000 How much tax will I be paying?my hr department tells
Read moreAm I being double taxed?
My company maternity policy states they will only pay me 50% of my basic salary while on leave, lets say R10. They paid me in full but if I leave I have to pay
Read morePAYE regulation regarding 'unpaid salaries'.
As a shareholder/director of a PTY, if I received "unpaid salary" that then accumulates in a loan account, would I still be require to pay PAYE, even
Read moreDo you need to include an assessed capital loss in your tax return?
I incurred an assessed capital loss for the 2013 tax year through sale of shares. For 2014, I made a capital gain also via shares. I read that we don't need to
Read moreTax if working in Angola?
My husband is working in Angola since September 2013, do we need to fill his tax? He paid tax previously and was working in SA from March 2013 - June 2013? Do w
Read moreIs PAYE going to be increased by 50% next year?
I heard that PAYE is going to be increased by 50% in the next Tax year. Is this true? No it isn't true. There will be some tax changes, but we will only know
Read moreMy daugther needs a tax nr.
My daugther is in matric and she start working on the 1 December they said they need a tax nr. musti register her and how do I register her? Please follow th
Read moreHow do I delete my eFiling from my tax practitioner?
I have a tax practitioner doing my tax but I found out she is doing fraud on my eFiling profile how do I delete my eFiling she wouldn't give me my user name or
Read moreTax rebate for working out of South Africa but paid in South Africa
I work overseas , for about 8 months of the year, sometimes 2 months at a time. I am paid by a South African company in Rands into a South African bank account.
Read moreTax obligations on monetary gift from foreign source?
I am a UK Citizen and have had Temporary Residence in South Africa for a few of years. I work in South Africa, have a valid work permit and am married to a Sout
Read moreCan I get a tax practitioner to submit for me if I did it myself before?
Is it possible to change from submitting by myself to using a tax practitioner for instance? Yes, your tax practitioner will do this for you. Or make use of
Read moreHOW WILL I REFUND EXCESS UIF CONTRIBUTIONS
I HOLD TWO JOBS IN DIFFERENT COMPANIES, BOTH CONTRIBUTE TO UIF, WILL THE EXCESS CONTRIBUTIONS TO UIF BE REFUNDED ON MY TAX RETURNS? No it will not, only if y
Read moreIs a verification of assessment notice that assessment have been concluded?
I received a Verification of Assessment and it states that refers to a specific tax period. No adjustment has been made to the assessment. Is this to say that
Read moreSARS won't register me as an eFiler?
I have completed a once off registration as an eFiler, told to wait 48 hrs for verification, the problem is it been weeks now nothing, when I log in to my profi
Read moreTax on Severance Pay?
how do you tax Severance Payment? What are the conditions of the payment? Retrenchment You would use the Lump sum calculator if it were a lumpsum. If
Read moreHow much tax will I pay if I earned R 4216.86 in overtime worked?
How much tax will I pay if I earned R 4216.86 in overtime worked? It would depend on the rest of your income for the year which must be added together to det
Read moreIs it possible to be taxed 25% of your total income working part time?
I would like to know if I am getting paid R5000 a month and I am working 15 hours a week which totals to 60 hours a month therefore how must should I be taxed b
Read moreShould I fill in a tax return if I am studying full time this year without income?
For the past 5 years I worked full time and filled in a tax form each year. Since this year I am studying a full time Masters. I don't receive any income, I pay
Read moreHow can I get my UIF?
How can I get my UIF? You need to visit the Labour Department to claim your UIF.
Read moreSource code for rental income?
As rental income is included under 'business' I don't know how to find a source code as this is not listed. Profit Loss Description2532 2533 P
Read moreHow do I apply for a tax number online?
Am a student doing my in service training, is it possible to apply for tax number online? You cannot apply for a tax number online, but follow our link to fi
Read moreAre dependants on someone else's medical aid allowed to claim out of pocket medical expenses?
Are dependents, on someone else's medical aid, allowed to claim out of pocket medical expenses from SARS, because the medical aid was depleted early in the year
Read moreWhat will be the total tax payable to SARS?
It would be appreciated if you can advise what will be the total tax payable to SARS. My age is 56 and I go on early retirement in oct 2014. Provident lump sum i
Read moreHi TaxTim just one question how long does a refund take
Hi TaxTim just one question how long does a refund take I did eFiling on 23/09/2014 and gave supporting documents and still no word from SARS (20/10/2014)? S
Read moreAcquisition of an asset less than actual value for tax purposes?
how to calculate a fringe benefit on an asset acquired less than its value? You need to take the difference between the market value and what was paid, that
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