Tax Q&A

CGT on unit trust sale?

Do all types of unit trusts attract capital gains tax when units are sold for cash withdrawal? Is there a yearly tax concession limit on investments such as uni

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Back dated Retirement Annuity - can I still claim?

Good Day,I've taken out a Retirement Annuity a few years ago but I never included this when I submitted my tax return as I was not aware that I could at the tim

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Basic Salary Below Threshold + Extra Commission Earned

I earn a basic salary that falls under the threshold (R5000 pm) but then earn commission which bumps it up over the threshold. Now this commission can vary, fro

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How do I claim home expenses from a former work area in a rented flat that I lived in?

Hi TaxTimI am trying to finish off filling out my tax form and came across the home expenses deduction. With my former company I was working from my rented flat

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Tax directive not issued to SARS for retrenchment?

My company forgot to do my tax directive when they retrenched me in Sept 2012. Paid me in full the amount. Can I get the company to issue me with a tax directiv

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How do I use the TaxTim calculator?

How does the TaxTim tax calculator work? You enter in the amounts based on your income tax affairs and then it will provide a result showing whether you are

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How long does it take to get a response from SARS regarding my refund?

After I have completed my tax returns how long is it going to take for me to know if I qualify for a refund or not? You would receive an ITA34 immediately fr

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I am waiting for a response from SARS about my Audit?

I was audited on the 3rd of October SARS said they would call me within 2 weeks now after that. 2 weeks I got reference and case number - now what? SARS are

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Investment information to be added on the SARS form and capital gains on what I draw every month?

Hi, I have and investment, local and foreign dividends, that I draw an amount off every month of R6 000, there is a capital gains on this. I do not own fixed as

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How to start a small family business legally?

I would like to start a small company/business, mainly selling parts for home/small office computers in South Africa. I will also sell my service of assisting t

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Do sole proprietors charge VAT if their turnover is less than a R1 million per annum?

Do I charge VAT as a Sole Proprietor earning less than R1 million turnover per annum? If so, do I need to be VAT registered? If you turn less than R1m per an

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How do I submit my ITR12 to SARS?

How do a summit my income tax return (ITR12) on eFiling after completing it? Click on the button that says "file"

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Missing "Income Replacement Benefit" certificate - what do I do?

My employer completes my ITR12 and as I don't have any other claims or income, it is usually fine to be submitted as is. However, SARS says I owe them money. As

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Does SARS, pay all the previous years and do they have my previous IRP5's?

If I do tax returns, will SARS still refund me for the past years that I`ve been paying tax if I am eligible. Secondly does SARS, has my previous IRP5 from my p

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How do I insert the income protection contribution 4018 on my income tax return?

After entering information on eFiling for my tax return and saving it my tax calculator result is not reflecting my income protection contribution...is it code

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Claiming tax on own medical aid?

I have my own medical aid. Can I claim tax on my own medical expenses. I am working and my company does not provide medical aid. Yes, you would claim for you

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Can I claim deductions for a living allowance given to my elderly mom?

I pay my elderly mom R2 000 per month for living expenses. She does not qualify for a South African pension as although my dad was classed as a South African ci

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Outstanding tax returns - will I be penalised?

I submitted my 2013 tax return and have a penalty of R500 for the 2007 and 2009 tax returns outstanding. How do I go about submitting these as I cannot find the

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Do I have to register for PAYE if my employee earns taxable income elsewhere, but only R2 500 from m

I have a parttime receptionist and pay her R2,500 per month. She also earns R15,000 per month from another employer. Do I have to register for PAYE, because h

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Tax-free scholarship - where to put on the ITR12?

I receive a research grant from the University of Cape Town which is a tax-free scholarship. Where do I include this on my tax return? You can include this o

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I classified myself incorrectly

I clicked on provisional taxpayer by mistake and I can't find a way to undo. How do I start the process afresh? You don't need to start afresh, you can

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Overtime tax - how does it work?

Hi! My husband gets paid fortnightly, the last 2 weeks he's worked 58hrs overtime(1.5) and 7hrs doubletime. His normal rate is @R62p/h. We've heard some rumours

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What is the amount needed for a tax number to be required to pay out a lump sum?

I was approached by the defense force about a sum of money they need to pay out to me. What is the amount that you need to get a tax number for the sum to be pa

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What is the tax benefit in working outside of South Africa?

My husband is working in Zambia for a South African company, his company pay his salary into his South African bank account, he has been advised that if he has

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Can I deduct the interest I pay my mother from my rental income as part of Interest/Finance Charges?

On two occasions, my mother has been kind enough to grant me funds from her positive flexi loan balance that I used as a deposit when applying for finance for i

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