Tax Q&A

Medical aid source code 4116

Is the medical tax credit stated under code 4116 on the IRP5 to be separately shown on the return again? The medical aid credit under 4116 is correct and doe

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Forgot my SARS user name and password

Hi I need help, I have saved my SARS eFiling user name and my password on my phone, but now that I have lost my phone I don't remember my password and user name

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Difference between document verification and SARS audit

Hi Tim, what is the difference between a document verification and an audit from SARS? A verification is a match between the amounts included in the ITR12 an

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Is a?sale of shares held as an investment taxable?

A?sale of shares held as an investment, is it taxable? The gain made on the shares is subject to capital gains tax. This would be the difference between the

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Application to register as an employer must be made on which?form?

Application to register as an employer must be made on what?form? For the submission of PAYE on behalf of your employees you would complete an EMP101e which

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Tax threshold for business

Myself and two others are going to try sell octane boosters in our spare time for extra money as we are students. What are the rules we have to follow if any?

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Medical Tax Credit - does same rule apply to non medical aid taxpayers?

Goodday, my question regards the Medical Tax Credit - everything I have read on it seems to apply to taxpayers that contribute to a medical aid scheme. Does th

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Tax on rental income, bond in two names.

I am co-owner of a townhouse and we are in the process of letting it. I understand that we can offset certain expenses (of a non-capital nature) to the income,

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How can I get an ITR12 income tax return form?

How can I find an ITR12 income tax return form to fill in? You can fill in and submit the return online - you don't need a physical copy of the form. To get

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How to declare foreign salary on ITR12 form

Hello Tim,I earned a SA salary and lived in SA until September last year, afterwards I went back abroad/overseas to my home country and worked there. I already

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Need to know why I must pay in a lot of money

Hi I submitted my tax return for 2012 and was told that I must pay R3400.00 subject to a audit. My docs were forwarded to the auditors. What does that mean plea

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Medical aid in my name, but wife pays for it

The medical is in my name, but my wife pays for it. Who gets the benefit of including it on your tax tax directive? Myself or my wife, since we both have differ

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When is the deadline to submit a IRP 5 form?

When is the deadline to submit a IRP 5 form? The deadline for non-provisional taxpayers is 22nd November 2013 if you are using their online portal eFiling.

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I was unemployed for 1 and half years. Can I still claim for medical expenses?

I was unemployed for 1 and half years. Can I still claim for medical expenses? You cannot receive a refund greater than any taxes paid, so if you have been

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2014 tax year - What is the exempt amount on the interest from investments?

2014 Tax Year. What is the exempt amount on the interest from investments? For taxpayers over 65 years of age the exemption is R34 500 per annum.

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Medical expenses deduction without medical aid

Hi. I recently went to SARS and I got my refund back. However I also submitted medical receipts to the value of R3266. My total income was R13850. The amount I

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Who qualifies to claim for depreciation?

Which kind of taxpayer qualifies to claim for depreciation of assets? Assets used for business purposes, owned by you, can be depreciated using the SARS wear

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Tax reference no

What is my tax reference number? You would need to call 0800 00 7277. If they tell you you don't have one, you will need to register for an income tax number

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Provisional Tax form completion for declaring Capital Gains

I've cashed out my investment portfolio in May this year, in preparation for emigration, which will be completed in September this year. So I need to fill out

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Tax number

What is my tax reference number? You would need to contact 0800 00 7277 to retrieve your tax number.

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Can l get my IRP5 direct from SARS

The company that l was working for closed and I am failing to get hold of the Accountant. Is it possible to get my 2010 IRP5 directly from SARS for e-filling pu

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Employer won't give my IRP5, says it is on the system already. How long does it take?

My employer doesn't want to give me my IRP5 form. He said he has already submitted for everyone since July. How long does it take to get on the system? Unfor

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Cell phone depreciation

I took out a 24 month cell phone contract at the end of January 2013 that I pay for on a monthly basis. My phone is used for business and personal purposes. I w

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SARS working days

How many days do SARS open per week? Mondays - Fridays

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Selected for audit with travel allowance. How long to resolve?

Hi TimThis is a really helpful forum. I have a query which I require advice on or a possible solution. I completed my tax return on the 14 July 2013. In the prior

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