Tax Q&A
Multiple small revenue streams - consolidate expenses across all? (Sole prop)
I have multiple small revenue streams, some with expenses attached to them. Do I ringfence each income/expense area, or do I consolidate them which would enab
Read moreHow do I calculate the depreciation on my office equipment?
I have completed my 2016 tax return via TaxTim. On the depreciation of office equipment I indicated that I am depreciating my laptop which was bought for R20
Read moreIs proceeds from a trust taxable in the hands of the trustee?
My Grandfather left a family beach house in a trust for the family to use. Over the years it was not used anymore so it was sold and each person in the trust
Read moreMust I declare a Tax Free Savings Contribution to my Child's Tax Free Savings Account?
Must I declare a Tax Free Savings Contribution to my Child's Tax Free Savings Account? No, your child will have his/her own R30,000 annual contribution
Read moreCan I claim this unpaid loan as a capital loss?
I made a loan of R25 000 to a family member, which I will not be able to recover. I understand that I cannot claim this as a bad debt. Can I claim this unpaid
Read moreMedical Aid contributions, am I due a refund?
I am on the Government Medical Aid Fund (GEMS). My employer contributes a portion and I contribute as well. Both amounts go directly off my salary as a lump s
Read moreAm I due to pay CGT on my rental income?
If my rental income are paid directly into my bond account, do I have to pay Capital Gains Tax on it? You are required to pay tax on the rental income if y
Read moreCan I stil register with TaxTim?
I have already completed the tax return but only saved it, not submitted assessment, can I still register with you and you help me? Yes you are welcome to
Read moreDo I have to file a return for a dormant company?
I registered a company in April 2016 but have not earned an income yet, do I need to submit a return even if there was no income? Yes, you would need to su
Read moreCan one change banking details on eFiling?
Can one change a business banking details online instead of having to go the nearest SARS Branch as stated in a message sent to me from SARS? You can chang
Read moreCan I get a UK CGT credit against SA CGT?
If I am resident in SA but sell a UK property I will have to pay UK CGT, but as this isn't income tax, will I get a credit for the UK CGT paid against the SA
Read moreCan a landlord claim travel expenses in relation to the rental income?
If the landlord has driven from JHB to CT, for example, primarily to effect repairs & maintenance on their rental property between tenants, as well as to meet
Read moreFreelance & Full time job tax submission, can I complete this on one form?
I have a full time job, but do freelance on the side. I would like to submit for my job as well as my freelance, including the mac I bought, my Fiber line ren
Read moreHow can I change my email address on TAxTim?
I am registered TaxTim user, is it possible for me to change my email address? When you are logged into your profile click on MY PROFILE in the top right b
Read moreAre retrospective changes to an IRP5 possible with SARS?
I am an independent contractor and do consulting work for a number of companies at any given time. When the one company submitted the 2016 IRP5 they erroneous
Read moreSARS ring-fenced the loss on my rental property, can I request that they revise my assessment?
I had a property that I rented out to tenants for the last 4 years. In the 2015/16 tax year, I made a loss on this, due to the expenses exceeding the rental i
Read moreWhere do I enter source code 4006 info?
Where do I enter source code 4006 info? It's on my RA Contribution Certifcate from Liberty Life. It's a monthly debit order from my bank account.
Read moreIS there a special code that I should capture on my IRP5?
What code should I use on my IRP5 if I am a sole proprietor providing management and labour law consulting services? Unless you pay employees tax over to S
Read moreHow do I get SARS to acknowledge my expenses?
I sent through all the supporting documents but SARS ignored my expenses and redid my tax return and are now saying that I owe them? You will need submit a
Read moreOld donation, can I claim it now?
In 2013 I made a donation of R5000 to a registered charity which I forgot to claim. Is it possible to claim it in my 2015/2016 tax return? No, you would ha
Read moreIf I have been medically boarded and receive income protection benefit does this mean I am disabled?
I was medically boarded at the end of 2015 but am covered by a Discovery Income Protector policy. Does that mean I am "disabled" for tax purposes?
Read moreAm I required to pay tax if my employer is a non profit organisation?
I am working for a non profit organisation and earn R6400, do I have to pay the tax over to SARS directly or does my employer do this? You will have to pay
Read moreIncome tax and a partnership
Does a partnership need to register for income tax if they are registered for VAT? A partnership is not a legal entity for tax purposes, the individual par
Read moreOut of pocket expenses with no medical aid, can I claim?
Can you claim for out of pocket medical expenses if i did not have a medical aid and will this decrease my tax liability? Which medical expenses do you hav
Read moreCan I claim for depreciation on my vehicle?
Can I claim for wear and tear on my personal vehicle and how do I do it? I kept a logbook because I am getting a non taxable allowance for the km driven for b
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