Tax Q&A

Minimizing tax liability

At the end of the current tax year my taxable income will exceed R1.5 million largely due to income from an employee share option scheme. My income comprises

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International special stopper

I live in Australia and work for a South African Company I did submit my tax return on time, but I'm still waiting for my refund. They told me that I should v

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Earning between R20 000 and R1 Million on Forex Trading every week

I'd like to find out if I pay myself R20 000 to R1 Million every week, do I have to register as a taxpayer or do I use the existing tax number that I use as a

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Grandparent paying school fees for grandchildren?

Is it allowed for a grandparent, who's South African, to pay his South African grandchildren's school fees without it counting as a donation? If the amount

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Income from overseas

My wife does some occasional freelance work for a company overseas. As well as here in South Africa. Her local freelance brings in about R3500 per month. She d

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How can I depreciate my small business equipment if I dont have invoices?

I have a mobile phone; laptop; tablet and home office furniture which I use for my small business. I bought them four years ago, but I've never depreciated th

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Capital gains tax or income tax - forex trading

What's the difference between capital gains tax and income tax? Which of the two does retail forex trading fall under? Forex Trading for the purposes of ma

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Legal methods for reducing commission tax?

I work in IT and I get paid my normal salary every month and on occasion. I'm also involved with projects where I earn commission. I don't actually know how m

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Emigrating and tax affairs

What does SARS need to finalise tax affairs when emigrating? All my local income will come to an end once I leave. Once leaving South Africa will all your

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Capital Gains Tax: Two

I bought a house in December 2013. In November 2015, I bought a second house and it was registered in my name, February 2017. The intention was to let out the

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Tax clearance certificate for a non-resident

A non South African citizen brought money into South Africa, bought a house and sold it recently. She needs a tax clearance certificate. How does she get it a

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CGT on primary residence (if it has been let out - also my only residence)

What CGT would I be liable for if my primary residence is my only residence - but rented out? Kindly refer to our Capital Gains Tax Calculator Thanks Ti

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Tax implication on Voluntary Severance Package

What will my tax be on my pension R776000.00 and what will my tax be on my voluntary severance package R342000.00 Please make use of our Lump sum calculato

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Splitting medical aid contribution on a tax return

I'm the main member on our medical aid and the R3500.00 contribution gets deducted from my account. However, my husband reimburses me for his half (R1750.00)

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When can a taxpayer claim the tertiary tax rebate?

If a taxpayer turns 75 after 1 March 2017, does he/she get the benefit of the tertiary rebate in the February 2018 tax year, and does he/she have to already b

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Can register for tax without an ID?

I want to register for a tax and it's urgent. I lost my ID and my driver's license too. You'd need to get a temporary ID from Home Affairs and then go to

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Income Tax on Dividends

When receiving a Dividend from a Company (as a Shareholder). The Shareholder is taxed at 20% of the value on the dividend paid. If you're also earning a regul

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NGO and Paying Tax

In which circumstances will a non profit organisation pay tax? They are required to pay employees tax if their employees earn more than R6350 per month.

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Company Taxes (Income, PAYE, VAT etc) Registration

Please advise if you're able to assist with registering our company for all relevant taxes and what the cost will be? We unfortunately don't offer a servic

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Paying a nanny- is it claimable?

If you have a nanny can you claim for the wages you paid to her? No unfortunately this is a personal expense which is not deductible for tax purposes.

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How do I calculate the municipal expenses on rental property without previous statements

I cannot locate all my past municipal statements for my rental property, I need them in order to log the rates etc. as an expense. I've tried accessing them o

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SARS Refund and sequestration

Why do I need to disclose my income tax number in my sequestration court application? Does this mean that I will not get any SARS refunds due to me whilst und

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Provisional Tax Submission

I freelanced for the 2016 tax year. I just applied to be a provisional taxpayer on SARS eFiling. Do I need to fill out an IRP3(pa)? And when is my first provi

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Bond credit life cover premiums

Are bond credit life cover premiums tax deductible against rental income? Credit life cover is compulsory, as per the bond approval pre-agreement. Homeown

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Can expenses incurred from other income be deducted?

If I'm a full time employee plus I do something outside of work that generates income and expenses, can these expenses be deducted? These expenses can only

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