Tax Q&A

How do I know if I am due a tax refund?

Is there anyway of determining whether I am due a tax refund before filing my ITR12 with SARS? You can make use of your Tax refund calculator to have an ind

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An elaboration on source codes 4040 and 4020 on the ITR12?

My wife and I are members of a medical aid. I am the main member and she is a dependent. The cost of the monthly contributions are partly paid by my employer an

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How do I know when my tax return has been accepted/finalised?

Hi Tim, I have read through your blogs and I have to express my amazement. Really great stuff! II completed my tax return last night via eFiling and I have only

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I sold shares, capital or revenue for tax purposes?

The shares I sold were before the 3 year automatic capital period, does this make them revenue in nature? Why do you consider your shares as revenue? Do you

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When do I get my SARS tax reference number in writing?

I registered a company , THIRD PHASE ELECTRICAL but never received a tax number? You need to phone 0800 00 7277 to have SARS send you a copy of your IT150 ta

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What if I earn different amounts per month, how is the tax calculated?

What happens if my income varies in different months? Example:Jan-March I earn only R5,000 per monthApril & May I earn R6,500Remainder of the year I earn R5,

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When do complete tax on new job?

If I started a new job on the 1st of September, 2013. Am I required to do a tax return before tax season ends next month or do I only do my tax next year? Curre

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If your salary is R10 000.00 pm on contract basis are you suppose to register for SARS?

My son is working on a contract basis (2nd year) - Salary R10 000.00 pm. Since his 2nd year of working, he does not get his full salary on time - he usually get

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Your documents received and still waiting to be assessed after more then 7 days?

How long can SARS take? Sometimes it can take weeks or even a few months to make a final assessment so you need to be patient and wait for SARS.

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Meals fringe benefit for tax purposes?

I have to travel to clients a lot for work, the company has agreed to pay for my lunch when I am on the road during business hours, will this be a fringe benefi

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Am I in deep trouble can it be resolved?

Hi Tim. I made a mistake on my tax return with my independents, I said I have 34 independents instead of 4 silly mistake I know. SARS paid out money to me and no

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After an audit has been completed, will SARS use my 'original IT34A assessment'?

I recently filed my tax return through the eFiling thing and I was told by SARS that I am being audited. Because I am new to the eFiling thing, I submitted my r

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section 8C tax losses?

Hi what are section 8 c losses? For losses made on shares received from an employee benefit scheme in the company you work.

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How much must you earn to qualify for a tax refund?

How much must you earn to qualify for a tax return? In order to pay tax you would have to have earned above the threshold of R63 356 for the 2013 tax year. I

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R36000 annual income between 2005-2008

Do I need to file for taxes for 2005-2008 if my annual income was R36000? You would have to for the 2005 and 2006 tax years.

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Working for government. Tax deductions for eg stationary and courses that I have paid for myself?

I work for Gauteng Department of education. I am a Therapist and from time to time I buy my own stationary, therapy material and incentives for the children.

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Is there an expiry date of IRP5?

Do the IRP5 forms expires if yes when for this year? Your IRP5 can never expire, it is just a summary of all your payslips for the working year.

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Require clarity on tax returns for private individual who also owns a small business?

1) If you own a CC can you include the income and expenses of the CC with your personal tax return. Is there a cut off on the amount of turnover business?2) Mus

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Return - Data Submitted To ITS - what does this mean? I have not been asked for any documents?

Return - Data Submitted To ITS - what does this mean? I have not been asked for any documents? It means your return has been submitted to the relevant SARS o

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What is PAYE and how does it work?

What is PAYE and how does it work? PAYE is Pay-As-You-Earn and is deducted from your salary on a monthly basis by your employer as a payment of taxes to SARS

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Earning Oz dollars, living in SA, how do I get taxed?

Hi, I am an SA citizen, and I hold Australian permanent residency. I will be doing some research for an Australian University next year. I will be paid in Oz do

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Previous employer refuses to give IRP5 form, what can I do?

I requested an IRP5 form from my previous employer but was told that they could not help me as they had only registered at SARS a year after I left the company.

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Tax submition in review and are we noified of penalties or surprised?

Hi TaxTim, thank you for a great blog-site! I have a question, I have submitted my tax, also got the letter requesting the IRP5 as code 4102, PAYE credit of R30

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I earn a salary and pay tax as per usual, if I consult and receive other income, what is the tax tha

I receive a salary per month and pay my usual taxes. I am assisting a friend on a monthly basis with his business in my spare capacity. He pays me per month R4

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Can I claim MPS as a state doctor if I do extra private work earning me additional income?

I work as a salaried doctor in the state. I also however do some work in private so I need MPS. Can I deduct this and the laptop I bought to do this work? Unrel

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