Tax Q&A
Signing bonus vs relocation allowance tax implications?
I just got a job offer in CPT and currently in DBN and the company is giving me a signing bonus R100K. what are the tax implications of signing bonus compare to
Read moreAre rates paid on property tax deductible?
How do the municipal Rates affect my tax status? I own a small flat and I pay Rates to the municipality every month. However, my City of Johannesburg statement d
Read moreIs foreign exchange taxable?
I live and pay tax in Hong Kong. I want to send R1mil to SA to pay into a bond. I don't want SARS to take any of the money. Do they have any right to tax me aga
Read moreI have unpaid taxes I need to settle with SARS.
I owe SARS unpaid assessed VAT which is accumulating interest and penalties. It has been almost 10 years and I received no correspondence from them concerning t
Read morePenalties on undeclared offshore property?
If an offshore property was transferred into your name in 2009 as a gift from an overseas family member, and you never declared it to SARS or SARB, what type of
Read moreDoes the Tax rebate apply to Medical Insurance?
Will I still get the monthly tax rebate if I join a Medical Insurance and not a Medical Aid? Ask the medical insurance company if they are registered in term
Read moreI need a copy of my IRP5?
I don't have a copy of my IRP5, where else can I get one and be able to print it? You need to ask your employer to provide you with the IRP5.
Read moreWhat are recurring SARS penalties?
What are recurring SARS penalties? The are penalties for something which hasn't been resolved yet such as non-submission of tax returns. SARS will continue t
Read moreHow soon will I get paid after receiving the second ITA34 assessment?
How soon will I get my rebate after receiving the second ITA34 assessment? You should receive your refund within a few days after receiving the second assess
Read moreWhat goes under capital allowances on the ITR12 - Income Tax Return
What goes under capital allowances? This is if you have write offs for items such as buildings or not equipment used for manufacturing in the process of your
Read moreNotice Pay tax payable?
How much does a person get taxed on your notice pay? You will be taxed according to the SARS tax rates 2014 however when you submit a return you may receive
Read moreHow soon after the second receiving the second ITA34 will I get paid?
How soon after I received the second ITA34 assessment will I get paid? 2-3 days if you are not required to submit supporting documentation.
Read moreAm I owed a refund if my second ITA34 shows an amount of R0 and the statement of account is -R14 000
What does it mean if my first ITA34 showed an amount of R-14000 and SARS then requested additional documents which I submitted. They then sent a second ITA34 wh
Read moreCan I claim travel expenses for unpaid charity work?
I work for a software company three days a week and on the other two days I provide unpaid help to various charities. Am I able to deduct the travelling expense
Read moreRental income - offsetting expenses for tax purposes?
We only managed to get our first tenant from 1 October. Do we accrue only the expenses - interest on bond, levies, rates, etc. - from 1 October, or for the enti
Read moreWhat needs to be put on the dispute form?
What do you need to put on your dispute form as I made an error with my income on my tax return and now I have been audited. You can click on the 'request co
Read moreWhat is the tax on performance bonus?
If I earn R20 000 per month and receive a performance bonus of R10 000, how will my tax be calculated? Please use our SARS income tax calculator to determin
Read moreResubmitting of tax?
I sub-letted my SARS tax return about 4 weeks ago can I resubmit . Why do you wish to resubmit? A person in my company has a lower position than me has no
Read moreWhat documentation is required to show income and expenditures from rental income?
I recieve additional income from rental. I have an agreement with my tenants that they pay a percentage of the electricity and rates bill, the ADSL bill and the
Read morePersonal tax of small business owners?
Hi Tim. I have a trading business registered as a Pty Ltd that I started this year. The company only makes enough to cover its costs as it is still in its start
Read moreCan I claim back expenses against PAYE that relate to an income I have not yet received?
Thank you very much making this forum available to us. I work as a salaried software developer 160 hours a month, I earn a salary and pay PAYE. I also work at h
Read moreIs epilepsy considered a disability?
I've been told that Epilepsy is classified as a disability. Please advise if I should reflect this on my return? Yes, but in order to take advantage of
Read moreWhat is the periods in the year of assesment and the number of periods worked ?
How would you determine the Periods in the year of assessment and the number of periods worked if this amount is not stated. However the period that the individ
Read moreWhat is an IRP3?
What is an IRP3 An IRP3 is a a directive from SARS saying exactly how much tax is taken off any income or capital amount from a fund before the rest is paid
Read moreI need to know what type of tax return I should do and why?
I need to do my income tax returns but I am unsure weather I should do provisional Tax returns IRP6 or ITR12. I am Member and Director in multiple companies and
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