Ok thanks, it sounds like a plan.Originally Posted by Dave A
Do you know if you have to pay more this way or anything
Ok thanks, it sounds like a plan.
Do you know if you have to pay more this way or anything
Last edited by Dave A; 26-Apr-10 at 12:23 PM.
Provisional Tax and PAYE alike are not really taxes in themselves, but prepayments towards your Income Tax, but they help to relieve you of the burden come end of assessment year. At the end of the day, you still pay the same amount calculated per the tax tables.
BTW- in terms of your penalties, you should have filed a Notice of Objection, but that you can only do within 30 days of receiving the assessment. You must remember just because SARS say you owe them doesn't mean they're always right. They work on assumptions in cases like those and if you don't know the facts, you will end up paying more than you should.
Last edited by Dave A; 26-Apr-10 at 12:23 PM.
Hi i am a Government employee and would like to find out if there are any i can claim back on my tax.I am building at my house and paying vat on every thing.What can the normal guy on the street claim for SARS?
Hi Pilatus, unfortunately for you, as an employee you cannot claim anything on VAT.
You must be in a trade and registered for VAT to claim input VAT.
Even if you were in trade, you still wouldn't be able to claim any VAT on your house as it is for personal use and even if you were to use it for business purposes, you still wouldn't be able to claim any VAT unless if it was an industrial building...
Tax is crazy huh?
Does an Independent Contractor get Substance and Travel Allowance?
From a tax point of view, by my understanding you can claim actual costs incurred in the generation of income.
Allowances are largely for employees, although there are exceptions. For example, if you attend a conference overseas for business purposes you may claim a daily subsistence allowance.
Participation is voluntary.
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From a tax point of view, by my understanding you can claim actual costs incurred in the generation of income.
Allowances are largely for employees, although there are exceptions. For example, if you attend a conference overseas for business purposes you may claim a daily subsistence allowance.
Hi there
REALLY HOPE YOU CAN ASSIST ME ON THIS
I currently work at a school doing teaching, but after hours I do private work as a physio for the disabled children for a maximum of 2 hours a day.
I have bought my own equipment and using one of the schools rooms to do my practice.
What I need to make 100% sure about is what tax I am liable to pay? I earn an income from the school (salary = R9500 p/m) and an income from my practice ( roughly R4000 p/m).
Do pay seperate tax per income or must I combine the two incomes?
Secondly the income from the practice, at what tax rate must I pay it, or since its only
R48,000 p/y do I even have to pay tax on it?
Another thing is, can I charge VAT on the practice invoices and how would I go about that?
Can I claim back for the equipment bought?
Please can someone urgently assist me on this. It would be highly appreciated. Thanks
Hi, My problem is with the sarsefiling site.I accidentally ran my mouse over request for historic data on the provision tax which I had returned last year. this somehow saved as version 2 and is sitting as saved not filed. I am concerned as this has a figure in that was paid last year and is incorrect for this year. I have today submitted my correct provisional tax for 2012-1 but I cannot remove the saved one which is on last years form (last years date) but showing as due 25.11.2011.
RETURN TYPE STATUS DATE DECLARED AMOUNT VERSION LAST UPDATED BY
IRP6 Filed through eFiling 2010/08/26 3557.46 version1
IRP6 Saved 2011/08/02 3557.46 version 2
I have contacted SARS 3 times and been given 3 different answers, none of which will work. can anyone help please?
Good morning Itai
I am interested in property investment and would like to purchase property to rent out. A standard deal would include Rates & taxes, Levies, and my bond repayment as expenses and then the rent as income. If an example deal looks as follows:
Bond repayment = R7100
R&T = R300
Levies = R1320
Rental income = R7200
Cash flow = - R1520
How would tax work on this, will any of this be tax deductible? Would there be any benefits from a tax point of view or will it only stay a loss?
Thank you
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