SARS: What can I claim for?

Posted on: April 4, 2012 by admin

There are many theories and myths about exactly what kinds of travel you can claim for when filing your tax return with SARS. Many of them may have been correct at one time, but due to the changing laws and amendments, have fallen away. The following is some useful advice from Johan Swart, tax manager at one of the largest firms in South Africa, Legal & Tax, first posted on businesslive.co.za (a Times South Africa affiliate):   South Africa's tax laws make provision for you to claim a deduction for the use of your private vehicle to fulfill work tasks, but doing so is no longer as straightforward as it was.   To be able to claim travel expenses you must receive a travel allowance or you must earn most of your income in the form of commission.   In the past, you could simply use your odometer readings at the start and close of the...

E-Tolls: what are we going to sign up for?

Posted on: March 29, 2012 by admin

The E-Tag debate in South Africa is heating up, specifically within Gauteng where the toll-roads are to be set up, with many road users saying that they will refuse to register for the system as it is unfair for many reasons.   The terms set by SANRAL (The South African National Roads Agency Limited) are vague in most places and highlights some of the biggest issues in others. For instance, one clause in the terms and conditions says that SANRAL will have the right to request personal information from any institution where the user has an account. While SANRAL have stated that this privilege will not be abused, many users believe this to be an invasion of their privacy.   SANRAL’s terms also state that their ‘information is correct unless proven otherwise’. This means that any extra costs added onto your account due to a system error, technical fault or any other error, must...

How to Register as a Taxpayer with SARS

Posted on: March 4, 2012 by admin

Being a tax payer seems more complicated on paper than it really is. A lot of people end up making excuses when it comes time for filing returns or registering. However, the registration process is really not as difficult as it is made out to be.

 

For individuals who qualify for tax for the first time, you will need to register for a tax number by completing a First Time Registration Form, or IT 77 form. Once you have completed the form, hand it in at your closest SARS branch.

 

Along with the IT 77 form, you will need to include a certified copy of your ID or Passport (Drivers Licenses will not be accepted), your personal banking details by way of either an original letter from your bank, confirming the details, a cancelled cheque, or a certified copy of...

How to save tax money

Posted on: February 6, 2012 by admin

Keeping your tax return in line can sometimes be a big task. However it is possible to save quite a lot of money if you do it properly.

How to keep a logbook for SARS | Tax Return

Posted on: January 17, 2012 by admin

We all dread that time of the year when the Taxman comes for a visit and we need to scurry around and sort out tax returns.

How to make the most of your travel claims: keeping a SARS compliant log book

Posted on: January 11, 2012 by admin

Do you know what travel expenses you can and cannot claim? Do you know when or when not to use a logbook? Find out how to make the most of your travel expenses.