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Thread: How much refund will i get from SARS?

  1. #16
    Super Grandmaster TJ99's Avatar
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    Quote Originally Posted by Celine View Post
    they not idiotic threads..........some people genuinely don't understand tax. it's the same thing, i don't understand electrical engineering.
    Yeah... Not every citizen is required by law to be an engineer. You are required to pay taxes though. If you care so little about something that you are forced to spend lots of money on, that you can't even figure out the basics, you are indeed an idiot.
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  2. #17

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    Ok. So for eg lets say Joe has a salary of say R7000 gross per month (R84000).
    Started working 1st July 2013.

    How would this be worked out?

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  3. #18

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    Quote Originally Posted by Tariq786 View Post
    Ok. So for eg lets say Joe has a salary of say R7000 gross per month (R84000).
    Started working 1st July 2013.

    How would this be worked out?
    If he didn't have any other income then his tax for the 2014 year would be calculated as follow.
    Income = 7000*8=R56000

    Below R165000 so the entire amount is in the 18% bracket. R56,000 *18%=10,080, he will then get the primary rebate of R12,080 but limited to his 10,080.

    So his tax payable will be R0 (10,080-10,080). This is due to the fact that he is below the tax threshold of 67,111 for people below 65.

    His employee may deduct PAYE as if he was earning R7000 each month since March, however the PAYE deducted will be refunded from SARS when the filling season for the 2014 tax year starts.

  4. #19

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    Quote Originally Posted by borga View Post
    His employee may deduct PAYE as if he was earning R7000 each month since March, however the PAYE deducted will be refunded from SARS when the filling season for the 2014 tax year starts.
    I like this.

    Any new issues anybody having with SARS and personal tax submissions?

  5. #20
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    Quote Originally Posted by minty203 View Post
    I like this.

    Any new issues anybody having with SARS and personal tax submissions?
    My IRP5 info gets filled in automatically when I open my ITR12 on the sarsefiling site based on the information supplied to SARS by my employer. One issue that I noticed was that the pre-filled data did not include my medical aid tax credit rebate of about R5000. I don't know if this was just me, but worth double checking when you guys submit.
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  6. #21

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    Quote Originally Posted by borga View Post
    If he didn't have any other income then his tax for the 2014 year would be calculated as follow.
    Income = 7000*8=R56000

    Below R165000 so the entire amount is in the 18% bracket. R56,000 *18%=10,080, he will then get the primary rebate of R12,080 but limited to his 10,080.

    So his tax payable will be R0 (10,080-10,080). This is due to the fact that he is below the tax threshold of 67,111 for people below 65.

    His employee may deduct PAYE as if he was earning R7000 each month since March, however the PAYE deducted will be refunded from SARS when the filling season for the 2014 tax year starts.
    not all the tax will be refunded, only a portion will be.
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  7. #22

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    In that particular example, all of the tax that he paid will be refunded.

  8. #23

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    Quick question. My wife (beneficiary on my medical aid) had a blood test done in Feb 2013. Medical aid didn't cover completely so I had to pay part. However payment was only done in March. Can I claim this now or next year?

    Thanks

  9. #24

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    Quote Originally Posted by peeryus View Post
    Quick question. My wife (beneficiary on my medical aid) had a blood test done in Feb 2013. Medical aid didn't cover completely so I had to pay part. However payment was only done in March. Can I claim this now or next year?

    Thanks
    If the invoice date is in the date range 01/03/2012 and 28/02/2013. Submit it for your 2013 tax.

    This is my understanding.

  10. #25

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    Well , about caring about tax , I only "woke up" this year . Now after a few weeks of research if you may say , I have a fair grasp of these stuff . I also realised that there is money owed back to me since Im halfway deaf . Never thought a lack of hearing could be a blessing . Well anyway , went to Sars and they fixed up my taxes up to3 years back . Must say it was a highly paying excersize . And its bonus month on the company side as well . Woottttt , just thought Id share this

  11. #26

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    PS minty .... you should be checking your dates set on your account . It says you posted before I was even born . Mods maybe update the coding ?

  12. #27

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    Quote Originally Posted by minty203 View Post
    If the invoice date is in the date range 01/03/2012 and 28/02/2013. Submit it for your 2013 tax.

    This is my understanding.
    Thanks dude. Submitted it and got my refund already.

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