SARS E-Filing 2016

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Hello. Suppose I should start working at my tax returns rather sooner than later. Still waiting for my IRP5 though.

I have a question regarding rental income. I can't find more information on rental income on the SARS website. Can anyone assist with a link?

Another thing: our rental property is registered in my wife's and my name. Rent however was paid into my account. My wife is on a lower income bracket than me. Can we put the rent on her tax returns or is this just looking for trouble?
 
Friedpet said:
Hello. Suppose I should start working at my tax returns rather sooner than later. Still waiting for my IRP5 though.

I have a question regarding rental income. I can't find more information on rental income on the SARS website. Can anyone assist with a link?

Another thing: our rental property is registered in my wife's and my name. Rent however was paid into my account. My wife is on a lower income bracket than me. Can we put the rent on her tax returns or is this just looking for trouble?
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Depends in who's name the rental agreement is. My wife and I was in a similar position. When we changed tenants, we let the new tenant sign the contract with my wife. Apparently I might get flagged for an audit this year as there won't be any rental income as in previous years.
 
Pakka said:
Depends in who's name the rental agreement is. My wife and I was in a similar position. When we changed tenants, we let the new tenant sign the contract with my wife. Apparently I might get flagged for an audit this year as there won't be any rental income as in previous years.
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Actually it depends on who owns the house and the percentage split of the ownership.

If the property is owned by both partners equally, any income and expenses derived from it accrues to them equally irrespective of who received the income or paid for the expense. You will declare the total income and expenses on your tax return and indicate the ownership percentage split. You will receive a unique identifier for your next return. This identifier number will be on your assessment.
 
signates said:
Actually it depends on who owns the house and the percentage split of the ownership.

If the property is owned by both partners equally, any income and expenses derived from it accrues to them equally irrespective of who received the income or paid for the expense. You will declare the total income and expenses on your tax return and indicate the ownership percentage split. You will receive a unique identifier for your next return. This identifier number will be on your assessment.
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Thank you, I did not know that.
 
Friedpet said:
Hello. Suppose I should start working at my tax returns rather sooner than later. Still waiting for my IRP5 though.

I have a question regarding rental income. I can't find more information on rental income on the SARS website. Can anyone assist with a link?

Another thing: our rental property is registered in my wife's and my name. Rent however was paid into my account. My wife is on a lower income bracket than me. Can we put the rent on her tax returns or is this just looking for trouble?
Click to expand...

http://www.sars.gov.za/TaxTypes/PIT/Pages/Tax-on-rental-income.aspx
 
signates said:
Actually it depends on who owns the house and the percentage split of the ownership.

If the property is owned by both partners equally, any income and expenses derived from it accrues to them equally irrespective of who received the income or paid for the expense. You will declare the total income and expenses on your tax return and indicate the ownership percentage split. You will receive a unique identifier for your next return. This identifier number will be on your assessment.
Click to expand...

Thank you for that advice.

w@nted said:
http://www.sars.gov.za/TaxTypes/PIT/Pages/Tax-on-rental-income.aspx
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Thank you. I tried to bookmark, only to see that it's already bookmarked :p
 
efiling and FNB Share Saver

Hi guys ...

I got my FNB dividends information but with no source code.

And I tried looking to where to put that in my efiling online.

After a few hours I gave up.

I got the tax free (share saver) section easily, but the section where to put normal dividends

Can anyone maybe help who is a tax guru please
 
zerocool2009 said:
Hi guys ...

I got my FNB dividends information but with no source code.

And I tried looking to where to put that in my efiling online.

After a few hours I gave up.

I got the tax free (share saver) section easily, but the section where to put normal dividends

Can anyone maybe help who is a tax guru please
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Your dividends were already taxed, that's why no code...

That's why its called Dividend Withholding Tax, it's been withheld from you by the provider and paid to SARS.
 
zerocool2009 said:
Ok ... so I don't need to specify that in my tax ?
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Nope, just interest and REITS (property fund payouts) need to be put into their field if received, for example I earn both interest and REITS in my Stanlib Property Income Fund (in my RA, so don't have to put those in my efiling, but an example)
 
Doing my first efiling under my new job. The job has me driving a lot so I built up about 30 000 km for this tax season. We are given a petrol card but are taxed every month.

Can I expect anything back when doing the e filing ?
 
A question regarding an investment. Momentum sold and bought shares, and I got a IT3(b) and (c) document.

Must that be declared ? That is question 1

Then from Satrix I got a foreign Dividend paper with sars source code 4216. That amount is less than R50.

Question 2 : Declare that ?
 
zerocool2009 said:
A question regarding an investment. Momentum sold and bought shares, and I got a IT3(b) and (c) document.

Must that be declared ? That is question 1

Then from Satrix I got a foreign Dividend paper with sars source code 4216. That amount is less than R50.

Question 2 : Declare that ?
Click to expand...

You should receive a letter indicating the capital gain (or loss) for the selling of shares. Thus, yes, you need to declare it.

SATRIX. Foreign Dividends. Yes, there is a place on the return to add it.
 
creeper said:
You should receive a letter indicating the capital gain (or loss) for the selling of shares. Thus, yes, you need to declare it.

SATRIX. Foreign Dividends. Yes, there is a place on the return to add it.
Click to expand...

The Satrix forum gives local interest (4201) and foreign dividends (4216). I know by now, add all the relevant numbers up and just put it in where needed.
 
creeper said:
You should receive a letter indicating the capital gain (or loss) for the selling of shares. Thus, yes, you need to declare it.

SATRIX. Foreign Dividends. Yes, there is a place on the return to add it.
Click to expand...

And if the new shares bought is making a profit, must I leave that totally ?

Sorry for all the questions regarding dividends .... My tax was usually easy with only interest that was added... But with all the documents coming in (I don't know what where who). So I am trying to figure it out
 
xcaliber said:
Doing my first efiling under my new job. The job has me driving a lot so I built up about 30 000 km for this tax season. We are given a petrol card but are taxed every month.

Can I expect anything back when doing the e filing ?
Click to expand...
As far as I know yes. Just insert vehicle details, cost price of vehicle, opening and closing km and business km driven for the financial year. With 30 000km it should be hefty amount you get back.

Hope you kept a logbook seeing as they will probably ask you to submit it for verification.
 
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