This is possible. How would we know if covid had not much impact on this and this was mainly due to emigration ?
businesstech.co.za
I imagine that you were selected for the SARS audit and they would have requested that you provide supporting documents. Going out on a limb here, maybe somehow the documentation your tax practitioner provided/uploaded (assuming that she did your taxes) gave an indication of crypto trading. Another option could be that SARS got the information from some kind of third party (they claim to have access to that types of information, don't know how much of it is true though). The next step would be to launch a SARS dispute and submit an NOO (notice of objection) - though I am sure your tax lady has this under control. Would be interesting to see the outcome.
Covid vs Emigration impact stats ?South Africa’s wealthy taxpayers are leaving in their thousands: CEO
South Africa’s tax base is steadily declining as more of the country’s skilled professionals look overseas for greener pastures, says Izak Smit, chief executive of the Professional Provident Society (PPS).
Emigration a red-flag for SA economy
The country has seen a sharp decline in the number of taxpayers earning R750,000 a year or more in the past two financial yearswww.businesslive.co.za
South Africa’s taxpayers are leaving in droves, but should expect changes in 2022, says expert
South Africa’s taxpayers are leaving in droves, but should expect changes in 2022, says expert It is looking increasingly likely that government will consider new measures for South Africans leaving the tax net in 2022.mybroadband.co.za
Yes, my tax lady is handling it all - I can't imagine that she submitted any crypto info related to my account - she seemed as surprised as me - In the next two weeks I have to again pass my 2022-02 provisional data onto her
businesstech.co.za
businesstech.co.za
They delay. So not sure worth it in future.My wife has job has converted to permanent WFH from the beginning of Dec 21. We dont have a home office yet. I am in the process clearing up one of the spare rooms (currently used as storage) to convert to an office. Currently she is working from a desk in our bedroom.
I have seen a lot of discussion regarding this but I never thought I would ever need to claim WFH expenses.
Firstly, is it worth it to claim? With all the admin and headache of getting audited etc.
How to claim work from home expenses for tax: SARS
The South African Revenue Services (SARS) says that workers are allowed to claim for home office expenses – but only under very specific circumstances.
How to claim ‘work from home’ expenses for tax in South Africa – according to SARS
The South African Revenue Services (SARS) says that workers are allowed to claim for home office expenses – but only under very specific circumstances.
Home Office Expenses | South African Revenue Service
What are the requirements for claiming home office expenses. Tax deduction for home office expenses is only allowed if the room is regularly and exclusively used for the purposes of the taxpayer’s trade e.g. employment and is specifically equipped for that purpose. The home office must be set up...www.sars.gov.za
That room I am planning to convert to an office is just over 10% of the property sqm. From what Ive been researching now, I can claim 10% proportion for certain expenses like: Bond interest, rates, levies, electricity? I looked at those ones since its easy to prove and its the major costs. Im not too concerned about the cost of cleaning, stationary etc
So if all of those combined are about R5000pm (not actual figure) then she can claim back R6000 (R5000 x 10% x 12) for that tax year?
I see you mentioned that she will be working from home permanently. But make sure that she is working from home longer than 6 months. So in this instance she only started Dec 2021 which still falls under the 28 Feb 2022 year end. So essentially she will only be able to claim the expenses for the year ended 28 Feb 2023.My wife has job has converted to permanent WFH from the beginning of Dec 21. We dont have a home office yet. I am in the process clearing up one of the spare rooms (currently used as storage) to convert to an office. Currently she is working from a desk in our bedroom.
I have seen a lot of discussion regarding this but I never thought I would ever need to claim WFH expenses.
Firstly, is it worth it to claim? With all the admin and headache of getting audited etc.
How to claim work from home expenses for tax: SARS
The South African Revenue Services (SARS) says that workers are allowed to claim for home office expenses – but only under very specific circumstances.
How to claim ‘work from home’ expenses for tax in South Africa – according to SARS
The South African Revenue Services (SARS) says that workers are allowed to claim for home office expenses – but only under very specific circumstances.
Home Office Expenses | South African Revenue Service
What are the requirements for claiming home office expenses. Tax deduction for home office expenses is only allowed if the room is regularly and exclusively used for the purposes of the taxpayer’s trade e.g. employment and is specifically equipped for that purpose. The home office must be set up...
That room I am planning to convert to an office is just over 10% of the property sqm. From what Ive been researching now, I can claim 10% proportion for certain expenses like: Bond interest, rates, levies, electricity? I looked at those ones since its easy to prove and its the major costs. Im not too concerned about the cost of cleaning, stationary etc
So if all of those combined are about R5000pm (not actual figure) then she can claim back R6000 (R5000 x 10% x 12) for that tax year?
Another item to be aware off is the capital gains implications. If you own your property there is a primary residence allowance when you sell your house. If you claim WFH this portion is no longer considered a primary residence and will be considered a capital gain.My wife has job has converted to permanent WFH from the beginning of Dec 21. We dont have a home office yet. I am in the process clearing up one of the spare rooms (currently used as storage) to convert to an office. Currently she is working from a desk in our bedroom.
I have seen a lot of discussion regarding this but I never thought I would ever need to claim WFH expenses.
Firstly, is it worth it to claim? With all the admin and headache of getting audited etc.
How to claim work from home expenses for tax: SARS
The South African Revenue Services (SARS) says that workers are allowed to claim for home office expenses – but only under very specific circumstances.
How to claim ‘work from home’ expenses for tax in South Africa – according to SARS
The South African Revenue Services (SARS) says that workers are allowed to claim for home office expenses – but only under very specific circumstances.
Home Office Expenses | South African Revenue Service
What are the requirements for claiming home office expenses. Tax deduction for home office expenses is only allowed if the room is regularly and exclusively used for the purposes of the taxpayer’s trade e.g. employment and is specifically equipped for that purpose. The home office must be set up...
That room I am planning to convert to an office is just over 10% of the property sqm. From what Ive been researching now, I can claim 10% proportion for certain expenses like: Bond interest, rates, levies, electricity? I looked at those ones since its easy to prove and its the major costs. Im not too concerned about the cost of cleaning, stationary etc
So if all of those combined are about R5000pm (not actual figure) then she can claim back R6000 (R5000 x 10% x 12) for that tax year?
What I suspect becauseMy wife's one was complete around the same date. They owe her a substantial refund, but still not a cent has come through.
Maybe MyBB should investigate whether SARS is broke
They seem broke. No communication for months.
Broke and broken
If you look at the assessment letter there should have been a deadline to make payment.