SARS E-Filing 2020/21

[Erohann]

Claimed WFH with my efilling on 2 July. Filed papers. Verification. Audit. Payout received 17 July.

Lack of clarity on progress and payout date after letter was received that everything is approved. Was just happy to wake up to the deposit sms

 

[Sehcaep]

Anyone knows if rental income has to be declared in both tax returns in case of marriage in community of property? I seem to have read something recently on this but can't find the link.

And then what about other income like interest, dividend - does that need to be declared in both tax returns?

jirre - I am getting very confused as to what penalty applies here if this is true.

Yes, you must declare the rental income in both tax returns. Interest must also be declared in full on both tax returns and SARS will work out the apportionment. Dividend is not taxable, although you must declare it even though it is tax free.

 

[modern10]

Claimed WFH with my efilling on 2 July. Filed papers. Verification. Audit. Payout received 17 July.

Lack of clarity on progress and payout date after letter was received that everything is approved. Was just happy to wake up to the deposit sms

So they didn't confirm payout was imminent or when audit was done?

 

[SupremeELITE69]

So they didn't confirm payout was imminent or when audit was done?

There seems to be a huge gap in communication and confirmations from SARS this year. I had to call them this morning to verify receipt of my documents which were uploaded on the 1st July 2021. So frustrating. Their default answer is 21 days....we get it SARS, all we are asking for is some feedback or some type of acknowledgement that whatever we have submitted has been received, right.

 

[Erohann]

So they didn't confirm payout was imminent or when audit was done?

They sent a letter saying "INCOME TAX VERIFICATION FINALISE - FINALISED WITHOUT CHANGES" on the 14th, but even today it still says refund on hold due to audit on the app (I did receive my refund on the 17th).

Had no comms about payment aside from my bank sms

 

[The_Mowgs]

I remember someone posted here regarding doing their own tax and not using a practitioner anymore.

What is the process of moving away from the practitioner? The person does not have the efiling password, only the practitioner.

 

[superskully]

You can't claim building insurance, but you can claim your life insurance (assurance) on the bond

Are you sure, this is what i found from SARS:
Insurance costs are generally not claimable for the following reasons:
• Bond insurance is normally a life insurance product and is specifically prohibited from being deducted,14 and is most likely capital in nature.
Link here
This states that bond insurance (which is essentially if you cant pay the bond in the event of death or whatever) is a life insurance cannot be claimed.
But cant find anything as yet on building insurance.

 

[Vuilhaas]

Are you sure, this is what i found from SARS:
Insurance costs are generally not claimable for the following reasons:
• Bond insurance is normally a life insurance product and is specifically prohibited from being deducted,14 and is most likely capital in nature.
Link here
This states that bond insurance (which is essentially if you cant pay the bond in the event of death or whatever) is a life insurance cannot be claimed.
But cant find anything as yet on building insurance.

Our work arranged an online webinar with a tax consultant and that dude listed it as one of the claims we could make. He specifically said that you can claim the life insurance and not the building insurance.

But now that you mention it, I can't actually find confirmation of that online :/

I'll query it with them

 

[Koosvanwyk]

Our work arranged an online webinar with a tax consultant and that dude listed it as one of the claims we could make. He specifically said that you can claim the life insurance and not the building insurance.

But now that you mention it, I can't actually find confirmation of that online :/

I'll query it with them

You should not be able to claim life insurance premiums. If you were able to claim the premiums then the payout, in the case of death, would also be taxable.

Edit : if the life insurance is through a pension fund this might be different, but I suppose this is not what is being referred to here

 

[Erohann]

You should not be able to claim life insurance premiums. If you were able to claim the premiums then the payout, in the case of death, would also be taxable.

Edit : if the life insurance is through a pension fund this might be different, but I suppose this is not what is being referred to here

Is life insurance not taxable? Estate tax?

 

[adoali]

I declared a loss on my CFD TRADING, the i got this message. i pray it wont take months before i can get my money.

 

[Sehcaep]

I remember someone posted here regarding doing their own tax and not using a practitioner anymore.

What is the process of moving away from the practitioner? The person does not have the efiling password, only the practitioner.

Is the person on the tax practitioner's profile? If so, the person can create his own efiling profile and request a tax transfer type.

 

[Crayons]

I declared a loss on my CFD TRADING, the i got this message. i pray it wont take months before i can get my money.View attachment 1110776

How did you enter the loss? As a business?

 

[Juanado]

Filed on 29 June with home office claim. Paid out today.

 

[SupremeELITE69]

Filed on 29 June with home office claim. Paid out today.

Did you receive a completion letter?

 

[Sehcaep]

Is life insurance not taxable? Estate tax?

If there is no beneficiary on the policy (lets say the beneficiary predeceased them), then the money goes to the estate. If there is a beneficiary, then the money goes to the beneficiary and no tax thereon. Hope I make sense.

 

[modern10]

Filed on 29 June with home office claim. Paid out today.

Was there verification and auditing? And how long did both take? Were you sent communication at each stage?

 

[adoali]

How did you enter the loss? As a business?

yes , as local business. Proceeds as stated on certificate provided by the broker is entered as income, then the cost of sales is also there on the broker certificate then the efiling calculate the loss. The only confusing thing is when efiling requires you to enter the source code for the loss.

 

[Crayons]

yes , as local business. Proceeds as stated on certificate provided by the broker is entered as income, then the cost of sales is also there on the broker certificate then the efiling calculate the loss. The only confusing thing is when efiling requires you to enter the source code for the loss.

As long as you're close it won't matter, SARS is one of those places that if you can't convince them, confuse them.

 

[MidnightZA]

When was the deadline for companies to upload our tax info to SARS?

My income tax info has not been populated on efiling yet and I haven't received a copy of my IRP5 yet. I have sent 2 requests to HR already in the last week, and no response yet

All other info has been populated correctly, its the first time my income tax is not populated and is holding up the process.

No idea, but I'm going to email them everyday next week till I get a response.

Alternatively, I'll have to drive 150kms to go to the head office and wait there till I get it

So after more than 2 weeks (and about 7 request) I finally received my IRP5 from the head office.

Next question, my ITR12 is still not populated with the IRP5 data. Do I wait for a day or 2 for it to update then refresh again. Or do I have to fill it in manually?