Are interest on underpaid tax deductible? With other words interest paid to the Receiver for taxation underpaid. Can I include these interest as an expense in my current year. Are they deductible on my tax calculation.
Provident fund refunds: I need some clarity on this ASAP. The question Tim ask : Did you receive any pay-outs from your Pension or Provident fund (NOT a Retirement Annuity Fund) for any of the following reasons: fired; quit; retrenchment; cession of the fund; or withdrawal of the fund? This is NOT for pay-outs from retirement, death or ill-health. Do I put in the full claimed amount or only the amount that was paid to me. Here again Tim ask the question: Enter the amount received from the fund ...
Under the ring fencing section, it is asked if I earned rental income from residential properties. If I earned rental income from commercial properties, should I still answer "yes"? Or does ring fencing only apply to residential properties?
I received a payout from my pension fund (from my former employer) during the tax year. In the "Pension and Provident Fund Refunds" section, do I enter the gross or after tax amount received from the Pension Fund (this is under "Enter the amount received from the Fund")?
I own multiple rental properties but in the "Rental Income" section it only seems to cater for 1 property. This is only problematic for the building allowance section as I have 1 new building (i. E. Qualifies for a 20% allowance) and 1 old building (i. E. Qualifies for a 4% allowance); how do I enter both of these amounts or do I just enter it all together?
Under the "Retirement" section of the tax return on TaxTim, it says "Did you make monthly contributions to a Pension Fund, Retirement Annuity Fund or a Provident Fund OTHER THAN the contributions you already entered before?"
I am on a CTC and only contribute to a pension fund via my Employer. These contributions are therefore not reflected on my PAYE certificate. I have therefore not entered any contributions in the "PAYE 5 Employer Tax Certificate" section of TaxTim (referred to abov...