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Expenses/Claims Posts in Tax Q&A

Expenses/Claims Related Posts

I sold two vehicles and bought one new vehicle how will I go about it?

Posted 4 July 2017

During the coarse of this financial year I had two vehicles which I sold in December and bought one new vehicle. How will I go about it.

This query relates to question 3629 "Did you purchase the vehicle you use for business purposes?" in the Motor Vehicle Expenses section.

Other expenses incurred in the production of income

Posted 29 June 2017

On page 3 of the blue tax form, in the line "other expenses incurred in the production of income" I am entitled to deduct my contributions to an income protection policy. Where do I enter this amount on TaxTim?

This query relates to question 3883 "You are not subject to ring-fencing." in the Ring-fencing section.

On line tax return does not add up correctly?

Posted 29 June 2017

Hi, I have just completed your online tax return, but got stuck with the following problem: I have deductions for Provident Fund (N$33 906) and Retirement A/F (N$15 050) which add up to N$48 956. The online tax return add it up to N$40 000. Is there an explanation for this difference of N$8 956 when final computing of tax payable is done?

May I complete schedule 9 if property is registered in Close Corporation

Posted 27 June 2017

The property is registered in Close Corporation, may I claim

This query relates to question 3433 "Did you earn any rental income?" in the Rental Income section.

Determination of depreciation years or depreciation rate

Posted 26 June 2017

How do you determine the years of depreciation for a vehicle?

New car invoice can I attach it to my tax form. Do I have to pay each year for my tax to be complete

Posted 23 June 2017

Good morning I want to find out if I but a new car can I attached my invoice on my tax form. Secondly do I have to pay an amount each year for my tax to be completed

Loss of Income benefit contribution throughout the year

Posted 10 May 2017

Can I claim loss of income benefit payments contributed. I have a life policy and and recieved an certificate stating that I contributed X amount towards the loss of income benefit. How can I claim that amount for tax purposes?

As a consultant how can I deduct my work expenses?

Posted 15 March 2017

I am working as a consultant and recived a daily rate for the work I do and I want to know should I register as a sole proprietor so that I can have work related expense deductions such as fuel and equipment (eg. Vehicle) or must I register a cc ?

Can I claim home office expenses?

Posted 9 February 2017

I am a business owner and I spend the mornings at the business and attend to all administrative matters from my office at home during the afternoon. Can I claim pro-rata (based on floor space of the home office) water & electricity, telephone & insurance for my home as home office expenses?

Are interest on underpaid tax deductible?

Posted 19 July 2016

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.

Tax benefit for vehicle purchased on Instalment Sale Agreement

Posted 11 July 2016

Good day. I bought a brand new vehicle on 23 November 2015 on a Instalment Sale Agreement. I use my private vehicle for business purposes as well. Is there a tax benefit for me?

Provident fund payments and tax paid already

Posted 29 June 2016

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

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Farming invoices as part of my tax return

Posted 28 June 2016

I have a cattle brand number, can I submit farming invoices as part of my tax return?

Maintenance costs on rental property

Posted 27 June 2016

I have a rental property and incurred expenses to fix the plumbing. How do I treat this expense?

Travel allowance

Posted 23 June 2016

As part of my package, I have a portion structured as a travel allowance but when I used the TaxTim tool in did not prompt me to capture my business km's traveled for the year. Is this correct? Must I only capture it if I receive a vehicle allowance?

Subsistance allowance deduction

Posted 17 June 2016

If I want to include something as a deduction on the return, the subsistance allowance, where do I insert it?

Motor vehicle expenses in Schedule 19

Posted 16 June 2016

Schedule 19's Moter Vehicle exp-When the system has done the calculation for the amount to be claimed in X, I get a different amount that is carried forward on the actual schedule 3 and that amount agrees again with the bottom amount in schedule 19 where it says Total on the right hand side-bottom. Where does that amount comes from-as it does not agree with the X total on the same schedule (19).

Pension Fund, annual payment

Posted 16 June 2016

It was missed out to contribute to the Pension Fund for me on a monthly basis. Now, I still have the opportunity to pay the full amount applicable from 01/04/2015 to 29/02/2016. Does this still counts under the 2016 tax years declaration?

Owing too much tax?

Posted 14 June 2016

I want to know why I am owing so much tax on the return?

Withholding PAYE from motor vehicle allowances

Posted 13 June 2016

What is the guidance received from Inland Revenue with regards to the taxability of motor vehicle allowances (PAYE). Per Practice Note 3 of 2001 it says that for a bona fide allowance PAYE does not need to be withheld, but is this best practice and acceptable practice to Inland revenue?

When I receive a travel allowance, can I claim motor vehicle expenses on my tax return for 2016

Posted 13 June 2016

Can I claim motor vehicle expenses, fuel and oils and interest on installment sale when I was using the vehicle for business purposes? In addition, I received a travel allowance every month.

May I claim input VAT on deposits made?

Posted 10 June 2016

If I pay a deposit to a supplier in February and the Tax invoice is received in May, can I claim the input VAT in February? Or am I only allowed to claim the input VAT once the Tax invoice (dated May) was received. I know that on Output VAT (Sales) the Receiver argues: earlier of payment or Invoice. How is the case when I am purchasing?

Normally you don’t receive an invoice for a deposit.

Rental income from a second property.

Posted 10 June 2016

Am I a provisional taxpayer if I made a loss out of my additional property I'm renting out. And also what can I deduct as expenses from my rental income.

Why is it showing that I owe tax

Posted 9 June 2016

My tax return is done but I have to pay tax, why?

What would cause me to owe the Receiver of Revenue?

Posted 9 June 2016

What would Cause me to owe the Receiver of Revenue?
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