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.
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?
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?
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 ?
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? 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 ...
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?
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).
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?
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?
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.