Top tip: Save some of your money in an RA & you can claim that back with a tax refund. Medical aid too!
@salomechigubu53603 жыл бұрын
Please explain this.
@Ofentse.M.G.B.L3 жыл бұрын
Good day Watt, Could you please explain more on this requirement. What is the procedure? My Retirement Benefit is R2000. 00
@QuentinWatt3 жыл бұрын
Good video quality by the way. 👍
@AndreBothmaTax3 жыл бұрын
Thanks Quentin!
@amanjumna3 жыл бұрын
Great information for working from home. Thanks.
@marelafragrances7847 Жыл бұрын
Thank you
@shortsandquizzes1640 Жыл бұрын
great video
@AndreBothmaTax11 ай бұрын
Thanks
@allieubisse4702 жыл бұрын
Thanks
@thomaszondi2133 жыл бұрын
Thanks for this information 👍👌🙏🙂
@boitumelo82913 жыл бұрын
Can I also claim “rent” even though the company has allocated working premises but I choose to strictly work from home?... Great video quality by the way
@AndreBothmaTax3 жыл бұрын
As long as you mainly work from home, this shouldn't be a problem. SARS however might ask a letter from your employer that confirms that you mainly work from home.
@mondlidlamini223 жыл бұрын
Hey Andre... Super helpful channel. Under travel allowance. For business and private travel. What if you are working from home? And travel to a business meeting... Which is business and which is private?
@QuentinWatt3 жыл бұрын
If you work from home you can claim back “rent” from your “office” Standard practice is to measure out your office square meters. Then calculate the cost per square meter of your rent or bond and then you can claim that back. For example: If your house is 45square meters and your lounge “office” 15squares. And your rent is R10k. That means 10k / 45 squares = R222 per square meter. If your lounge/office is 15squares then R222 x 15 = R3330. and thats what you claim back.
@QuentinWatt3 жыл бұрын
That’s a slightly bigger saving than petrol to a business meeting 😝 and easier to work out since you don’t need a log book
@AndreBothmaTax3 жыл бұрын
I would say that going from home to business meeting and back is business km
@mondlidlamini223 жыл бұрын
@@AndreBothmaTax Thank you.
@fastpoizon3 жыл бұрын
@@QuentinWatt Hi Quentin - would this then be under 'Home Office Expenses"
@shanemeder13 жыл бұрын
Hi Andre. Very clear video and makes the process easier to understand. I worked 90% of the year at home due to covid, I'm not a commission worker. I installed a solar system and battery back up due to all black outs. Could I claim depreciation on the expense and if yes how many years would I be able to claim for it? Thanks
@nozipho80413 жыл бұрын
Thank you for this video
@AndreBothmaTax11 ай бұрын
Pleasure
@dougf70973 жыл бұрын
I have just been watching some of your videos - thank you. Slowly and simply as you have, has helped me a lot! As a teacher working from home during lockdown (we continued classes online) required: a) staying and operating from home. b) the purchase of hardware (graphics tablet) and software (screen recording and editing) c) extensively dependent on a personal computer and internet. Are these regarded as deductions for that period? Are hardware tools (like the computer & graphics tablet) regarded as tools of the trade whether on lockdown or not?
@fikilemkhize57763 жыл бұрын
Thank you for the information. I also heard you can reduce your tax by declaring things like groceries, that way you only pay vat for food. That way, you won't be taxed twice for food, first with income tax, then with VAT. I also heard that you get reductions depending on the number of dependents you have. Lastly, I heard that you may use school fees to reduce tax. You get your employer to pay the fees using your money before it is taxed. How true is all of this? And how do you go about declaring all of this
@AndreBothmaTax3 жыл бұрын
You can't claim groceries as it's not a legitimate trade expense for employees. For medical aid tax credits, the more dependent you have, the bigger rebate you get. You can get a deduction for school fees, but it's dependent on your employer.
@dubesamaita95733 жыл бұрын
Hie andre.thanx for the vid. Want to ask how if a person should declare tax on diy stocks if you are selling occasionally on an online platform but not withdrawing .thanx
@AndreBothmaTax3 жыл бұрын
The online platform should issue you with an IT3b or IT3c document. That will determine whether you must declare any tax in the sale of shares
@dubesamaita95733 жыл бұрын
@@AndreBothmaTax thank you very much.
@jenvinlouis30583 жыл бұрын
Hi sir, did you make a video showing how to claim from travel expenses on the app. I have a company car as I am a regional at work. On my payslip I am taxed more and was explained that I can claim the cash back from SARS. Please advise how exactly I can do this on the efilling system.
@Khwezi_nthoke Жыл бұрын
Good morning What about donation to your children and spouse?
@AndreBothmaTax11 ай бұрын
Donations to family members are not tax deductible.
@refilweledwaba39182 жыл бұрын
Hi Andre , hope you can assist and pass your knowledge concerning my case,I am permanently employed and also an independent contract at a certain company ,so my issue is since ive started earning commission at this company my tax i now started owing SARS, so what i would like to findout is how many percent should be i be earning as an IC ,so to be able to claim expenses?
@AndreBothmaTax11 ай бұрын
When your commission (code 3606) or independent contracting (code 3616) is more than 50% of your taxable income, you can claim business related expenses.
@theresamarais26143 жыл бұрын
Can you still deduct for medical expenses if you do not have a medical aid but pay out of pocket for all your medical expenses.
@adnenefhima2801 Жыл бұрын
As a foreigner can we deduct the cost of traveling home ones a year ?
@AndreBothmaTax11 ай бұрын
No, unless the travel is specifically for business purposes.
@ameercader3 жыл бұрын
Any advice how best to reduce tax as a sole trader
@joshuabuzzbeetheartist85162 жыл бұрын
Hi if I was a temp for 9 months does tax still work as an employee
@AndreBothmaTax11 ай бұрын
It depends whether the employer deducted PAYE
@akshaynarshi8272 жыл бұрын
Any tax deductions for a person with no medical aid?
@projfocusptyltd44303 жыл бұрын
Can an employee, deduct from his taxable income an amount the employer's contributed to his pension fund ( code 4472), and the amount in code 3817