FAQ: What is the impact of Section 11(k) on me as a taxpayer?
Any contribution by an employer to a retirement fund for the benefit of the employee will be taxed as a fringe benefit in the hands of the employee. This will be prepopulated on the ITR12 from the IRP5 submitted by the employer. Total contributions to retirement funds (Pension, Provident & RAF) are deductible but limited […]
FAQ: What is remuneration?
Remuneration means any amount of income which is paid or is payable to any person by way of any salary, leave pay, wage, overtime pay, bonus, gratuity, commission, fee, emolument, pension, superannuation allowance, retiring allowance or stipend, whether in cash or otherwise and whether or not in respect of services rendered.
FAQ: What impact does a limited time override have on the Tax Compliance Status (TCS)?
An override implemented on your Tax Compliance Status will not change the status reflected on the ‘My Compliance Profile’, however when you apply for a TCS to receive a PIN or obtain a TCC, your overall compliance status will be reflected as ‘Compliant’. In addition, when a third party verifies your TCS, your status will […]
FAQ: How does SARS account for an approved Suspension of Payment when calculating the debt on ‘My Compliance Profile’?
At the moment the compliance balance on the ‘My Compliance Profile’ does not factor in approved amounts under a Suspension of Payment. Suspended amounts will therefore still reflect as debt on the ‘My Compliance Profile’. To rectify your compliance status under these circumstances, select ‘Challenge Status’. Here you are required to explain as clearly as […]
FAQ: I paid the debt owed but this does not reflect on my ‘My Compliance Profile’?
Payments made may take up to 72 hours to reflect on your ‘My Compliance Profile’.
FAQ: What should I do if I do not agree with the status reflected on the ‘My Compliance Profile (MCP)’?
If you do not agree with the compliance status displayed and according to your records you have paid all outstanding debt, filed all outstanding returns and you have already exhausted existing processes to address the non-compliances with SARS, then you may request SARS to re-evaluate your compliance status by selecting the Challenge Status button available […]
FAQ: How do I fix my compliance status?
Click on the Non-Compliance indicator and follow the steps to rectify your status.
FAQ: I have tax products linked to me on my ERC01/MCP but they do not belong to me?
Visit a SARS branch to request the removal of the tax product in question.
FAQ: All my tax products are not displayed on my ERC01/MCP?
If your ERC01 form or MCP does not display all the relevant tax types, you must make use of the ‘Merge’ functionality on eFiling.
FAQ: I cannot activate my ‘My Compliance Profile’?
In order to activate the ‘My Compliance Profile’ you must have the TCS user profile on your eFiling profile. Speak to your tax consultant/tax practitioner or eFiling administrator to request such rights.
