Tips to pay less tax - and to get a refund from Sars - when working from home
If you’re a full-time employee working from home, you can now claim from Sars for your home-office expenses.
You must work from home for at least half of the tax year.
You must use the home office for work only.
You can claim for part of the interest on your bond or home rental, rates and taxes, water and electricity apportioned and based on the office space in relation to the rest of the house.
You can claim for stationery and data as well as for wear and tear on office equipment.
“If you can get a letter from your employer saying you worked from home for 50% of the time, you can start bothering with the rest of the admin,” says Matthew Haddon, Director at tax consultancy Simple Tax.
“You should get your refund within 48 hours,” he says.
The Money Show’s Bruce Whitfield interviewed Haddon.
The faster you respond the faster they sign off…Matthew Haddon, Director - Simple Tax
If you tell them you spent the money, you should be able to prove it.Matthew Haddon, Director - Simple Tax
For more detail, listen to the interview in the audio below.
The Money Show’s Bruce Whitfield interviews Basil Sgourdos, CFO at Naspers.Read More
The Money Show’s Bruce Whitfield interviews Leon Lourens, CEO at Pepkor Holdings.Read More
The Money Show’s Bruce Whitfield interviews Dr Richard Friedland, CEO at Netcare.Read More
A listener asks petrolhead Ciro de Siena which small car (e.g. VW Up, Suzuki Celerio, Toyota Aygo) gets his stamp of approval.Read More
Personal finance advisor Warren Ingram on ensuring you don’t run out of money before you run out of life.Read More
Banks are hungry for 1st-time buyers right now and interest rates have never been this low, says property entrepreneur Grant Smee.Read More
The deadline to submit is approaching fast. "Over 70% of taxpayers have already filed their returns," says Marcia Ujobolo of Sars.Read More
In the market for a new car? There are deals galore, says motoring journalist Ciro de Siena.Read More
A R1 million home loan costs about R7800 per month right now. What is your rent? What are the pros and cons of buying?Read More
Even banks and insurers are in on the consumerist orgy, says Certified Financial Planner (CFP) Gerald Mwandiambira.Read More
Utterly transparent about its spending and donors; the Solidarity Fund is a truly heroic effort in a nation weary of corruption.Read More
A second wave of Covid-19 infections is taking hold in the province. Should Govt lock down? Are people willing to self-regulate?Read More
Exhausted doctors must choose who lives and who dies while Eastern Cape residents drink and party, says Nomazima Nkosi.Read More
A second wave of Covid-19 infections is now well established in parts of SA, says Piet Streicher (Pandemic Data and Analytics).Read More
"We’re tired but we don’t want to end up like Europe or the USA," says Dr Miriam Altman. "We just can’t afford that."Read More
A traumatised nurse explains how some hospitalised Covid-19 patients cling – to the death – to the belief it’s all a hoax.Read More
It’s summer; we’re lucky. Avoid indoor gatherings, or keep them small and well-ventilated, suggests Prof Shabir Madhi.Read More
More people are being infected and hospitalised right now in the US than at any time since the pandemic began.Read More
Pfizer is on the verge of cracking a Covid-19 vaccine, says Dr Glenda Gray, CEO at Medical Research Council.Read More