Questions to ask AI TAXMAN

Cut and paste these questions into the AI TAXMAN chat box

QUESTION

I received a verification letter from SARS, but by the nature of further queries I suspect SARS are conducting an audit under the guise of a verification. Can you help draft a letter expressing this concern.

QUESTION

How can I formally apply to SARS for a waiver of the penalty imposed for underestimating my provisional tax.

QUESTION

What should I write in a letter to respond to the Commissioner’s increase in my provisional tax estimate under Paragraph 19(3) of Schedule 4?

QUESTION:

How do I structure a letter requesting the reason for a declined internal review of SARS's decision to deny my request to reduce the increased provisional tax estimate?"

QUESTION.

Please write a letter to formally dispute the outcome of a recent verification conducted by SARS.

Addition question What should the taxpayer do if SARS ignores or declines our letter on the disagreement with the verifications results?

Additional question lodge an objection to the verification findings.\

QUESTION

My client requires more time to submit an objection. Write a letter to SARS to grant an extension of 60 days

QUESTION

Can you provide a letter to contest the timing of an assessment in relation to the prescription period following an ADR process?"

QUESTION

Write a letter as follows to SARS. my taxpayer client is receiving a verification letter every single month for the VAT return. The taxpayer is totally compliant and can support every input claim and output amount. I would appreciate it if a senior Sars official would intervene.

add to the letter the fact that the cost burden of supplying this information to SARS has become costly. Also indicate the sections of the TAA that come into play.

QUESTION

Here are the facts. I received an additional assessment without reasons being given. The taxpayer is a trust and revalues its properties annually which are used as facilities to the group the trust belongs to. The assessment was issued on 15 December when everyone was on leave and the documents were misplaced by staff in the office who never advised the Tax Practitioner. The 80 days for filing an objection has well past. The additional assessment reflects that the property expenses were reversed adding some R250,000 to the tax liability. The TP subsequently established that it was because SARS believes that the rental rates should be based on the revalued property rates. The rents are based on the cost of the property. There is no basis to reverse the rentals in terms of the law. Write to SARS for condonation and an objection to reverse the expenditure.

Add the following to the letter. The assessment was issued in December when no one was in the office and was then misplaced in a pile of paperwork. when the papers were found the process for asking for a reason and objection were not open on the SARS eFiling system.

Add the following. SARS only attacked this method of the revaluation in 2019 and did not do it before 2019 and in the years after 2019. In the legal explanation say revaluations of property are unrealised profit and cannot be tax. They can only on a resale be taxed as capital gains.

Also Say the additional assessment was issued in non-business days in December.

QUESTION

When can the taxpayer make a PAJA request?

QUESTION

Explain the difference between a disability and an impairment. Do this calculation to explain the difference between the if the income is 1000000 and the medical is 20000 per annum

QUESTION

On an additional assessment the reason given by SARS "ASSESSMENT BASED ON INFORMATION AVAILABLE TO SARS - TURNOVER/SALES UNDER DECLARED" write a letter to the effect that the reason is not satisfactory.

QUESTION

If I sell my house and use a portion for business how do I calculation the capital gain?

QUESTION

Do you have details on the s24c allowance?

8 December 2024

Questions on interpretation notes.

### Interpretation Note 78 Allowance for Future Expenditure on Contracts

1. What criteria must be met for a taxpayer to claim an allowance for future expenditure on contracts?

2. How is the allowance for future expenditure on contracts calculated?

3. What types of contracts qualify for the allowance under Interpretation Note 78?

4. Are there any limitations on the amount of allowance that can be claimed for future expenditure on contracts?

5. How does Interpretation Note 78 define "future expenditure" in the context of contracts?

### Interpretation Note 15 SARS's Discretion in Allowing Late Objections or Appeals

1. Under what circumstances can SARS exercise discretion to allow a late objection or appeal?

2. What factors does SARS consider when deciding to allow a late objection or appeal?

3. How does Interpretation Note 15 guide taxpayers in submitting a late objection or appeal?

4. What is the process for applying for a late objection or appeal according to Interpretation Note 15?

5. Are there any specific time limits within which a late objection or appeal must be submitted?

### Interpretation Note 47 Wear-and-Tear or Depreciation Allowance

1. What assets qualify for the wear-and-tear or depreciation allowance under Interpretation Note 47?

2. How is the wear-and-tear allowance calculated for different types of assets?

3. What is the difference between wear-and-tear and depreciation as per Interpretation Note 47?

4. Are there any specific record-keeping requirements for claiming wear-and-tear allowances?

5. How does Interpretation Note 47 address the treatment of assets that are disposed of before being fully depreciated?

### Interpretation Note 9 Small Business Corporations

1. What are the qualifying criteria for a company to be classified as a Small Business Corporation?

2. How does Interpretation Note 9 define the tax benefits available to Small Business Corporations?

3. What are the turnover limits for a company to qualify as a Small Business Corporation?

4. Are there any specific exclusions or disqualifications for Small Business Corporation status?

5. How does Interpretation Note 9 guide the calculation of taxable income for Small Business Corporations?

### Interpretation Note 105 Deductions in Respect of Buildings Used by Hotelkeepers

1. What types of buildings qualify for deductions under Interpretation Note 105?

2. How is the deduction for buildings used by hotelkeepers calculated?

3. Are there any specific conditions that must be met to claim deductions for hotel buildings?

4. How does Interpretation Note 105 define "hotelkeepers" for the purpose of deductions?

5. What is the impact of renovations or improvements on the deduction for hotel buildings?

### Interpretation Note 60 Loss on Disposal of Depreciable Assets

1. How is a loss on the disposal of depreciable assets determined according to Interpretation Note 60?

2. What conditions must be met for a loss on disposal to be deductible?

3. Are there any specific types of assets that are excluded from loss deductions under Interpretation Note 60?

4. How does Interpretation Note 60 address the treatment of partial disposals of assets?

5. What documentation is required to support a claim for loss on disposal of depreciable assets?

### Interpretation Note 106 Deduction in Respect of Certain Residential Units

1. What criteria must be met for a residential unit to qualify for deductions under Interpretation Note 106?

2. How is the deduction for residential units calculated?

3. Are there any specific exclusions for residential units under Interpretation Note 106?

4. How does Interpretation Note 106 define "residential units" for the purpose of deductions?

5. What is the impact of leasing or renting out a residential unit on the deduction?

### Interpretation Note 126 Extraordinary Dividends

1. How does Interpretation Note 126 define "extraordinary dividends"?

2. What are the tax implications of receiving extraordinary dividends?

3. Are there any specific conditions under which dividends are classified as extraordinary?

4. How does Interpretation Note 126 guide the treatment of extraordinary dividends in tax returns?

5. What documentation is required to support the classification of dividends as extraordinary?

### Interpretation Note 101 Gains or Losses on Foreign Exchange Transactions

1. How are gains or losses on foreign exchange transactions calculated according to Interpretation Note 101?

2. What types of foreign exchange transactions are covered under Interpretation Note 101?

3. Are there any specific exclusions for foreign exchange gains or losses?

4. How does Interpretation Note 101 address the treatment of unrealized foreign exchange gains or losses?

5. What is the impact of currency fluctuations on the calculation of foreign exchange gains or losses?

### Interpretation Note 109 Lease Premiums

1. How does Interpretation Note 109 define "lease premiums"?

2. What are the tax implications of receiving or paying lease premiums?

3. Are there any specific conditions under which lease premiums are deductible?

4. How does Interpretation Note 109 guide the treatment of lease premiums in tax returns?

5. What documentation is required to support the deduction or inclusion of lease premiums?

### Interpretation Note 93 Foreign Dividends

1. How are foreign dividends taxed according to Interpretation Note 93?

2. What are the conditions for claiming a foreign tax credit on foreign dividends?

3. Are there any specific exclusions for foreign dividends under Interpretation Note 93?

4. How does Interpretation Note 93 guide the treatment of foreign dividends in tax returns?

5. What documentation is required to support the claim of foreign dividends?

### Interpretation Note 107 Deduction in Respect of Commercial Buildings

1. What criteria must be met for a commercial building to qualify for deductions under Interpretation Note 107?

2. How is the deduction for commercial buildings calculated?

3. Are there any specific exclusions for commercial buildings under Interpretation Note 107?

4. How does Interpretation Note 107 define "commercial buildings" for the purpose of deductions?

5. What is the impact of leasing or renting out a commercial building on the deduction?

### Interpretation Note 127 Determination of Taxable Income from Intra-Group Loans

1. How does Interpretation Note 127 guide the determination of taxable income from intra-group loans?

2. What are the conditions for recognizing interest income or expense on intra-group loans?

3. Are there any specific exclusions for intra-group loans under Interpretation Note 127?

4. How does Interpretation Note 127 address the treatment of foreign currency intra-group loans?

5. What documentation is required to support the determination of taxable income from intra-group loans?

These questions are designed to extract specific information from each Interpretation Note, ensuring a comprehensive understanding of the topics covered. END