TaxTim's Blog

TaxTim’s top tips for Provisional Taxpayers

Don’t offset losses – SARS may not allow this If you run a business or rental property, which is running at a loss, don’t offset this lo

blog

Tax Round Up: Top 5 Weekly Questions

We have identified the top five most-asked questions from our users on our TaxTim help-desk this past week. Take a look below to see what has been confusing tax

Black Friday Survival Tips

It's that time of the year again - Black Friday! We'd like to assume that you've probably been inundated with nothing but sale specials in your inbox . While ot

FAQs on TaxTim

We’ve put together a few FAQs which have come from many of our users. These questions vary from the filing process on TaxTim as well as the generic tax qu

File by 31 October or face heavy fines and potential legal action!

With the tax season shortened this year by 3 weeks, the deadline to file by 31 October is just around the corner. SARS announced that it will be clamp

Why have I received a smaller tax refund from SARS this year?

We receive many queries from confused taxpayers who are disappointed to see their tax refunds are smaller than the refund received last year.(endpreview) Often,

Get your digital tax health score to help you pay less tax

TaxTim, which helps you to complete and file your tax returns online with the help of a digital tax expert called Tim, now offers a personalised tax health scor

What to expect after submitting your tax return to SARS

As soon as tax season opens in July, many taxpayers rush to submit their ITR12 tax returns as early as possible, eagerly hoping for a nice refund

blog

Letters you may need to provide to SARS

After submission of your tax return, SARS may request certain documents from you. These may include a letter if you claimed any of the following deductions:- Hom

How Do Taxpayers Feel About The Proposed New Filing Deadline?

On Monday 21st May, TaxTim conducted a simple survey of taxpayers who make use of the TaxTim services about their opinion on SARS’ proposal to shorten the

Be smart and save tax when receiving income from an Airbnb

Taxpayers who earn Airbnb income often don’t know what they need to do when it comes to declaring this income to SARS. Sometimes taxpayers think that they

Budget Speech: VAT rises by 1%, predictions were correct!

Taxpayers should breathe a sigh of relief as a much lower than expected R36bn in increased taxes was announced by the once-off Minister of Finance. The biggest

Mirror Mirror on the Wall, Where Do We Look to Plug the Shortfall?

By now we are all aware that it is more than likely that SARS will miss its 2018 revenue collection target that it set a year ago by R51bn. The budget deficit (

I've raised a dispute: Do I need to pay?

Many disgruntled taxpayers are receiving SMS’s from SARS who threaten legal action if they don’t pay their outstanding tax debt. However, these same

Latest SARS Guide: Tax treatment of retrenchment benefits

In the past, taxpayers who received a severance payment benefitted from the favourable tax treatment applied to it. It didn’t matter if the retrenchment w

Disposal of Small Business Assets

If you have reached the age of 55 years, and are thinking of selling your small business, read on to find out more about the special capital gains exclusion of

blog

Navigating around your Momentum tax certificate (IT3b)

1. Local interest - source code 4201

blog

Navigating around your Investec investment tax certificate (IT3b)

1. Local interest - source code 42012. Local dividends - you don't need to enter this on your tax return. This income is exempt.3. Foreign dividends - source co

blog

Navigating around your FNB tax certificate (IT3b)

1. Local credit interest (income) - source code 4201. 2. Local debit interest (expense) - you don't need to enter this on your tax return.

Navigating around your Allan Gray tax certificate (IT3b)

1. Local interest - source code 42012. Foreign interest - source code 42183. Foreign tax credit on foreign interest - source code 41134. Local dividends - you d

Navigating around your Alexander Forbes investment tax certificate (IT3b)

1. Local dividend - subject to dividend withholding tax. You don't need to enter it in your tax return.2. Local interest - source code 4201.3. Distribution from

blog

Navigating around your investment tax certificate (IT3b)

If you hold investments with a bank or financial institution, there is important information on your IT3(b) tax certificate which needs to be included in y

blog

Navigating around your Wooltru Medical Aid Certificate

1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we

blog

Navigating around your Polmed Medical Aid Certificate

1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we

blog

Navigating around your Momentum Medical Aid Certificate

1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we

Page 12 of 15

Showing 276–300 of 365 articles