TaxTim's Blog

SARS repeat reminders for supporting documents

If you received another email from TaxTim requesting SARS supporting documents, but you already sent these to SARS more than 21 business days ago, one of these

Provisional Taxpayers:  Unpacking Your Tax Season Deadline

Tick-tock, time is running out for non-provisional taxpayers to submit their 2022 tax return. The filing deadline of 24 October 2022 is just around the corner.

SARS has introduced a new online travel declaration system for South Africans & its residents.

The South African Revenue Service (SARS) says it will implement an "online traveller declaration system" that will go into effect on November 1, 2022. According

Some common (and sometimes forgotten) tax deductions

Too often, taxpayers rush when completing their tax return, and then they miss out on some expenses they are eligible to claim. Don’t overpay tax by overl

New SARS Deadlines for Auto-Assessments

From 1 July to 4 July, SARS aims to issue auto-assessments to taxpayers who are due a refund. The rest will be issued in batches up to 24 July. Timing is Ever

Tax Season 2022

The 2022 filing season opens on 1 July. Tick tock. That’s just around the corner. It is important to be aware that the season is shorter than prior

SARS penalties: strict rules for 2022

SARS is warning that those who fail to submit their tax return on time, will face harsh penalties. The period of leeway which applied to 2021 has now passed. S

Digging into the detail of Building Allowances

The cement is all used up and the bricks have been laid exactly where they need to be. A huge sigh of relief because… finally, construction and renovatio

Renting out your home and the effect on capital gains tax

Our Helpdesk receives lots of questions from home sellers who rented out their primary residence for some of the(endpreview) time that they owned it. For

Tax Return Due Dates

There are various types of taxes with their own special return forms and deadlines. Quick Summary Tax Type Tax Form Submission Due Dates Personal

The Public Servants Association (PSA) Notifies SARS of strike action

The Public Servants Association (PSA) served SARS with a notice of strike action on Friday, 13 May 2022. The strike is due to take place on Wednesday, 25 May 20

Your social media posts might flag you with SARS

According to SARS commissioner Edward Kieswetter, some South Africans who came into money were eager to “display their wealth”, giving cause for SAR

SARS clamps down on crypto investors

For months, SARS has been clear about its plan to clamp down on crypto investors. While many may be under the impression that crypto is going under the radar, S

Top Tips to Prepare for the 2022 Tax Season

Ensure you have a tax number & eFiling profile If you have not registered for SARS eFiling or you don't have a tax number don’t worry, SARS has

Top tips for a successful home office claim

Let’s face it, SARS didn’t make it easy for taxpayers to claim their home office expenses this past tax season. We can’t blame them really - b

Tax Exemption for Foreign Employment Income : What You Need to Know

If you think earning an income from a global source isn’t taxable on home soil, I’m afraid I have some bad news. Whether you’re earning Dollar

Tax and Marriage go together, like a horse and carriage

When planning your wedding, it’s highly unlikely that anything related to tax features on your agenda. However, when saying “I do” it’s

Finance Minister Enoch Godongwana's budget speech 2022 Overview

Finance Minister, Enoch Godongwana, delivered his maiden budget speech on 23 February. The speech started by indicating that there are still high risks to the

Budget 2022: Some Hope For Consumers

All eyes were on Finance Minister, Enoch Godongwana, when he delivered his maiden budget speech to South Africans yesterday. Taxpayers breathed a sigh of relief

Retrenched? Here’s how you will be taxed

In 2020, about 2.2 million jobs were lost in South Africa and in 2021, that number is expected to double as a result of Covid-19. With that, we have found that

Your Retirement Fund: Understanding the 2022 Tax Changes

Have you found yourself with a huge tax bill at the end of the tax year, and no money to pay it? SARS is making your life easier by changing the way it does tax

Key Announcements from the State of the Nation 2022

President Cyril Ramaphosa made the following key announcements in the State of the Nation Address (SoNA) he delivered on 10 February 2022. Economic issues were

Technical Issues for Tax Season 2021

Important Notice: You Will Face New Penalties if You Miss the January Tax Deadline

If you’re a provisional taxpayer, make sure you file your tax return before or on the deadline of 31 January 2022. You can check here to see if you are a

FAQ: Cryptocurrency and Tax

Does SARS regard cryptocurrency as a real currency? No - SARS does not regard cryptocurrency as a currency, but rather as an intangible asset. In fact, t