TaxTim's Blog
How to calculate totals under source codes 3696 and 3699
Perhaps you just tried to submit your tax return and you instantly got an error relating to 3696 and 3699. As frustrating as it could be, don’t worry the
Read moreCalculate interest on late provisional tax payment
SARS charges interest on late payments made toward provisional tax deadlines. To calculate this late payment penalty, use the formula below:Provisional tax amou
Read moreWhen Will SARS Pay My Tax Refund?
Hundreds of thousands of South Africans are filing their annual tax returns and everyday people ask us “when will I get my refund from SARS?”
Read moreImportant Notice: You Will Face New Penalties if You Miss the November Tax Deadline
If you’re an individual non-provisional taxpayer, make sure you file your tax return before or on the deadline of 2 December 2021. SARS is warning that t
Read moreWhat is Identity Fraud?
Identity fraud happens when someone uses your personal information, such as your name and identity number, without your permission. Criminals steal your identi
Read moreCrypto investors are on SARS’ hitlist
Earlier this year, SARS reached out to cryptocurrency platforms to access their lists of clients and information in its bid to clamp down on the wealthy. Many
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10 Tips to Pay Less Tax
These tips are part of TaxTim's personalised recommendation tool called the Tax Health Score. Once you file your tax return with TaxTim,(endpreview) we analyze
Read moreI have received a Reduced Assessment from SARS
This is good news! A Reduced Assessment means you owe LESS tax. i.e SARS has assessed your taxable income to be a lower or reduced amount compared to their Orig
Read moreThe Momentum HealthSaver and your tax return
The Momentum HealthSaver is a savings account which works with your medical aid and allows you to save for additional medical costs which are not covered
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SARS can now fine you or take you to jail for these tax mistakes
In the past SARS needed to prove that a taxpayer had committed a tax crime “willfully and without just cause” but the legislation has just been chan
Read moreHow to reject the SARS Auto Assessment
If SARS have issued you an Auto Assessment, you will need to follow these steps to reject it so that we can help you to complete and submit your return to SARS.
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Where do I get my IT3b tax certificate from?
When we finally decide to complete our tax return, the last thing we want is a delay in finding that last piece of missing information. In case your bank or inv
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Been working from home? You can get money back from SARS
Good news if you’ve been working from home for the past year. You can claim a tax deduction if you worked from home for more than half of your total worki
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Working remotely? You could be liable for double taxation
In these ever-changing times, many South Africans working abroad have found themselves working back in their home country. Although this may not have been their
Read moreSARS advertises 370 jobs to clamp down on SAs wealthy
In the national budget speech this year, finance minister, Tito Mboweni announced the initiation of a new unit within SARS dedicated to improving tax compliance
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Tax on your travel allowance after Covid-19 lockdown regulations
Do you receive a travel allowance from your employer because your job used to entail significant travel? As the Covid-19 pandemic hit and lockdown restrictions
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WILL you be ready when the time comes?
“A society grows great when old men plant trees whose shade they know they shall never sit in.” - ANON More than 70% of South Africans don’t
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I submitted all my documents to SARS, They've asked again. Why?
We are seeing many cases where taxpayers submit their documents to SARS, wait 21 working days (sometimes longer) only to receive a second letter on eFiling whic
Read moreFAQ: Stock Options
Companies issue stock options (also called share options) to key employees in order to attract and retain talent. A stock option is different from a share &nda
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Budget 2021: No Tax Hikes
The Minister delivered some welcome news to South Africans yesterday when he announced that plans to hike taxes by R40 billion rand over the next four years, ha
Read moreIRP5 FAQs
What is an IRP5? An IRP5 is the employee's tax certificate that is issued to him/her at the end of each tax year detailing all employer/employee related incomes,
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Top Tips for Provisional Taxpayers
1. Estimate your taxable income for the whole tax year Remember that both your first and second provisional return (IRP6) must reflect an estimate of your taxa
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New South African Expat Tax Changes in 2021
In a bid to meet its tax revenue quotas, SARS began introducing changes to the expatriate laws which took effect on 1 March 2020, which saw the launch of the Fo
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Having problems with Adobe Flash Player forms on SARS e-Filing?
As early as July 2017, Adobe announced that Flash Player would be discontinued by 31 December 2020 and that Flash Player would block its Flash content by 12 Jan
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Possible tax hikes to cover the cost of Covid-19 vaccines
As many countries around the world are already in the process of distributing the Covid-19 vaccine, the National Treasury of South Africa is proposing the possi
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