5 Reasons you Still Need to File your Tax Return

SARS 2025 tax season dates: 21 July 2025 to 20 October 2025: individual (non-provisional) taxpayers 21 July 2025 to 19 January 2026: provisional taxpayers If

Why don't I get a tax deduction for Out of Pocket Medical Expenses?

Tax season always throws up some interesting and confusing calculations, but for many, the most confusing of all is how medical aid contributions and Out of Poc

Why do I owe SARS more money?

Once you’ve completed filing your tax return, it’s possible to find that instead of getting money back(endpreview), you actually have an outstanding

Tax Season 2025: opening date and deadlines

Unpacking the Section 13sex Residential Unit Deduction

The Section 13sex residential unit deduction is a South African tax break for people who invest in new rental properties. If you build or buy new units to rent

Tax on Pension Annuites

When you retire, you’ll have a few options for how to access your retirement savings. You can take up to one-third of the total amount as a cash lump sum

How to Change/Verify Your Bank Details at SARS

SARS has recently issued a new guide with regards to updating your banking details with them. This was done in order to reduce the risk of refunds being paid in

Do You Need to Ring-Fence Your Business or Rental Losses for Tax?

When pursuing a business activity, trade or renting out a property, you’re no doubt doing so to make some money, but the reality for self-starters(endpr

Top Tips for Sole Props

1. Keep an accurate record of revenue and expenses You can draw up these records by way of a simple spreadsheet based on your invoices and then confirm these a

What to do if your tax return was rejected by SARS

If you've received a letter from SARS saying that your tax return has been rejected and you're not sure why, there could be a few reasons why this has happened.

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

Calculate 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

Do I earn enough to have to pay tax?

Why must I pay tax, I don’t earn enough! Will I get a penalty if I don’t disclose all my income to SARS?(endpreview) These questions are common and

10 Ways to Spend Your Tax Refund

It’s tax season, and one of the most compelling reasons to file a tax return (besides the fact that it’s the law, of course) is the chance that you&

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

Rental Income FAQs

Should interest on your home loan be deducted from your rental income? Yes, it does, the interest would go under the finance costs, the actual bond repayments a

5 Great Reasons to File Your Tax Return Early This Year

Are you the type of person dashing into the store to grab a birthday gift en route to a party? Or perhaps you’ve found yourself scratching through your

The Smart Way to Save Tax when Renting out a Property

Taxpayers who earn rental income from a second property of theirs often don’t know what they need to do when it comes to declaring this income to SARS. So

2016 Budget Speech: Welcome Back, Minister! You Couldn’t Have Returned Just for the Free Lunch?

The 24th of February 2016 was supposed to be a watershed moment for the Economy of South Africa. The old-new Minister of Finance, Pravin Gordhan, was to deliver

What You Need to Know About Changes to the Tax Clearance System

Tax compliance makes its way into many aspects of life and business. Perhaps you’re considering applying for a tender, or for a foreign investment allowan

Retirement Funds Tax Laws Effective 1 March 2016 - How SARS’ New Changes Affect You!

If you’re diligently putting money away for your retirement in the form of a pension, provident fund or retirement annuity, you may be curious – per

Thank you Minister – we expected worse! 2015 Budget

New Finance Minister Nene delivers his first budget with some “better than expected” tax increases. The fight against corruption was highlighted wit

2014 Budget – A move to economic transformation

In delivering what could possibly be his last annual budget and perhaps in an election year a very pragmatic one, Minister Pravin Gordhan painted a rather posit

Garnishee orders explained: How SARS can deduct penalties directly from your pay cheque and how to stop it

The last days of the month are often the most exciting for employees as they look forward to spending their monthly pay cheques. Unfortunately for many taxpayer

The effect of the 2013/14 annual budget speech on the average South African taxpayer

It was with great enthusiasm that we at TaxTim awaited delivery by the Minister of Finance of his annual budget speech this afternoon, especially after some of