TaxTim's Blog — tax-threshold

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2026 Tax Season: Why You Should Still File Your Income Tax Return

With the 2026 tax season approaching, many clients have been asking whether they really need to submit an annual income tax return this tax year. Our ans

Individual Tax Rate Tables

Income tax thresholds for 1 March 2016 to 28 February 2017 and 1 March 2017 to 28 February 2018

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 You May Owe Tax on Two-Pot Withdrawals

South Africa introduced the Two-Pot Retirement System to help people access part of their retirement savings before retirement age, while keeping the rest for r

Foreign Employment Exemption Letter

COMPANY LETTERHEAD DateEmployee's Full NameAddress To Whom It May Concern,Subject: Confirmation of foreign employmentThis letter serves to confirm that__

SARS is not paying my refund, they want my old returns!

Taxpayers this year are facing a new gripe with SARS when it comes to receiving those well-earned refunds. The current two scenarios are: NO AUDIT: A taxpaye

Why is SARS asking me for outstanding tax returns?

In 2024, we have noticed that SARS is withholding refunds from taxpayers with outstanding tax returns, sometimes dating back many years. In some cases, SARS is

Navigating Tax Consequences for Social Media Influencers

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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

IRP5 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,

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

How does Pay-As-You-Earn (PAYE) work?

You may have seen the word PAYE on your IRP5 payslip or heard it mentioned by your employer, but have no idea of its meaning.(endpreview) All it really mea

Multiple Employers, Multiple PAYE payments. Yet I still owe SARS?

We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:(endpreview) They work for two employers during the year, pe

Contract Workers FAQs

Contracting Benefits vs Salary? You will still be able to claim deductions for medical, travel and RA directly regardless of how you are earning income. Contract

2017/2018 Budget - The rich are going to pay more, but what does that mean for the rest of us?

Personal Tax Rates (rates below) Individuals across the country, those qualifying above the new tax threshold of R75 750 (previously R75 000) will be

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

2016/2017 Tax Tables

Income Tax Tables for the 2017 Tax Year - 1 March 2016 to 28 February 2017 Income Tax Thresholds Tax Year 2016 (1 March 2015 to 29 February 2016)

SARS Tax Tables 2015

Tax Thresholds: Tax year 1 March 2014 to 28 February 2015 Tax year 1 March 2015 to 28 February 2016 Below age 65 R70 700 Below age 65 R73 650

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

What if I am not tax compliant?

SARS, in their attempt to promote compliant taxpayers and maximise timely revenue collection, have traditionally imposed penalties for late filing of tax return

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

SARS Tax Tables for 2014

Tax rates for Individuals and Trusts Income tax rates: Natural persons (that's you) and special trusts. 2013 tax year: 1 March 2013 - 28 Feb 2014. Individuals

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

SARS Tax Tables for 2013

Tax rates for Individuals and Trusts Income tax rates: Natural persons (that's you) and special trusts. 2013 tax year: 1 March 2012 - 28 Feb 2013. Taxable

How to manage your tax affairs running a business in your own name as a sole-proprietor

South Africa is brimming with entrepreneurs and small business owners who keep the economy running. These people may or may not be earning a regular salary too,