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travel-allowance
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
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How to cruise through a travel audit efficiently
Surely most of us love to travel, but traveling for business purposes is no fun when it comes to completing your tax return. SARS has some rather onerous requi
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FAQs: Travel expenses and Tax
Travel expenses and their tax impact are a complex issue for many. It’s no surprise that it’s a common theme on our Helpdesk.(endpreview) We&rs
Read moreTax 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
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Tax effects of your salary structure
We often receive questions from taxpayers as to how to structure their salary most efficiently for tax purposes. Unfortunately, the reality is that the da
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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
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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
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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
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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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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
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Tax Breaks For All
What?1. Rebates Who? EverybodyPrimary, secondary, and tertiary rebates – depending on your age.(endpreview) A rebate is a set amount that SARS whacks off y
Read moreWho's (Legally) Allowed to File Your Tax Return?
Tax isn’t the easiest of subjects to navigate. Besides the long list of legalese to master, there’s the fact that tax legislation(endpreview) evol
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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
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Top Questions on tax seasons
By now you would have seen the latest announcement by the SARS commissioner to increase the qualifying threshold for certain taxpayers(endpreview) to submit a t
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Wear and Tear (Depreciation) Top Questions
This week we zoom into Wear and Tear also commonly known as Depreciation. Below we've covered some of the top questions we've received from our Helpdesk. T
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Tax Treatment for Uber Drivers
If you are an Uber driver, you use your own vehicle/s to generate your income and you determine your own working hours, you will be treated as being self-employ
Read moreWhat 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
Read moreRetirement 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
Read moreThank 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
Read more2014 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
Read moreSARS 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
Read moreThe 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
Read moreSARS 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
Read moreHow 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,
Read moreWhat to do if your second ITA34 assessment says you now owe SARS money
If you have ever survived a SARS audit, you may have been issued with a “revised assessment” or second ITA34 that doesn't make much sense. It probably says that
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