TaxTim's Blog
Making payments to SARS
You have filed all your outstanding tax returns with SARS and when receiving your ITA34 assessment/ Statement of Account/ Penalty statement you notice that you
Read moreSONA 2019 - A Short Summary
A Short Summary on the 2019 SONA -we’ve summed up some of the key points that President Ramaphosa made in his speech.
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SARS has done a ‘simulated calculation’ for me – what does this mean?
You may have heard the recent announcement from SARS that certain taxpayers who earn less than R500 000 per year don’t need to submit a tax return. Howeve
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How to claim medical aid costs for a family member
At TaxTim we receive many questions from taxpayers who pay medical aid for dependent family members and who want to know if they can claim for this in their tax
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Why is SARS requesting my supporting documents again?
TaxTim is seeing cases where taxpayers who had already submitted their documents in early July to SARS are, around ten days to two weeks later, receiving a furt
Read moreWhat should I do if I have no assessment from SARS after having filed a return?
Usually SARS issued an immediate assessment, however sometimes they do need to do a further manual check on their side. Often the reason for this is one of the
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Clarifying the tax return threshold set by SARS
You may have seen the latest announcement by the SARS commissioner to increase the qualifying threshold for certain taxpayers to submit a tax return from R350 0
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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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How to lodge a complaint with SARS
There are times when the call centre agent from SARS is unable to resolve your issue and you need to reach out to a more senior person at SARS. You can request
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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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Top Questions on IRP5s
It’s that time of the year again and employers are issuing their employees IRP5s for the tax year. An IRP5 is a tax certificate which shows the total empl
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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
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A basic overview of the Balance Sheet and Income Statement
From our numerous interactions with small business owners, it seems that many draw up the company’s financial statements by themselves, without engaging t
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Capital Gains Tax (CGT) Top Questions
Below we take a look at Capital Gains Tax, particularly relating to the primary residence exclusion. What we’ve covered are some of the most pressing ques
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Tax and winnings
It's always wonderful to win a prize or a competition – however, many people don’t realise there may be tax consequences attached. This week we tho
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SARS and medical disability
We receive many relevant questions from our users about what they can claim as a tax deduction if they or one of their dependants suffers from a disability. Thi
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Rental Property: Top Weekly Questions
If you own a rental property, then this week’s top questions are specifically for you! Read on to find out more. 1. We paid off our home loan 5 years ago
Read moreTop 5 Weekly Tax Questions
Read on to see this week’s top five burning questions received to our Helpdesk this past week. Hopefully this helps you too as we once again shed li
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1 March 2020: Expats alert, tax changes are coming your way!
In 2017, National Treasury announced that there would be changes to the Foreign Employment income Exemption. These changes were intended to target those South A
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Tax Return, Rebate and Refund Explained
When it comes to tax jargon, most people prefer to bury their heads in the sand instead of trying to understand all the confusing terms that tax practitioners u
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Budget 2019: What did the Minister deliver?
Mr Minister, you did a fine balancing act on this year’s budget; short-term pain for long-term gain. (endpreview) Although no one was expecting any tax i
Read moreLatest Top 5 weekly round up
Once again we bring you our top five most-asked questions we’ve received to our Helpdesk this past week. Hopefully this may help others who have been pu
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Budget 2019: TaxTim’s predictions
Budget 2019: TaxTim’s predictions Finance Minister Tito Mboweni will be in the spotlight next week when he delivers his maiden budget speech on Wedn
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SARS are sending me SMSs demanding payment but I have raised a dispute - what must I do?
We have been contacted by many concerned taxpayers who have received SMS’s from SARS demanding urgent settlement of their tax debt in order to avoid legal
Read moreS12J VCC Tax Incentive
Guest Blogger: Albertus Marais Director of AJM tax consultants and an independent director of 12Cape Ltd, a registered VCC.(endpreview) 10 Year
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