TaxTim's Blog
Navigating around your Gems Medical Aid Certificate
1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we
Read moreNavigating around your Discovery Medical Aid Certificate
1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we
Read moreNavigating around your Camaf Medical Aid Certificate
1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we
Read moreNavigating around your Bonitas Medical Aid Certificate
1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we
Read moreNavigating around your Bankmed Medical Aid Certificate
1. Name of Medical Scheme2. Medical Scheme Membership number3. Number of members/dependents per month4. Total contributions5. Claims you paid personally that we
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The Dangers of DIY Tax: How to Avoid Disaster
Have you ever started one of those ‘oh, this’ll be easy’ Do-It-Yourself jobs, only to find yourself utterly frustrated half-way through wonder
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My refund was reversed by SARS: Why is this?
If you've ever found yourself confused as to why SARS has recalled your refund, even after they confirmed that you'd be recieving it, on a certain dat
Read moreFinding your way around an IRP5
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return. PAYE number Income s
Read moreFinding your way around an IRP5
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return. PAYE number In
Read moreFinding your way around an IRP5
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return. PAYE number In
Read moreFinding your way around an IRP5
Consult the image above to find all the tax-related information on your IRP5 that you will need when completing your annual tax return. PAYE number Income s
Read more
Alert: file by 24 November or face heavy fines and potential legal action!
SARS has recently announced that it will be clamping down on taxpayers who miss the deadline to submit their tax return. Besides stating that they will carry ou
Read moreHELP: SARS has requested me to submit an IT14SD
After you have submitted the Company tax return (ITR14), SARS may request you to complete an IT14SD. The purpose of the IT14SD is to reconcile the information
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The Tax Indaba 2017
The Tax Indaba is the largest annual gathering of tax practitioners, in-house tax staff members, government tax officials and tax academics. The Tax Indaba aims
Read moreUnpacking the seemingly complex: Part-time and Casual Workers
One of the most often-misunderstood things is how tax on part-time and casual workers actually gets calculated. A topic often sparking a lot of debate, causing
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Delivery from SARS: Retirement Contributions Letter
So, you’ve recently submitted your tax return, received your assessment and were probably breathing a sigh of relief to be finished with the tax filing pr
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Foreign Employment Tax Proposal
It seems like the tax season, this year, has brought about more changes and proposals than we could’ve ever imagined. In July 2017, the National Treasury
Read moreSARS ITR12 Updates
As you may be aware, SARS has implemented a few changes to the format of the tax return this year. One such change is the requirement for taxpayers to enter mor
Read moreThe low-down on Financial Statements for companies
With the launch of the Corporate Income Tax Return service for SME’s recently, there are questions around the requirement for companies to produce financi
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Which dividends are exempt from Dividend Withholding Tax?
There are certain dividends, which don’t attract dividends tax, provided some conditions are met. However, lets first take a step back and clarify what di
Read moreAlert: Change to Provisional Taxpayer Rules
Currently, there is a legal obligation for South African resident employers to register with SARS for employee’s tax (PAYE) so they can withhold tax on a
Read moreUnpacking the Budget Speech: proposed changes to foreign employment
Since the announcement of the 2017/2018 budget, TaxTim has been asked many times about the changes to the foreign employment income exemptions rules which could
Read morePenalty FAQs
What is a recurring penalty? OR What are recurring SARS penalties? OR What does it mean to receive a penalty? This is a penalty for non-submission of your return
Read moreRental 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
Read moreContract 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
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