TaxTim's Blog

Auto-Assessed Taxpayers: Missed the SARS filing deadline?

If you were auto-assessed by SARS, your deadline to submit a tax return was 20 October 2025. If you still want to submit a Tax return but did not file by this d

How FNB clients can simplify tax season and save

At FNB, your financial wellbeing is always a priority. Tax season is an important part of that journey, but it’s also a time that many people find stres

Tax Directive Error Affecting Certain Retirement Fund Transfers

TaxTim is aware of a tax directive issue between SARS and certain retirement funds where some fund transfers are incorrectly being treated as taxable events. On

How to Estimate Your 1st Provisional Tax Payment

So, it’s that time of year again and SARS wants a payment. But how much are you actually supposed to pay, and how do you even begin to figure that out? Th

Foreign Nationals and Non-Residents: Important SARS Update for this Tax Season

SARS (the South African Revenue Service) has made recent changes regarding how foreign nationals and some non-resident taxpayers are handled in the tax system.

Non-Residents: Please read this before you submit your tax return

If you are a non-resident for tax purposes but SARS still has you on record as a South African tax resident, you will face unexpected challenges when filing you

Important Tax Filing Reminder: Don't Miss the Deadline

If you're a salary-only employee (i.e non-provisional taxpayer), your tax filing deadline is 20 October 2025. But, if you do fall into the provisional taxpayer

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

I work for someone, but did not receive an IRP5 - what should I do?

You may be employed by someone, but for one reason or another- you don't receive an IRP5 and no amount of begging or pleading(endpreview) will result in on

Have you ceased residency during the tax year?

SARS has made changes to the 2025 tax return to help taxpayers who ceased South African tax residency during the tax year. If this applies to you, your tax retu

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

A Directors PAYE and UIF deductions

Top questions on Commission Earners

Our helpdesk receives hundreds of questions from commission earners about how their tax is calculated. Many are also confused about which expenses they can clai

Budget 2025: Tough Times Ahead

Although the latest budget avoids the steep VAT hike proposed last month, it still puts significant pressure on taxpayers. All taxpayers will feel the pinch, a

Tax Season 2025: opening date and deadlines

What you need to know about SARS auto-assessments (ITA34s)

What is an auto-assessment? This is an automatic assessment issued by SARS to certain taxpayers. (endpreview) SARS will use data collected from employers, fina

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

What is a Financial Instrument?

What is a financial instrument according to SARS? A financial instrument is a contract that represents money or something of value. For one party, it’s a

Why Is My Take-Home Pay Less Than My Gross Salary?

Have you ever noticed a difference between your contracted salary and the actual amount deposited into your bank account? This Q&A aims to clarify some comm

Can I claim depreciation on a car I bought for my business?

If I run a small business and buy an asset like a vehicle for R200,000 (paid in full and not financed), can I deduct the full amount from my taxable income in t

Renewable Energy Incentives for Businesses

The enhanced tax incentive recently introduced by the government, known as Section 12BA, aims to promote private investment in electricity generation from renew

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

Understanding the Assets and Liabilities Section in Your Tax Return

The assets and liabilities section in the annual tax return (ITR12) needs to be completed if you: earn self-employment income or are an independent contracto

What Are Shares?

Shares represent ownership in a company. When you buy shares, you become a shareholder — meaning you own a small part of that company. Companies issue sha

Investing 101: What is a Bond?

A bond is essentially a loan you give to a company, a municipality, or the government. It is a type of investment. When you buy a bond, you are lending money&md