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depreciation-wear-and-tear
What supporting documents do I need to submit to SARS?
What supporting documents does SARS need? See what to submit after your tax return, including travel, medical and home office claims.
Read moreCan 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
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
Read moreSwear an affidavit for SARS
Has SARS asked you for documents that you can't produce, such as an old IRP5 from a prior year that your employer doesn't have, or that simply doesn't exist? To
Read moreUse of personal devices for work letter
COMPANY LETTERHEAD DateEmployee's Full NameAddress To Whom It May Concern, Subject: Permission to use personal items for work purposes
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Top Tips for Sole Props
1. Keep an accurate record of revenue and expenses You can draw up these records by way of a simple spreadsheet based on your invoices and then confirm these a
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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
Read moreTop tips for a successful home office claim
Let’s face it, SARS didn’t make it easy for taxpayers to claim their home office expenses this past tax season. We can’t blame them really - b
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FAQs: ‘Other Deductions’ that you may be able to claim in your tax return
There is a section in the tax return called ‘Other Deductions’ which often causes confusion for taxpayers(endpreview). Expenses in this section incl
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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
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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
Read moreDepreciation FAQs
What constitutes wear and tear? What is depreciation? What is the depreciation limit? Wear and Tear or Depreciation is the decrease in value of an asset. SARS al
Read moreThe Smart Way to Save Tax when Renting out a Property
Taxpayers who earn rental income from a second property of theirs often don’t know what they need to do when it comes to declaring this income to SARS. So
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
Read moreSARS is asking for more documents. Are they auditing me?
For most people upon submission of their year-end income tax return, either nothing much will happen or a refund will be due, this being paid back within a matt
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