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Latest Posts in Tax Q&A

Is rental expense a tax deductible expense for Airbnb subletting?



I know that the interest on a bond is tax deductible in the case of an Airbnb.
I was wondering if the rental of a property is also tax deductible if you use the arbitrage Airbnb method, i.e. subletting a fixed-term rental as an Airbnb?

Another question, what if the property is not my own, I am renting it from someone and subletting it. Is the rental expense that I pay, a deductible expense of operating the Airbnb business?

I know you have tiers of packages. How much do you charge to do the income tax of individuals that include the rental income? ...

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Update Banking Details for a refund from SARS



Good morning,

I am no longer banking with the bank I used during 2023 and am trying to update my details on SARS eFiling. So far, I have successfully added my new bank and this has been verified by SARS. However, I am unable to remove my old banking details, and select my new bank as the primary transaction account for payments from SARS. Do I need to wait to file my 2024 Return to effect this change?

How would they tax you if you win the Powerball?



If I win the Powerball and decide to put all my winnings into a savings account and live off the interest, will I have to pay tax on my interest earned only or am I supposed to pay tax on the total amount of winnings in the account?

How do I obtain my ITA34 documents?



I have lived abroad for 6 years and have not paid my taxes in SA.
I have now tax returned and need to obtain my ITA 34 documents for the past 3 years for the bank.

How do I do my taxes as a freelancer?



I'm a freelancer now, how do I do my taxes? Do I register as provisional taxpayer or can I still pay PAYE?

The form loads but the one time pin email and cell number is incorrect



Manage Tax Type Transfer
Hi there,
All of the detail is correct - updated and perfect - but the moment I want to Manage Tax Types request the one time pin wants to be send to the wrong detail no matter what I do, should I call SARS to fix this?

Should I trade as a SBC or Sole Proprietor?



I've secured a contract of R3. 1m for two years which is going to be invoiced at R130k per month. Whats the best way to go about this? Should I set-up my business as an SBC or sole proprietor?

I'm a remote worker who needs help with their tax




I'm an independent contractor working remotely for an international company. The company is not obligated to pay my tax, therefore I need to do it myself.  However,  I'm not sure what the process entails.  Please can you offer help?

Is there tax on interest earned on money in savings accounts?



I think my tax return for 2023 was incorrect.
The amount in my ABSA back account pulled through and according to me, I am not supposed to pay tax on interest earned on money in my  savings bank account.

If I am correct, what are the next steps to correct this?

Claiming 12B tax deduction on IRP6?



I made a contribution towards a solar investment fund. My question does not relate to a rebate for my home installation.

I have contributed to a large fund that raised capital for a 12B solar energy project. The administrator of that fund indicated that I can include this under "deductions" when I file. There doesn't seem to be a field to enter it on the IRP6.

Why are my SARS attachments blank when I open them?



I just filed my provisional tax return (IRP6) using your platform. I received an email from TaxTim with the following instructions: "To view the contents of your Provisional Tax Statement of Account, please login to TaxTim, click on My Tax Docs and view the PDF there."

However, when I follow these instructions and attempt to open the document from SARS on my My Tax Docs page, it is blank. It does not seem to be pulling through the information. I checked on my SARS eFiling profile and I am able to open and view the Provisional Tax Statement of account there. ...

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Can construction workers claim a tax refund?



I work as a bricklayer on a building site. Do I need to submit a tax return and are construction employees allowed to claim a tax refund?

How do I calculate tax on my overtime?



I worked some overtime in the past few months. I am wondering how to calculate the tax on it. What tax bracket does overtime fall under?

Do I file a provisional return for a sole proprietor that I started in January?



I started as sole proprietor in January this year. Do I still need to file a Period 2 provisional tax return (IRP6) this February? The questions on Tax Tim are asking for the whole financial year (i.e from March last year until the end of February this year). Do I then just calculate the income and expenses for January and February of this year?

Trading Loss on IRP6



I registered a company in May 2023 and did not make a profit during the tax year up to 29 February 2024. I understand that I still need to file a provisional tax return with SARS, but it does not look like I can enter a negative figure in "Taxable Income" in the IRP6 form. Do I need to enter zero - as in there was no taxable income? In that case, does that mean that I cannot carry the loss forward to next year?

Is my Company a SBC or does it qualify for turnover tax?



Hi there, I would like to find out if I should be applying for turnover tax or small business tax, and if I would be considered a micro business. I have just completed my provisional tax return for 2024-01 on Tax Tim and the tax rate is 27%, which seems so high! This is my first tax return for my business, please help.

Tax on my travel allowance



My employer is satisfied that only 60% of my travel allowance will be for business purpose, do I only include the 60% in my monthly payslip for PAYE purposes or do I revert back to the 80/20 rule?

Donations to minors



If I donate R50 000 to each of my minor children (directly to their bank accounts) will R100 000 be tax deductible in my income tax return?

How are foreign dividends from an unlisted company treated?



Are dividends from foreign shares (not listed on any exchange) bought privately from a foreign business tax exempt?  If not, how would the dividend paid be treated for tax purposes?

What percentage tax does a person as a consultant pay?



I have been offered a job as a part time consultant. The company says that I must pay tax directly to SARS. How much tax will I have to pay directly to SARS?

I work two jobs - can I claim internet for both?



I work two jobs as an independent contractor in addition to my full-time salary. I use the same fibre internet connection for both these jobs which is debited on a monthly basis. Am I correct in saying I can only claim for it once on my tax return, and not twice for both jobs?

Then I also want to know if my TaxTim payment is deductible? 

My seafarer exemption was rejected. What do I do now?



I received a SARS assessment after submitting my tax return via TaxTim. During the submission, there was no payment to SARS expected. However I then received an assessment for a large (R2m) balance owed. At the time I assumed it was a mistake or a premature assessment before my documents had been processed, but I've now received an email from SARS stating Outstanding Debt. Please could you assist me with understanding the significant discrepancy between the TaxTim calculation and the SARS assess...

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Send me tax number



Please send me my tax number

When can I submit my tax return?



When can I submit my tax return for the 2022 tax season? Are the filing dates still the same as those of the previous year?

Register as a Sole Proprietor



Can TaxTim help me register as a Sole Proprietor and assist me with my accounting?
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