TaxTim provides expert assistance at every step of the way - we'll make sure you include all the right information for every deduction, resulting in your maximum possible tax refund. With our helpdesk available to help any time, we make tax as easy as 1,2,3!
Save on expensive tax practitioner fees with professional tax assistance from just R249. TaxTim helps you step-by-step to complete your tax returns quickly, easily and correctly in under 20 minutes!
Skip the queues! You can do your own tax return easily and conveniently online, and get finished with tax in 20 minutes or less. TaxTim contains the knowledge of professional tax practitioners and will guide you step-by-step. It's easier than you think :)
As of July 2013 SARS declared it illegal for anyone other than a registered tax practitioner to assist people with doing their tax returns. Unless the person you know is a tax practitioner, them doing your tax return can lead to trouble for both of you.
This year try TaxTim - our service offers the knowledge and expertise of a trained tax professional, with an easy-to-use friendly interface.
You've come to the right place! TaxTim has made tax easy for over 4.4 million South Africans to date. Our service asks simple questions one-by-one, then fills in your tax return for you. We skip all the complicated stuff and allow you to do your own tax return quickly, easily and with confidence!
It would depend on whether the business was registered as a separate entity or in your own name? How is the business run?
Christinesays: 10 January 2013 at 14:44
Could you respond covering both scenarios?
Scenario 1: If the business were registered in my own name (as a sole proprietor)?
Scenario 2: If the business were registered as a separate entity (such as a CC or PTY Ltd)?
TaxTimsays: 10 January 2013 at 18:47
If the business were "registered" in your own name, then the tax would be paid on the actual assets sold which would result in Capital Gains Tax. Some assets that you use may not be subject to CGT, but a list sold would need to be drawn up to determine what the overall effect is.
If you were to sell the business as a (Pty) Ltd then the shares or members' interest would be sold and the value of that less the original cost which is often zero would be subject to CGT.
I hope that helps?
Christinesays: 11 January 2013 at 20:37
Yes, thank you Tim.
TaxTimsays: 23 February 2013 at 17:16
Only a pleasure!
Get Tax Deadline Reminders, News and Tips
We'll tell you when you need to file, along with tax tips and updates.