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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!
Please can you tell me what tax I would pay on say R10,000.00 per month interest from local money market. I see R22 800 p a is tax free, then the local table applies, does that mean after 60.000 pa. This would be my only form of income.
So if you are under 65 years of age and earning R120 000 per annum in interest the first R22 800 would be tax free so you would only be taxed on R97 200 which would be at 18%. However the first R63 556 of that would also be tax free as this is the tax threshold so therefore the balance of R33 644 would be taxable at 18%.
Cookiesays: 4 February 2013 at 20:29
Thanks so much for your reply, I understand that fully. Trying to get my question answered at SARS was a nightmare. It is so easy, but they don't know what they are doing.
TaxTimsays: 5 February 2013 at 18:38
Good to know our service is helping taxpayers!
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