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!
I own a website that I started as a Hobby (showcasing information about various sports teams and tournaments). The novelty has since worn off and I now want to sell the website. I have never earned or attempted to earn revenue from the website. Would I have to pay tax on the sale price? If so, what type of tax would I have to pay? (I am currently below the age of 65 and unemployed).
The website was given to me as a gift quite a number of years ago. I have since purchased domain names for the website. I am also wondering how my liability to pay tax on the sale of the website would be affected if I were to include the domain names in the sale price? I would be most appreciative for your advice.
You would pay Capital Gains Tax on the value of the sale less the purchase/value at date you were given the site - so R0 in that case. Capital Gains Tax for individuals is included at 33.3% of the gain made so the most tax you would pay is 13.3% of the gain made.
Normansays: 9 January 2014 at 12:02
In the interest of avoiding any possible misunderstanding on my part, please would you kindly answer the following question for me?
Would I have to pay Personal Income Tax in addition to the 13.3% CGT assuming that the website sale price for the relevant financial year substantially exceeds the annual minimum tax threshold for an individual? (taking into consideration that I am unemployed and under 65 years of age). Or is CGT the only tax that would be payable by me?
TaxTimsays: 10 January 2014 at 10:48
Capital Gains Tax is part of Personal Income Tax. the only difference is that the inclusion percentage is lower which results in a effective lower rate of PIT. So if you have a gain and the included 33.3% of that gain is still less than the overall tax threshold for an individual then you will not have to pay any income tax at all on that transaction, assuming no other income at all.
Get SARS Tax Dates and Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.