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Latest Posts in TaxTim's Blog

Latest Posts in TaxTim's Blog



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 Do Your Tax Return Easily
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 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

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'Rejection of Revised ITR12' - but my return is already finalised!

Posted 28 November 2019

'Rejection of Revised ITR12' - but my return is already finalised!

There seem to be many confused taxpayers who have received a letter from SARS titled ‘Rejection of Revised ITR12’ which goes on to say that their revised return cannot be finalised because their assessment has already been finalised.

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File by 4th of December to avoid penalties

Posted 22 November 2019

File by 4th of December to avoid penalties

The deadline for non-provisional taxpayers to file their tax return is just around the corner. Taxpayers have until 4th December to submit their return and avoid unwanted penalties and interest.

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Tax effects of your salary structure

Posted 11 November 2019

Tax effects of your salary structure

We often receive questions from taxpayers as to how to structure their salary most efficiently for tax purposes.  Unfortunately, the reality is that the days of employees gaining a tax advantage

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Pay your taxes by 4 December or face the consequences

Posted 7 November 2019

Pay your taxes by 4 December or face the consequences

The deadline for 2019’s tax season is 4 December, just less than a month away, so it’s time to seriously focus on your tax returns. Last week, Tito Mboweni, the finance minister confirmed during his medium-term budget announcement

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My medical aid is paid by my former employer: How does this affect my tax?

Posted 23 October 2019

My medical aid is paid by my former employer: How does this affect my tax?

When you retire, your soon to be ‘ex-employer’ might offer to continue to pay your medical aid. If you are one of the fortunate few to receive such a benefit, read on for some things to look out for:

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Unemployed Periods

Posted 14 October 2019

Unemployed Periods

A few years ago, SARS introduced a new section onto the Tax Return called “Unemployed Periods.” Taxpayers are required to complete this section by entering all the times within the tax year they were not working.

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Top Questions on Tax and Marriage

Posted 10 October 2019

Top Questions on Tax and Marriage

We receive many questions from taxpayers about how to declare their income in the event that they are married in Community of Property (CoP).

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SARS terminates Tax Clearance Certificates from October 25th

Posted 9 October 2019

SARS terminates Tax Clearance Certificates from October 25th

From the 25th October 2019, the printed Tax Clearance Certificate (TCC) will be substituted by the electronic Tax Compliance Status (TCS). This new digital version of the TCC allows for a more secure experience.

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File with TaxTim and WIN R10,000!

Posted 9 October 2019

File with TaxTim and WIN R10,000!

Want to win R10,000 in cash just for filling your Individual (ITR12) tax return for the 2019 tax year?

How to enter:

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TaxTim in Fairlady Magazine

Posted 7 October 2019

 

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Top Questions on Income that is not taxed

Posted 3 October 2019

Top Questions on Income that is not taxed

Exempt or non-taxable income refers to certain types of income, which is not subject to income tax.

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I've never been audited before. Why now?

Posted 17 September 2019

I've never been audited before. Why now?

This is a common area of concern for many taxpayers who don’t know why they are asked to submit documents to SARS after they file their tax return.

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When Will SARS Pay My Tax Refund?

Posted 16 September 2019

Hundreds of thousands of South Africans are filing their annual tax returns and everyday people ask us “when will I get my refund from SARS?”.

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Top Questions on Provisional Tax

Posted 13 September 2019

Top Questions on Provisional Tax

With the first provisional return still fresh in the minds of taxpayers, we thought it would be a good time to highlight some questions that were asked to our Helpdesk last month.

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Return Status ‘Filed through Branch’ " What Does This Mean?

Posted 13 September 2019

We’ve recently received many questions from taxpayers asking us if we physically went into a SARS office to submit their returns manually.

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Why does SARS require manual intervention to finalise my return?

Posted 5 September 2019

Why does SARS require manual intervention to finalise my return?

When a Tax Return is filed usually SARS issues an immediate assessment (ITA34), however sometimes they do need to do a further manual check on their side.

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Making payments to SARS

Posted 5 September 2019

Making payments to SARS

You have filed all your outstanding tax returns with SARS and when receiving your ITA34 assessment/ Statement of Account/ Penalty statement you notice that you owe SARS some tax. There are three main options available to you, if you want to make a payment to SARS.

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SARS asked for my documents again. Why?

Posted 3 September 2019

SARS asked for my documents again. Why?

We are seeing many cases where taxpayers submit their documents to SARS, wait 21 working days (sometimes longer) only to receive a second letter on eFiling which requests the exact same documents again.

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Tax on Pension Annuities

Posted 14 August 2019

Tax on Pension Annuities

Taking a closer look at why taxpayers may be required to pay in tax on pensions or annuities on assessment and how they can avoid a repetition of this each year.

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SONA 2019 - A Short Summary

Posted 23 July 2019

On 20 June 2019, President Cyril Ramaphosa delivered his first State of the Nation Address (SONA) of the sixth parliament, and for the first time in years, we witnessed an uninterrupted SONA. And that is not the only first. For the first time, the SONA cost almost R2m, a staggering 47% lower than the cost of SONA 2018 and the lowest in five years.

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SARS has done a ‘simulated calculation’ for me " what does this mean?

Posted 19 July 2019

SARS has done a ‘simulated calculation’ for me " what does this mean?

You may have heard the recent announcement from SARS that certain taxpayers who earn less than R500 000 per year don’t need to submit a tax return. However, this only applies under very specific conditions so it is extremely important to understand these fully if you think you may be affected. You can read all about this rule here.

This year SARS are taking things one step further. They ...

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How to claim medical aid costs for a family member

Posted 19 July 2019

How to claim medical aid costs for a family member

At TaxTim we receive many questions from taxpayers who pay medical aid for dependent family members and who want to know if they can claim for this in their tax return.

When paying medical aid contributions for a ‘financial dependent’ the medical scheme fees tax credit applies in respect of fees paid by the person to a medical scheme.  This means that the person who is paying the medical aid will receive the medical tax credits, and not the dependent/member of the medical aid. 

Who is a ‘dependent’?...

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Some common (and sometimes forgotten) tax deductions

Posted 19 July 2019

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 overlooking these seven common tax breaks.

Contributions towards a Retirement Annuity

Your contributions towards retirement funds are deductible for tax up to a limit of 27,5% of the greater of your taxable income or remuneration (to a maximum of R350,000 per year).  This limit applies to the total contributions you make to any Pension, Provident or Retirement Annuity (RA) fund during the year...

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Why is SARS requesting my supporting documents again?

Posted 18 July 2019

Why is SARS requesting my supporting documents again?

TaxTim is seeing cases where taxpayers who had already submitted their documents in early July to SARS are, around ten days to two weeks later, receiving a further two letters from SARS requesting documents again. The one letter is the generic letter with the long list of documents, which was originally issued, while the second, contains a more specific request relating to the taxpayer’s tax return. 

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What should I do if I have no assessment from SARS after having filed a return?

Posted 11 July 2019

Usually SARS issued an immediate assessment, however sometimes they do need to do a further manual check on their side. Often the reason for this is one of the following:

  • They are missing an IRP5/IT3a due to you having transferred a lumpsum between any retirement funds. For example if you changed jobs during the year or withdrew your lumpsum from a Pension/Provident or Retirement Annuity Fund then you should have been issued an IRP5/IT3a;


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Blog Categories


Do your
Tax Return in
20 minutes
or less!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started