Written by Marc
Updated 13 July 2025
Tax season always throws up some interesting and confusing calculations, but for many, the most confusing of all is how medical aid contributions and Out of Pocket medical expenses are treated.
Read more →
Written by Nicci
Posted 14 May 2025
South Africa introduced the Two-Pot Retirement System to help people access part of their retirement savings before retirement age, while keeping the rest for retirement. It's a helpful system – but it comes with tax rules that can surprise some people.
If you withdrew from your Two-Pot in the tax year, you need to include the details of this withdrawal in your annual tax return. The fund should have issued you an IRP5/IT3a tax certificate which reflects the withdrawal amount (source code 3926), related tax as well as the tax directive number issued by SARS...
Written by Nicci
Updated 24 April 2025
COMPANY LETTERHEAD
Date
Employee's Full Name
Address
To Whom It May Concern,
Subject: Confirmation of foreign employment
This letter serves to confirm that____________________________(Name of employee) _______________________(ID number) is employed by __________________________(company name) in the capacity of__________________________(position).
He/she is contracted to work overseas in _______________ (country) from ______________dd/mm/yy to ________________dd/mm/yy. ...
Written by Patrick
Updated 12 March 2025
2026 tax year (1 March 2025 - 28 Feb 2026) same as 2025 tax year, no changes.
2025 tax year (1 March 2024 - 28 Feb 2025) same as 2024 tax year, no changes.
Written by Marc
Updated 4 August 2024
Taxpayers this year are facing a new gripe with SARS when it comes to receiving those well-earned refunds. The current two scenarios are:
In both these cases a refund should be paid out within 72 hours (if the taxpayer is due one), however thousands of taxpayers still have not been paid their refund. Here’s why!...
Written by Evan
Updated 4 August 2024
In 2024, we have noticed that SARS is withholding refunds from taxpayers with outstanding tax returns, sometimes dating back many years. In some cases, SARS is requesting unfiled returns from as far back as 10-15 years ago, going back to when the taxpayer first registered for a tax number.
Block on eFiling submissions older than 5 years
This year, SARS introduced a change to eFiling that has frustrated many taxpayers. Returns older than five years are now blocked from being submitted on individual profiles, prompting a message that these must be filed at a branch.
Don't worry - TaxTim can help...
Written by Alicia
Posted 10 April 2024
In today's digital age, social media influencers wield significant influence and often enjoy lucrative partnerships with brands. However, amidst the glitz and glam, it's crucial for influencers to be aware of their tax obligations. In this blog post, we'll explore the tax consequences that social media influencers need to consider in South Africa.
Understanding Tax Obligations
As a social media influencer in South Africa, it's essential to recognize that...
Written by Patrick
Posted 25 February 2021
The Minister delivered some welcome news to South Africans yesterday when he announced that plans to hike taxes by R40 billion rand over the next four years, have been scrapped. This is largely attributed to a surge in tax revenue from mines, as well as a faster than expected recovery in VAT collections towards the end of last year.
He went on further to say, that there would be no significant tax increases at all in the year ahead. Contrary to speculation, the much-anticipated Covid-19 vaccination programme will not be funded by tax hikes...
Written by Nicci
Posted 22 February 2021
What is an IRP5?
An IRP5 is the employee's tax certificate that is issued to him/her at the end of each tax year detailing all employer/employee related incomes, deductions, and related taxes. The employee uses it specifically to complete his/her income tax return for a specific year.
Do I need an IRP5?
Yes, you do if you were employed during the tax year.
Can I submit a return without an IRP5? OR Am I able to submit returns without my IRP5? OR Are you able to submit without the IRP5?...
Written by Marc
Posted 23 April 2020
Why must I pay tax, I don’t earn enough! Will I get a penalty if I don’t disclose all my income to SARS?
Read more →
Written by Marc
Posted 10 April 2020
You may have seen the word PAYE on your IRP5 payslip or heard it mentioned by your employer, but have no idea of its meaning.
Read more →
Written by Nicci
Posted 9 April 2020
We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:
Read more →
Written by Nicci
Posted 6 March 2017
Written by Marc
Posted 22 February 2017
Personal Tax Rates (rates below)
Individuals across the country, those qualifying above the new tax threshold of R75 750 (previously R75 000) will be paying increased taxes of R16.5bn (previously R5.65bn in actual tax increase) for the next tax year, most of this will be for high income earners, however. Taxpayers generally across the board will be earning the tiniest bit more money each year as their tax brackets...
Written by Vee
Posted 25 February 2016
The 24th of February 2016 was supposed to be a watershed moment for the Economy of South Africa. The old-new Minister of Finance, Pravin Gordhan, was to deliver his budget for the 2016/2017 tax year and save South Africa from a financial pit-fall in the form of an International Ratings Agency downgrade. The jury is still out on whether or not this is possible. Immediately after the budget was revealed the Rand tumbled 2%, which doesn’t bode well for market sentiment. However, ...
Written by Vee
Posted 24 February 2016
Written by Marc
Posted 26 February 2015
Written by Marc
Posted 25 February 2015
New Finance Minister Nene delivers his first budget with some “better than expected” tax increases. The fight against corruption was highlighted with the minster announcing a series of reforms and procedures to be introduced both to curb corruption and make doing business with the state easier. The minister announced that R25bn would be saved in expenditure over the next two years, but R16.8bn is to be raised this year via tax increases and a remarkably large rise in the fuel and road accident fund levies. To be honest, we expected greater tax increases from the minister, thankfully he spared us some of the pain! ...
Written by Marc
Posted 22 May 2014
SARS, in their attempt to promote compliant taxpayers and maximise timely revenue collection, have traditionally imposed penalties for late filing of tax returns. In 2012 SARS upped their game significantly and imposed heavy fines for the following transgressions which still hold to today:
...
Written by Marc
Posted 26 February 2014
In delivering what could possibly be his last annual budget and perhaps in an election year a very pragmatic one, Minister Pravin Gordhan painted a rather positive picture for the future of South Africa, whilst at the same time warning of the impact the global economy is having on the South African economy. He too, had a “good story” to tell of how well managed the economy is and how we have survived the economic downturn of the last half decade. The minister, like his predecessors b...
Written by Marc
Posted 4 July 2013
Written by Marc
Posted 28 February 2013
Written by Marc
Posted 18 January 2013
Written by Marc
Posted 1 October 2012
South Africa is brimming with entrepreneurs and small business owners who keep the economy running. These people may or may not be earning a regular salary too, but all of them operate a non-registered business in their own name - a so-called sole-proprietorship. In this blog post we will discuss how such a business pays tax, how it is taxed, and how to separate personal and business affairs to make tax deductions correctly.
To register or not to register as a company?
...
Written by Marc
Posted 6 September 2012
If you have ever survived a SARS audit, you may have been issued with a "revised assessment" or second ITA34 that doesn't make much sense. It probably says that you now owe SARS some money, despite being due a refund. Don't be alarmed though, if you read lower down the new ITA34 you will find that in fact you are still due a refund, only it is probably smaller than before.
For example:
First IT34A (before audit):
SARS says: "Your assessment has been concluded and reflects an amount refundable to you of R-16 636.10"...
Do Your Tax Return Easily