How is Commission Taxed? 3 Ways Your Company Taxes Commission

Posted 23 June 2020

Our helpdesk receives hundreds of questions related to tax where commission is involved. A misconception that comes up time

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FAQs: Tax Clearance or Tax Compliance Status (TSC)

Posted 22 June 2020

1. I need an actual tax clearance certificate, but each time I apply I am sent a PIN. Can you help me print the certificate?

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FAQs: Retrenchment

Posted 15 June 2020

Thousands of people have lost their jobs as a result of the Covid-19 pandemic and the nationwide lockdown to slow the spread of the disease.

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Cryptocurrency Income: Yes, you should be declaring it on your tax return!

Posted 2 June 2020

As most of us know by now, cryptocurrency is not real but virtual money.

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Navigating around your Capital gains tax certificate (IT3C)

Posted 15 May 2020

If you have shares (financial instruments) , there is important information on your IT3C tax certificate which needs to be included in your tax return.

This will ensure your taxable income is calculated accurately with the correct capital gain or loss included. 

Do you have shares at any of the following institutions?...

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FAQs: 'Other Deductions' that you may be able to claim in your tax return

Posted 13 May 2020

There is a section in the tax return called ‘Other Deductions’ which often causes confusion for taxpayers

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What Medical Expenses Can You Claim Back from Tax

Posted 13 May 2020

Medical expenses are nothing to sneeze at. Private medical treatment is increasingly pushing the limits of medical aid scheme

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Navigating around your Investec investment tax certificate (IT3c)

Posted 12 May 2020



1. This is the proceeds i.e  the value that your shares were sold for. This amount needs to be entered as proceeds in the  capital gains section of your tax return.

2. This is the base cost i.e the costs attached to the sale of your shares. This amount needs to be entered as the base cost in the  capital gains section of your tax return....

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Navigating around your Momentum tax certificate (IT3c)

Posted 12 May 2020


1. Opbrengs/Proceeds i.e  the value that your shares were sold for. This amount needs to be entered as proceeds in the  capital gains section of your tax return.

2. Basiskoste/Base Cost i.e the costs attached to the sale of your shares. This amount needs to be entered as the base cost in the  capital gains section of your tax return.

...

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News Alert: Tax Season 2020

Posted 8 May 2020

On Tuesday evening, the SARS commissioner, Edward Kieswetter, held a media briefing to talk about the challenges that SARS is facing due to Covid-19.

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Do I earn enough to have to pay tax?

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?

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FAQs: Travel expenses and Tax

Posted 22 April 2020

Travel expenses and their tax impact are a complex issue for many. It’s no surprise that it’s a common theme on our Helpdesk.

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Tax Breaks For All

Posted 21 April 2020

What?

1.Rebates

Who?
Everybody

Primary, secondary, and tertiary rebates – depending on your age.

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The Tax Refund Myth: Why aren't I getting anything back?

Posted 20 April 2020

Every year there arises a misconception amongst taxpayers that a tax refund or 'tax rebate', as it is incorrectly known to many,

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7 Types of Tax Directives

Posted 19 April 2020

Imagine you’re an estate agent or luxury car salesman. Chances are that you don’t earn much (if anything) as a basic salary

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Promised a Guaranteed Tax Refund? Be Afraid - Be Very Afraid

Posted 16 April 2020

Guarantees are pretty powerful – they’re used by leading manufacturers and retailers to gain our confidence and trust.

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FAQs: Donations and Tax

Posted 15 April 2020

Have you recently received a present or a donation from a wealthy family member or a friend? Or, maybe you've just donated money to support a child in need?

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How to know if an email from SARS is safe or scam

Posted 15 April 2020

Recently we have noticed emails that appear to have been sent from SARS, and that might look like legitimate SARS correspondence, but are not.

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Who's (Legally) Allowed to File Your Tax Return?

Posted 12 April 2020

Tax isn’t the easiest of subjects to navigate. Besides the long list of legalese to master, there’s the fact that tax legislation

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How does Pay-As-You-Earn (PAYE) work?

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.

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I worked for less than a year: Do I still need to submit a tax return?

Posted 10 April 2020

If you worked for less than a year, you may be confused as to whether or not you are required to submit a tax return.

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Multiple Employers, Multiple PAYE payments. Yet I still owe SARS?

Posted 9 April 2020

We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:

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Why is SARS asking me for outstanding tax returns?

Posted 9 April 2020

When did this happen?

Previously, assuming that SARS did not request any documents for verification and everything for the year was accepted

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10 Ways to Spend Your Tax Refund

Posted 8 April 2020

It’s tax season, and one of the most compelling reasons to file a tax return (besides the fact that it’s the law, of course) is the chance that you’ve

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Provisional Tax FAQs

Posted 6 April 2020

What is a provisional tax?
Provisional tax is paid by people who earn income other than a salary / traditional remuneration paid by an employer.

How do I convert from a provisional taxpayer to a regular taxpayer? OR How do I de-register as a Provisional Taxpayer?
Your tax number stays the same, just make sure that it has not been deactivated. This has happened in some cases. You will also need to de-register as a Provisional Taxpayer (this won’t affect your tax number) You can do this on eFiling by going to the Home Tab and clicking Tax Types and de-registering there. This will mean you are only a "regular" taxpayer...

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