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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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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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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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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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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We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:
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Taxpayer's Full Name
Address
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At TaxTim, we receive many questions from taxpayers about retirement funds and tax.
One of the biggest benefits of contributing towards a retirement fund is the tax break.
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The national lockdown due to the Covid-19 virus is undoubtedly wreaking havoc on the economy. Small businesses have been hard hit – many not knowing if they will have sufficient cash flow to resume operations when things eventually return to normal.
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It’s not all doom and gloom when it comes to the rising costs of medical expenses. You can expect some tax relief if you contribute to a medical aid and if you spend a certain amount on ‘out of pocket’ expenses.
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Quarantine. Self-isolation. Coronavirus. These are the buzzwords for 2020, and once it is all over, words we’ll probably never want to hear again. In light of Covid-19, TaxTim offers the safest way to handle your taxes - online.
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The Minister delivered some good news to South Africans yesterday when he announced there would be no significant tax hikes
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All eyes will be on Finance Minister, Tito Mboweni, tomorrow when he delivers his budget speech on Wednesday, 26 February to the nation.
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By Rowan Burger from Momentum Investments
The benefits of saving your money are well known and encouraged by many financial institutions
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President Cyril Ramaphosa addressed South Africa for the fourth time on Thursday, 13 February 2020. The event commemorated the 30 year anniversary of Nelson Mandela’s release from prison. As of 1 March 2020, South Africans working abroad will have to comply with the amended laws on expat tax. Amendments to the Income Tax Act includes the exemption of taxes up to the first R1 million per annum. 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. 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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Expat Tax
Posted 14 February 2020
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TaxTim in People Magazine: Money Talks
Posted 7 January 2020
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'Rejection of Revised ITR12' - but my return is already finalised!
Posted 28 November 2019
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File by 4th of December to avoid penalties
Posted 22 November 2019
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