Imagine you’re an estate agent or luxury car salesman. Chances are that you don’t earn much (if anything) as a basic salary
Read more →
Recently we have noticed emails that appear to have been sent from SARS, and that might look like legitimate SARS correspondence, but are not.
Read more →
Tax isn’t the easiest of subjects to navigate. Besides the long list of legalese to master, there’s the fact that tax legislation
Read more →
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 →
We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:
Read more →
When did this happen?
Previously, assuming that SARS did not request any documents for verification and everything for the year was accepted
Read more →
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.
Read more →
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.
Read more →
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. When SARS has completed their audit, they send a letter called a Verfication of Asssment/Completion Letter. This has the following wording: VERIFICATION OF ASSESSMENT We refer to the verification of the assessment for the 20xx tax period. Please note that no adjustment has been made to this assessment. However, in terms of the Tax Administration Act the South African Revenue Service reserves the right to conduct further reviews in ... 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. We’ve recently received many questions from taxpayers asking us if we physically went into a SARS office to submit their returns manually. 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. 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 ... 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. 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: We receive many queries from confused taxpayers who are disappointed to see their tax refunds are smaller than the refund received last year.
Read more →
Verification of Assessment - what now?
Posted 25 September 2019
Read more →
I've never been audited before. Why now?
Posted 17 September 2019
Read more →
Return Status ‘Filed through Branch’ " What Does This Mean?
Posted 13 September 2019
Read more →
Making payments to SARS
Posted 5 September 2019
Read more →
SARS has done a ‘simulated calculation’ for me " what does this mean?
Posted 19 July 2019
Read more →
Why is SARS requesting my supporting documents again?
Posted 15 July 2019
Read more →
What should I do if I have no assessment from SARS after having filed a return?
Posted 11 July 2019
Read more →
File by 31 October or face heavy fines and potential legal action!
Posted 11 October 2018
With the tax season shortened this year by 3 weeks, the deadline to file by 31 October is just around the corner. SARS announced that it will be clamping down on taxpayers who miss the deadline to submit their tax return. Besides stating that they will impose monthly fines for late tax returns, they have even gone so far as threatening criminal prosecution and time behind bars for unpaid tax debt, just as many of us have witnessed with the recent celebrity headlines....
Read more →
Why have I received a smaller tax refund from SARS this year?
Posted 23 July 2018
Read more →
What to expect after submitting your tax return to SARS
Posted 23 June 2018
As soon as tax season opens in July, many taxpayers rush to submit their ITR12 tax returns as early as possible, eagerly hoping for a nice refund.
Read more →
How Do Taxpayers Feel About The Proposed New Filing Deadline?
Posted 28 May 2018
On Monday 21st May, TaxTim conducted a simple survey of taxpayers who make use of the TaxTim services about their opinion on SARS’ proposal to shorten the tax filing season by 3 weeks.
An email was sent out containing the following:
“SARS recently published a Draft Notice of who needs to file a tax return and when tax returns will be due for the 2018 tax season. SARS are planning to move the submission deadline 3 weeks earlier to 31st October 2018 for all non-provisional taxpayers. ...
Read more →
Older posts →← Newer posts
1 2 3 4
Do Your Tax Return Easily