Written by Nicci
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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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?
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Written by Nicci
Posted 21 April 2020
Written by Marc
Posted 20 April 2020
Written by Vee
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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Written by Vee
Posted 16 April 2020
Written by Nicci
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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Written by Vee
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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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.
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Written by Nicci
Posted 9 April 2020
We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:
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Written by Vee
Posted 8 April 2020
Written by Nicci
Posted 23 March 2020
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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Written by Nicci
Posted 14 October 2019
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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Written by Patrick
Posted 9 October 2019
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 ... 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: 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.... We receive many queries from confused taxpayers who are disappointed to see their tax refunds are smaller than the refund received last year. 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. Have you ever started one of those ‘oh, this’ll be easy’ Do-It-Yourself jobs, only to find yourself utterly frustrated half-way through wondering - what was I thinking? Pieces of wood cut just a few millimetres short of what they should’ve been. Holes drilled in the wrong places. Screwdrivers in every size except the one you need, missing bolts or the wrong colour paint! These DIY disasters can land up costing you much more time and money to salvage (or in the w...
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Verification of Assessment - what now?
Written by Marc
Posted 25 September 2019
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Return Status ‘Filed through Branch’ " What Does This Mean?
Written by Nicci
Posted 13 September 2019
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Making payments to SARS
Written by Nicci
Posted 5 September 2019
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SARS has done a ‘simulated calculation’ for me " what does this mean?
Written by Nicci
Posted 19 July 2019
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Why is SARS requesting my supporting documents again?
Written by Nicci
Posted 15 July 2019
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What should I do if I have no assessment from SARS after having filed a return?
Written by Marc
Posted 11 July 2019
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File by 31 October or face heavy fines and potential legal action!
Written by Nicci
Posted 11 October 2018
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Why have I received a smaller tax refund from SARS this year?
Written by Marc
Posted 23 July 2018
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What to expect after submitting your tax return to SARS
Written by Marc
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.
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How Do Taxpayers Feel About The Proposed New Filing Deadline?
Written by Nicci
Posted 28 May 2018
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. ...
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The Dangers of DIY Tax: How to Avoid Disaster
Written by Vee
Posted 13 November 2017
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