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 might be surprised when you file your tax return and find out you owe SARS money.
Read on to find out why..
What Is the Two-Pot Retirement Syste...
Written by Nicci
Updated 15 April 2025
Consult the image below to find all the tax-related information on your IRP5 that you will need when completing your annual tax return.
Written by Vee
Updated 10 April 2025
Medical expenses are nothing to sneeze at. Private medical treatment is increasingly pushing the limits of medical aid scheme
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Written by Evan
Updated 1 August 2024
Has SARS asked you for documents that you can't produce, such as an old IRP5 from a prior year that your employer doesn't have, or that simply doesn't exist?
To prove to SARS that you cannot produce the document they want, you will need to produce what is called a sworn affidavit.
This is basically a letter that you must write, that you then take to your nearest police station to get signed and stamped.
Items to include:
1. Your name, ID number and contact details...
Written by Evan
Updated 20 July 2024
SARS 2024 tax season dates:
15 July 2024 to 21 October 2024: individual (non-provisional) taxpayers
15 July 2024 to 20 January 2025: provisional taxpayers
If you earn less than R500 000 in a year, and fulfill a series of complicated criteria, you may not have to file a tax return in 2024.
However, we advise you to take GREAT CARE here, and understand your duties properly, because if you don't, you may suffer for it later on.
Here are the top 5 reasons why you should not skip filing your tax return this season:
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Written by Marc
Updated 16 July 2024
When it comes to tax jargon, most people prefer to bury their heads in the sand instead of trying to understand all the confusing terms that tax practitioners use. Taxpayers just want to do their tax quickly and easily, and if they’re due - receive some money back from SARS. A lot of confusion surrounds the process, but by understanding three simple terms you can make tax season a little bit easier.
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Written by Neo
Updated 27 June 2024
You may be employed by someone, but for one reason or another- you don't receive an IRP5 and no amount of begging or pleading
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Written by Nicci
Updated 27 May 2024
Received your IRP5 or IT3(a) but unsure what it all means? Here’s a quick introduction to help you understand this tax document.
Your IRP5 starts with your personal details. While these details won’t override what SARS has on record, it’s important to check them and update any outdated information with your employer.
Your ...
Written by Neo
Updated 20 March 2024
Exempt or non-taxable income refers to certain types of income, which is not subject to income tax.
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Written by Vee
Updated 19 March 2024
When pursuing a business activity, trade or renting out a property, you’re no doubt doing so to make some money, but the reality for self-starters
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Written by Vee
Updated 19 March 2024
You’ve been up since 4am in order to catch yet another red-eye flight for a 9am business meeting - 1,400km away - and you’re already onto your third coffee by the time you board the plane.
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Written by Neo
Updated 22 January 2024
1. Keep an accurate record of revenue and expenses
You can draw up these records by way of a simple spreadsheet based on your invoices and then confirm these amounts by cross-checking them against your bank statement.
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Written by Alicia
Updated 22 November 2023
Written by Marc
Updated 21 November 2023
When a Tax Return is filed usually SARS issues an immediate assessment (ITA34), however sometimes they do need to do a further manual check on their side.
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Written by Alicia
Updated 14 June 2023
Last year, we noticed that many taxpayers filed their tax returns before the tax season officially began (i.e July). However, doing so caused delays and problems with their tax refunds.
There are only three specific instances where you can file your tax return (ITR12) directly on eFiling before tax season starts:
Written by Neo
Posted 12 January 2022
Perhaps you just tried to submit your tax return and you instantly got an error relating to 3696 and 3699. As frustrating as it could be, don’t worry the error can be fixed. Maybe, you might have just simply left an amount out. Let’s have a look at what you should do, in order to crack these codes correctly – in that way making filing much more easier for you.
You’ll need to check your IRP5 to make sure you answered TaxTim's questions for these amounts correctly. Your IRP5 can show one or more amounts with source codes describing the income you received from your employer that year. ...
Written by Evan
Posted 28 December 2021
SARS charges interest on late payments made toward provisional tax deadlines.
To calculate this late payment penalty, use the formula below:
Provisional tax amount x 7% x (days after deadline / 365)
Use the calculator below:
Written by Neo
Posted 18 August 2021
These tips are part of TaxTim's personalised recommendation tool called the Tax Health Score. Once you file your tax return with TaxTim,
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Written by Neo
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 Vee
Posted 18 January 2021
For those fortunate enough to receive bonus payments as part of your remuneration, you’ll understand the
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Written by Neo
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 Marc
Posted 20 April 2020
Written by Vee
Posted 16 April 2020
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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