SARS & eFiling: 10 most popular posts
What you need to know about SARS auto assessments
Posted 30 June 2020
1. What is an auto-assessment?
This is an automatic assessment issued by SARS to certain taxpayers. SARS will use data collected from employers, financial institutions, medical schemes, retirement annuity fund administrators and other 3rd party data providers to generate the assessment automatically, without any input from the taxpayer.
2. Why has SARS introduced this process?
This process was started in 2019 – however, it has been expanded on this year in response to the Covid-19 pandemic and the need for physical distancing. It is intended to remove the need for taxpayers to travel to branches to file returns there....
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FAQS: SARS eFiling
Posted 25 May 2020
Filing a tax return for the first time can be a daunting task. To get you started, we’ve gone back to basics
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Why do I owe SARS more money?
Posted 13 May 2020
Once you’ve completed filing your tax return, it’s possible to find that instead of getting money back
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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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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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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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I work for someone, but did not receive an IRP5 - what should I do?
Posted 14 April 2020
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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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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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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5 Reasons you Still Need to File your Tax Return
Posted 4 April 2020
SARS announced that 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 2019.
Previously, SARS had communicated that if you earn less than R350 000 in a year you may not have to file a tax return.
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 not to skip filing your tax return this season:
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How to calculate totals under source codes 3696 and 3699
Posted 2 April 2020
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...
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Covid 19: What to do when you have to go to a SARS branch?
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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9 Steps to File an Objection to Your Tax Assessment
Posted 18 March 2020
You’ve been diligent with your tax obligations. You’ve paid your PAYE each month without fail. You’ve kept all the supporting documents for your deduction claims. You’ve carefully filled out your tax return, making sure you’ve put all the right amounts in all the right places, against all the right codes. (Pssst, if you used TaxTim to help you complete your tax return you wouldn’t have had to worry about all the right places and codes that’s all automated for you!) You file your tax return, somewhat impressed with yourself and, by your calculations, you can look forward to a reasonable tax refund amount. Then you get your assessment notification.
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How to Change/Verify Your Bank Details at SARS
Posted 15 March 2020
SARS has recently issued a new guide with regards to updating your banking details with them. This was done in order to reduce the risk of refunds being paid into the wrong accounts and also to streamline the process, which has tended to be an onerous one in the past.
Change of bank details can be done:
- in person at a SARS branch (SARS still prefers this way)
- via eFiling (Go to Maintain Taxpayer Registered Particulars Menu) Note, you will still need t...
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Sole Proprietor or Company: What's Best for Tax?
Posted 9 March 2020
Getting a new business venture off the ground is an equally exciting and stressful time. You’re enthusiastic about getting your new product or service out into the market, but you face quite an administrative process to get it off the ground legally.
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Why don't I get a tax deduction for Out of Pocket Medical Expenses?
Posted 29 February 2020
Tax season always throws up some interesting and confusing calculations, but for many, the most confusing of all is how medical aid contributions and Out of Pocket medical expenses are treated.
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Unemployed Periods
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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SARS terminates Tax Clearance Certificates from October 25th
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.
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