Tax Refund Posts in TaxTim's Blog

Retrenched? Here’s how you will be taxed



In 2020, about 2.2 million jobs were lost in South Africa and in 2021, that number is expected to double as a result of Covid-19. With that, we have found that there are many questions surrounding the subject of taxes and severance packages. Here’s everything you need to know.

The Basic Conditions of Employment Act states that your severance pay should include at least one week’s worth of remuneration for every full year of work. Your severance package may consist of your ...

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Tax on your travel allowance after Covid-19 lockdown regulations




Do you receive a travel allowance from your employer because your job used to entail significant travel? As the Covid-19 pandemic hit and lockdown restrictions have curbed travel, you might be wondering how this will affect your taxes. Here’s what you need to know to avoid owing the taxman, even more, this tax season.

 

How does SARS tax my travel allowance?

Under normal circumstances, your employer would only offer you a travel allowance if your job requi...

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Budget 2021: No Tax Hikes




The Minister delivered some welcome news to South Africans yesterday when he announced that plans to hike taxes by R40 billion rand over the next four years, have been scrapped. This is largely attributed to a surge in tax revenue from mines, as well as a faster than expected recovery in VAT collections towards the end of last year.

He went on further to say, that there would be no significant tax increases at all in the year ahead. Contrary to speculation, the much-anticipated Covid-19 vaccination programme will not be funded by tax hikes...

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Why does SARS require manual intervention to finalise my return?




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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FAQs: Tax Refunds




As the tax season is approaching, many of our users are asking whether or not they will be due a tax refund.

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Do I earn enough to have to pay tax?




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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Multiple Employers, Multiple PAYE payments. Yet I still owe SARS?




We receive many questions to our Helpdesk from taxpayers who are faced with the following scenario:

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Top Questions on tax seasons




By now you would have seen the latest announcement by the SARS commissioner to increase the qualifying threshold for certain taxpayers

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What does a Completion Letter from SARS mean?



Completion Letter

You will receive a Completion Letter if all goes well and SARS is happy with your documents. This means that SARS is not adjusting your Original Assessment and if you have a refund due, it should be paid out in 7 working days (provided you have no tax debt due or outstanding tax returns from prior years). Similarly, if you owe tax to SARS per your Original Assessment, the amount you owe will remain unchanged.

An example of a...



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After all my documents submissions to SARS, they disallowed my expenses, why?




We are starting to see some common trends whereby taxpayers’ expenses are disallowed because the documents submitted are falling short of SARS’s requirements.  To avoid unnecessary frustration and time wasted in raising disputes, read on to see if any of these areas apply to you.

Travel deduction

In prior years, the submission of a logbook detailing your business mileage used to be sufficient to justify your travel claim. This year, SARS is re...

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Why have I received a smaller tax refund from SARS this year?




We receive many queries from confused taxpayers who are disappointed to see their tax refunds are smaller than the refund received last year.

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