TaxTim's Blog
Who's (legally) allowed to file your tax return?
Tax isn’t the easiest of subjects to navigate. Besides the long list of legalese to master, there’s the fact that tax legislation(endpreview) evol
Read moreHow does Pay-As-You-Earn (PAYE) work?
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.(endpreview) All it really mea
Read moreI worked for less than a year: Do I still need to submit a tax return?
If you worked for less than a year, you may be confused as to whether or not you are required to submit a tax return.(endpreview) It seems like a tedious task f
Read moreMultiple 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:(endpreview) They work for two employers during the year, pe
Read more10 ways to spend your tax refund
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&
Read moreProvisional tax FAQs
What is a provisional tax? Provisional tax is paid by people who earn income other than a salary / traditional remuneration paid by an employer. How do I convert
Read moreMedical aid contributions paid on behalf of a dependent
DateTaxpayer's Full NameAddress(endpreview) To Whom It May Concern, Subject: medical aid contributions paid on behalf of a dependantThis letter serves
Read moreSpecial economic zones
Special Economic Zones (SEZ’s) are certain designated areas of a country demarcated by the government for special targeted economic activities. These are
Read moreFAQs: Retirement funds and tax
At TaxTim, we receive many questions from taxpayers about retirement funds and tax. One of the biggest benefits of contributing towards a retirement fund&
Read moreCovid 19: Unpacking the tax relief for small businesses
The national lockdown due to the Covid-19 virus is undoubtedly wreaking havoc on the economy. Small businesses have been hard hit – many not knowing
Read moreFAQ�s: Medical expenses and taxes
It’s not all doom and gloom when it comes to the rising costs of medical expenses. You can expect some tax relief if you contribute to a medical aid and i
Read moreCovid 19: What to do when you have to go to a SARS branch?
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 ligh
Read moreBudget 2020: Unexpected relief for taxpayers!
The Minister delivered some good news to South Africans yesterday when he announced there would be no significant tax hikes(endpreview) – in fact, there w
Read moreBudget prediction 2020: More dark days ahead?
All eyes will be on Finance Minister, Tito Mboweni, tomorrow when he delivers his budget speech on Wednesday, 26 February to the nation.(endpreview) Agains
Read moreOverview on tax free savings versus retirement annuity
By Rowan Burger from Momentum Investments The benefits of saving your money are well known and encouraged by many financial institutions(endpreview) , with ma
Read moreState of the Nation Address - SONA 2020
President Cyril Ramaphosa addressed South Africa for the fourth time on Thursday, 13 February 2020. The event commemorated the 30 year anniversary of Nelson Man
Read moreExpat tax
As of 1 March 2020, South Africans working abroad will have to comply with the amended laws on expat tax. Amendments to the Income Tax Act includes the exemptio
Read moreTaxTim in people magazine: Money talks
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Read moreRejection of revised ITR12 - but my return is already finalised
There seem to be many confused taxpayers who have received a letter from SARS titled ‘Rejection of Revised ITR12’ which goes on to say that their re
Read moreFile by 4th of december to avoid penalties
The deadline for non-provisional taxpayers to file their tax return is just around the corner. Taxpayers have until 4th December to submit their retur
Read morePay your taxes by 4 December or face the consequences
The deadline for 2019’s tax season is 4 December, just less than a month away, so it’s time to seriously focus on your tax returns. Last week, Tito
Read moreMy medical aid is paid by my former employer: How does this affect my tax?
When you retire, your soon to be ‘ex-employer’ might offer to continue to pay your medical aid. If you are one of the fortunate few to receive such
Read moreUnemployed periods
A few years ago, SARS introduced a new section onto the Tax Return called “Unemployed Periods.” Taxpayers are required to complete this section by e
Read moreTop Questions on tax and marriage
We receive many questions from taxpayers about how to declare their income in the event that they are married in Community of Property (CoP). (endpreview) Hopef
Read moreSARS terminates tax clearance certificates from October 25th
From the 25th October 2019, the printed Tax Clearance Certificate (TCC) will be substituted by the electronic Tax Compliance Status (TCS). This new digital vers
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