TaxTim's Blog
Renewable energy incentives for businesses
The enhanced tax incentive recently introduced by the government, known as Section 12BA, aims to promote private investment in electricity generation from renew
Read moreWhy you may owe tax on two-pot withdrawals
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 r
Read moreUnderstanding the assets and liabilities section in your tax return
The assets and liabilities section in the annual tax return (ITR12) needs to be completed if you: earn self-employment income or are an independent contracto
Read moreWhat are shares?
Shares represent ownership in a company. When you buy shares, you become a shareholder — meaning you own a small part of that company. Companies issue sha
Read moreInvesting 101: What is a bond?
A bond is essentially a loan you give to a company, a municipality, or the government. It is a type of investment. When you buy a bond, you are lending money&md
Read moreForeign employment exemption letter
COMPANY LETTERHEAD DateEmployee's Full NameAddress To Whom It May Concern,Subject: Confirmation of foreign employmentThis letter serves to confirm that__
Read moreFAQ: Provisional tax
1. How many returns should I file each year if I am a provisional taxpayer? You are required to file 3 returns i.e. 2 provisional tax returns (IRP6s) and
Read moreI missed filing the first provisional return - what should I do?
Provisional tax can be confusing, especially when it comes to the timing of payments. If you miss the first payment, do you need to catch it up, or can you just
Read moreWhy your estimated provisional tax may differ from your SARS Statement of Account
TaxTim uses the financial information which you entered to work out the payment due on your provisional tax return (also called an IRP6). However, there m
Read moreWhere can I find my provisional tax payment details?
During the final days of the provisional tax season, high traffic volumes may cause delays in submitting provisional tax returns to SARS—even after you've
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How to cruise through a travel audit efficiently
Surely most of us love to travel, but traveling for business purposes is no fun when it comes to completing your tax return. SARS has some rather onerous requi
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FAQs: Travel expenses and tax
Travel expenses and their tax impact are a complex issue for many. It’s no surprise that it’s a common theme on our Helpdesk.(endpreview) We&rs
Read moreFinding your way around a SARS IRP5
Consult the image below to find all the tax-related information on your IRP5 that you will need when completing your annual tax return. PAYE number Income s
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What medical expenses can you claim back from tax
Medical expenses are nothing to sneeze at. Private medical treatment is increasingly pushing the limits of medical aid scheme(endpreview) benefits and our walle
Read moreWhat to do if your SARS document is blank
Unfortunately, some of the SARS documents cannot be viewed online (i.e. from within your internet browser). You can work around this issue by downloading the SA
Read moreTax on Pension Annuites
When you retire, you’ll have a few options for how to access your retirement savings. You can take up to one-third of the total amount as a cash lump sum
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Cryptocurrency Income: Yes, you should be declaring it on your tax return!
As most of us know by now, cryptocurrency is not real but virtual money.(endpreview) Any income received or accrued from cryptocurrencies are taxable because S
Read moreHow to request a provisional tax Statement of Account on eFiling
If you're a provisional taxpayer, you can request a statement of your provisional account on eFiling. However, instead of finding it on your Income Tax workpage
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Section 12H learnership allowance
Training and development for employees plays a vital role in the growth and success of your business. But, finding affordable and correct tools might be where t
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FAQs: Donations and tax
Have you recently received a present or a donation from a wealthy family member or a friend? Or, maybe you've just donated money to support a child in need? (en
Read moreThe ins and outs of donations tax
Have you been the lucky recipient of a gift or donation from a generous family member or friend? Perhaps they struck it lucky on the Lotto and decided to share
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WIN up to R10,000 with TaxTim in 2026
TaxTim has TWO exciting competitions in 2026 ! COMPETITION 1: Win R10,000 in cash by filing your tax return with TaxTim How to enter: (endpreview) Regist
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Provisional tax penalties
Seasoned provisional taxpayers – those people who earn income from sources other than, or in addition to a regular ol' salary or traditiona
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Retirement funds
This week we received some questions from our users on retirement fund contributions and the laws that govern it. We hope that this helps you as you start gathe
Read moreSequestration and tax
What is Insolvency? Insolvency is a state of financial distress when a person or business is unable to pay their debts. What is Sequestration? Sequestr
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