TaxTim's Blog
Everything you need to know about tax-free savings
The South African government introduced tax-free savings back in 2015 to encourage household savings. As the name suggests, all of the proceeds from tax-free sa
Read moreBudget 2023: New energy tax incentives
Finance Minister, Enoch Godongwana, delivered his second budget speech to South Africans yesterday. The energy crisis played centre stage with the minister anno
Read moreHow to cash out your retirement annuity after emigrating from South Africa
Retirement annuities are tax-smart investments that help you to save for life after your nine-to-five. You generally can’t withdraw these funds before you
Read moreWhy have I received a SARS refund, before filing my tax return?
This year, SARS has once again ‘auto-assessed’ a large number of taxpayers. They have done this using data that they have received from 3rd par
Read moreSARS repeat reminders for supporting documents
If you received another email from TaxTim requesting SARS supporting documents, but you already sent these to SARS more than 21 business days ago, one of these
Read moreProvisional taxpayers: Â Unpacking your tax season deadline
Tick-tock, time is running out for non-provisional taxpayers to submit their 2022 tax return. The filing deadline of 24 October 2022 is just around the corner.
Read moreSARS has introduced a new online travel declaration system for South Africans & its residents.
The South African Revenue Service (SARS) says it will implement an "online traveller declaration system" that will go into effect on November 1, 2022. According
Read moreSome common (and sometimes forgotten) tax deductions
Too often, taxpayers rush when completing their tax return, and then they miss out on some expenses they are eligible to claim. Don’t overpay tax by overl
Read moreNew SARS ddeadlines for auto-assessments
From 1 July to 4 July, SARS aims to issue auto-assessments to taxpayers who are due a refund. The rest will be issued in batches up to 24 July. Timing is Ever
Read moreTax Season 2022
The 2022 filing season opens on 1 July. Tick tock. That’s just around the corner. It is important to be aware that the season is shorter than prior
Read moreSARS penalties: strict rules for 2022
SARS is warning that those who fail to submit their tax return on time, will face harsh penalties. The period of leeway which applied to 2021 has now passed. S
Read moreDigging into the detail of building allowances
The cement is all used up and the bricks have been laid exactly where they need to be. A huge sigh of relief because… finally, construction and renovatio
Read moreRenting out your home and the effect on capital gains tax
Our Helpdesk receives lots of questions from home sellers who rented out their primary residence for some of the(endpreview) time that they owned it. For
Read moreTax return due dates
There are various types of taxes with their own special return forms and deadlines. Quick Summary Tax Type Tax Form Submission Due Dates Personal
Read moreThe Public Servants Association (PSA) notifies SARS of strike action
The Public Servants Association (PSA) served SARS with a notice of strike action on Friday, 13 May 2022. The strike is due to take place on Wednesday, 25 May 20
Read moreYour social media posts might flag you with SARS
According to SARS commissioner Edward Kieswetter, some South Africans who came into money were eager to “display their wealth”, giving cause for SAR
Read moreSARS clamps down on crypto investors
For months, SARS has been clear about its plan to clamp down on crypto investors. While many may be under the impression that crypto is going under the radar, S
Read moreTop tips to prepare for the 2022 tax season
Ensure you have a tax number & eFiling profile If you have not registered for SARS eFiling or you don't have a tax number don’t worry, SARS has
Read moreTop tips for a successful home office claim
Let’s face it, SARS didn’t make it easy for taxpayers to claim their home office expenses this past tax season. We can’t blame them really - b
Read moreTax exemption for foreign employment income : What you need to know
If you think earning an income from a global source isn’t taxable on home soil, I’m afraid I have some bad news. Whether you’re earning Dollar
Read moreTax and Marriage go together, like a horse and carriage
When planning your wedding, it’s highly unlikely that anything related to tax features on your agenda. However, when saying “I do” it’s
Read moreFinance Minister Enoch Godongwana's budget speech 2022 Overview
Finance Minister, Enoch Godongwana, delivered his maiden budget speech on 23 February. The speech started by indicating that there are still high risks to the
Read moreBudget 2022: Some hope for consumers
All eyes were on Finance Minister, Enoch Godongwana, when he delivered his maiden budget speech to South Africans yesterday. Taxpayers breathed a sigh of relief
Read moreRetrenched? 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
Read moreYour retirement fund: Understanding the 2022 tax changes
Have you found yourself with a huge tax bill at the end of the tax year, and no money to pay it? SARS is making your life easier by changing the way it does tax
Read morePage 7 of 15
Showing 151–175 of 369 articles