TaxTim's Blog
Top tips for provisional taxpayers
1. Estimate your taxable income for the whole tax year Remember that both your first and second provisional return (IRP6) must reflect an estimate of your taxa
Read moreNew South African expat tax changes in 2021
In a bid to meet its tax revenue quotas, SARS began introducing changes to the expatriate laws which took effect on 1 March 2020, which saw the launch of the Fo
Read moreHaving problems with Adobe flash player forms on SARS e-Filing?
As early as July 2017, Adobe announced that Flash Player would be discontinued by 31 December 2020 and that Flash Player would block its Flash content by 12 Jan
Read morePossible tax hikes to cover the cost of Covid-19 vaccines
As many countries around the world are already in the process of distributing the Covid-19 vaccine, the National Treasury of South Africa is proposing the possi
Read moreTax on bonus payments: How does it work?
For those fortunate enough to receive bonus payments as part of your remuneration, you’ll understand the(endpreview) frustration of seeing one amount on y
Read more"Emergency Notification System" - it's a scam!
There is a new scam going around this tax season, SARS has made us aware of it and we would like to make sure you know about it too.(endpreview) Please be caref
Read moreWhat is gap insurance & why is it so valuable to have?
When you are in the process of selecting a medical aid, the question of adding gap cover to your plan is likely to come up. More than 1 million South African fa
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SARS asked for my documents again. Why?
We are seeing many cases where taxpayers submit their documents to SARS, wait 21 working days (sometimes longer) only to receive a second letter on eFiling whic
Read moreFAQs: Tax refunds
As the tax season is approaching, many of our users are asking whether or not they will be due a tax refund.(endpreview) If you have all of your tax certificate
Read more2020 Supplementary budget speech
On Wednesday, 24 June 2020, Minister of Finance, Tito Mboweni, addressed parliament to announce the 2020 Emergency Budget Speech.(endpreview) While he starts of
Read moreFAQs: Tax directives
A tax directive is super useful when you earn commission, variable income or are going to receive a large bonus or a lump sum. (endpreview) The tax directive is
Read moreHow is commission taxed? 3 ways your company taxes commission
Our helpdesk receives hundreds of questions related to tax where commission is involved. A misconception that comes up time(endpreview) and time again is that p
Read moreFAQs: Tax clearance or tax compliance status (TSC)
1. I need an actual tax clearance certificate, but each time I apply I am sent a PIN. Can you help me print the certificate?(endpreview) SARS is no longer issu
Read moreFAQs: Retrenchment
Thousands of people have lost their jobs as a result of the Covid-19 pandemic and the nationwide lockdown to slow the spread of the disease.(endpreview) It&rsq
Read moreNavigating around your capital gains tax certificate (IT3C)
If you have shares (financial instruments) , there is important information on your IT3C tax certificate which needs to be included in your tax return
Read moreFAQs: �Other deductions� that you may be able to claim in your tax return
There is a section in the tax return called ‘Other Deductions’ which often causes confusion for taxpayers(endpreview). Expenses in this section incl
Read moreNavigating around your Investec investment tax certificate (IT3c)
1. This is the proceeds i.e the value that your shares were sold for. This amount needs to be entered as proceeds in the capital gains section
Read moreNavigating around your Momentum tax certificate (IT3c)
1. Opbrengs/Proceeds i.e the value that your shares were sold for. This amount needs to be entered as proceeds in the capital gains section of your
Read moreNews alert: Tax season 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.(endpreview
Read moreDo 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?(endpreview) These questions are common and
Read moreTax breaks for all
What?1. Rebates Who? EverybodyPrimary, secondary, and tertiary rebates – depending on your age.(endpreview) A rebate is a set amount that SARS whacks off y
Read moreThe tax refund myth: Why arent I getting anything back?
Every year there arises a misconception amongst taxpayers that a tax refund or 'tax rebate', as it is incorrectly known to many,(endpreview) is due to them by d
Read more7 Types of tax directives
Imagine you’re an estate agent or luxury car salesman. Chances are that you don’t earn much (if anything) as a basic salary(endpreview) and you rely
Read morePromised a guaranteed tax refund? Be afraid - be very afraid
Guarantees are pretty powerful – they’re used by leading manufacturers and retailers to gain our confidence and trust.(endpreview) We’ve all c
Read moreHow to know if an email from SARS is safe or scam
Recently we have noticed emails that appear to have been sent from SARS, and that might look like legitimate SARS correspondence, but are not.(endpreview) These
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