Written by Alicia
Posted 30 April 2026
Pieter asked: I sold a property in 2020 which initially was my primary residence and later rented out. On my 2021 ITR12, I declared the sale but failed to indicate it qualified for primary residence relief. SARS taxed the full capital gain (~R44k paid). The objection period has lapsed. I’m now trying to correct this via Section 93 (reduced assessment) as a return completion error. What are my chances and best approach?
TaxTim Alicia said: In this case, since...
Written by Alicia
Posted 22 April 2026
Written by Alicia
Posted 22 April 2026
Good day
SARS is requesting documents that I have already sent to them, the only piece of information I havent supplied is the ID document and verified bank statement payment for my domestic worker. I currently pay my domestic worker in Cash, she is not registered as she only works every alternate day by me and never over the weekend or public holidays. How do I justify/verify this enough to make SARS happy? With regards to everything else. I have already supplied them with my credit card s...
Written by Patrick
Updated 25 February 2026
Written by Alicia
Posted 12 December 2025
Written by Alicia
Posted 11 December 2025
Written by Alicia
Posted 21 May 2024
Written by Nicci
Updated 29 April 2024
1. This is the gross base cost of all shares you bought through the institution. You must NOT use this value on your return.
2. This is the base cost i.e the costs attached to the sale of your shares. This amount needs to be entered as the base cost in the capital gains section of your tax return.
3. This is the...
Written by Nicci
Updated 20 March 2024
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 of your tax return.
2. This is the base cost i.e the costs attached to the sale of your shares. This amount needs to be entered as the base cost in the capital gains section of your tax return....
Written by Nicci
Updated 19 March 2024
With “flexible” employment being the new buzzword, more and more people are working part or all of the week from an office in their home.
Read more →
Written by Alicia
Posted 8 March 2024
In the Capital Gains section of the annual tax return (ITR12), SARS requires you to insert the relevant asset source code for the item you have sold. However, when you sell financial investments (e.g shares) the financial institution issues an IT3(c) which shows the profit/loss source code (i.e4250/4251) and not the asset source code. This causes confusion for taxpayers, who think th...
Written by Nicci
Updated 21 April 2022
I have 2 questions
Question 1: My wife sometimes transfers some money into my account to pay a certain bill. The amounts total less than R100,000, it is never anything above that. Do I need to declare this under the TaxTim section question "Did you earn or receive any other money that you think should NOT be taxed?"? Will I be taxed on that amount?
Question 2: I sold my car and bought another car. Do I need to declare the amount I received after settling the remaining insta...
Written by Nicci
Updated 21 April 2022
I have the option to participate in an employee share option scheme, but I'm a little unclear on the tax implications. I high-level view is as follows:
Options will be granted at an agreed price (e.g. R1)
The options will vest over a four year period (annually)
Once vested, I would be able to exercise the right to purchase and retain shares or sell to a willing buyer because the company is private, it may not always be easy to find a willing buyer (e.g. At the end of each year), and I may also not have funds available to purchase the shares myself. My main question is around when would I become liable for tax?...
Written by Nicci
Updated 20 April 2022
My wife and I got married last year on the 26th of March 2018. We got married in community of property, so when it comes to tax what I would like to understand is whether we will both need to do our tax differently this year and also, I would like to find out what would the implications on our tax returns be like?
Written by Evan
Updated 6 April 2022
Written by Marc
Posted 6 April 2022
One of the questions most asked when it comes to tax season, is “what happens now that I’ve submitted my income tax return, when do I get my refund?”’
If you’re due a tax refund then you will probably get the money deposited into your account within a few days. SARS will also email or SMS you telling you that an IT34 (Summary of your return and refund) and ITSA (Income Tax Statement of Account) have been issued. They will detail your tax refund (tax back) if any. So look forward to that deposit into your account. ...
Written by Marc
Posted 5 April 2022
Q: How do I pay Tax on Forex Trading?
I am a South African resident. I am a full-time forex trader (almost a year now). I trade via a broker overseas, I deposit funds into my trading account via their bank accounts here in South Africa. I would like to know if my profits from trading forex are taxed, how do I declare this and what forms should I fill from sars. Also, what can I expect in terms of what percentage of tax I will pay?
Written by Nicci
Posted 17 March 2022
Written by Nicci
Posted 15 March 2022
Written by Alicia
Posted 15 May 2020
If you have shares (financial instruments) , there is important information on your IT3C tax certificate which needs to be included in your tax return.
This will ensure your taxable income is calculated accurately with the correct capital gain or loss included.
Do you have shares at any of the following institutions?...
Written by Nicci
Posted 12 May 2020
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 of your tax return.
2. This is the base cost i.e the costs attached to the sale of your shares. This amount needs to be entered as the base cost in the capital gains section of your tax return....
Written by Nicci
Posted 12 May 2020
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 tax return.
2. Basiskoste/Base Cost i.e the costs attached to the sale of your shares. This amount needs to be entered as the base cost in the capital gains section of your tax return.
...
Written by Marc
Posted 23 April 2020
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?
Read more →
Written by Nicci
Posted 27 March 2020
I had rental income in the 2019 tax year, I converted part of my house into a 1 bedroom apartment as well as converting my old garage into another, so I currently have 2 flats now on the property. The apartments represent around 34% of the squares of the buildings on the property. Should I then declare 30% of the costs of the property (I.e.: Interest, Rates & Taxes etc as the costs) as the costs?
Also, where do I declare the cost I had incurred in building the units? (Does it come und...
Written by Nicci
Posted 19 September 2019
Do Your Tax Return Easily