Written by Marc
Posted 28 March 2022
Please can you help me by giving me my password and user number, because I lost it and I am already registered with SARS.
Written by Nicci
Posted 22 March 2022
Q: How do we calculate leave days?
Scenario 1: An employee who works 40 hours per week and who has a monthly basic salary of R17933.00 and has carried over 20 leave days of which we would need to pay out.
Scenario 2: An employee who works 37.5 hours per week not 40 hours who has the same basic salary of R17933.000 and had 20 leave days to be paid, how would you calculate leave days?
A: You can calculate leave days as...
Written by Nicci
Posted 17 March 2022
Written by Nicci
Posted 16 March 2022
Written by Nicci
Posted 15 March 2022
Written by Nicci
Posted 15 March 2022
Written by Nicci
Posted 10 March 2022
Hi Tax Tim,
I am a Personal Service Provider (PSP). My client withholds PAYE at 28% in the name of the PSP i.e in my company's name and not me personally, as an individual taxpayer. This concerns me because the PAYE tax credits sit in my company's name, but from an individual perspective I have not paid any tax on the salary I withdraw from my company.
The PAYE refund, if any, will be paid into my company. How do I show the tax on my salary in my individual tax return? If I...
Written by Nicci
Posted 12 January 2022
Perhaps you just tried to submit your tax return and you instantly got an error relating to 3696 and 3699. As frustrating as it could be, don’t worry the error can be fixed. Maybe, you might have just simply left an amount out. Let’s have a look at what you should do, in order to crack these codes correctly – in that way making filing much more easier for you.
You’ll need to check your IRP5 to make sure you answered TaxTim's questions for these amounts correctly. Your IRP5 can show one or more amounts with source codes describing the income you received from your employer that year. ...
Written by Evan
Posted 28 December 2021
SARS charges interest on late payments made toward provisional tax deadlines.
To calculate this late payment penalty, use the formula below:
Provisional tax amount x Loading...% x (days after deadline / 365)
Use the calculator below:
Written by Nicci
Posted 18 August 2021
These tips are part of TaxTim's personalised recommendation tool called the Tax Health Score. Once you file your tax return with TaxTim,
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Written by Nicci
Posted 22 February 2021
What is an IRP5?
An IRP5 is the employee's tax certificate that is issued to him/her at the end of each tax year detailing all employer/employee related incomes, deductions, and related taxes. The employee uses it specifically to complete his/her income tax return for a specific year.
Do I need an IRP5?
Yes, you do if you were employed during the tax year.
Can I submit a return without an IRP5? OR Am I able to submit returns without my IRP5? OR Are you able to submit without the IRP5?...
Written by Nicci
Posted 20 January 2021
As part of my package I receive the benefit of a fuel card and car allowance (but I do not do any business travel). However, on my tax return for 2020 I had to pay almost R9k because of this benefit. I had thought that our Human Resource Department would have made adjustments to my PAYE so that I would be paying 100% of the applicable tax so that I do not have anything to pay when I do my tax return once a year. Our Human Resource person said that he was not able to set the PAYE so that I could in future pay 100% of the fuel and car allowance benefit, but was limited to set it at 80%. ...
Written by Vee
Posted 18 January 2021
For those fortunate enough to receive bonus payments as part of your remuneration, you’ll understand the
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Written by Nicci
Posted 27 July 2020
Written by Nicci
Posted 21 July 2020
I have been working abroad permanently for more than three years and I reside outside of South Africa. I have never fully understood the tax rules and see that I have some penalties (fines) for late/incomplete submissions. I do not have any way of receiving all information needed to submit old tax returns, so I want to know what will happen when I pay the penalties? Will it just start racking up again for the same infringements or will I have a clean slate to do things the right way going forwar...
Written by Nicci
Posted 20 July 2020
Written by Nicci
Posted 18 June 2020
Written by Nicci
Posted 22 May 2020
Written by Nicci
Posted 8 May 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.
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Written by Nicci
Posted 7 May 2020
Written by Nicci
Posted 29 April 2020
Written by Nicci
Posted 29 April 2020
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?
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Written by Marc
Posted 20 April 2020
Written by Vee
Posted 16 April 2020
Do Your Tax Return Easily