Written by Nicci
Updated 8 June 2022
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 renovations are complete! And, just when you thought the worry was over, you realise that the differences between the building allowance and renovations aren’t clear to you. “Aren’t they all the same?” is the question lingering in your head. Don't fret, below is a breakdown of the exact clarity you’re looking for. ...
Written by Nicci
Updated 8 June 2022
Our Helpdesk receives lots of questions from home sellers who rented out their primary residence for some of the
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Written by Evan
Updated 7 June 2022
For an individual, the tax year runs from 1 March until 28/29 February of the following year.
For a company, the tax year can run for any 12 month period. A company's tax year will be the same as its financial year. The company's financial year end will be reflected in its CIPC registration documents.
The tax year is different from a normal calendar year, which always runs from 1 January to end December.
The tax year is named by the year in which it ends e.g. the...
Written by Evan
Posted 1 June 2022
Written by Elani
Posted 30 May 2022
There are various types of taxes with their own special return forms and deadlines.
Written by Nicci
Posted 20 May 2022
Reduce your tax bill and claim ALL of your expenses in your tax return.
Click here for steps to reject the SARS auto-assessment.
Written by Patrick
Posted 19 May 2022
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 2022.
The union is demanding a CPI plus 7% across the board, while the National Education, Health and Allied Workers’ Union (NEHAWU) demands an increase of 11.5%. The unions and SARS hit a deadlock as SARS unashamedly made a final offer of a 0% increase.
If there is no resolution at the Com...
Written by Patrick
Posted 16 May 2022
According to SARS commissioner Edward Kieswetter, some South Africans who came into money were eager to “display their wealth”, giving cause for SARS to look into the income of these individuals.
In many cases, SARS found that there was a major disconnect between the income that was being declared and the type of lifestyle that these individuals were leading, according to third-party data. These include social media platforms.
As we already know, people are often i...
Written by Patrick
Posted 16 May 2022
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, SARS is firmly taking the position that it is not.
With luxury audits being the order of the day, SARS is continuously looking into those who live luxurious lifestyles, particular those who own luxury cars and crypto assets, without declaring their income to the revenue service.
In many cases, this income pertains to the...
Written by Nicci
Posted 12 May 2022
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 made things a lot easier this year.
Getting a tax number is now as easy as registering on SARS eFiling. Simply click here and if you don’t have a personal income tax number yet, SARS will automatically issue ...
Written by Nicci
Updated 9 May 2022
Written by Nicci
Updated 9 May 2022
Written by Nicci
Updated 9 May 2022
Written by Nicci
Updated 9 May 2022
I have been working overseas and will be doing so for the whole of 2022 tax year making me provisional:
a. What average exchange rate will I use?
b. When is the first Provisional tax return due and, if necessary payable?
c. Can I deduct my overseas pension and medical from my gross income or is this only if I have a pension/RA and medical in South Africa?
d. I know that R1. 25 mil is exempt so how would I work out the tax on that as I know that I cannot claim all overseas tax...
Written by Nicci
Updated 9 May 2022
Written by Nicci
Updated 4 May 2022
I would like to find out whether I can claim antenatal multivitamins and non-script items as part of medical expenses not covered by medical aid? I have been buying these since the beginning of the year and I was just wondering if since I use them for medical purposes would I be able to claim them. Kindly assist as I am very much confused. I heard somewhere that one is able to claim medical expenses from SARS, but I am not sure which expenses can be claimed. I tried looking for the list of medic...
Written by Elani
Posted 4 May 2022
Yes, the business is seen as a Personal Service Provider.
This means that remuneration that is payable by a client to your business is subject to employees tax (i.e. PAYE). This also means that your business can not qualify as a Small Business Corporation in order to benefit from special tax rates.
No, the business is not seen as a Personal Service Provider
This means the entity will be taxed as normal as per the business's applicable ...
Written by Nicci
Updated 3 May 2022
Written by Nicci
Updated 3 May 2022
Written by Nicci
Updated 3 May 2022
Written by Nicci
Updated 28 April 2022
Written by Nicci
Updated 27 April 2022
Written by Nicci
Updated 27 April 2022
Written by Nicci
Updated 26 April 2022
Written by Nicci
Updated 26 April 2022
Do Your Tax Return Easily