SARS eFiling

  Written by Evan   Posted 31 March 2017

SARS eFiling is an online process for submitting your tax returns to SARS and replaces physical tax return submissions done manually. This service allows individual taxpayers, tax practitioners and businesses to register and submit tax returns, make payments and perform a number of other interactions with SARS in a secure online environment. The website is accessible at www.sarsefiling.co.za.

Bond credit life cover premiums

  Written by Nicci   Posted 31 March 2017

Are bond credit life cover premiums tax deductible against rental income? Credit life cover is compulsory, as per the bond approval pre-agreement.

ITA34

  Written by Evan   Posted 30 March 2017

An ITA34 is a summary of your assessment for the tax year. After submitting your tax return, SARS sends you a summary of your submission - this document is called an ITA34. You need to have a look at it and see if you agree, if not then you can dispute the assessment with SARS. If it does not say that you are audited, and you are happy with the result, then you do not need to take any further action after receiving it.

ITR14

  Written by Evan   Posted 30 March 2017

An ITR14 or Income Tax Return is a form that SARS requires all companies registered with CIPC to complete and submit to SARS once every year. The form is used to declare your incomes and expenses/deductions so that SARS can calculate how much tax your business need to pay, or how much of a tax refund SARS needs to pay to you.

If you run a business that is not registered with CIPC, you would enter in your business-related incomes and expenses into your personal ITR12 tax return, under...

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IT3(c)

  Written by Evan   Posted 30 March 2017

An IT3c is a Tax Certificate received from an institution such as a bank or financial services institution. It is a summary of any disposals you may have made related to the holding of investments with any of these places.

IT3(b)

  Written by Evan   Posted 30 March 2017

An IT3(b) is a Tax Certificate received from an institution such as a bank or financial services offerer which will be a summary of any interest and dividends both local and foreign that you would have earned by having money invested with one or more of these places.

IT3(a)

  Written by Evan   Posted 30 March 2017

An IT3a is the same as an IRP5, except that it shows employee earnings from which tax has NOT been deducted.

An IT3(a) is a tax certificate issued to a taxpayer at the end of the tax year, detailing income, allowances, and deductions where no employees’ tax (PAYE) was withheld. It is typically provided for payments such as contract income, allowances, or other remuneration not subject to PAYE.

This certificat...

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IRP5

  Written by Evan   Posted 30 March 2017

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. It is used by the employee specifically to complete his/her income tax return for a specific year.

Need help finding tax values on your IRP5? Read our help guide

Can expenses incurred from other income be deducted?

  Written by Nicci   Posted 30 March 2017

If I'm a full time employee plus I do something outside of work that generates income and expenses, can these expenses be deducted?

Tax Season Submission

  Written by Nicci   Posted 30 March 2017

I recently just registered on your website. I wanted to ask, for the year
2017 personal submissions, do I have to wait for the 1st of July for my
submissions?

How to Authorize TaxTim for Submissions

  Written by Evan   Posted 30 March 2017

IMPORTANT :
These instructions assume that you are using the TaxTim service.
This authorization is a ONCE-OFF process, next year you won't have to do it.

Average time to finish: 3 minutesSTEP 1: Log into your SARS eFiling profile

Visit www.sarsefiling.co.za in a new tab / window.
Click the LOGIN button
...

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How to submit an empty / nil return to SARS

  Written by Evan   Posted 30 March 2017

In some cases where a taxpayer was previously employed and receiving IRP5's, or has since moved overseas and no longer lives within South Africa, it may be assumed that there is no need to submit a tax return to SARS. Essentially the return would have no information on it, it would be empty, so why bother?

Completing and submitting your tax return every year is actually an essential task, and here's why:

1. By submitting your tax return...

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How to use SARS eFiling to File Income Tax Returns

  Written by Evan   Posted 29 March 2017

WARNING:

Filling out your tax return 100% correctly is of utmost importance.

We advise using a professional service like TaxTim for completing your tax return as it is essentially a legal document. Not using professional help may lead to an audit from SARS, harsh penalties, a reduced tax refund or worse.

Do it Right the Easy way by letting TaxTim fill in your Tax Return Instantly....

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How to submit your return to SARS

  Written by Evan   Posted 28 March 2017

Once you have a SARS issued tax reference number you can get started using TaxTim:

1. Visit www.taxtim.com/za and register.
2. Answer TaxTim's easy to understand questions about your tax year.
3. TaxTim fills in your tax return for you instantly. Get started now! →

Now that you have your completed tax return, there are three ways to submit it to SARS:

...

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Tax on a deceased's Retirement Annuity

  Written by Nicci   Posted 28 March 2017

I received money from my late dad's Retirement Annuity and I was taxed on this. Does that
matter at all?

Is a golf membership tax deductible?

  Written by Nicci   Posted 28 March 2017

Can I claim tax back on my golf membership fees? I play golf with clients there, have meetings and network new clients. I own a lighting and electrical importing and wholesaling company

Paypal and tax submissions

  Written by Nicci   Posted 28 March 2017

I'm permanently employed and I plan on making extra money through surveys and Paypal. How would I submit this to SARS? I've not done anything like this before and I wouldn't like to make an error with my tax return. And, would I have to declare the money if I don't actually take it from my Paypal account?

Tax calculations on returns not previously submitted

  Written by Nicci   Posted 27 March 2017

If I didn't submit tax for more than 3 years. How is tax calculated?

Incorrect Tax Code

  Written by Nicci   Posted 27 March 2017

My employers incorrectly submitted my 2016 tax return with a code of 3601 instead of 3616. I'm a contractor with a fixed term contract and end dates and receive no company benefits. They refuse to submit an EMP601 correction which SARS has asked for, I think they are concerned they will be audited. I am therefore having to pay a tax bill. Is there anything I can do?

Is salary paid to secretary tax deductible

  Written by Nicci   Posted 27 March 2017

I'm a commission earner and I employ a secretary whom I pay R5000 p.m. - can I deduct this amount from my income when I do my tax return?

Is the Package Correct?

  Written by Nicci   Posted 27 March 2017

I'm filling out my 2017 tax return for Individual Return. My income is covered in part by an IRP5, and in part by a foreign deposit. Can I declare both on TaxTim?
I also just bought the TaxTim Ultra package because of the foreign income, but the email says I should only use the voucher on July 1st. Have I bought the wrong product?

Mail Received: IT34

  Written by Nicci   Posted 27 March 2017

I received a mail from SARS: "An IT34 notice for the taxpayer listed below has been issued by SARS. Please log into the SARS eFiling system to view the IT34".

I'm not sure what this means.

Cruise Ship employee and Tax Laws

  Written by Nicci   Posted 26 March 2017

I'm a SA resident and work on a cruise ship as a waiter for a company that travels all over the world. Most of my income is derived through gratuity from passengers. How would this relate to the new tax law for foreign income mentioned in the latest budget speech affect us? Will I be subjected to pay tax on the gratuity I earn?

Working from Home

  Written by Nicci   Posted 26 March 2017

I work from home and make approximately R25000/month. I don't do much traveling and I
manage everything from my desk. I service one company only- I'm basically working for myself. They don't cover any tax etc. and I receive this
payment monthly. What's the best way to deal with the Tax?

Resubmitting A Tax Return

  Written by Nicci   Posted 24 March 2017

On my 2016 tax return SARS says that I owe them money. I think that this isn't accurate as I was with a full time employer and I'm sure that they took care of all my tax issues. Is it too late to resubmit a tax return for 2016 via TaxTim?
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