1st Provisional tax return 2024/08/30 2023/08/31 2nd Provisional tax return 2025/02/28 2024/02/29 Top-up payment (Optional) 2025/09/30 2024/09/28 Income tax return 2026/01/23 2025/01/23 Am I a provisional taxpayer? If you ONLY earn a salary / remuneration on which PAYE is deducte...
Provisional Taxpayers: your tax return filing deadline is 23 January 2023. Breathe easy. If you ‘think’ you are a Provisional Taxpayer, we strongly suggest you make 100% sure you me...Read more → Provisional Tax Penalties Posted 8 March 2022 Seasoned provisional taxpayers – those people...
You can use our Salary Calculator to calculate the tax on your personal income. In a company, profits are taxed at a flat rate of 28% (except for company’s whose year end is on or after 31 March 2023, their tax rate is 27%), irrespective of the level of earnings. In order for ...
Why refund/tax liability estimations may differ from the SARS calculator and final SARS ITA34 assessment Updated 8 June 2023 TaxTim and SARS use all the financial information you provide to work out the most accurate estimate of your potential refund (or tax liability) for the current tax sea...
If you contribute to a Medical Aid this tax year (i.e. 2023/2024) you will receive a fixed monthly tax credit of R364 for you as the primary member, a further R364 for your first dependent and R246 for each of your additional dependents. SARS calls this rebate the Medical Schemes Fe...
SARS have specifically stated that they will NOT allow internet, water, sewerage, refuse, gardening and office beverages/snacks to be claimed, as well as the interest on bond expenses from the 2023 tax year. 21. If I have solar power during the day, how can I claim because I don’t ...
23 January 2023: digitally via eFiling (provisional taxpayers) If you don’t submit your income tax return on time, you may be liable foradmin penalties. SARS can charge an administrative penalty which can range from R 250 to R 16 000 per month, or R 3 000 to R 192 000 per year. ...
2. I sold a property in March 2022, which I used to rent out to tenants. Do I need to include the capital gain in myIRP6(first provisional return for the 2023 tax year) that will be due end of August 2022 or can I just declare it on my 2023ITR12?
Updated 22 November 2023 If you've received a letter from SARS saying that your tax return has been rejected and you're not sure why, there could be a few reasons why this has happened. Here are some of the most common reasons, along with the corrective steps you need to take:Reason...
Updated 14 April 2023 Imagine you’re an estate agent or luxury car salesman. Chances are that you don’t earn much (if anything) as a basic salary and you rely on a few big deals and commission payments to keep you afloat during quieter months.Read more → 10 Tips to Pay Less Tax...