The South African retirement landscape is undergoing significant transformation with the introduction of the Two-Pot Retirement System, set to be implemented on 1 September 2024. This system, which is part of the 2023 Revenue Laws Amendment Bill and Pension Laws Amendment Bill, aims to provide individuals with greater flexibility in accessing retirement savings while ensuring … Read more
Welcome to the ultimate guide on eFiling, South Africa’s premier online system for managing tax affairs. Whether you’re a seasoned taxpayer or new to the system, this guide aims to provide a thorough understanding of eFiling, making tax submissions, payments, and compliance more straightforward and less time-consuming. What is eFiling? eFiling is an electronic service … Read more
Discover everything you need to know about navigating tax and customs in South Africa with our comprehensive guide to the South African Revenue Service (SARS). Whether you’re a first-time taxpayer, a seasoned business owner, or just looking to stay informed, this page is your go-to resource for all things related to SARS. What is SARS? … Read more
If your ITR12 (Income Tax Return for Individuals) is not issued on eFiling in South Africa, it could be due to various reasons. Here are some common reasons why your ITR12 may not be available on eFiling: Tax Filing Period: ITR12 forms are typically issued for a specific tax year, which runs from March 1st … Read more
To access your ITR12 tax return on eFiling (the South African Revenue Service’s online tax filing platform), you can follow these steps: Register or Log In to eFiling: If you haven’t already registered for eFiling, you will need to create an account. Visit the SARS eFiling website: https://www.sarsefiling.co.za and click on the “Register” button if … Read more
If your ITR12 (Income Tax Return for Individuals) is not available in South Africa, there could be several reasons for this issue. Here are some common reasons why you might encounter problems accessing or finding your ITR12 form: Filing Season Period: The availability of the ITR12 form is typically linked to the annual tax filing … Read more
In South Africa, the calculation of taxable income for individuals is relatively straightforward. Here’s an overview of how taxable income is calculated: Gather All Income Sources: First, you need to gather information about all your sources of income for the tax year. This may include the following: Salary and Wages: Your income from employment. Business … Read more
SARS (South African Revenue Service) calculates tax returns in South Africa based on the information provided by individual taxpayers and businesses. The tax return process in South Africa is somewhat similar to tax systems in many other countries. Here’s a general overview of how SARS calculates tax returns: Filing a Tax Return: Taxpayers are required … Read more
In South Africa, certain types of businesses may be exempt from paying income tax, provided they meet specific criteria and comply with relevant regulations. These exemptions are designed to promote economic growth, job creation, and other socially desirable outcomes. However, the criteria for exemption can vary, and it’s important to consult with a tax professional … Read more
If you have forgotten your tax number you can request it from SARS in various ways: Send us a query. Please ensure your details match our records. You can get it on eFiling if you are registered as an eFiler. All you need to do is log on and check your number. You can also request your notice of … Read more