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TaxTim @TaxTim

Let #TaxTim help you complete and file your tax return with confidence. Quickly. Easily. Correctly

Joined October 2011
  • Tweets 2,814
  • Following 467
  • Followers 4,250
964 Photos and videos
TaxTim@TaxTim
Jun 15
How do tax brackets actually work? A lot of people think SARS looks at your salary, finds your tax bracket, and then taxes your whole income at that rate. That is not how it works. Your income is taxed in layers.
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TaxTim@TaxTim
Jun 15
That is why earning more does not suddenly make your whole salary taxed at the higher rate. This is also why retirement annuity contributions can help reduce your tax. An RA contribution lowers your taxable income, within SARS limits.
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TaxTim@TaxTim
Jun 15
If you are in a higher bracket, that saving can be more valuable because it may reduce the income taxed at your highest rate. Check your own numbers with TaxTim’s salary tax calculator: taxtim.com/za/calculators/in…
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Tax season opens soon. Are your docs ready? By now, most of your 2026 tax documents should be available or on the way. Start getting them together now, so you are not searching for everything when it is time to file.
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Your IRP5 is usually the main one if you are employed. It shows your income, deductions and PAYE paid to SARS for the 2026 tax year, from 1 March 2025 to 28 February 2026. If you have not received it yet, follow up with HR or payroll.
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Do not wait until filing season opens. Register with TaxTim now and get your tax documents ready in one place. Not sure which documents you need? Read our guide: taxtim.com/za/blog/what-supp…
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Small business owner? One of the biggest practical changes from South Africa’s 2026 Budget Speech is now in effect. From 1 April 2026, the Turnover Tax threshold increased from R1 million to R2.3 million. That means more micro businesses may now qualify.
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Turnover Tax is a simplified tax system for qualifying micro businesses. Instead of dealing with multiple tax types in the usual way, qualifying businesses can use a simpler system based on turnover. The tax-free Turnover Tax band also increased from R355,000 to R600,000.
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There was also a VAT change. The compulsory VAT registration threshold increased from R1 million to R2.3 million. That gives growing small businesses more breathing room before VAT registration becomes mandatory. Read the Budget 2026 tax changes here: taxtim.com/za/blog/budget-20…
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Turnover Tax is a simplified tax system for qualifying micro businesses. Instead of dealing with multiple tax types in the usual way, qualifying businesses can use a simpler system based on turnover. The tax-free Turnover Tax band also increased from R355,000 to R600,000.
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There was also a VAT change. The compulsory VAT registration threshold increased from R1 million to R2.3 million. That gives growing small businesses more breathing room before VAT registration becomes mandatory. Read the Budget 2026 tax changes here: taxtim.com/za/blog/budget-20…
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TaxTim@TaxTim
Jun 1
📅 Filing Season 2026 is confirmed. For most of us, it opens 13 July. Auto-Assessments: 1–12 July Non-Provisional: 13 July–23 Oct Provisional: 13 July–22 Jan 2027 Trusts: 13 July–22 Jan 2027 Don't leave it to the last minute. File with TaxTim 👇 taxtim.com/za/services/
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TaxTim@TaxTim
Jun 1
We’re excited to welcome @alexforbes as a new TaxTim partner. From today, Alexforbes members can save on filing their tax through TaxTim: → 30% off when you buy a voucher ahead of tax season (early bird) → 25% off during tax season Start here: taxtim.com/za/alexforbes
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TaxTim@TaxTim
May 25
Thinking of selling your home, shares, crypto, or a business asset? There were three useful Capital Gains Tax changes earlier this year. Here’s what changed.
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TaxTim@TaxTim
May 25
(2) The annual exclusion increased from R40,000 to R50,000. That means the first R50,000 of capital gains you make in a tax year can be ignored for CGT.
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TaxTim@TaxTim
May 25
(3) The small business market value limit increased from R10 million to R15 million. In simple terms, this gives more room for qualifying small business owners to get tax relief when selling business assets, if they meet the rules.
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