Tag Archives: tax

How much Money will I get after Tax? Software & Sites 28 MAR 2015

I got a nice surprise in the form of a little salary bump this week and of course, the first question that popped into my head was just how much money would I now take home after tax?

In other words, I needed a SARS income tax calculator, and I needed one stat!

spreadsheet, pen and calculator artistically arranged in a shade of blue

Now as much fun as it would be to write one of those (it’s just a few simple calculations after all), I would much rather spare myself the time and simply use one that already exists – which is exactly why it was so cool for TaxTim’s SARS Income Tax Calculator to pop out from a quick Google search!

I’m already familiar with the TaxTim tax return handling brand thanks to all the exposure and adverts they post/get on the The Money Show with Bruce Whitfield (which I religiously tune into every evening drive home), so it was a no-brainer to click on their link, fill in the two or three text fields and then grin in delight as the digits performed a delightful and thrilling spin in order to churn out my magic number.

(As a bonus, it takes you through the calculation applied, and also shows you just how much the change in tax rates affect you by comparing to the previous tax season. Oh, and you can actually get your tax calculation done for the last 3 tax seasons if you want!).

So what am I getting at then?

Well, in essence, it’s pretty easy to know how much money you will take home after tax – if you have access to the Internet! :)

Related Link: https://www.taxtim.com/za/calculators/income-tax

Tax Time Already? My Life 18 JUL 2013

sars efiling taxWow, can’t believe that the tax season has rolled our way already. To be fair though, I did leave last year’s tax return pretty late, so it does kind of make sense that it feels like so little time has passed since the last one!

Anyway, this time I was determined not to procrastinate, and seeing as I now have a nice system of bagging and tagging all medical expenses as they occur throughout the year, I sat down on Saturday evening with my folder of slips, tallied up my expenses (which were quite a bit mind you), and logged on to SARS’ awesome e-filing website (thank you LastPass for remembering all of my username/password combinations!).

Seeing as I have a pretty simple tax return to do (single income, no investments, out of pocket medical expenses), filling in the pre-populated form didn’t take more than a handful of minutes, and in what was a probably just short of an hour of my time, I was done and dusted filing my tax return for the 2012-2013 season.

And as expected, with their super efficient turn around on us smaller fish in the pond, three or four days later I got the SMS telling me that a neat little sum of just over R7,000 had been dropped back into my bank account! (And just in time mind you – I have pregnancy scans coming up on the horizon!)

Again, kudos to SARS and their fantastic e-filing platform. Efficient and so much less hassle than those old paper forms we used to have to manually fill in, duplicates at the ready for each mistake we were bound to make! :)

(And just a reminder if like me you can never remember: a negative amount on SARS’ tax return calculation means they owe you money. A positive amount means you better get ready to dispute!)

Related Link: http://www.sarsefiling.co.za/

Time for Tax My Life 17 NOV 2012

Yes, yes, I have been putting it off for quite some time now, but with the deadline now looming before us rather large and in charge, last weekend I made the effort to dig out the folders with all the medical expense till slips for the 2011 tax period, sorted it all out and came up with some reasonably big numbers for both Chantelle and myself.

Now normally my medical expenses outside of medical aid contributions are fairly minimal thanks to the fact that I hardly ever bother to get medicine or go to a doctor when I’m sick, but this time around I had in fact spent a fair bit on Chantelle’s successful Lasik surgery – which needless to say promised a nice little tax refund for me.

As is the norm these days, filing via SARS’ wonderful efiling interface is both quick and easy (even more so because I’m a simple guy, single paycheck, no investments or expenses to claim back on other than medical), and after rectifying my first submission in which I had forgotten to note down my medical aid contributions, the system happily reported to me that all was well and I could now pack up and go to bed. Two days later and R6,500 was neatly deposited into my count.


Anyway, that just leaves Chantelle to still do hers, which I’m making a point of reminding her about pretty much each and every day.

I’m pretty sure she wants to punch me at the moment.

Thank You SARS, I’ll Take It! My Life 26 AUG 2010

Sigh, Tax Season is upon us once more, though I must say that the advent of SARS’ e-filing system has certainly sped things up hundred-fold and made life pretty easy for simple taxpayers like myself.

Nowadays it is simply a matter of logging on, generating your pre-filled out return, checking that the values match up with what the certificates from your employers state, filling in the little things like medical expenditures and bam, hitting the file/save button.

Couldn’t be simpler. (Though I will admit I had to phone up Mr T. to ask him the difference between a positive and negative number on one of their returns!)

It really was that much of a pleasure. Far, far better than those old days of pen on paper with the calculator armed and at the ready as far as I’m concerned!

And what do you know. Just two or three days later and SARS has already deposited my R2,000 rebate into my account.

Nice! ;)