TaxTim

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[TaxTim @TaxTim]

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:

https://t.co/scxtIeZE84

[TaxTim @TaxTim]

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.

[TaxTim @TaxTim]

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.

[TaxTim @TaxTim]

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:

https://t.co/scxtIeZE84

[TaxTim @TaxTim]

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.

[TaxTim @TaxTim]

📅 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 👇 https://t.co/xFEQ8TjpMA

[TaxTim @TaxTim]

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)
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[TaxTim @TaxTim]

(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.

[TaxTim @TaxTim]

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.

[TaxTim @TaxTim]

(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.

[TaxTim @TaxTim]

A TFSA can be a simple way to build long-term savings, while keeping the tax side clean.

It does not reduce your taxable income like a retirement annuity can, but it does help your investment growth stay tax-free.

Read more here: https://t.co/HHRzIsyM6X

[TaxTim @TaxTim]

A Tax-Free Savings Account, or TFSA, helps your money grow without tax on the interest, dividends, or capital gains.

For the 2026 tax year, the annual TFSA limit increased to R46,000.

Here’s what that could mean in real life.

[TaxTim @TaxTim]

There are two important TFSA limits to remember:

R46,000 per tax year.

R500,000 over your lifetime.

If you contribute more than the allowed limit, SARS can tax the excess at 40%.

So it’s better to contribute steadily and keep track.

[TaxTim @TaxTim]

DID YOU KNOW? SARS gives you a monthly medical aid tax credit, which reduces the tax you owe.

In this tax year you get:

R376 per month for you and your first dependent.
R254 for each additional dependent.

Calculate your medical aid tax credit at: https://t.co/X8dLgcxm9F

[TaxTim @TaxTim]

Visit TaxTim’s salary tax calculator to find out how much more in about two minutes.

https://t.co/mRkiakl2td

[TaxTim @TaxTim]

Most taxpayers don’t know the term “bracket creep”, but they know the feeling.

Your salary goes up a little. Prices have gone up too. But if tax brackets don’t adjust, SARS takes a bigger slice each year. Not because you’re richer. Because the system hasn’t kept up.

[TaxTim @TaxTim]

Budget 2026 fixes that. The tax brackets have been adjusted for inflation, which means most people should take home a little more this year, even without a pay rise.