Discover the most common tax mistakes South Africans make when filing SARS returns.
Filing your South African personal income tax return can feel overwhelming, especially if you’re juggling multiple income streams like freelance gigs, side businesses, or even cryptocurrency investments. But did you know that a few common mistakes could be costing you thousands of rands in tax refunds?
At CH Consulting, we’ve seen it all. Here are the 7 most frequent slip-ups South Africans make when filing their taxes—and how to avoid them to maximise your refund.
1. Incorrect or Incomplete Information
Simple errors like typos in your ID number, banking details, or income figures can delay or even jeopardize your tax refund.
Tip: We always double-check your details on SARS eFiling before submitting your tax returns.
2. Not Declaring Cryptocurrency Earnings
Crypto gains are taxable in South Africa! Many assume SARS isn’t tracking crypto profits, but this is a myth. Failing to declare your crypto earnings can lead to audits and penalties.
Need help calculating your crypto tax? Our team specialises in compliant crypto reporting.
3. Missing Out on Allowable Deductions
Most taxpayers forget to claim deductions they’re entitled to, such as:
- Gas fees for crypto
- Retirement annuity contributions
- Medical aid expenses
- Home office costs
- Donations to registered charities
Tip: Keep accurate records of all receipts year-round.
4. Incorrectly Claiming Expenses
Claiming unapproved or non-business-related expenses is a red flag for SARS and could trigger an audit. Our team will send you a simple template to help you know exactly what you can and cannot claim for.
5. Forgetting to File Provisional Tax
If you earn income outside of traditional employment—like consulting, freelancing, or crypto—you might need to file provisional tax twice a year.
Missing deadlines leads to penalties and interest. Once you have those, forget about getting a refund until they’re sorted out.
6. Underreporting Side Hustle or Freelance Income
With the rise of side hustles and online work, many South Africans forget that all income sources, even PayPal and crypto wallets, must be declared.
7. Submitting Late
Late submissions = automatic penalties. Don’t leave your filing to the last day! All our clients are notified well in advance to avoid these penalties and maintain compliance.
How CH Consulting can help you:
Tax season shouldn’t be stressful. Our experts at CH Consulting handle:
- Personal tax returns
- Crypto tax reporting
- Provisional tax filings
Need assistance with your 2025 tax return?Contact us today and ensure your refund is maximised and compliant.
FAQ’s
Can I claim tax back on crypto losses in South Africa?
Yes, crypto losses can offset your crypto gains – but only if declared correctly.
What happens if I don’t declare freelance or side hustle income?
SARS penalties range from financial penalties to full audits. Always declare all income sources.
You are welcome to book a call if you want us to consult on your specific circumstances or complete your calculation and return on your behalf.
You can also email us at info@chconsulting.co.za if you have any questions; or check out our Google Reviews to see what other customers have experienced when working with us.
Disclaimer: This article is for informational (and occasionally humorous) purposes only and does not constitute legal or financial advice. Always consult a qualified professional regarding your individual circumstances… like us.