A tax return tool to help you avoid the once-a-year panic

“Is it really tax season again?” “Ugh.”

Do you find yourself dreading this time of year - scrambling to get invoices and documents together for yourself or your tax practitioner?

You’re not alone.

The Wealthbit Unstress Tax Season workbook takes tax season from stressful to simple. This tool is designed to nudge, guide, and total things up so filing is faster and calmer.

It helps you stay on top of your tax information bit by bit throughout the year.

Spend just 10 minutes each month filling in the sheet, and you’ll quickly see the difference - every line you add now is one less worry later.

By the end of the South African tax year (1 March to 28 February), you’ll have a clean, organised record and a lot less stress.

The tool will help you:

📝 Capture income and expenses while they’re fresh in your mind every month
📥 Avoid digging through emails and statements in February
📊 See an annual picture come together automatically in the annual overview tab.

What you’ll track each month

Step 1: PAYE income

Log your salary or any freelance income where PAYE was deducted. Include the gross amount, PAYE deducted, and net pay to keep a clear record.

Step 2: Untaxed income

Track all income where no tax was withheld, such as freelance work, rental income, bank interest, or side-hustle earnings.

Step 3: Deductible expenses

Record your retirement annuity contributions, Section 18A donations, and out-of-pocket medical costs. Also, be sure to keep proof for each expense.

Step 4: Freelance expenses

Add business-related costs like software subscriptions, phone and internet bills, equipment purchases or repairs, and office supplies.

Step 5: Vehicle costs

Include petrol, insurance, repairs, and maintenance. Plus, remember to keep a logbook of your business kilometres to claim correctly.

Step 6: Home office costs

If you work from home, capture the portion of rent or bond interest, utilities, and cleaning costs that apply to your dedicated workspace.

Step 7: Rental property

Track rental income along with expenses like bond interest, rates, levies, and maintenance to stay on top of your rental property finances.

Step 8: Annual overview

Use this tab in the workbook to review your totals, double-check for anything missing, and make sure everything is ready to file when the time comes.

Ready to turn tax season from stressful to simple - one month at a time?

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