We present a weakly compressible form of the Smoothed Particle Hydrodynamics method (SPH) for fluid flow based on the Tait equation. In contrast to commonly employed projection approaches that strictly enforce incompressibility, time-consuming solvers for the Poisson equation are avoided by allowing for small, user-defined density fluctuations. We also discuss an improved surface tension model that is particularly appropriate for single-phase free-surface flows. The proposed model is compared to existing models and experiments illustrate the accuracy of the approach for free surface flows. Combining the proposed methods, volume-preserving low-viscosity liquids can be efficiently simulated using SPH. The approach is appropriate for medium-scale and small-scale phenomena. Effects such as splashing and breaking waves are naturally handled. Categories and Subject Descriptors (according to ACM CCS): I.3.3 [Computer Graphics]: Three-Dimensional Graphics and Realism: Animation