Get Expert Tax Assistance and Help for Compliance, Accuracy and a Possible Tax Refund!
With tax season in full swing, everyone is rushing to get their tax returns ready for SARS. A complicated field that SARS manages with great efficacy, not only is it compulsory for every business to submit a tax return each year, but individuals who earn more than the 2015 income tax threshold will also need to submit an income tax return. While the deadline for taxpayers who submitted their return manually closed on the 30th September, the deadline for non-provisional taxpayers who file via eFiling or by drop-off still have until the 27th November, and the deadline for all provisional taxpayers who file via eFiling have until the 29th January 2016 to submit their returns.
Fortunately for many, SARS has made eFiling effortless, but that won’t help if all of your current financial records are a “hit and miss”. When it comes to submitting your tax return, there are always two very important things to keep in mind, and first and foremost is inaccuracies. A dangerous word in the world of SARS – not only can “inaccuracies” result in financial loss and steep penalties, but in some extreme cases, it can result in legal action. Secondly, keep in mind that while you might owe SARS money, SARS could very well owe you money!
How do Tax Refunds Work?
An extremely popular question – a tax refund all depends on whether you have any expenses/deductions that your employer doesn’t pay for or pays for on your behalf. If the company that you work for pays for most of your expenses, then you will NOT get a tax refund and the chances are high that you won’t owe SARS any money either. However, if you pay for all of your own expenses, such as Medical Aid, Pension Fund, Retirement Annuity or Income Protection Contributions, then the chances are high that you WILL receive a tax refund. But if you don’t submit your tax return, not only could you be losing out on a tax refund, but you could also find yourself with a penalty.
We Can Help You Achieve Compliance and Accuracy
If your tax is not near ready for the above two deadlines, then don’t panic, because we at Taxleaders.Net can offer you the precise tax assistance and help that you need to get it done. Providing expert assistance to both private individuals and small- to medium-sized businesses throughout the Johannesburg and Pretoria area – we are a credible hands-on small firm of tax experts and professional accountants that are registered with the South African Institute of Professional Accountants, Tax Practitioners and Business Advisors. With more than 30 years of SARS and tax experience, we are the right experts that can assist you with compliance, accuracy, and a possible tax refund! Contact us today.