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Tax Season

Tax Season in South Africa.

A Few Things to Know About South Africa’s Tax Season

Tax season in South Africa usually begins for individuals in July each year with tax season usually closing in October each year.

Taxpayers are critical role players in South Africa’s tax system and it is important for Government and the public to work together to keep the system running smoothly. There are more than 4 million tax contributors in our country. Therefore, in order to submit accurate returns, you need to follow the correct process.

Here are a few things that you should know about tax season in South Africa:

  • Not all South Africans have to submit tax returns. Those who earn less than R350 000 before tax from one employer and receive no other income (among other conditions) do not have to submit a tax return. However, they still must pay tax, said tax being deducted as PAYE by the employer.
  • Taxpayer deadlines are not all the same. Non-provisional taxpayers who use eFiling have until November to submit. However, manual and posted submissions must be done before September. Additionally, provisional taxpayers using eFiling must submit their returns before end of January.
  • You must only use registered tax practitioners for assistance. It is vital that your tax practitioner is registered with SARS as well as any of the recognized controlling bodies. This is compulsory.
  • You must keep supporting tax return documentation for no less than 5 years after submission. These documents include IRP5 certificates, IT3(b) certificates and related documents. Consult with your tax practitioner on which documents are vital.

Below is a list of the supporting documentation and information you will need:

  • IRP5/IT3(a) certificate.
  • IT3(b) certificates for investments.
  • Medical aid receipts.
  • Financial statements.
  • Certificates for retirement annuities.
  • Logbook and documents for business travel costs.
  • Proof of additional income.
  • Local interest income earned certificates.
  • Bank account details.

Taxleaders dedicate their time and attention to being a strategic partner to their clients.

“Our aim is to help secure our clients’ financial future and well-being. Therefore, we promise our clients our best attention at all times. Additionally, we ensure that you are on time with submissions every tax season and calculate your contributions accurately. We are just the financial team to assist you.”

For more information and advice on South Africa’s tax season, take the time to contact us at Taxleaders. Simply give us a call or send us an email and we will advise and assist you further.