Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Pretoria - Even though a tax return has been completed by a professional, the taxpayer himself remains accountable if information is omitted or incorrect.
Deloitte tax director Anthea Scholtz says this might seem unfair, but that's the way it is.
She says desperate taxpayers should not call for assistance from the first tax practitioner they meet.
"Fly-by-nights are usually long gone by the time a taxpayer receives his assessment. The taxpayer then sits with the problems."
Scholtz says the only recourse is to employ a registered tax practitioner.
The deadline for electronic submission of individuals' income-tax returns is on Friday, by which time all outstanding returns must be received.
Should this not happen, the new penalty system becomes operational.
In such cases penalties of R250 to R16 000 a month, depending on the previous year's taxable income, will be imposed.
Scholtz advises people to meet the Friday deadline.
But she points out that people who are registered as provisional taxpayers and have no outstanding returns (apart from that for 2009), have until February 28 next year.
"Taxpayers exercising this option, however, must pay the assessed tax within seven calendar days of the assessment."
According to Scholtz, only about 25% of individual taxpayers are provisional taxpayers.
The South African Revenue Service (Sars) has made this concession because these taxpayers' affairs are usually more complex.
People who do not submit their returns electronically, and who have still not handed in this year's return, can approach a Sars office.
An official will then perform the electronic submission for the taxpayer, but this has to be before November 20, says Scholtz.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.