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Cape Town - The Tax Season runs from 1 July to 25 November every year and 25 November is the tax deadline for non-provisional taxpayers who file electronically via e-Filing.
The tax deadline for provisional and non-provisional taxpayers who file at a Sars branch is also 25 November. Provisional taxpayers who file via e-Filing have until 31 January 2017 to submit their returns.
Craig Torr from Crue Invest reassured taxpayers that the Sars e-Filing process is an incredibly efficient one, with excellent turn-around times.
“We encourage taxpayers to make use of this online facility. You can access their site directly at Sars eFiling to submit your return, or visit www.sarsefiling.gov.za or visit www.sars.gov.za for information,” says Torr.
The following supporting documentation is required when submitting your tax returns:
- IRP5/IT3(a) certificate(s);
- IT3(b) certificates for investment returns;
- Financial statements where applicable - for instance business income;
- Medical aid contribution certificates and receipts;
- Retirement annuity fund certificates;
- Certificates for local interest income earned;
- Logbook and other documents in support of business travel expenses;
- Completed confirmation of diagnosis of disability form (ITR-DD), if applicable;
- Any other relevant income and deduction information;
- Bank account details.
Exemptions
Individuals whose total salary earned during 1 March 2015 - 29 February 2016 for the 2015/2016 year of assessment is not more than R350 000 (before tax) need not file a return, provided that:
- The individual only had one employer;
- The individual had no car allowance or other income (for instance interest or rent);
- The individual was not claiming tax related deductions (for instance medical expenses, retirement annuity contributions, travel expenses);
- The individual received interest from a source in South Africa not exceeding R23 800 (for those younger than 65) or R34 500(for those over the age of 65);
- Dividends were paid to the individual as a non-resident during the 2016 year assessment. See more on Sars Dividend Exemptions;
- Company tax returns can only be filed electronically and must be submitted within one year of the company’s year-end.
