What is it?
Tax Season 2013 is open! It’s that time of the year again when you have to complete and submit your Income Tax Return (ITR12). We will help you through Tax Season 2013 with all you need to know so you can file easily and on time.
Who is it for?
- Individuals (Provisional and non-provisional taxpayers)
If you earn under R250 000 for a full year from one employer (that’s your total salary income before tax) and have no other sources of additional income (for example like interest or rental income) and no deductions that you want to claim for (for example like medical expenses, travel or retirement annuities), then you don’t need to submit a return.
What steps must I take?
- Use the information supplied in your ITR5/IT3(a)(which you will get form your employer) as well as other Tax Certificates from your medical aid, Retirement Fund Annuities, investment income etc.
- Use only accurate information and the correct figures which appear on your various supporting documents when you complete your return.
- Don’t claim deductions and expenses which do not exist or are not applicable to the year of assessment for which the return is being submitted.
- And finally, don’t leave anything out! Declare all additional income you earned like the rent you got from your holiday house or the tips and salary you got from your waitressing job!
Top Tip: Remember, you need to keep all your supporting documents for five years in case SARS wants to check them.
When should it be submitted?
It’s very important that you submit your return by the set deadline to avoid any penalties and interest which may be charged for late submission. Please take note of the following deadline dates:
- Paper/manual via post or dropping it off in a SARS drop box by 27 September 2013.
- Electronically at a SARS branch by 22 November 2013.
- Non-provisional taxpayers who use eFiling by 22 November 2013.
- Provisional taxpayers who use eFiling by 31 January 2014.
How should it be submitted?
New details required from Tax Practitioners
When filing a tax return for your clients you’ll notice that our first question asks if the return is being made by a Tax Practitioner. You will need to tell us that you’re filing the return on their behalf and provide us with your contact details and your Tax Practitioner number so we can make sure that we can send the outcome to you as well as your client. So it’s as simple as that, make sure you have your email address and telephone available.
Top tip: when filing your own personal return you do not declare that you are a Tax Practitioner filing on someone’s behalf.