South Africans are gearing up for the start of the tax season on Friday and if you're still a bit confused as to what documents you will need, we've got your back.
Do I need to file a return?
The good news is that most people eligible to file returns will be auto-assessed and notified of the outcome, which means you won't have to do much at all. If you are happy, you won't even need to login and “accept” it.
“No need to call us, we will send you an SMS if you are selected to be auto-assessed. However, we have made it much easier this year — if you agree with your auto-assessment there is no need to 'accept' the assessment," said the SA Revenue Service (Sars).
“Should we not get your assessment right, you can let us know by filing a tax return with the additional information. If you want to edit your return, you can file your return on eFiling or the Sars MobiApp.”.
If you accept the results of your auto-assessment and there is a refund due to you it will be paid by Sars.
A negative amount indicates that a refund is due to you. If you owe Sars money you can make a payment on eFiling via EFT or the Sars MobiApp by the specified due date on your notice of assessment.
So what do you need if you want to double-check or edit your return?
Tax consultant and founder of Tax Maverick André Bothma shared a thread of the documents you need for various tax returns.
Most will only require an IRP5 from their employer, a medical aid certificates from their service provider, an RA certificate and IT3b and IT3c from investment companies or banks.
You may also need to submit travel logbooks, municipal accounts, slips and pictures of your house — depending on what deductions you are claiming.
Take a peek at what you might be asked to provide:
Getting ready for tax season? Here’s a thread on what to prepare
Image: Reuben Goldberg
South Africans are gearing up for the start of the tax season on Friday and if you're still a bit confused as to what documents you will need, we've got your back.
Do I need to file a return?
The good news is that most people eligible to file returns will be auto-assessed and notified of the outcome, which means you won't have to do much at all. If you are happy, you won't even need to login and “accept” it.
“No need to call us, we will send you an SMS if you are selected to be auto-assessed. However, we have made it much easier this year — if you agree with your auto-assessment there is no need to 'accept' the assessment," said the SA Revenue Service (Sars).
“Should we not get your assessment right, you can let us know by filing a tax return with the additional information. If you want to edit your return, you can file your return on eFiling or the Sars MobiApp.”.
If you accept the results of your auto-assessment and there is a refund due to you it will be paid by Sars.
A negative amount indicates that a refund is due to you. If you owe Sars money you can make a payment on eFiling via EFT or the Sars MobiApp by the specified due date on your notice of assessment.
So what do you need if you want to double-check or edit your return?
Tax consultant and founder of Tax Maverick André Bothma shared a thread of the documents you need for various tax returns.
Most will only require an IRP5 from their employer, a medical aid certificates from their service provider, an RA certificate and IT3b and IT3c from investment companies or banks.
You may also need to submit travel logbooks, municipal accounts, slips and pictures of your house — depending on what deductions you are claiming.
Take a peek at what you might be asked to provide:
Got any tax questions, pop up an email to the author zeemank@arena.africa and we will try get them answered.
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