2018 Personal tax returns
Tax returns for the 2018 year of assessment can still be submitted. This is also the case for tax returns prior to the 2018 year.
2019 Personal tax returns
The filing season for the period ending 28 February 2019 will open in July 2019. Employers will start to send out IRP5 to employees from May. And the medical aid certificates and investment documents(IT3) will also be sent during the same period. It is important to keep copies of all these documents in order to prepare and submit your tax return.
Employees who’s commission received is more than 50% of their total remuneration, can also claim business expenses on their tax. Click here for a list of expenses that can be claimed. These expenses should be summarized before the tax can be submitted. Click here for a template to calculate your income and expenses.
When a tax profile is moved from one tax practitioner to another it takes 6 days to be available. If a taxpayer has never had a Efiling profile, chances are very good that their contact details will have to be updated first. This has to be done at a SARS. Only then can a profile be registered. Click here for all the detail needed to register a profile.
If you have never submitted tax, it is very important to determine whether any admin penalties have been raised on your account. If there is admin penalties, it can lead to SARS taking money from your bank account. It is possible to have admin penalties reversed, depending on the income you received during the year in question.
To submit return – R400
Preparing and submitting documents for audit – R150
Follow up on audits/disputes – R50