What We can Do When it Comes To Tax.
Personal income tax is the money you pay to government from your salary or wages, to help pay for roads, schools, hospitals and other government services. The South African Revenue Services (SARS) manages the collection of taxes and ensures that all working citizens contribute fairly.
The 2016 tax season for individuals kicked off on 01 July 2016.
What happens during tax season?
The tax season runs from July to November every year. For provisional taxpayers who submit via eFiling, it runs until January of the following year.
During tax season, you need to submit an ITR12 form (which is your official Income Tax Return) so that SARS can calculate your tax on your income and the tax-deductible expenses for the year being assessed (1 March 2015 - 29 February 2016).
If, after considering all your income and expenses, SARS determines that you’ve paid too much tax, you’ll receive a refund. If you haven’t paid the full amount due, you’ll be asked to pay the outstanding amount.
For information on how to fill in your ITR12 form correctly, please see:
- completing your ITR12, or
- ITR12 – Comprehensive Guide.
The important 2016 deadline dates are:
- 25 November 2016 - at your nearest SARS office (non-provisional)
- 25 November 2016 - eFiling (non-provisional)
- 31 January 2017 - provisional taxpayers via eFiling
Here’s what you need to know before you get started on your tax return this year.
The amount of personal income tax that you pay depends on:
- how much you earn,
- your age (whether you’re under 65 or over 65), and
- whether you’re a member of a pension fund or pay towards a retirement annuity fund.
To get ready to submit your tax return, you'll need to gather all your supporting documents which may include the following:
- IRP5/IT3(a) certificate(s) from your employer or pension fund.
- IT3(b) certificates for investment returns.
- Financial statements, if applicable (for example: business income).
- Medical aid contribution certificates and receipts.
- ?Retirement annuity fund certificates.
- Certificates you received 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.
Read more about the complete list of supporting documents you may need.
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