Tax Season 2018 for Individuals

 

The 2018 Tax Season for Individuals has opened on 1stof July 2018

We have come to the middle of the first month of the 2018 tax season, but do not stress, there is still more than enough time to finalise and submit your income tax return (IT12).

 The deadlines for filing your IT12 income tax return are:

  • 21 September 2018– Manual/Post or at SARS branch
  • 31 October 2018– e-Filing or electronic filing at SARS branch
  • 31 January 2019– e-Filing (provisional taxpayers only)

To ensure a speedy completion and submission of your income tax return, we at
C Tax Solutions urge all taxpayers to submit the following supporting documents applicable to yourself, to us at your earliest convenience.

 Supporting documents required:

  • IRP5/IT3(a) certificate(s) from your employer or pension fund.
  • IT3(b) certificate(s) received for investment income
  • Financial statements for any additional business income
  • Retirement annuity contribution certificates
  • Medical aid contribution certificates and summary of medical expenses
  • If applicable, your confirmation of diagnosis of disability form (ITR-DD)
  • Logbook to support business travels
  • Updated bank account details

 Accurate claims

The revenue service has urged taxpayers to ensure that they have the correct documents and proof for every claim they make.

This is by using only information and figures that reflects on supporting documents as well as using only the amounts reflected on contribution certificates (retirement annuity, medical aid etc.).

SARS has also urged taxpayers to make sure they keep an accurate logbook and do not fabricate kilometres travelled or inflate the value of vehicles.

 Do I need to submit a IT12 income tax return?

Not everyone needs to submit an income tax return. If your annual salary is not more than R350,000 (gross earnings before tax), provided:

  • You only have one employer (but remember if you have two employers or income sources you do need to complete and submit a return even if the total is under R350,000
  • You have no car allowance or other income (e.g. interest or rent)
  • You do not claim tax related deductions (e.g. medical, retirement or travel expenses)
  • You received interest from a source in South Africa not exceeding the exemptions allowed
  • Dividends were paid to you and you were a non-resident during the 2018 year of assessment

Forgot your e-Filing login name and password…

If you realise that you have forgotten your e-Filing login name and password, all you have to do is visit the www.sarsefiling.co.zawebsite and click on the login button, then click on the question mark icon for a reminder of your login name or to reset your password.

If you have forgotten both the login name and password, you then complete the “I forgot my login name” process.

If this is unsuccessful, taxpayers can call SARS on 0800 00 7277.

 Scams!!!

Taxpayers should not be fooled by scams asking for their personal information, as SARS will not request a taxpayer’s banking details in any communication received via post, email or SMS. The revenue service will not send taxpayers any hyperlinks to other websites, including those of banks.

However for the purpose of telephonic engagement and authentication purposes, SARS will verify your personal details.

Should taxpayers require further, they can call the SARS contact centre on 0800 7277 or visit their nearest SARS branch