During tax season, individuals need to submit their income tax return (ITR12), so Sars can reconcile the tax on the individual’s income and the tax-deductible expenses for the year of assessment (March 1, 2015 to February 29, 2016).
This may, in some cases, result in a refund. Tax season runs from July to November every year.
For provisional taxpayers who submit via eFiling, it runs until January of the following year.
Important due dates
*November 25: At a Sars branch (non-provisional)
*November 25 – eFiling (non-provisional)
*January 31 – Provisional taxpayers via eFiling
Supporting documents
To get ready to submit your tax return, you will need to gather all your supporting documents, which include the following:
*IRP5/IT3(a) certificate(s) from your employer or pension fund
*IT3(b) certificates for investment returns
*Financial statements, if applicable, e.g. 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
Top tip: Even though you will be using the supporting documents to complete your return, you mustn’t send them to Sars.
You must keep them safely for a period of five years, should SARS require them in future.
Remember, if you’re filing at a Sars branch you must bring all the documents applicable to you, plus original proof of identity (ID, temporary ID, passport or driver’s licence).
Top tip: Check your IRP5 and verify if all the information is correct before attempting to submit the return.
If you notice any errors which might need to be corrected, kindly advise your employer to rectify these. You will not be able to change these prepopulated fields on the return.
* Not everyone needs to submit an income tax return
You don’t need to file your return if your total salary earned during March 1 to February 29 for the 2015/2016 year of assessment is not more than R350 000 (before tax), provided:
*You only have one employer (but remember if you have two employers or income sources e.g. late spouse/partner pension income, exam markings income, rental income, moonlighting income, etc., you do need to file, even if the total is still under R350 000)
*You have no car allowance or other income
*You are not claiming tax-related deductions (such as medical expenses, retirement annuity contributions, travel expenses)
*You received interest from a source in South Africa not exceeding R23 800 if you are below the age of 65 years and R34 500 if you aged 65 years or older
*Dividends were paid to you and you were a non-resident during the 2016 year of assessment.
