Changes as tax season begins
JOBURG - According to Stiaan Klue, chief executive of the South African Institute of Tax Professionals, taxpayers are keen to file early in order to receive a refund quickly from the South African Revenue Services (Sars), but they need to first confirm whether or not they are even legally required to file.
Klue said Sars has published tips for the filing season. Taxpayers who earn less than R350 000 per annum and don’t claim medical aid and pension are not required to file returns. “This is due to the monthly pay as you earn tax already deducted by the employer. However, individuals who earn less than R350 000 per annum, and from more than one employer, must file a return,” he said. Klue added that sometimes employers deduct too little tax on a monthly basis, and once a return is filed, Sars may require that the individual pay more.
Meanwhile, Sars spokesperson Luther Lebelo said, “The major change impacting taxpayers this tax season relates to who is required to submit an Income Tax Return (ITR 12).”
He said this year, taxpayers whose total salary for the year is below R350 000 (in the last tax season the threshold was R250 000) may not need to submit a tax return if the following criteria applies to them:
- Their total salary for the year before tax is not more than R350 000
- They only receive employment income from one employer for the full year of assessment
- They have no other form of income such as car allowance, business income, taxable interest or rent or income from another job
- They don’t have any additional allowable tax deductions to claim such as medical expenses, retirement annuity contributions and travel expenses.
Lebelo also advised taxpayers that they should have the applicable documents on hand to complete their tax returns, such as:
- IRP5 or IT3(a) certifcates from their employer or pension fund
- Financial statements (e.g. business income)
- Medical aid certificates and receipts
- Retirement annuity fund contribution certificates
- Tax certificates for investment income (IT3(b))
- A completed confirmation of diagnosis of disability form (ITR-DD)
- Information relating to capital gain transactions
- Travel logbook.
He said, “Remember, if you’re filing at a Sars branch you must bring all the listed documents applicable to you, plus original proof of identity (ID, temporary ID, passport or driver’s licence). If there is any uncertainty about who should submit a tax return, taxpayers can get assistance on the 2015 Tax Season page on the Sars website. Alternatively, taxpayers can call the Sars contact centre on 0800 00 7277.”
