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                *     Registered Professional Accountants in practice since 1982

             *     Registered Tax Practitioners

            

 

Accounting Officer .......  Management & Financial Accounting ...... Management Accounting for Profit ...... CC Formations and registrations...... Strategic Planning ...... Wills & Trusts ....... .

DEADLINES

Annual Duty one calendar month to the day after the incorporation date

Promotion of Access to Information Act manual 31 December 2021 extended yet again!

Special Voluntary Disclosure Programme 1 October 2016 to 31 August 2017

TAX SEASON 2017 FOR INDIVIDUALS

The 2017 Tax Season for Individuals opens on 1 July 2017. 
The deadlines are:

​Channel

​Deadline

Type of Taxpayer​​

Manual post or at SARS branch drop boxes​

​22 September 2017

​Non-provisional and provisional

eFiling or electronic filing at SARS branch ​

​24 November 2017

​Non-provisional

eFiling​

​31 January 2018

​Provisional

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.

 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 it.  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 1 March 2016 - 29 February 2017 for the 2016/2017 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 (e.g. interest or rent)
  • You are not claiming tax related deductions (e.g. medical expenses, retirement annuity contributions, travel expenses etc)
  • You received interest from a source in South Africa not exceeding -
    • R23 800 if you are below the age of 65 years;
    • R34 500 if you aged 65 years or older
  • Dividends were paid to you and you were a non-resident during the 2017 year of assessment.
  • Top tip: Trusts are required to submit an annual Income Tax Return (IT12TR), as well. 

 

Accounting 4 Financial Services

 

Financial Planning ....... Investments ........ Assurance