The Tax Season commences today on 1 July 2019, which means income tax return forms (ITR12) may now be submitted. The return will cover your income for the period 1 March 2018 to 28 February 2019.

Should I submit a form?

The most common reasons why you will need to complete an income tax form (ITR12) and submit it to SARS are:

  • If you earned more than R500,000 for the year from one employer; or
  • If you had more than one IRP5 certificate for the year; or
  • If you get grants (e.g. travel allowance) as part of your package; or
  • If you are a director of a company or a member of a CC; or
  • If you have assets of more than R 225,000 overseas; or
  • If you made capital gains of more than R40,000 during the year;
  • If you have earned interest income in excess of R23 800 for the year
  • If you have any medical aid or annuity fund contributions to deduct for tax
  • If you earn any business income. (Rental, Farming, etc.)

You should also submit a form if you’ve received allowances in order to claim the appropriate expenses and receive any tax refund that you are due.

How do I submit a form?

At the respective SARS offices, mobile SARS kiosks that are available from time-to-time, but in most cases, it is through the online “e-filing” platform.

Can someone else submit my form?

A registered tax practitioner may submit your forms to SARS on your behalf.

What do I need to submit a form?

The information you need to complete the tax form includes the following:

  • IRP5’s / IT3’s
  • Medical Aid Fund Certificate
  • Annuity Fund Contribution Certificate
  • Logbook if a travel allowance has been earned
  • IT3s from all investment institutions
  • Income and expenses relative to any business operated during the year

How can Enslins help me?

Enslins is well-equipped to help with tax returns and we have in-depth knowledge and years of experience in this field.

We are also able to assist the taxpayer with effective communication with SARS if they have additional inquiries about their income or deductions, and if SARS makes any miscalculations on the assessment.

We are also able to assist you with any tax issues that you’ve been struggling to resolve from previous periods