Individual tax season starts this Friday 1 July in South Africa for filing with the South African Revenue Services. The individual tax year is from 1 March 2021 up to 28 February 2022.
SARS has been on a drive to make filing season easier and easier for taxpayers each year. There are two ways to submit returns:
- Manually by going to the branch – by appointment only,
- Electronically via e-Filing.
Setting up your e-Filing is very simple and you need to have the following on hand to set up a profile:
- Your ID number,
- Your tax number,
- Your personal details such as bank account details and address.
Unfortunately for some taxpayers, SARS may require that you present yourself to them in order for the e-Filing profile to be activated.
The following taxpayers are exempted from filing their returns if ALL the criteria below apply:
- You only received one salary from one employer for the full year of assessment,
- Your employment income/salary is less than R 500 001 before tax,
- You have no travel allowance, company car, car allowance, or any other income,
- You are not claiming any tax related deductions/rebates such as medical expenses or retirement annuity contributions other than contributions made by your employer.
Documents to keep available for filing your return online:
- IRP5 from your employer,
- Medical aid certificate,
- Investment certificates from your bank for cash deposits or other investments such as shares,
- Retirement annuity contribution certificate,
- Logbook if you have a travel allowance,
- Home office expense details,
- Details on your other income such as rental income or royalties,
- Any other expenses incurred in the production of income.
To register on e-Filing, please go to https://www.sarsefiling.co.za/
Tax season is open until 24 October 2022 for non-provisional taxpayers, and until 23 January 2023 for provisional taxpayers.
For any assistance with filing your return, please contact us via our website on www.pstmco.co.za
