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Annual Tax season is here, and Income Tax return submissions starts on the 1st of July 2018. We’ve taken the liberty of answering frequently asked questions individuals may have.

The South African Revenue Service (SARS) has allocated different submission deadlines dependant on the manner of the submission.

What are the submission deadlines for Income Tax Returns?

Please pay careful attention to the deadline applicable to you:

Channel Deadline Type of Taxpayer
Manual – post or at SARS branch drop boxes ​21 September 2018 ​Non-provisional and provisional
eFiling or electronic filing at SARS branch ​31 October 2018 ​Non-provisional
eFiling ​31 January 2019 Provisional

Companies are exempt from the above-mentioned dates, as they are required to submit their returns within 12 months of their financial year-end, via e-filing.

Who is required to submit their income tax returns?

The threshold in respect of individuals required to submit a return is provided below:

  • Every individual who is a resident and had capital gains that exceeded R40 000;
  • You become liable to pay income tax when you earn more than:
    • R75 750 (if under 65 years),
    • R117 300 (if older than 65 but under 75 years) or
    • R131 150 (if older than 75)

Who is exempt from submitting a tax return?

A natural person, or a deceased’s estate is exempt from submission if their gross income consists solely of any one or more of the categories below;

  • Remuneration does not exceed R350 000 from a single source (including allowances);
  • They did not receive a car allowance or other income;
  • They received interest income from a source within South Africa that does not exceed:
    • R23 800 (if you are younger than 65 years) or
    • R34 500 (if you are 65 years and older);
  • They received dividends and were a non-resident during the 2018 year of assessment; and
  • received or accrued an amount from a tax-free investment.

What are the necessary supporting documents? 

  • IRP5/IT3(a) certificate(s) from your employer or pension fund;
  • IT3(b) certificates for investment returns; such as interest and/or dividends;
  • IT3(c) certificates for investment returns; such as capital gains/losses;
  • IT3(s) certificates from tax free investments;
  • Section 18A certificates for any donations made to SARS approved Public Benefit Organisation;
  • Financial statements (if applicable);
  • Medical aid contribution certificates and receipts for out-of-pocket medical expenses;
  • Completed confirmation of diagnosis of disability form (ITR-DD) (if applicable);
  • Retirement fund certificates;
  • Logbook and other documents in support of business travel expenses;
  • Bank account details; and
  • Any other relevant income and deduction information.

Please note this list is not exhaustive and only includes some of the most common supporting documentation.

To curb penalties and interest related to late submission, we strongly recommend collating the respective documents in preparation for submission to SARS as soon as possible. Should you require assistance with your Income Tax return, please contact our offices.

This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice.  Errors and omissions excepted (E&OE)