Tax season opens
The tax season has arrived and therewith hundreds of people.
The South African tax season began on 1 July and large numbers of people braved the icy Standerton weather to stand in a long queue, similar to the long voting queue in 1994.
People began patiently queuing in the early hours of last Wednesday morning in front of the South Africa Revenue Services (SARS) all the way to Mbonani Mayisela Street.
The filing period began on 1 March last year until 28 February.
The National Treasury has set a target of R1,1-billion for the 2015/16 fiscal year.
Taxpayers need to have:
• an IRP 5 from their employer.
• Proof of medical expenses such as medical aid and other invoices.
• Interest received certificate such as IT 3.
• Travel logbook if embarking on business travel on behalf of an employer.
The important deadline dates for the 2015 tax season are:
• 30 September : Manual and postal submissions.
• 27 November : Handing in applications at a SARS branch.
• 27 November : e-Filing.
• 29 January 2016: Provisional taxpayers via e-Filing
The tax season runs from July to November each year, but for provisional taxpayers, who submit a return via e-Filing, it runs until January of the following year.
If your total annual salary before tax is R350 000 or less, you do not need to file a return.
