Tag Archives: tax

Tax Season 2015

Tax Season 2015

Well it is that time of year again, tax season. It is time to get all of our affairs in order and submit for refunds. By now, you should have received an IRP5 from your employer, if not, request one right away. Make sure you get a medical aid certification if you pay your own medical aid, any additional income streams, rental income accounts and tax certificates for any retirement annuities. If you do your taxes all on your own, you know how hard it…

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How to use SARS eFiling to file Income Tax Returns

How to use SARS eFiling to file Income Tax Returns

Submitting your income tax return with SARS eFiling is easy once you get used to the system. As with all your tax returns, filling out your tax return 100% correctly is of utmost importance. Step 1: Logging in Go to www.sarsefiling.co.za. On the top right-hand corner will be two buttons: Register and Log in. Click Log in and type in your username as password. Then click Login. Step 2: Generate your ITR12 tax return Make sure that your name appears at the top under Taxpayer…

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Tax Rates 2015

Tax Rates 2015

As we all know, the national budget was presented yesterday, 25 February 2014. The government made it clear that they plan to increase personal income tax from 1 March 2015 to 28 February 2016, by 1%. Some of you are most-likely worried or you didn’t event get to witness the budget.  You’re in luck because we have made notes and decided to post it here. It’s a little out of the ordinary but you need to know how much you pay before you can get…

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Employment Incentive Tax (ETI) Refund Process

Employment Incentive Tax (ETI) Refund Process

How does it work? The Employment Tax Incentive Act and the draft amendments to this Act in terms of the Draft Taxation Laws Amendment Bill, allows for the introduction of a refund processs that will refund employers the amount of the ETI that’s allowable. An ETI refund will only be paid out if an employer is tax compliant. All tax returns must be submitted and there is no outstanding tax debt when the Employer Reconciliation documents are received and processed by SARS. When was the…

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Get your tax number

Get your tax number

Simply click here to download the IT77 form, print it out and follow these easy steps to completing it. 1. You will need the following documents to be submitted with your completed IT77 form: A certified legible copy of your ID, passport or drivers license. Certification of copied documents can be done at your nearest police station (just remember to take the original along too). Proof of address (this can be a rates bill, utilities bill, phone bill, bank statement etc – anything that shows…

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How to use SARS eFiling to file Income Tax Returns

Personal Income Tax Return

Who must complete and submit a personal income tax return? All taxpayers that earns any form of remuneration more than R250 000 per year from a single employer, must complete and submit a personal income tax return. If the individuals also has any other non-remuneration income, he or she must submit a return on an annual basis. Who is not required to submit a return? A taxpayer still has to register for income tax but he or she is not liable to to submit a…

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