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 In Articles, Tax



The 2020 tax filing season opens on 1 August 2020… well sort of……

This year because of the COVID-19 Pandemic the traditional filing season will have a staggered start:

–  01 August 2020 those qualifying for “auto assessment” by SARS
–  01 September 2020 to 22 October 2020 – manual submissions at a SARS branch
–  01 September 2020 to 16 November 2020 – taxpayers who file via eFiling or the App
–  01 September 2020 to 31 January 2021 – provisional taxpayers who file electronically

As quick as you can, get the following information to your tax practitioner as they do require it when completing your income tax return!

Salary, pension and annuities
IRP 5 certificates or IT 3(a) certificates

Interest received or accrued (local and/or foreign)
IT3(b) certificates

Travel Logbook
Please note that from 2010 you may not claim your mileage if you did not keep a logbook.

Other South African income
Rental income, business/freelance income (if IRP5 or IT3 (a) not issued by employer) etc. If married in community of property, the rental- and investment income of your spouse must also be provided, as well as the foreign taxes (if any) paid by your spouse. If the source of this income was as a result of an inheritance specifically excluded from the joint estate, you do not have to provide this information in respect of your spouse.

Details of local dividends (even though it is tax-free) and foreign dividends received or accrued.

Lump sums:
Certificates reflecting lump sums received as a result of retirement from a pension fund and/or retirement annuity fund.

Home office
No expenses in respect of an office at home may be claimed, unless a business is run from home.

Capital Gains Tax (“CGT”)
CGT became effective from 1 October 2001 and you are requested to provide the market value as at 1 October 2001, as well as selling price and date of sale of any item that qualifies for CGT, e.g. property which is not your primary residence, shares, bonds, Kruger Rands etc.

Expenses incurred in the production of income
Proof of all expenses incurred in the production of commission-, rental-, business-, and/or freelance income.

Medical expenses
Proof of medical subscriptions (if any) and expenses not recovered from a medical aid. (Note that non-prescribed medicine does not qualify). Proof of all expenses incurred as a result of permanent physical or mental disability, which could not be claimed from a medical aid.

Contributions to Retirement Annuity Funds (“RAFs”)
Certificates reflecting contributions to RAFs.

Certificates/receipts reflecting donations (if any), these certificates must be issued in terms of section 18A of the Income Tax Act No. 58 of 1962.

Retired individuals
If you retired during the tax year, please provide Forms A and D which can be obtained from your employer/pension fund.

Bank details
Details of your bank account, i.e. name of institution, branch code, account number and type of account.

Our Services:

At SME.TAX we do more than just assist clients with their provisional taxes.

We are your “one stop SME shop”, assisting with everything from Accounting, Business Management, BEE, Consulting, Company Registration to Payroll and Mentoring.

For more information, please visit our website or give us a call on 072 207 4789

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