TAX RETURN SUBMISSIONS REVISITED

By: SD Management Consultants  08-25-2015
Keywords: Accounting & Tax Services, Tax Consultants

TAX RETURN SUBMISSIONS REVISITED In our June 2015 newsletter we set out the requirements where the submission of a 2015 tax return would not be required. Briefly these are where an individual earn less than R350 000 per annum and fulfills a series of criteria. There are however reasons why you should always file your return with SARS, here are some of them: • If you don’t file a return then you won’t be eligible for any kind of tax refund. A refund is money you overpaid on your taxes and it belongs to you. • If you wish to borrow money from a South African bank (mortgage or loan) you are required to have a Tax Clearance Certificate. This can only be obtained if all of your returns are up to date and filed appropriately. • In 5 or 10 years’ time SARS could request that you submit these returns and it’s unlikely that you would have retained all relevant documents required. • If you ever require proof of income your tax assessment is handy proof thereof. The important dates for the 2015 tax season are: • 30 September 2015 - Manual/postal submissions • 27 November 2015 - At a SARS branch (non-provisional) • 27 November 2015 - eFiling (non-provisional) • 29 January 2016 - Provisional taxpayers via eFiling

Keywords: Accounting & Tax Services, Tax Consultants

Contact SD Management Consultants

Email

Print this page

Share

Other news and updates from SD Management Consultants

08-25-2015

CLIENT QUESTION : STAFF BUSINESS TRAVEL EXPENSES

CLIENTS QUESTION Q: What is the correct amount to pay our staff if they are required to travel within


08-25-2015

PROVISIONAL TAX DEADLINE

2015 1st Provisional tax deadline 31 August 2015.


12-09-2014

EXTRACT FROM DECEMBER 2014 NEWSLETTER

TRANSACTING WITH TRUSTS – BEWARE OF THE PITFALLS In two fairly recent cases, the Supreme Court of Appeal (SCA) has


05-29-2012

Take note! Business Tax Form IT14SD

SARS is currently using its IT14SD business tax form more aggressively as a verification and compliance tool in order to