1. Don’t delay – start today
Filing an income tax return can take more time and effort than you might imagine, so get started with the process right now.
Don’t wait until the absolute deadline to file since SARS offices can be very busy at this time and the eFiling service has been known to fold under deadline demand.
Read more: Top 5 tips for a painless tax season
If you are due a refund, the sooner you file, the sooner you’ll get your money. And if you have underestimated your tax contribution, you may be able to save substantially on penalties and interest payable if you do submit early.
2. Use eFiling
You don’t need to stand in queues or fill in paper-based returns any more, thanks to eFiling by SARS. This service is convenient, secure, easy to use, and is available 24 hours a day, seven days a week.
If you use eFiling you have until 27 November to submit your return.
3. Get your supporting documents ready
Gather all your supporting documentation so that you have it on hand to file and can produce it if SARS asks for it in an audit.
Supporting documents may include:
• Your IRP5 tax certificate from your employer
• An income tax certificate from your medical aid scheme
• A list and the receipts of medical expenses not covered by your medical aid scheme
• A tax certificate for your contributions towards a retirement annuity fund
• A detailed logbook specifying your business trips and travel costs for the period
4. Be honest
It is illegal to lie on your tax return by inflating your expenses or not declaring your correct income, and the penalties for false declarations on tax returns are steep.