Filing your tax

2017-07-19 06:00

TAX season opened on July 1. eFilers are normally the first to file and for those who prefer filing the “paper” way, there are branches that will help. Filing your tax can be done easily.

Documents needed:

IRP5/IT3(a) certificate(s) from your employer or pension fund

IT3(b) certificates for investment returns

Financial statements, if applicable e.g. business income

Medical aid contribution certificates and receipts

?Retirement annuity fund certificates

Certificates you received for local interest income earned

Logbook and other documents in support of business travel expenses

Completed confirmation of diagnosis of disability form (ITRDD), if applicable Any other relevant income and deduction information.

Bank account details

Proof of identity if you wish to visit a branch

You don’t need to file your return if your total salary earned from March 1, 2016 – February 28, 2017 for the 2016/2017 year of assessment is not more than R350 000 (before tax), provided:

You only have one employer (but remember if you have two employers or income sources e.g. late spouse or partner pension income, exam markings income, rental income, moonlighting income, et cetera, you do need to file even if the total is still under R350 000); you have no car allowance or other income (e.g. interest or rent); you are not claiming tax-related deductions (for example medical expenses, retirement annuity contributions, travel expenses and more); you received interest from a source in South Africa not exceeding:

• R23 800 if you are below the age of 65;

• R34 500 if you aged 65 or older;

• dividends were paid to you and

• you were a non-resident during the 2016/2017 year of assessment.

- Quinton Lourens.

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