As mentioned in a previous post, tax season 2012 is now upon us. Manual returns have to be submitted by the 28th of September, and SARS efiling submissions need to be completed by the 23rd of November 2012. Provisional tax payers have a little more time with their submissions due in January next year.

To assist you with your returns, and answer any questions you might have, we will be posting two frequently asked questions on the blog each week for the next few weeks. If you have any burning issues, post your comment in the comments section below, and we will endeavour to assist you as quick as possible. Alternatively, connect with us on Twitter: @SageGroupZA

If you are unsure if you should submit a tax return, or what format it should be submitted in, take a look at the below list.

In the period of 1 March 2011 to 29 February 2012,  

  • Did you conduct any trade* in South Africa?
  • Did you receive an allowance such as a travel, subsistence or Office Bearer Allowance?
  • Do you hold any funds or assets outside South Africa that have a value of more than R50 000?
  • Did you have a local Capital Gain/Loss exceeding R20 000?
  • Did you receive any income or Capital Gain in a foreign currency?
  • Do you hold any rights in a Controlled Foreign Company?
  • Did you receive an Income Tax Return or were you requested to submit a Income Tax Return for the year in question?

If you answer yes to any of the questions, you are required to submit a tax return.

There are three ways to submit your return:

  • eFiling: The most convenient and quickest way to do it
  • Filing electronically at a SARS branch
    • Completing your return in writing and posting it to SARS or popping into a SARS drop box

Next week we will cover the ins and outs of eFiling, but if there is something you urgently need to know, get in touch with us below.