This year, the 2020 Individual Income Tax season is opening on the 1st of September 2020.
· Taxpayers who file online (via the SARS E-filing website or SARS MobiApp) have until 16 November 2020 to file their ITR12 returns;
· Taxpayers who are not able to file online can make an appointment at a SARS branch to file in person, they have until 22 October 2020 to do so;
· Provisional taxpayers who file online have until 29 January 2021 to file their ITR12 returns.
In preparation for the filing season, taxpayers should ensure they have the following information:
- All IRP5/IT3(a) certificates;
- Medical aid contributions certificates;
- Retirement annuity contributions certificates;
- Donation certificates;
- Other income information;
- Home office information;
- Address, banking details, etc updates;
- Any other relevant tax information.
Preparing your documentation in advance will ensure a smoother filing experience.
It is always advisable to chat to a tax practitioner who will assist you with tax filing and ensure you aren’t paying too much tax.