Category: Tax Season | Provisional Taxpayers
Tax season is here and we're here to help you stay on top of your tax returns! Here’s everything you need to know to file your Income Tax Return (ITR12) for the 2024 assessment year.
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Non-Provisional Taxpayers: Due Date: 21 October 2024
- If you're not a provisional taxpayer, your tax return must be submitted by this date. Miss this deadline? You could face administrative penalties for non-compliance. Avoid that stress and get it done early!
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Provisional Taxpayers: Due Date: 20 January 2025 (via eFiling)
- If you're a provisional taxpayer, you've got a bit more time but refrain from waiting till the last minute. Remember that should you have tax due the payment should reach SARS no later than 30 September to avoid interest. Filing early gives you time to resolve any issues that might arise.
Who doesn't need to file? You're exempt from filing a return for the 2024 tax year if:
- Your total income doesn't exceed R500,000.00 and you've been employed by one employer for the entire year with all PAYE deducted correctly.
- You've received no allowances (like travel allowance or taxable benefits).
- Your interest income is under R23,800.00 (under 65) or R34,500.00 (65 and over).
- You only earned tax-free investments or dividends exempt from normal tax
Documentation Checklist: Before you file, ensure you have:
- IRP5/IT3(a) for salaries, pension, and other income.
- Medical certificates from your medical aid for medical expenses.
- Proof of contributions to retirement annuities and tax-free investments.
- A logbook if you're claiming travel expenses.
- Certificates for local or foreign interest/dividends.
- Any documents related to capital gains or rental income.
- Receipts for commission-related expenses if applicable.
Top Tip:
Keep all supporting documents on hand for at least 5 years. SARS may request them for verification. How to File:
- Register for eFiling at SARS Online – It’s the fastest and easiest way.
- Prefer mobile? Use the SARS MobiApp on iOS or Android.
- Need help? Email us and book a telephonic appointment.
Get ahead of your tax obligations and avoid any last-minute stress! If you have questions or need assistance, we're just a call away. Let's ensure a smooth and stress-free tax filing experience for you.
