THE money TIP

CityPress - - Business -

Don’t for­get to sub­mit your tax re­turn be­fore the Novem­ber 24 dead­line – if you miss it, you’ll pay a penalty for the trans­gres­sion. To en­sure you have a smooth ex­pe­ri­ence, fol­low these tips:

. Get all your sup­port­ing doc­u­ments ready. Get your IRP5/IT3 (a) from your em­ployer or pen­sion fund. Get your tax cer­tifi­cates for your in­vest­ment in­come and your tax-free sav­ings cer­tifi­cate IT3 (s), as well as any fi­nan­cial state­ments, such as for busi­ness in­come.

. Gather to­gether any proof of de­duc­tions. For ex­am­ple, med­i­cal scheme con­tri­bu­tion cer­tifi­cates and re­ceipts, re­tire­ment an­nu­ity funds and your travel log­book.

. Be care­ful about who you ask for help. Tax iden­tity fraud is real and the SA Rev­enue Service (Sars) rec­om­mends that tax­pay­ers pro­tect their in­for­ma­tion, bank­ing de­tails, and lo­gin name and pass­word at all times. Be wary of peo­ple who of­fer to com­plete your tax re­turn and prom­ise you that they can get you a re­fund. Only deal with reg­is­tered tax prac­ti­tion­ers.

. Ask ques­tions if you’re un­cer­tain. To get help from Sars, call 080 000 7277. Al­ter­na­tively, visit a Sars branch or mo­bile unit.

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