THE money TIP
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.