By browsing our website, you accept the use of cookies. Our use of cookies is explained in our privacy policy.
Click the PRODUCTS & SERVICES button on the left to expand it again.
Ok. Got itHow and when to submit your tax returns.
All you need to know about submitting your tax returns.
Submitting tax returns is a crucial element of each financial year in South Africa. If you don’t submit your return accurately, completely, or at all, you will incur penalties from the South African Revenue Service (SARS). The good news is that we are here to help. We have developed a user-friendly and easy-to-follow tax guide that spells out the basic information you need to know
Who is required to submit tax returns?
Whether you are a South African resident with local or offshore income, or you are not a South African resident but you make money in South Africa, you must pay tax and submit tax returns. Individuals, trusts and estates of deceased people must submit tax returns between 1 July to 23 January of the following year via the SARS MobiApp, website and by appointment, at a SARS branch. Companies must submit their returns within 12 months of their financial year-end and they can submit at a SARS branch by appointment only.
Documents you will need to submit your tax return.
The documents you need will vary depending on what you do. When you submit as a salary earner or as someone who donates to charity through an employer, you need to submit an IRP5 certificate. When you submit as a direct charity donor, you need to submit a section 18A certificate from the S18A-approved Public Benefit Organisation you are donating to, and when you submit as a recipient of a pension/annuity and/or lumpsum from retirement funds you need to submit an IT3(a) certificate. When submitting for South African and/or foreign-related income, you are required to submit an IT3(b) and an IT3(c) certificate or statement. There is also an option to claim for medical expenditure, which requires you to submit a tax certificate from your medical scheme, proof of medical payments made by you instead of by your scheme, and an ITR-DD form (a confirmation of diagnosis of disability) if you are claiming for disability purposes.
How we can help you.
The tax submission process can be daunting and confusing. It is important to be informed in advance, and to further get assistance when you submit your tax returns. If you don’t have a tax practitioner to assist you, our wealth advisors (wealth managers, financial planners, private bankers and structured lenders) can put you in touch with a Nedgroup Trust tax practitioner.
For more information:
Connecting you with expertise, advice and ways to structure your wealth optimally both during and after your lifetime.
Connecting you with expertise, advice and ways to structure your wealth optimally both during and after your lifetime.