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HOW TO FILE INCOME TAX RETURNS: YOUR GUIDE TO FINANCIAL RESPONSIBILITY

Staff Writer · 3 min, 3 sec read


In the intricate dance of modern financial life, filing taxes stands as a
significant pillar.

In South Africa, as in many other countries, this task may appear daunting, but
understanding the tax-filing process and its inherent importance can equip you
with the knowledge and confidence needed to perform this essential civic duty
with ease.




UNDERSTANDING THE BASICS OF THE SOUTH AFRICAN TAX SYSTEM

Before delving into the specifics of filing taxes in South Africa, let's first
explore the fundamentals of the South African tax system. The South African
Revenue Service (SARS) manages the tax system, which includes income tax,
corporate tax, value-added tax (VAT), and capital gains tax. Every year,
eligible individuals and companies must submit tax returns to SARS to declare
their income and pay any taxes owed.


THE PROCESS OF FILING TAXES

1. Online Submission: You can easily file your taxes in South Africa online via
SARS eFiling or the SARS MobiApp. It requires you to first register for eFiling
on the SARS eFiling website or through the MobiApp. The initial page of the form
contains several questions regarding your tax affairs, which helps tailor the
tax return to your specific needs.

2. In-Branch Submission: If you prefer an in-person approach, you can submit
your tax returns at a SARS branch office. However, make sure you've booked an
appointment in advance. The branch locator can help you find the nearest office.



3. Auto-assessment: SARS will auto-assess a significant number of taxpayers
based on third-party information gathered from various institutions like banks,
fund administrators, insurers, medical aid schemes, and employers. If you
disagree with the assessment made by SARS, you have 40 business days to submit
your original return.


TOP TIP WHEN FILING YOUR TAXES: YOU WILL NEED THE FOLLOWING DOCUMENTS:

 * Your IRP5: This is the employees’ tax certificate your employer issues to
   you.
 * Certificates you received for local interest income earned.
 * Any other documentation relating to income received or accrued, such as
   remuneration that has not been reported to SARS by your employer, or business
   or investment income.
 * Details of medical expenses paid and medical scheme contributions made.
 * The relevant certificates reflecting your retirement annuity fund
   contributions made.
 * A logbook and other documents in support of business travel expenses (if the
   travel allowance is part of your remuneration or if you have the right of use
   of a company car taxable benefit).
 * Any other documentation relating to the allowable deductions you wish to
   claim.


THE IMPORTANCE OF FILING TAXES

Filing taxes isn't just about complying with the law—it serves a much larger
purpose. Here are key reasons why it is crucial:

1. Funding Public Services: The tax revenue collected by SARS is used to fund
public services and infrastructure. This includes healthcare, education, social
security, and transportation, which are integral to South Africa's development
and the well-being of its citizens.



2. Promoting Economic Stability: Tax revenue helps maintain the country's
economic stability. It enables the government to pay its debts, thus avoiding
financial crises, maintaining investor confidence, and encouraging economic
growth.

3. Building a Responsible Citizenry: Filing taxes promotes accountability and
responsible citizenship. It is an essential part of contributing to society and
ensuring that everyone pays their fair share for the services they benefit from.

Filing taxes in South Africa, though initially may seem a tedious process, is
both a personal obligation and a contribution to the collective betterment of
the nation. Armed with the right knowledge and a positive mindset, it is a task
that can be accomplished with relative ease, contributing to the robust
financial fabric of South Africa. So when the tax season approaches, remember:
you're not just crunching numbers, you're playing an active role in building a
prosperous South Africa.



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