Its that time of the year again!

It’s that time of the year again! The 2018 Tax Season for Individuals opens on 1 July 2018 for eFilers and branches will be open to assist from 2 July 2018. If you want to avoid long queues, it is a good idea to register for eFiling! Its quick, easy and efficient to use!

There has been an amendment to the deadline dates for submission, and it has been brought forward, please take note of the revised submission dates:

Channel

Deadline

Type of Taxpayer

Manual – post or at SARS branch drop boxes

21 September 2018

Non-provisional and provisional

eFiling or electronic filing at SARS branch

31 October 2018

Non-provisional

eFiling

31 January 2019

Provisional

 

Don’t file if you don’t need to:

You do not need to submit a return if ALL the criteria below apply to you:

  • Your total employment income / salary for the year (March 2017 to February 2018) before tax (gross income) was not more than R350 000; and
  • You only received employment income / salary for the full year of assessment (March 2017 to February 2018) from one employer; and
  • You have no car allowance/company car/ travel allowance or other income (e.g. interest or rental income); and
  • You are not claiming tax related deductions/rebates (e.g. medical expenses, retirement annuity contributions other than pension contributions made by your employer, travel).
  • Contact your TAX consultant and visit http://www.sars.gov.za/Tax-Rates/Income-Tax/Pages/default.aspx for more information!

 

Elena Bevilacqua CFP® Professional

Senior Financial Planner

BCom Hon: Financial Management

EDGE FINANCIAL GROUP

elena@edgefinance.co.za

Tel: (021) 555 0839

Read More