What do I need to submit my Tax return?
IRP5/IT3(a) certificate(s) from your employer
Medical certificates and documentation for any claims
Pension & retirement annuity certificates
Correct banking details
If you are permanently employed, most companies will pay monthly PAYE on your behalf.
Additional requirements, if applicable:
Travel logbook (if you receive a travel allowance)
IT3(b) Tax certificates of investment income
ITR-DD confirmation of diagnosis of disability
Information regarding capital gain transactions
Voluntary Disclosure Programme (VDP) Agreement
Financial statements
Any documentation relating to income received or deductions being claimed
If I fall below the threshold, do I still need to submit a Tax return?
The threshold for submitting a Tax return currently sits at R500 000. If you earn below R500 000 annually, from a single employer, and do not have any deductions to claim for, then you do not have to file a tax return.
Allowable Deductions Include, among other things:
Travel allowances
Travel expenses
Medical aid contributions
Retirement annuity fund contributions
The only time you will have to submit a return (if you earn below the threshold) is if your income comes from more than one source. For example, if you have more than one employer, earn rental income or interest income.
When will I receive my refund from SARS?
Provided that you are in good standing with SARS and the verification of your return has been finalised, the refund can take up to 21 business days to be processed. Ensure that your banking details are correct and have been verified.