Documentation required for Income Tax Returns – Individuals

2015 Deadlines for Income Tax Returns for Individuals:

• 30 September 2015 – Manual Submission
• 27 November 2015 – eFiling Submission (non-provisional taxpayers)
• 29 January 2016 – eFiling Submission for Provisional taxpayers

The following documents should, if applicable, be submitted to the accountant who completes your tax return and should be available if the South African Revenue Service (SARS) requests them:

1. IRP5 and IT3 certificates

IRP5 and IT3 certificates reflecting salary, annuities, pension and other income received.

2. Interest received – local and foreign

IT3 certificates reflecting the interest received for the year 1 March 2014 – 28 February 2015 relating to savings accounts, cheque accounts, fixed deposits and other investments.

3. Dividends received – local and foreign

Details and/or proof of dividends received.

4. Bequests and donations received

Details and/or proof of bequests and donations received.

5. Capital gain or loss

The following information is required:

• Was the asset your residential property?
• Return on the sale of the asset.
• Base cost of the asset, i.e. the purchase price if purchased after 1 October 2001, or a capital gain valuation of the asset.

6. Other income

Details and/or proof of other income (e.g. partnership income).

7. Medical fund contributions

– Medical fund contribution certificate.

– Proof of payment of claims not covered by your medical fund and paid by yourself.

8. Annuity fund contributions

Annuity fund contribution certificates.

9. Travel allowance

If you wish to claim expenses against your travel allowance, the logbook for the tax year is required, together with the following information concerning the vehicle for which you received the travel allowance:

• Make and model
• Year of manufacture
• Purchase price
• Registration number
• Kilometre reading on 1 March 2014
• Kilometre reading on 28 February 2015

If you kept a record of travel costs incurred during the year, proof of the following is required:

– Fuel and oil consumption

– Repairs done

– Insurance and licence fees

– Lease/Installment agreement

View the logbook:

http://www.sars.gov.za/AllDocs/Documents/Logbook/2014-2015%20SARS%20Logbook.pdf

10. Income protector

Contribution certificates.

11. Donations

Proof of deductible donations.

12. Other information

Details of any other action or event that may influence your tax liability.

Download the checklist here: http://www.nwanda.co.za/Downloads/2015/List.pdf

This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice.