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Requirements in order to complete your 2016 tax return


The 2016 tax filing season opens on 1 July 2016.

Deadline dates for the submission of returns are as follows:

25 November 2016 Manual submissions for non-provisional taxpayers;
25 November 2016 E-filing submissions for non-provisional taxpayers;
27 January 2017 Compliant provisional taxpayers using e-filing.

If there is a possible shortfall on tax payments for the 2016 fiscal year on provisional tax, you will still be able to calculate your top-up payment in order to provide you with the option of settling your income tax liability “interest-free” on or before 30 September 2016.  You therefore need to submit your information as soon as possible to your tax consultant.

Your check list (where applicable):

1 Income – IRP5 or IT3(a) certificate  
2 Income from investments/Interest on loan accounts – IT3(b) certificate  
3 Local/foreign Capital Gain/Loss – IT3(c) certificate (including sale of property, shares in private companies, etc.  
4 Any other income – please provide details (e.g. inheritance received, etc.)  
5 Business income – full details of income and expenditure  
6 Lump sum income – IRP5 certificate  
7 Rental income – full details of income and expenditure including period let  
8 Medical contributions certificate and expenses – medical aid certificate and proof of “other expenses”  
9 Donations – S18A certificate reflecting proof of donation made  
10 Pension Fund or Retirement Annuity Fund contribution certificates – certificate reflecting proof of contribution paid  
11 Travelling allowance – make/model of motor vehicle, registration number, cost thereof and opening and closing km’s (kindly provide us with your compulsory logbook detailing split between business/ private mileage, destination, reason for travel).  Please detail any change in motor vehicles.  
12 Subsistence allowance – detail number of days spent away from home on business (local and international) and kindly include destination  
13 Changes to Assets and Liabilities including sale and purchase of fixed property.  

SARS requires you to ensure that all your personal details are correct (e.g. physical address, telephone numbers or e-mail address) as well as details of your banking account irrespective of whether you are entitled to a refund or not.

We wish to point out that your tax consultant cannot request documentation on your behalf from third parties (i.e. previous employers, insurance companies, banks, etc.) for confidentiality reasons.  It is therefore of the utmost importance that you provide them with all the necessary documentation and information to enable them to submit your tax return correctly and timeously.

Please note that SARS are confirming investment income information received from Financial Institutions with details recorded in the tax returns submitted.  Please ensure all investment income is supplied to them.

Please do not hesitate to contact us should you require any further information.

Director:  Jessica Southgate
Nwanda Financial Services (Pty) Ltd

This article is a general information sheet and should not be used or relied upon 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. Errors and omissions excepted (E&OE)

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