Tax season happens every year and there are certain items that are important to remember when submitting your tax return. Whether you do this submission or even if you get a tax practitioner to do it on your behalf, the below are important points to remember:
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You do not have to submit a Tax return.
- There are certain criteria that, when met, you do not have to submit a tax return. One of these is:
- Do you earn under R 500 000 from a single source of income?
- There are certain criteria that, when met, you do not have to submit a tax return. One of these is:
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No one can guarantee a refund.
- Everyone would love a refund annually from SARS. This is possible based on certain criteria. (read more here.)
- No one can guarantee a refund for you without first doing the calculations.
Is your tax in good hands?
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The responsibility rests with you.
- No matter who submits your return, it is your responsibility to ensure the return is submitted correctly and on time (see point 4).
- SARS will always come to you for answers.
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Not all ‘tax people’ are qualified
- There are so many people who can submit a tax return for you.
- Not all of these are allowed to do so.
- Make sure that the person doing this for you is actually qualified, especially if you are paying them to do so.
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Your information is YOURS
- You may think this a rather silly statement.
- People have been told that they cannot have their tax information! (red flag)
- Any any stage, you can request to see and double check anything to do with your tax return.
- This is your information and you have the right to it at any time.
Whether or not you are required to, do not want to or not required to submit a tax return, the above 5 points are important to remember. Keep it in the back of your mind to inform or enlighten someone who is asking