For many of our clients, tax filing season is associated with feelings of apprehension and confusion. Most of us only do this once a year, and it can be quite bewildering and daunting to figure out exactly what we need to have on hand to submit our tax returns correctly.
With SARS announcing that tax filing season for individuals will run from 1st July until 23rd November this year, it is time to start preparing the information and documents needed to submit our tax returns.
Remember that taxable income can come from many sources, and it is important to declare all income on your tax return. We have listed some items below that you need to consider when preparing your documents.
Please remember that although most of this information should automatically pull through to your e-filing profile, you will need to have the hard copies available to submit to SARS if you are selected for a SARS verification.
As everyone’s tax return is unique and tax legislation is complex, this article is for information purposes only and is not to be construed as tax advice, nor does it take into account your specific financial circumstances. We encourage you to speak to a tax specialist from Chartered Tax for more guidance as we believe professional specialists can add great value in helping you to keep your tax affairs up to date and in order.
Chartered Wealth Solutions is an authorised financial services provider
(FSP no. 13909)