TAX DEADLINES – 31 OCTOBER 2018

BELINDA MCKENNA CFP®
October 3, 2018
SPECIAL TRUSTS
October 24, 2018

Non-Provisional Individuals:

For all non-provisional taxpayers, filing season for the period 1 March 2017 – 28 February 2018, closes on 31 October 2018.

Tips for filing your tax return:

You do not need to submit a return if ALL the criteria below apply to you:

  • Your total employment income / salary for the year (March 2017 to February 2018) before tax (gross income) was not more than R350 000; and
  • You only received employment income / salary for the full year of assessment (March 2017 to February 2018) from one employer; and
  • You have no car allowance / company car / travel allowance or other income (e.g. interest or rental income); and
  • You are not claiming tax related deductions/rebates (e.g. medical expenses, retirement annuity contributions other than pension contributions made by your employer, travel).

Employer Interim Reconciliation Submission

All Employer Interim Reconciliation Submissions must be done before the 31st of October 2018.

What do you need for a successful submission?

The three elements that must reconcile for your submission to be successful are the:

  • Monthly Employer Declarations (EMP201s) submitted [Pay-As-You-Earn (PAYE) and/or Skills Development Levy (SDL), Unemployment Insurance Fund (UIF) amounts due and Employment Tax Incentive (ETI), if applicable]
  • Payments made (excluding penalty and interest payments)
  • IRP5/IT3(a)s generated – PAYE, SDL and UIF values.

For more information and assistance, contact us.

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)