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2013 Tax Tips

28 August 2013   (0 Comments)
Posted by: Author: SAICA
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Author: SAICA (MoneywebTax)

The new tax season has begun. It is time to get your tax inputs in order.

If you are an individual, or if you run an SME, there are two basic ways to get your tax done. The first is to log on to the Sars e-filing website and submit your tax returns yourself. The second is to find a registered tax consultant or tax service to help you submit your returns.

Sars e-filing is a free, online process for the submission of tax returns and other related services in a secure online environment. Once you are registered for e-filing you can visit Sars online for the submission of returns, declarations and payments in respect of taxes, duties, levies and contributions. e-Filing also allows you to submit a variety of tax returns including VAT, PAYE, SDL, UIF, Income Tax, STC and Provisional Tax through the e-filing website.

"While e-filing makes it very easy to submit your tax returns on your own", explains Somaya Khaki, Saica's Project Director at Tax Suite, "it is always a good idea to use a professional tax consultant to submit your returns for you if you are uncertain about anything. Making sure that you are compliant will reduce the likelihood of being audited by Sars and may increase your chances of receiving a refund if deductions are available that you were unaware of ".

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WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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