Personal Tax Season 2023
The 2023 personal income tax season is upon us and officially opens on 07 July 2023.
The deadline for all personal income tax return submissions for non-provisional taxpayers is 23 October 2023, however the earlier you get your return submitted the sooner you can get any possible refunds paid out. Provisional taxpayers have until 24 January 2024 to file their income tax returns for the same period.
If you only have third party information on your return, you may receive an auto assessment from SARS. Check your auto assessment and ensure all is correct before accepting the auto assessment. If you pick up any errors or omissions, you will need to file your tax return as normal and not via the auto assessment process.
In order to ensure that you correctly disclose and claim all amounts, we have put together this checklist for you.
Ensure that you have all the official certificates for all items listed 1 – 7 in the below checklist and that the balance of the items are supported by the necessary schedules.
| 1. | IRP5/IT3a (for all salary earners) |
|---|---|
| 2. | IT3(b) Interest income tax certificate |
| 3. | IT3(c) Capital Gains tax certificate |
| 4. | IT3(s) Tax free investments |
| 5. | Retirement Annuity certificates |
| 6. | Medical Aid tax certificates |
| 7. | S18(A) Donations tax certificate |
| 8. | Additional medical expense not claimed from fund (Invoice and proof of payment) |
| 9. | Documents and details of disability claims (where applicable) |
| 10. | Travel logbook |
| 11. | Home office expense claims |
| 12. | Statement of assets and liabilities (all personal assets and liabilities as at 28 Feb 2023) |
If you have had a change in any personal details or a change in bank details from your last tax return submission, please ensure that this is updated on your tax return.
If you need any assistance this tax season, please pop us an email on info@la-fin.co.za. We would love to work with you in staying compliant.
Yours in simplifying finance,
