Nashwells - Your Trusted Business Partner

The 2023 Tax Season is almost here, here is all what you need to know.

Filing Dates

1 July to 24 October 2023 for taxpayers who uses eFiling. This is where we come in!

1 July to 23 January 2024 for Provisional taxpayers including Trusts.

Who needs to file a Tax Return?

According to SARS, not everyone needs to file a tax return if you meet a series of criteria and you can check for yourself on this SARS web page link whether you need to submit a tax return or not.

We however strongly encourage you to file yearly tax returns so that you don't miss out on a tax refund that may be due to you.

How long does it take to file a tax return?

Well, it depends with each individual's circumstances and if all documents are available then it will not take no more than 30 minutes on average.

What documents are required?

Any document that supports an income that must be declared or deductions to be claimed, these include but not limited to:

IRP5/IT3(a) - you get it from your employer or pension fund.

IT3(b) Tax Certificate - Shows the amount of investment income (Interest or Dividends) received during the tax year. You normally get this from your bank or shares broker.

Contribution certificates to retirement funds

Medical scheme contributions documents

Other Medical Expenses - amounts not recovered from the medical scheme.

Section 18A certificate - Donations to public benefit organisations.

Travel logbook - If you use a company car (Fringe benefit) or receive a travel allowance.

Who can assist you with your tax return? or rather who should assist you with your tax return?

Only a SARS official or a registered Tax Practioner should assist you with your tax return. You definitely want your tax return to be filed by someone who is not only registered with SARS but who knows what they are doing otherwise you might end up in trouble with the tax man.