Completing and filing your tax return form can be a huge task. In some cases it might mean endless amounts of paperwork and searching for and tracking down lost slips and documents. At other times it may mean giving up your personal relaxation time to meet with tax consultants in order to catch up with previous filings. Either way, the task can become overwhelming.
Most of this changed a few years ago when SARS (along with most of the world’s tax collection divisions) introduced the ability to file tax returns electronically. This new system allows users to more effectively manage their returns with much less hassle and paperwork.
In order to register for E-Filing with SARS, one needs to visit their official website with your valid tax number, ID Number, Banking Details and any other personal information required (check The SARS website FAQ section for more details if you aren’t certain.)
Once you have registered it is as easy as following the online steps with all of the necessary information and filling in the correct forms (which are all provided by SARS). Make sure to have all of your necessary documents with you, such as your IRP5 which you will need to fill in some of the online forms. The e-Filing system also provides an automatic tax calculator that gives you an estimate based on your information (earnings, penalties, return claims, etc).
To make some of your return claims easier to manage if you are one of the individuals or companies that keeps mandatory logbooks, check out The Little Logbook’s new GPS Logging system. Visit the website or contact (011) 050-0999. You can also send an e-mail to sales@littlelogbook.co.za
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