Every year, tax season seems to come quicker and quicker. As we get busy, preparing for the end of the year, planning holidays and business functions to close out the busy year, many of us tend to forget that Income Tax returns need to be filed.
Dates for 2013 have been set between July 1st and the 22nd of November. The cutoff date at the end of November is strictly for returns through the e-filing system, however, and physical returns will need to be filed by the 27th of September.
Because the e-filing system implemented by SARS is so much more accessible, convenient and gives you almost two months extra, it is recommended that you get acquainted with it beforehand. There are a few things to keep in mind, however, whether you’re filing manually or through the SARS E-filing system.
Firstly, even though it is something that we all tend to do from time to time, avoid waiting until the last possible moment to file your return. For one, if you get it out of the way early, you will give yourself extra time to focus on other things that may take more time. Filing early also gives you the peace of mind that you won’t have to deal with any congestion that may arise on the e-filing system from overloading, or face any challenges at the post office if that’s how you’ve chosen to do it.
Secondly, make sure to be as accurate and honest on your return as possible. Avoid inflating your expenses, or not declaring all of your income (since this is illegal, and since the implementation of the e-filing system, there has been a huge increase in the number of random audits done every year, as well as the efficiency and accuracy of these audits).
To make the process easier for yourself, make sure to keep all relevant documents in one place, so you have easy access to them for reference while you’re filling out your return.
Written by Marleen Theunissen
Creative writer at ATKA SA
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