IRP5 hidden dangers lurk

[Lord Anubis]

http://www.24.com/news/?p=tsa&i=949471


so if we don't have to fill in tax forms anymore how do we verify km's for car allowances

 

[Moederloos]

You can request a tax form to fill out.

 

[Lord Anubis]

You can request a tax form to fill out.

but if you don't will they accept your tax being less because of your car allowance or will you pay in. Now I'm panicking a bit

 

[Moederloos]

but if you don't will they accept your tax being less because of your car allowance or will you pay in. Now I'm panicking a bit

Thumbsuck:

They will "prepopulate" IRP details.
They will leave blank things like allowances.
They will leave blank things like investment income.

They will leave an empty block for "total deductions". Above this block, they will put in THEIR estimate - and say something like "if you do not wish to make deductions, this is what your tax is".

And, maybe below that, "If you make no changes, this is what is due to you / due by you: Rxxxx"

 

[dlk001]

I'm just back from SARS, Johannesburg, to submit my 2005, 2006 and 2007 returns. I spent 1hr with the tax assistant capturing data into their system.

The upside is that, before I left, I already had an valuation of what SARS owes me. Only problem is that I have to keep verification documents for next 5 years!