SARS E-Filing 2016

[FlashSA]

Ready, steady, nearly time to get your file on.........

TOP TIP:

Where is this "statement of account" to be found?

On your income tax works page, there is an option to request documentation/notice or something along those lines.
Click that and then select statement of account, and it will generate it for you.

Top tip!

On the work page, select "Request historic notice"

View attachment 373391

On the next screen select:

View attachment 373393

Hit next and it pops up.

Thereafter it will appear on your work page as:

View attachment 373395

 

[supersunbird]

♪ Baby, I'm ready to go ♪

 

[FlashSA]

2014/2015 Monthly Tax Rebate
* R514 for taxpayer and 1st dependant
* R172 for additional dependant

That was last year's medical aid tax credits... looking for 2015/2016 ones......

Anyone?

2015/2016 -->

 

[supersunbird]

I have no idea how these tax credit story works. Guess my employer just take care of that and withholds the right amount in tax then...

 

[FlashSA]

I have no idea how these tax credit story works. Guess my employer just take care of that and withholds the right amount in tax then...

I pay full tax and claim it back via my annual return. Holding thumbs for R13k this year.....

 

[AchmatK]

I pay full tax and claim it back via my annual return. Holding thumbs for R13k this year.....

If your medical aid is paid privately and not via your employers payroll, then you would get the refund. The payroll software eliminates over payment of tax and takes into account all rebates.

Another trick if you are contributing to an RA is to inform payroll of your private RA contributions. They can include it in their tax calculations and no need to wait to file your tax return to get the refund. Many however don't want to do this mainly due to extra admin or lack of knowledge of their payroll software.

 

[FlashSA]

If your medical aid is paid privately and not via your employers payroll, then you would get the refund. The payroll software eliminates over payment of tax and takes into account all rebates.

Another trick if you are contributing to an RA is to inform payroll of your private RA contributions. They can include it in their tax calculations and no need to wait to file your tax return to get the refund. Many however don't want to do this mainly due to extra admin or lack of knowledge of their payroll software.

MA and RA paid by myself. While I could get payroll to take these payments into account on a monthly basis and reduce monthly tax, I prefer the mini bonus in the middle of the year via SARS refund. Also, my out of pocket medical expenses in the last financial year were almost R15k (baby birth, injections etc etc) so that will boost the refund as well

 

[FlashSA]

I find this year's build up to tax season very different to previous years.

Granted, I no longer watch DSTV, but I have not seen any tax season reminder adverts or heard anything on radio.

Has the last known well run government organisation started to crumble as well?

 

[saturnz]

I find this year's build up to tax season very different to previous years.

Granted, I no longer watch DSTV, but I have not seen any tax season reminder adverts or heard anything on radio.

Has the last known well run government organisation started to crumble as well?

it started crumbling after Pravin left, the cracks are just starting to show now

 

[modern10]

I find this year's build up to tax season very different to previous years.

Granted, I no longer watch DSTV, but I have not seen any tax season reminder adverts or heard anything on radio.

Has the last known well run government organisation started to crumble as well?

But why do you need to be reminded. It's the 1st of July every year, and as a taxpayer you should know this.

 

[FlashSA]

But why do you need to be reminded. It's the 1st of July every year, and as a taxpayer you should know this.

Without a doubt, the post with the least amount of thought behind it for the day. You clearly do not deal with people in your day job. People are stupid! You could tattoo SARS 1 July on their arm and they would still not remember.

The point of my post was this: For years they have advertised aggressively to get people ready to submit. This year, nothing. They need as much income as they can get because of inflated civil servant salaries. Yet, the complete lack of advertising gives an indication that all is not well behind the scenes at SARS.

 

[supersunbird]

Without a doubt, the post with the least amount of thought behind it for the day. You clearly do not deal with people in your day job. People are stupid! You could tattoo SARS 1 July on their arm and they would still not remember.

Stupid tax, literally! :crylaugh:

 

[TofuMofu]

I have no idea how these tax credit story works. Guess my employer just take care of that and withholds the right amount in tax then...

Basically, if you pay your medical aid yourself, you can claim back. If it goes off of your salary and it's on your payslip, then you probably cannot as you didn't pay the tax yourself.

 

[FlashSA]

Advertising has started on AlgoaFM as of this morning's drive to work......

 

[markbdaniels]

MA and RA paid by myself. While I could get payroll to take these payments into account on a monthly basis and reduce monthly tax, I prefer the mini bonus in the middle of the year via SARS refund. Also, my out of pocket medical expenses in the last financial year were almost R15k (baby birth, injections etc etc) so that will boost the refund as well

Do you know what the story is with out of pocket expenses and sars? What do you get back. We have a baby arriving in September and our medical savings are finished already...

 

[FlashSA]

Do you know what the story is with out of pocket expenses and sars? What do you get back. We have a baby arriving in September and our medical savings are finished already...

Always wondered myself, as to how that is worked out. I just know that when I have a bad year and spend thousands extra on out of pocket medical expenses, my tax refund is higher.

Tax fundi would need to enlighten us

 

[Cius]

Also curious about the medical side. I used to religiously save all my slips but with the medical sub limits I found that my medical aid contribution from my payslip pretty much hit that limit already. So if I claimed an additional R100 or R100 000 it did not matter as I had already hit the deduction limit for medical so it was all ignored.

I have a daughter with serious medical issues so we spend a ton of money out of pocket (R65K since September till now as an example) so I am thinking I need to check this again and see if I cannot get some assistance from mr tax man on paying for all those medical bills. Any advice from you tax guru's?

 

[Hendrix]

I won't be able to file on 1 July due to 2 tax certificates I need from AM's (PSG & Satrix UT), they will only be ready mid July...

 

[AchmatK]

I won't be able to file on 1 July due to 2 tax certificates I need from AM's (PSG & Satrix UT), they will only be ready mid July...

Not sure why they will only be available in July as they would have needed to submit it to SARS by end of May.

Tax certificates such as IRP5, IT3a, IT3b, IT3c, etc must be submitted to SARS by the employer, bank, rental agency, medical provider, etc to SARS by end of May every year.

 

[AchmatK]

Also curious about the medical side. I used to religiously save all my slips but with the medical sub limits I found that my medical aid contribution from my payslip pretty much hit that limit already. So if I claimed an additional R100 or R100 000 it did not matter as I had already hit the deduction limit for medical so it was all ignored.

I have a daughter with serious medical issues so we spend a ton of money out of pocket (R65K since September till now as an example) so I am thinking I need to check this again and see if I cannot get some assistance from mr tax man on paying for all those medical bills. Any advice from you tax guru's?

The medical aid and medical deduction allowances has changed in 2014 with S18 being repealed and replaced with S6B.

Extensive guide from SARS: http://www.sars.gov.za/AllDocs/OpsD... credits and allowances - External Guide.pdf

It includes a formula to use to determine what the tax credit will be for out of pocket medical expenses.