SARS E-Filing 2016

[Slamz]

Heres a wierd one... i worked for a company which closed in august this year, i left them in April 2106, i dont see my returns on my efiling? any experience this before?

 

[jman]

So I needed to submit some documentation to SARS for my return. Took about 2 weeks, and I'd heard nothing. So I phoned yesterday and the guy told me it could take up to 30 working days to asses those documents :erm: I want my return!

 

[TEXTILE GUY]

Eish

Submitted docs as required .... and nothing, no how do you do, nothing .....

The wait for me has started.

A month later .... and I got paid.

Just thank the stars above they didnt give me the run around.

Tax consultant for me next year .......

 

[marioat1]

Heres a wierd one... i worked for a company which closed in august this year, i left them in April 2106, i dont see my returns on my efiling? any experience this before?

You're a bit early. April falls under next years return

 

[marioat1]

You're a bit early. April falls under next years return

The previous irp5 entry you could possibly generate manually else need to contact sars office with your payslips

 

[msquared]

Heres a wierd one... i worked for a company which closed in august this year, i left them in April 2106, i dont see my returns on my efiling? any experience this before?

What happens if my employer doesn't send SARS my IRP5/IT3(a) on time?

SARS can't provide you with a populated return nor process your return until your IRP5 tax certificate information from your employer is received.

However, SARS won't penalise the taxpayer for the non-compliance by an employer. You can also receive a blank return from SARS, complete it and submit it to SARS.

Note that this return will be classified as a third party mismatch and will only be assessed when the employer reconciles.

 

[Slamz]

What happens if my employer doesn't send SARS my IRP5/IT3(a) on time?

SARS can't provide you with a populated return nor process your return until your IRP5 tax certificate information from your employer is received.

However, SARS won't penalise the taxpayer for the non-compliance by an employer. You can also receive a blank return from SARS, complete it and submit it to SARS.

Note that this return will be classified as a third party mismatch and will only be assessed when the employer reconciles.

Thanks mate.. thats a relief

 

[moklet]

Did my Tax return just now, I am self employed so I am used to wait a while for them to give me my assessment notice (normally I always have to submit documents etc), Wow was I surprised this time a few seconds after I filed a assessment notice was generated.

 

[j4ck455]

Under deductions, source code 4006, there is a eFiling popup/message that says:

Please ensure that the amount entered is the total amount in respect of all retirement annuity policies that you yourself will derive a benefit from, including the amount represented on your employees’ tax certificate.

Does that mean that I need to add the amount on my IRP5 under source code 3697 (Gross Retirement Funding Income) to the amount on the RA certificate, and put the combined total into 4006?

It doesn't make sense to me to do that since they are different source codes.

edit: OK submitted without adding the two figures together.

 

[StrontiumDog]

Latest to submit is on the 25th so at 23:59 25/11/2016.

You allowed to claim any expenses related in the generation of the rental income. I have no idea where you heard the 10% admin claim. You can only claim for actual expenses.

Basically any expenses you would not have had if you did not own the rental property and renting it out. You must also be able to provide proof of the expenses should SARS request them.

If you have to travel to house every months to inspect the property you can claim this, telephone calls to the tenant, maintenance contractors and any reasonable costs you incur directly related the rental property and renting it out.

Thanks signates for all the help, I got my return submitted tonight without too much stress. Claimed for all costs incurred and found another 3 grand in various expenses I forgot about, all the little things add up! About the only thing I didn't claim for was the many trips I made to the rental property end of last year. I assume one would claim based on mileage at AA rates?

 

[AchmatK]

Thanks signates for all the help, I got my return submitted tonight without too much stress. Claimed for all costs incurred and found another 3 grand in various expenses I forgot about, all the little things add up! About the only thing I didn't claim for was the many trips I made to the rental property end of last year. I assume one would claim based on mileage at AA rates?

Glad you got sorted.

SARS has the rates on their website that they adjust every year. It's R3.29/km for business travel if less than 8 000km/yr.

 

[akescpt]

What's the exemption I investment income? Is it divided by two if you married in community of property

Was expecting a capital gains to pull through but couldn't see it so was wondering if it came in under the exemption

 

[akescpt]

How do I pay them? Do they just take it?

 

[genetic]

I just paid SARS R700 odd.

Thought it would be more though...

How do I pay them? Do they just take it?

When you submit your tax return and you owe them money, they will give you an option to pay manually, or you can enter your account details and authorise them to debit you automatically.

 

[Hamish McPanji]

Completed 3 days early . Need to pay like 1k .

 

[vash87]

What's the exemption I investment income? Is it divided by two if you married in community of property

Was expecting a capital gains to pull through but couldn't see it so was wondering if it came in under the exemption

Details of capital gains must be captured manually. You can earn up to R30k capital gains per year exempt from tax. For capital gains with regards to a primary residence it's R2mil

 

[vash87]

Did my Tax return just now, I am self employed so I am used to wait a while for them to give me my assessment notice (normally I always have to submit documents etc), Wow was I surprised this time a few seconds after I filed a assessment notice was generated.

You should always get an assessment letter shortly after filing. On that IT34 you'll be able to see if the return is selected for verification or not. It's possible that you just weren't selected this year..

 

[vash87]

Under deductions, source code 4006, there is a eFiling popup/message that says:



Does that mean that I need to add the amount on my IRP5 under source code 3697 (Gross Retirement Funding Income) to the amount on the RA certificate, and put the combined total into 4006?

It doesn't make sense to me to do that since they are different source codes.

edit: OK submitted without adding the two figures together.

Sometimes on your IRP5 under deductions you'll see an amount listed under source code 4006. The usual case for this is when you have an RA set up through your employer. The amount filled in under 4006 later in the returns must include the amount from the IRP5 as well any contributions you've made to an RA that doesn't reflect on the IRP5

 

[vash87]

You're a bit early. April falls under next years return

I've dealt with a couple cases were companies went bankrupt and didn't submit IRP5's for their employees. In these scenarios SARS can try claim PAYE from you, however if you can prove using bank statements and payslips that you got paid amounts declared by your employer to be after tax, then SARS can't tax you again.. even if it turns out that your previous employer didn't pay that tax.

 

[j4ck455]

Sometimes on your IRP5 under deductions you'll see an amount listed under source code 4006. The usual case for this is when you have an RA set up through your employer. The amount filled in under 4006 later in the returns must include the amount from the IRP5 as well any contributions you've made to an RA that doesn't reflect on the IRP5

I suspected as much, however I've never had an arrangement with my employers to pay my RA directly and the wording of the second part of eFiling popup message is a bit misleading.

Automatically.

You declare your RA contributions (SARS code 4006) as per your tax certificate from your RA provider when doing your return.

Then when you get your Notice of Assessment (ITA34), you scroll down to Deductions allowed, it will show your declared amount under Current retirement annuity fund and then the deduction allowed for this year (generally 15% of calculated non-retirement funding income), under Amount b/f from previous year it will show you what was carried over from the previous year (its shows that amount on previous years ITA34), under Amount c/f to next year it will show you amount carried over to 2017s tax filing, which I was not able to deduct this year.

In my case the amount carried forward is R15406. So that will be added to my currently increased RA contributions next year, and my provident fund contributions, which will be allowed from next year, but which my employer will tax correctly so no big difference there I suspect. With the current RA and the brought forward RA deductions and the provident fund I will hit that new 27.5% deduction limit of my total income and get a nice big deduction due to the RA, which will greatly cover the Capital Gain Tax I will be liable for since I sold a property after 1 March. If I didn't have the CGT I would get a big refund.

I need to get my act together and start pumping more money into my RA, the only thing that has stopped me from doing it is that my RA has consistently under performed and I've had it for a long time, but the tax benefits of paying extra money into the RA might be worth it.

Is there a good source of info for provident funds somewhere (preferably for dummies)?