tax return 2011

How long did it take from being assessed, to knowing if you are getting the money or being audited :P
 
Can anyone tell me where to list dividends and/or capital gains on the ITR12 return?
I have a section for Local Income which has Local Interest (code 4201) only.
Looks like this is used for interest on bank accounts, etc...
Not sure if dividends/CGT should be included in this or listed elsewhere.
 
Dobes said:
Can anyone tell me where to list dividends and/or capital gains on the ITR12 return?
I have a section for Local Income which has Local Interest (code 4201) only.
Looks like this is used for interest on bank accounts, etc...
Not sure if dividends/CGT should be included in this or listed elsewhere.
Click to expand...


you need to say "yes" to the "capital gains" section on the "wizard". it will then create the section on the return for you.
 
Celine said:
you need to say "yes" to the "capital gains" section on the "wizard". it will then create the section on the return for you.
Click to expand...

Thanks, managed to find it. Had to select "other income" on the wizard.

Tax return has been filed. Looks like I'm going to have to pay in :(.
 
Dobes said:
Thanks, managed to find it. Had to select "other income" on the wizard.

Tax return has been filed. Looks like I'm going to have to pay in :(.
Click to expand...

did you complete the capital gains section correctly. you must fill in the proceeds and base cost section from the information you were given.
 
Celine said:
did you complete the capital gains section correctly. you must fill in the proceeds and base cost section from the information you were given.
Click to expand...

Yes I filled both in. The gains were from free share options that were sold, so the base cost was actually 0.
The pay in is mostly due to interest though and not capital gains.
 
Dobes said:
Yes I filled both in. The gains were from free share options that were sold, so the base cost was actually 0.
The pay in is mostly due to interest though and not capital gains.
Click to expand...


are you sure you have this correct? interest is interest and not capital gains. you have a piece of paper informing you that you received interest on capital gains?
 
Celine said:
are you sure you have this correct? interest is interest and not capital gains. you have a piece of paper informing you that you received interest on capital gains?
Click to expand...

Sorry, I was probably a bit unclear.
My interest and capital gains are totally unrelated. I filled in the relevant sections for both.
I just meant that the reason I have to pay in is mostly due to tax on interest (from positive bank account balances, etc..), and not tax on the capital gains amount (which is not much).
 
Okay.

Filed my tax return (IRP5 and medical aid).
Amount says R -12 242.89.

Now they asked me for my supporting docs. So I uploaded my IRP5 and Medical Tax certificate.
I didn't bother claiming for km's travelled - didn't keep a logbook (:()
Under the Statement of Account issued, it says selected for Audit.

Firt time ever. Last year they paid me R8000 or something.
:(

I hope its a threshold or something, that rompts the 'selected for audit'.

:(

Does it mean I'm in k@k for something?
I filed the return with absolute honesty and integrity.
 
iDenTiTy said:
Does it mean I'm in k@k for something?
I filed the return with absolute honesty and integrity.
Click to expand...
Then you shouldn't have anything to worry about :)

I would guess there is a threshold or system for flagging for audit
 
D3x! said:
Then you shouldn't have anything to worry about :)

I would guess there is a threshold or system for flagging for audit
Click to expand...

The only thing I'm worries about is if they ask for receipts for things I bought etc. (should they come to Audit me), because I don't think I will be able to reproduce all of them.
:(
 
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