Your Tax practitioner will require some or all of the following information when completing your income tax return!
NB!! Your Income Tax Return information is for the tax year 1 March 2013 to 28 February 2014.
- Salary, pension and annuities – IRP 5 certificates or IT 3(a) certificates
- Interest received or accrued (local and/or foreign) – IT3(b) certificates
- Travel Logbook – Please note that from 2010 you may not claim your mileage if you did not keep a logbook.
- Other South African income – Rental income, business/freelance income (if IRP5 or IT3 (a) not issued by employer) etc. If married in community of property, the rental- and investment income of your spouse must also be provided, as well as the foreign taxes (if any) paid by your spouse. If the source of this income was as a result of an inheritance specifically excluded from the joint estate, you do not have to provide this information in respect of your spouse.
- Dividends – Details of local dividends (even though it is tax-free) and foreign dividends received or accrued.
- Lump sums – Certificates reflecting lump sums received as a result of retirement from a pension fund and/or retirement annuity fund.
- Capital Gains Tax (“CGT”) – CGT became effective from 1 October 2001 and you are requested to provide the market value as at 1 October 2001, as well as selling price and date of sale of any item that qualifies for CGT, e.g. property which is not your primary residence, shares, bonds, Kruger Rands etc.
- Expenses incurred in the production of income – Proof of all expenses incurred in the production of commission-, rental-, business-, and/or freelance income.
- Medical expenses -This is the last year that taxpayers can claim any qualifying medical expenses as a deduction from taxable income. Only taxpayers over the age of 65 will be able to deduct contributions paid to a medical scheme, as well as qualifying medical expenses. “For those under 65, there is a complex formula that determines what portion of the expenses may be deducted. Proof of medical subscriptions (if any) and expenses not recovered from a medical aid. (Note that non-prescribed medicine does not qualify). Proof of all expenses incurred as a result of permanent physical or mental disability, which could not be claimed from a medical aid.
- Home office – No expenses in respect of an office at home may be claimed, unless a business is run from home.
- Contributions to Retirement Annuity Funds (“RAFs”) – Certificates reflecting contributions to RAFs.
- Donation – Certificates/receipts reflecting donations (if any), these certificates must be issued in terms of section 18A of the Income Tax Act No. 58 of 1962.
- Retired individuals – If you retired during the tax year, please provide Forms A and D which can be obtained from your employer/pension fund.
- Bank details – Details of your bank account, i.e. name of institution, branch code, account number and type of account