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The 2015 Filing season will start 1 July 2015 and will close on 27 November 2015 (for e-filing clients).

Information required when completing your income tax return!

Income Tax Return information is for the tax year 1 March 2014 to 28 February 2015.

  • 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
 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.
  • Donations 
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

At Phezulu we do more than just assist clients prepare for tax season, we are your “one stop SME shop”, assisting with everything from Accounting, Business Management, BEE, Consulting, Company Registration to Payroll and Mentoring.

For more information please visit our website www.phezulu.net or give me a call 010 003 8558.

Tyronne Nel

TaxTimePheZulu

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