Yes, 1 July marks the start of the 2018 tax season and you’re wondering where 2017 went.
Don’t worry, we all are. Even here at GetBucks, the easiest way to get an online loan, we’re also preparing to file our tax returns.
Paying tax, no doubt, is vital as we look to build a productive South Africa and staying on the right of SARS is always is a good thing.
Here then are some tax-filing facts to know if you’re unsure about the process, and six easy ways to do it to get in good standing.
No need to fret – it’s easy as pie.
Do you need to file a tax return at all?
Well, how’s this for simplicity. Only if all the following apply to you are you exempt from filing. Yes, even if one does not apply to you, you have to file.
- You received an employment income or salary between March 2017 and February 2018 that was less than R350 000 before tax.
- That salary only came from one employer only.
- You do not have a car or travel allowance – nor any other income such as interest or rental income.
- You do not claim tax related deductions or rebates when it comes to your medical expenses, retirement annuity or other pension contributions made by your employer.
If all four of those applied to you – well, have a great day! If not – let’s do this…
Six ways to file those returns in a jiffy
Tax filing doesn’t need to be complicated and you’ll be surprised at how quick you can get it done. So, consider one of these options to get it done in a way that suits you.
- Hire an accountant and let them do the work! Remember though accountants will charge a fee so ask yourself: Is it a fee worth spending?
- Ask a friend to help, but only if you trust them! Remember, filing your tax returns reveals intimate details about your finances that you might not be willing to share.
- File them online – it’s the easiest way to do it! SARS is globally commended for its extraordinary efiling system. Yes, and even you can do it, so get clicking. Register at sarsefiling.co.za.
- Head back in time – and post it! Yes, posting is still a thing and if you’re a little wiser (meaning older), you’re probably nodding with nostalgia. Posting is still possible and it could still be the most efficient way for you.
- Ask your employer to help – they’re friendlier than you think! Yes, let them work for you for once and ask them kindly to help out. Many employers would be glad to do so.
- Visit your nearest SARS office – face to face is the human way! Remember to take with all of your required documents so as not to waste your time. Know exactly what you need by calling ahead or visiting sars.gov.za.
So, there you have it. Tax Filing made as easy as getting a cash loan online. Sounds familiar? Certainly does.
Until next tax season then, happy filing!