Submitting your tax return can be strenuous, confusing and downright annoying, but SARS is trying to make it easier via eFiling. Avoid standing in those long queues; all you need is a computer to get it done with a few clicks.
'eFiling as a channel has grown from 40 000 persons submitting in the early years to currently around 2 million thus far this year,' says Mark Kingon, the SARS Group Executive of Business Systems. 'In many instances taxpayers are experiencing a 24-hour turnaround time from the date of the filing until the date of assessment.
'eFiling empowers the taxpayer to take ownership of their returns, enabling quicker turnaround times on submitting of supported documents, disputes and requesting statements of accounts.'
eFiling is extremely easy and uncomplicated, says Gareth Davies, a financial planning specialist at Private Client Holdings. 'SARS has uploaded every IRP5 for you, so if your tax is simple and straightforward, it shouldn't take longer than 15 minutes.' Davies does however recommend a professional tax consultant for individuals with a complicated tax structure.
Follow these steps and filing your tax return online shouldn't be too much of a hassle.
Step 1: Navigate to
SarseFiling.co.za and hit the register button. Have your tax reference number, ID number and bank account details handy.
Step 2: After you've chosen and received your username and password, log in to eFiling.
Step 3: Make your way to the Income Tax Work Page, and click on ITR12 to open your tax return.
Step 4: Once on the ITR12 page, fill in the short questionnaire and click 'Create Form'.
Step 5: You will now see a sheet containing all your information, minus your street address. After you've filled in your address and checked that your personal details are correct, check that your IRP5 employee information is correct (the information is supplied by your employer to SARS).
Step 6: Save your return by clicking 'Save Online' and go back to the Income Tax Work Page. Click on 'Tax Calculator' and confirm your tax return's accuracy.
Step 7: Click 'File' and you're done!
While these seven steps should get you through filing your return without any hitches, if you do have problems, contact the SARS Contact Centre on 0800 00 SARS (7277) between 8am and 5pm on weekdays.
TIP: Make sure you don't find yourself lumbered with any nasty surprises by being aware of this loophole: If you have two or more income streams, warns Davies, they add up, which pushes you into a higher tax bracket. 'Income is income, whether you have one job or 20.' Be aware that you may not be paying the sufficient amount of tax.
The deadline for submissions of electronic returns is 20 November, so make a note. You don't want the taxman at your door.