PREPARE AND FILE TAX RETURNS
We will prepare and file your tax return as an individual based on your unique set of circumstances. Each engagement is different. We work to identify any foreign jurisdiction reporting requirements you may face and coordinate with that jurisdiction’s tax professionals, as needed, to assure that all requirements are met and you stay out of trouble. More specifically, we apply double taxation agreements (treaties) to avoid you paying tax twice and apply possible tax credits.
Returns outstanding? No need to fret…days, months or years behind? We are here to help. We’ve gone back as far as 23 years to bring tax payers up to date. And it goes without saying that we can handle it all: interest calculations, penalty waivers and payment arrangements.
Expats are required to comply via:
- Being registered for income tax in South Africa
- Submitting the relevant tax returns, as stipulated in the Tax Administration Act 28/2011
- Informing SARS of any changes in personal info
Administrative penalties for non-submission of tax returns or late submission of tax returns as well as interest will be charged. Penalties, as well as possible imprisonment, could be imposed to non-compliant . The penalty amount that will be charged by SARS depends on your taxable income and can range from R250 up to R16 000 a month for each month that the non-compliance continues.
TAKE NOTE OF THE FOLLOWING DATES:
Tax season runs annually from 1 July to 31 October, extending to 31 January the following year for provisional tax payers only
For provisional tax payers:
- The first provisional tax return is due on/before 31 August each year;
- The second is due on/before 28/29 February; and
- A third, optional return may be made as a ‘top-up’ option thereafter.
If you work for a South African registered employer, your file will be audited as this has been the trend for the past 3 years. Ensure that your IRP5 certificate/s that you receive from your employer reflects the income earned in SA and the income earned abroad under specific codes.
Subsistance allowance: If you are getting paid a subsistence allowance that is above the allowable non taxable subsistence allowance as prescribed in the Income Tax act, it will be fully taxable. Please note that you will be able to claim a deduction against this taxable subsistence allowance and therefore please keep your proof of payment and source documents for any expenditure relating to the subsistence allowance.
Please take note that you need to keep records relevant to all assessments for a period of five years.