Sars has made a number of changes to the format of the tax returns this year.
Taxpayers have to enter more details about their medical aids and retirement funds.
There has been a number of technical issues relating to these updates.
The Money Show’s Bruce Whitfield interviewed TaxTim cofounder Marc Sevitz.
TaxTim provided a step-by-step guide on how to deal with these glitches.
Travel allowance codes left off IRP5s
Do you receive a travel allowance, or use an employer-provided vehicle?
Sars has left the relevant code off IRP5s in error.
If you’ve already submitted your tax return, you’ll have to do so again.
Medical data may be incorrectly pre-populated
Notice a difference between you Medical Tax Certificate and the medical data already on your tax return?
Click on the “Refresh Medical Data” (located next to the “Refresh IRP5 data”) button.
This pulls the latest information from your tax certificate into your tax return.
Changes relating to the Retirement Annuity section
Ensure you enter the number of retirement funds you have contributed to in the correct field.
Confirm that you captured the total contributions for the year correctly.
If you contributed to a single fund; the total would equal the amount you contributed to for that specific policy.
If you contributed to multiple funds; add up the contributions to each fund and enter the total amount in the correct field as indicated below.
For more detail; listen to the interview in the audio below.
Click here (then “like” the page) to follow Bruce on Facebook.
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.
However, we will NOT condone the following:
- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.
We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.
We strive to make the CapeTalk community a safe and welcoming space for all.
CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.
Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.
CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.
Read More
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.
The Money Show’s Bruce Whitfield interviews Dracore Data Services CEO Chantelle Fraser.
The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.
The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.
Bruce Whitfield interviews Peter Hain (Wits Business School) and Steven Powell (Director in Forensics at ENS Africa).
The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.
Popular articles
The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.
Nkosinathi Nkomo came up with a system that could turn grey water into usable water amidst the Cape Town water crisis.
The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.
A policing expert explains that the airport shooting may be linked to the shooting at a Stellenbosch nightclub this past weekend.
Independent Marketing Consultant in the Technology Space, Andrew Fraser says this looks like a leak and not a hack.
The incident happened in the early hours of Wednesday morning.
