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Already submitted your tax return? Sorry, you may have to do it again…

20 July 2017 7:02 PM
Tags:
SARS
Tax
Tax season
2017 tax season
taxtim

Sars is experiencing technical issues. Have a medical aid, retirement fund or travel allowance? You may want to check this out…

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.


This article first appeared on 702 : Already submitted your tax return? Sorry, you may have to do it again…


20 July 2017 7:02 PM
Tags:
SARS
Tax
Tax season
2017 tax season
taxtim

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