By Melodie Veldhuizen
The South African Revenue Service (SARS) has announced the dates for the submission of tax
The following are the most important dates that tax payers should take note of:
- 1 July 2021 to 23 November 2021 – Tax returns submitted online.
- 1 July 2021 to 28 January 2022 – If you pay provisional tax or are managing a trust, you can
submit your returns during this period by means of SARS eFiling or SARS MobiApp.
If you cannot do it yourself online, make an appointment with your nearest SARS office, where you will be assisted, or see a consultant.
A significant number of individual tax payers will, as in 2020, be assessed automatically.
The process will start at approximatele the same time as indicated above. People who accept the outcome of the assessment, need not submit a return.
The automatic assessment will be based on the information SARS receives from employers, financial institutions, medical funds, the administrators of retirement annuities and other providers of third-party data. It is advisable to rather submit a return if your financial position is more complicated.
If you have not yet received your IRP5, IT3(a)s and other tax certificates such as medical and retirement annuity fund certificates or any other applicable third-party data to determine your tax obligations for 2021, contact therelevant establishments without delay to make sure that you comply with the submission requirements.
If you accept the outcome of the automatic assessment or when you are owed a refund after having submitted a return, SARS will pay the amount into your bank account. If you owe SARS money, you can make a payment on SARS’s eFiling, the SARS Mobiapp, or by EFT, but before or on the date indicated on your assessment notice.
What to do beforehand
This SARS prior notice gives you an opportunity to get your documents ready to make sure of a smooth submission of your tax return. Be prepared by doing the following in the meantime:
- Make sure that you get your IRP5, IT3(a)s and other important documents ready in time.
- Change your SARS eFiling and MobiApp user name and watchword if you have forgotten
- Update your personal information such as bank details, address and contact details.
How to increase medical-fund benefits on your SARS tax return and how much you may claim
Medical expenses not overed by your medical fund are becoming an ever bigger burden for South Africans.
Kerry Vermeulen, senior consulting manager at Aleander Forbes Health, says it is possible to claim back some of these medical expenses from SARS, which could give the tax payer some relief. According to Vermeulen medical-fund contributions were ormerly deducted from your income. However, the medical tax credit system now makes provision for a monthly credit against the tax you owe SARS. If you as taxpayer and your dependants are members of a medical fund you will be credited with R319 for the first two members and with R215 for every other member or dependant of the same medical fund. This credit will be automatically subtracted from the tax you have to pay. To complete the medical section of your annual tax return, you need the medical-fund tax return, which shows the exact amount you have paid the medical fund in respect of yourself and your dependants during the tax year from 1 March 2020 to 28 February 2021.
This will also show what other medical expenses you incurred yourself, such as medication and doctor’s visits you paid for yourself. If you submit all your medical expenses to your medical fund, these expenses will be shown on the tax certificate as claims not paid, not received back from the medical fund and expenses for which you have not been compensated, including an part of a claim not paid by the medical fund.
It is therefore essential that you submit proof of every amount that you paid yourself to your medical fund, even when you have reached your annual limit. SARS, however, still places certain limits on which expenses qualify as medical expenses for which you yourself are responsible. It is important that you discuss this with your tax consultant. This information could help you tog et a refund from SARS at the end of the tax year.