Every year we summarise some of the important tax deadlines that affect you as an individual or employer.
Tax season deadlines for individuals
In each tax season, you are required to submit your income tax return (ITR12). This document assists SARS in calculating the tax payable on your income as well as the tax that can be deducted from your eligible expenses for the year of assessment that runs from 1st March 2014 to 28th February 2015.
The tax season for individuals runs from July to November every year.
The following deadlines are important to keep track of:
30th September 2015
This is the deadline for manual/postal submissions of your ITR12.
27th November 2015
This date marks the deadline for non-provisional eFiling online or at a SARS branch.
29th January 2016
Provisional taxpayers are permitted to submit their ITR12 outside of the July to November tax season and have until the 29th of January to submit via eFiling.
Other useful tax dates:
Employer EMP 201 deadlines
If you are an employer, you should be familiar with the requirement to submit your EMP201 every month. If you are a new employer, the EMP201 is a breakdown of the amount of tax payable by your employees, that is deducted/withheld by you from your employee’s salaries.
Each month you will need to complete the EMP201 form and submit it to SARS, along with a payment of the total amount deducted/withheld (if applicable), within 7 days after the end of the month.
As the 7th of each month doesn’t always fall on a working day, there are certain months that you should take note of in order to submit your EMP201 on time. We have listed the 2015/2016 dates below:
7th August 2015
7th September 2015
7th October 2015
6th November 2015
7th December 2015
7th January 2016
5th February 2016
7th March 2016
7th April 2016
6th May 2016
7th June 2016
7th July 2016
Tax Season made easy.
The pace of life is only moving faster and faster and balancing the personal and business aspects of your life is challenging even when there isnt added pressure to keep your taxes in order. The stress of not completing your tax correctly or on time can bring penalties and possible prosecution and to be honest with yourself, is there time for you to stay up to date with legislature changes to keep you tax compliant?
To reduce this stress, why don’t you have a Professional handle your tax? You never need to forget another deadline and you can be assured of continued tax compliance. Call Dirmeik Consulting today to find out how we can help with your taxes? Phone 021 421 4444.