TruPay provides some information and tips for filing your tax return this year:
What is an IRP5?
By law your company is required to provide you with an IRP5 if your total gross income for the year is more than R350 000. An IRP5 details all income, deductions and related taxes for an individual and is used to complete an income tax return for the specific year.
Remember that it is your responsibility to ensure that all information on your income tax return is correct. Before submitting your return, double check that all information, even the information that SARS has entered on your behalf, is correct.
How to submit your tax return?
You can submit your tax return by registering for eFiling (if you haven’t already) and then submit your return electronically. Alternatively you can submit a manual return via post or at a SARS branch.
To register for eFiling you will need your tax reference number and will need to allow 48 hours from time of registering for your registration application for be verified and approved.
If you require help when completing your tax return via eFiling you can request for a SARS agent to call you to help you file your return.
What is a provisional and non-provisional tax payer?
A provisional tax payer is an individual who receives income that is not a salary.
A non-provisional tax payer is a salary earner.
What are the deadlines for an individual’s tax return?
Manual submissions for non-provisional and provisional tax payers is 21st September 2018
eFiling submissions for non-provisional tax payers is 31st October 2018
eFiling submissions for provisional tax payers is 31st January 2019
For more information on the 2018 tax season for individuals visit the SARS website.
