Tax year 2020.
Although this mini-series is about general tax advice we decided to do it this month because we believe we can also offer a little well-timed investment advice. Something we picked up on is that before this month-end if you have some additional savings or potential investment capital available, it would be a very good time for you to speak to your Financial Advisor on how best to save on Tax and invest your funds.
In essence, you need you to need to submit an income tax return known as an ITR12 every tax year. The exact dates sometimes change a little year to year, but you can be guided by going to the SARS ‘important dates’ page https://www.sars.gov.za/Pages/Important-Dates.aspx. In essence, the usual times that an individual's returns will be due are:·
* Early Sept for submissions to SARS offices for Provisional and Non-provisional tax payers·
* The end of October viae Filing for non-provisional taxpayers
* The end of January 2021 - via eFiling for Provisional taxpayers.
It is not always known that Virtual Assistants, often seen to be just a service that deals with admin, are very capable of taking your financial hassles out of your hands too. Our range of services at V-Assist, through our myriad of associated services, is extremely wide, encompassing accounting, bookkeeping and tax services too.
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