Surviving tax season 2018


The 2018 tax season has started! How can Multiply help you navigate this tax season?

Multiply is offering TaxTim's services free of charge to all Multiply members. All you have to do is visit the TaxTim website, create a user profile and start your journey. TaxTim will complete and file your tax return directly with SARS. 

Don’t forget to ensure that you are registered for eFiling to use their service. If you are not registered for eFiling yet, do it here.

Dates to remember 

The 2018 tax season for individuals opened on1 July 2018 for eFilers, and branches opened from 2 July 2018. 

The deadline for non-provisional taxpayers has been brought forward to allow more time for finalising audits before the year ends. See all the dates here

Here are some of the documents you might need to file your tax return: 

1. IRP5 
2. Medical aid tax certificate 
3. IT3b/IT3c (a summary of all the interest, dividend and capital gains through your investment.) 
4. Retirement annuity certificate
5. PBO (Public Benefit Organisation) certificate
6. Travel logbook (details of all the business trips you made and who you saw, as well as the opening and closing kilometres for the tax year.

If ALL the criteria below apply to you, you may not have to file a tax return: 

1. Your total employment income or salary for the year (March 2017 to February 2018) before tax (gross income) was not more than R350 000,
2. You only received employment income or salary for the full year of assessment (March 2017 to February 2018) from one employer,
3. You have no car allowance, company car, travel allowance or other income (e.g. interest or rental income),
4. You are not claiming tax related deductions/rebates (e.g. medical expenses, retirement annuity contributions other than pension contributions made by your employer, travel).

If you are still unsure if you need to file a tax return, click here.

Remember, with Multiply’s free TaxTim benefit, tax season 2018 doesn’t have to be taxing. 

Sources: 
www.sars.gov.za