Tax certificates: Don’t take it for granted that the uploads are accurate and complete
IT SEEMS like it was just the other day that I’d finished submitting the 2023 tax returns for of my clients—mainly because for two of them, it literally was.
For the clients in question, the late submission was due to delays in obtaining IRP5 certificates from various providers. SARS has imposed the inevitable administrative penalties for late submission, and as I am writing this, I am having a bit of an argy-bargy with SARS concerning the remittance of such penalties.
This brings us to the first (and most important) area in which taxpayers need to prepare for the 2024 Filing Season (which opens this month), being …
Request your IRP5 certificates (especially for lump sums)
This might seem to be a strange place to start. After all, the first phase of SARS’ efforts to automate and simplify tax return submission some years back was the upload of IRP5 certificates.
For the most part, this phase has been successful—to the point where …
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