It's that time of the year again reckoning with the taxman.
Taxpayers should be receiving their tax returns, and will no doubt be tempted to throw the dreaded document on top of the fridge to worry about closer to the deadline date, June 7.
But resist the temptation it pays to fill out your form with care and thought, and you may need extra time to obtain copies of missing documents.
Here are some points to bear in mind when tackling the dreaded task.
* Deadline and extensions: You'll pay a penalty (R150 for first-time offenders) if you miss the deadline for submitting your return. You can apply for an extension if you feel you won't be able to meet the deadline.
Write a letter to your local Receiver of Revenue requesting an extension (anything from one to 12 months) and give a reason. Acceptable reasons include: difficulty in recovering an IRP 5 from your employer; awaiting documents showing your investment income; or retirement annuity contributions.
* Help: This year's tax return is shorter and easier to read, nevertheless, to the uninitiated, the document will be as clear as mud. Your local Receiver's office offers free help (go to the inquiry counter).
Alternatively, you could seek the help of a tax specialist. There is a list of tax consultants in the yellow pages, but rather than making a random choice, try and get a word of mouth referral to make sure you're getting quality advice.
There isn't a standard cost for this service - indeed, there's a huge disparity. The cost ranges from R150 to R550 and more, depending on the complexity of the return (one firm I phoned charges 20 percent of the taxpayer's refund).
Some accounting firms offer a tax service and could charge from R450 to R700 for a simple return, with more complex returns charged on a time spent basis.
If you received a travelling allowance from your employer, or have a lump sum payout on your retrenchment or retirement, or run a small business, it's probably a good idea to invest in the services of a qualified tax expert. But remember, there are many tax practitioners and they're not all equal go for a qualified professional.
There also are tax books on the market which can help you.
* What to do if you haven't received a tax return: Unfortunately, you aren't let off the hook if you are required to submit one. The onus is on the taxpayer to register with the local Receiver so phone up and ask for a tax return if you have not received one.
The law requires any salaried employee who earns more than R50 000 a year to submit a return. Employees who earn less than R50 000 (that is, SITE taxpayers) are obliged to file a return if they earn interest of more than R2 000, or if they earn other income like rent, business profits or salary from part-time employment.
Also, SITE taxpayers should file a return when they contribute to a retirement annuity fund, or if their medical bills are greater than R1 000 or five percent of their income, or if they receive a travel allowance or other allowance from their employer against which expenses will be claimed (because they'll get a tax refund).
People who receive income from a business, investment or other income should file a return if their taxable income is more than the stated tax thresholds (R14 604 if you're under 65, R26 785 if you're over).
Women married in community of property will be taxed on their share of the couple's investment and rental income if the tax threshold is exceeded.
If you are a director of a private company or a member of a closed corporation, you are also obliged to render a return (even if your income is less than the tax threshold).