Navigating you through – Tax Returns, Assessments, and Objections

At The Tax Shop Polokwane West (Pty) Ltd, we are dedicated to making your life easier by providing comprehensive tax services.

Here’s a concise guide on tax returns, assessments, and objections in South Africa to help you stay informed and compliant.

Tax Returns:

• ITR12 (Individuals): Issued on request after the assessment year. Requires disclosure of all gross income, capital gains/losses, exempt income, and allowable deductions.
• ITR14 (Companies): Similar process to ITR12 but for corporate entities.
• ITR12T (Trusts): For trusts, covering income and deductions.

Submission:

• Complete and submit via e-Filing or in hard copy.
• No supporting documents required initially, but SARS may request them for review or audit.

Assessments:

• IT34 Document: Issued by SARS after assessment, detailing net payable/refundable amount and due date.
• e-Filing: Platform for issuing and submitting tax returns and assessments.

Objections and Appeals:

• Notice of Objection: Submit within 30 days if you disagree with the assessment. Burden of proof lies with the taxpayer.
• Notice of Appeal: If objection is disallowed, submit within 30 days. Details disputed tax and grounds for appeal.

Appeal Process:

1. Tax Board: Handles initial appeal.
2. Tax Court: For unresolved disputes or if Tax Board decision is unsatisfactory.
3. Alternative Dispute Resolution (ADR): Less formal, cost-effective resolution method. If unresolved, it moves to the Tax Board or Tax Court.

Payment of Disputed Tax:

• Tax must be paid by the due date even if under dispute.
• Request to suspend payment can be made to a senior SARS official if planning to object.

Tax Board and Tax Court:

• Tax Board: Consists of an advocate/attorney (chairman) and possibly an accountant or commercial community representative.
• Tax Court: Comprises a Supreme Court judge, an experienced accountant, and a commercial community representative.

Appeals to Higher Courts:

• Possible to appeal Tax Court decisions to the provincial High Court or the Appellate Division of the High Court.

Penalties:

• Monthly penalties for non-compliance, imposed until the issue is resolved. Applicable if more than one year’s tax return is outstanding.

Conclusion:

Understanding these processes ensures you remain compliant and can effectively handle any disputes. For personalised assistance, visit us at www.taxshoppolokwane.co.za or contact us at The Tax Shop Polokwane West by calling the office 072 777 1187 to book a consultation.

Contact Us:

• Website: www.taxshoppolokwane.co.za
• Location: 19 Tangelo Street, Bendor Ext 51, Polokwane, 0713

Our mission is to make your life easier by guiding you through the complexities of the tax system. Let us handle your tax needs so you can focus on what matters most to you.