How to Prepare for Tax Returns in 2025 – A Complete Guide
/As the 2025 tax season approaches, to ensure a smooth submission, it’s crucial to understand how to prepare for tax returns. Proper tax return preparation is important for meeting the tax filing deadline and submitting all required documents accurately.
Contact Pumeza at (Pumeza@anlofin.com) and send the required documents, so that we can save them in our files.
At Anlo Accounting, we aim to make this process as seamless as possible for you. Below, we've outlined the key dates for the 2025 tax season and a comprehensive list of documents you'll need to provide us. Additionally, we'll explain the auto-assessment process and how we can assist you with it.
How to Prepare for Tax Season
Knowing how to prepare for tax season can greatly ease the tax return process.
Begin by organizing your income and expense records.
Ensure your SARS eFiling account is up to date and that you have all the required documents for accurate tax return preparation.
Double-check all income sources and deductions before submission.
Tips for Submitting Your Tax Return
When submitting your individual income tax return, remember to verify your banking details for refunds. Ensure all supporting documents are accurate to avoid delays in processing your return. Follow these tax return tips to ensure your return is processed smoothly through SARS eFiling.
Key Dates for the 2025 Tax Season
The tax season for individuals in South Africa typically runs from July to October 2025 for non-provisional taxpayers, and until 20 January 2026 for provisional taxpayers. We encourage you to submit your documents as early as possible to ensure ample time for preparation and submission.
Required Documents for Your Tax Return
To ensure successful tax return preparation, gather and provide us with the following documents:
IRP5/IT3(a) Certificates: These are your employee tax certificates or interest certificates. You will start receiving them over the next couple of months.
Certificates for Local and Foreign Interest Income: Including any foreign dividend income.
Medical Scheme Certificates: Proof of medical expenses paid and not recovered from a medical scheme.
Disability Expenses: Completed ITR-DD Confirmation of Diagnosis of Disability form if the taxpayer is claiming disability-related expenses.
Retirement Annuity Certificates: From financial institutions where contributions were made. You will receive a certificate over the next couple of months – save this 😊
Travel Allowance and Fringe Benefit Documentation: Including a logbook for business travel deductions – please ask us if you would like a template.
Capital Gains Information: Details of any local or foreign capital gain transactions or any properties sold.
Commission-Related Expenditure: Receipts and a logbook for business travel deductions.
Rental Income Information: All relevant documents if you have rental income as well as expenses.
Financial Statements: For any trading or farming activities that affect your tax return
Other Income and Deduction Documents: Any other documents related to income or deductions that need to be declared.
Donation Certificates: Proof of donations made to registered charities.
You can also check your folders/emails/drives for any additional documents that might be relevant, such as:
Bank statements
Investment statements
Loan agreements
These documents are vital for completing your individual income tax return and filing through SARS eFiling. Make sure you have everything organized ahead of the filing season.
Understanding Your Tax Assessment
After submitting your tax return, you’ll receive an assessment from SARS, outlining whether you owe taxes or are entitled to a refund. If there are discrepancies or additional info to include, it’s important to act promptly and address them. Understand how your assessment impacts your overall tax obligations.
Auto-Assessments
SARS has introduced an auto-assessment process to simplify tax filing for individuals with straightforward tax affairs. If you receive an auto-assessment notice, it means SARS has pre-populated your tax return based on data from employers, financial institutions, and other third-party sources.
If you agree with the auto-assessment, no further action is required. However, if you believe there are discrepancies or additional information that needs to be included, please get in touch with us. We can review your auto-assessment and ensure everything is accurate and complete.
Ready to Submit Your Tax Return? Get Professional Assistance Today!
As you prepare for the 2025 tax season, knowing how to prepare for tax returns can save you time and stress. If you're unsure about the process or need assistance, our expert accountant is here to guide you every step of the way. Anlo can help ensure all your documents are in order and your tax return preparation is accurate and compliant with the latest regulations. Don’t wait until the last minute, contact us today to ensure a smooth and successful filing experience!
We look forward to assisting you with your 2025 tax return!
