2011 Tax Season Dates

Individual Taxpayers and Trusts:

The dates for individual taxpayers and trusts to submit their 2010/11 annual income tax returns to SARS have been announced. The dates are as follows:

• 1 July 2011 Submission period opens for all taxpayers
• 30 September 2011 Manual Submission deadline for all taxpayers
• 25 November 2011 Electronic submission deadline for non-provisional tax
• 31 January 2012 Electronic submission deadline for provisional tax

Employers Tax:

Season 2011 closed on 3 June 2011. The interim reconciliation declarations for the period 1 March to 31 August are due between 1 September and 31 October 2011. Failure to submit in time or failing to complete the mandatory fields, including demographic information and Income Tax reference numbers, will result in SARS imposing a penalty equal to 10% on the total Pay-As-You-Earn (PAYE) paid for the period.

Allan Gray:

Allan Gray will be sending certificates out, as per below table:

Useful Links:

• 2010 Employers Tax Season
• 2010 Individual Tax Season
• 2011/2012 Tax Tables

The Tax Tables for the next financial year were released during the Budget Speech on 23 February 2011.

Silke Financial Services has the skill and expertise to advise on all aspects of retirement planning and investments in general.