IT3(t) declarations: What you need to know

The South African Revenue Service (SARS) has introduced the new IT3(t) submission requirements as part of its ongoing efforts to enhance transparency and improve tax compliance, particularly within the trust environment. These requirements are designed to address gaps in the reporting of certain financial information, especially those related to distributions to beneficiaries. What is IT3(t) […]

Logbooks for individuals and diesel rebates in farming

Requirements for a valid logbook Individuals The 2020 tax season officially started on 1 September 2020 and individual taxpayers are required to file their income tax returns by the following dates: Non-provisional taxpayers 1 September to 16 November 2020 Provisional taxpayers 1 September 2020 to 29 January 2021 Many taxpayers receive a travel allowance or […]