Wednesday, September 21, 2011

Income tax: Furnishing returns for the 2011 year of assessment.


In terms of South African Revenue Service (SARS) Notice No 531 published on 1 July 2011, persons who received income in accordance with the thresholds stated in paragraph 2 of the notice are required to furnish returns for the 2011 year of assessment within the periods indicated in paragraph 4 of said notice.

Persons referred to (which include natural persons, trusts and other juristic persons, such as institutions, boards or bodies) are required to furnish returns on or before 30 September 2011 if the return is submitted manually, and on or before 25 November 2011 if the return is submitted in an electronic format, as stipulated in the regulations issued in terms of the Income Tax Act.

In the case of persons “2011 year of assessment” means the period ending 28 February 2011.

Pieter Rautenbach

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