Biggest Mistakes You Can Make on Your Tax Returns

There are several mistakes you could make on your tax return. It’s sensitive and could be a minefield of errors if you don’t do the homework well before filing.

At a glance, these mistakes could be:

  • Make sure you have indicated whether you have a bank account or not. SARS can check how much you have in your bank.
  • Not declaring investments. Don’t think you can get away with not making clear if you have a bank account or not, and your investments in the bank.
  • You may think you don’t have to file a return, and there are cases when you don’t have to. To be sure, get expert advice from a CA.
  • You must declare income that has already been taxed. You may because it has been taxed you don’t need to declare it.
  • Make sure that your IRP5 is correct and has all the details on it that it should have.
  • Keep all your medical expenses that your medical aid hasn’t covered. You may be asked to prove what you have claimed for if you are audited.

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