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Can I still submit my Income Tax documentation to MP Tax manually?

Yes, definitely. Tax documentation can be emailed, faxed, mailed or delivered at our offices anytime. We do however encourage you to register youself as a user on our website in order to benefit from regular updates on the progress of your tax return at MP TAX as well as at SARS.

How do I submit my Income Tax Return information to MP Tax online?

By means of a wizard on our home page - submit/view your tax return information - you are guided through a process whereby your specific tax scenario is defined. It will determine WHAT documentation is required from YOU; also enabling you to upload it in order to be retrieved by us.

How will I be able to follow the progress on my Income Tax Return?

Our system will be updated daily with correspondence from SARS after which an e-mail and sms will be sent out to you if any changes occur on your tax status. The progress will be explained in the e-mail or you can login with your username and password to view your tax return status. Updates will be sent to you from registration up to the final stage where your refund gets paid out or payment be made to SARS.

What are the steps followed by MP Tax if not in agreement with SARS’ calculations?

If a mistake by SARS is picked up (such as a simple typing error which transposed digits) a Request for Correction (RFC) form will be submitted to SARS to rectify the mistake.

 

If MP TAX is not in agreement with what was allowed or disallowed in terms of the interpretation of the Income Tax Act, a Notice of Objection will be lodged to SARS on behalf of the client.

 

Further processes following objections will be dealt with after consultation with the client / taxpayer.

What costs and protocols pertain to the lodgement of Annual Returns?

Annual Returns must be lodged in electronic format together with payment of the prescribed fee as stipulated by the Companies and Intellectual Property Commission (CIPC) regulations. Prescribed fees relating to Annual Returns are based on turnover of the specific company or close corporation as well as a penalty for late lodgement of the Annual Return.

What happens if my employer sends SARS the wrong information?

You are responsible for the information on your income tax return which you submit to SARS. You must therefore compare your employee tax certificate information against the IRP5/ IT3(a) certificate your employer gives you and if it is wrong, you must correct it on your return.

What is a logbook?

A logbook is any form of record or book where you record every business trip you have done and include details such as date, mileage, distance, time, cost per km.

What is a travel allowance?

A travel allowance is an allowance given by your employer for business travelling purposes required by the employee.

What is the process followed once returns have been submitted?

Once your tax return has been submitted to SARS, it will go through an assessment process which can take up to 60 days to be finalised. As soon as the assessment is finalised, SARS will send MP TAX a Notice of Assessment (ITA34) to inform whether a refund / payment is due to / by you. Your ITA34 Notice of Assessment will provide detailed calculations on your assessment, including which deductions (if any) were allowed or disallowed. MP TAX will compare the assessment with initial claims on your return and follow through on the process of objecting to any errors / disallowances. Should your return be flagged for further investigation, you will be informed of this by MP TAX and supporting documentation may be requested from you.

What records do I need to submit to MP Tax to complete my tax return?

Gather your supporting documentation e.g. IRP5’s, IT3’s, medical certificates, pension and retirement annuity certificates, travel records, etc. to hand over to MP TAX for completion of your annual tax return.

Records pertaining to income, other than remuneration by your employer, should also be made available to MP TAX, as non-disclosure of income is considered a serious offence.

What will happen if one fails to lodge one's Annual Return?

Should a company or close corporation fail to lodge and pay for its Annual Return for a period of more than six months, the Commissioner may conclude that the company or close corporation is no longer conducting business and may refer it to be deregistered.

Who are required to lodge annual returns?

All companies (profit and non-profit companies) are required to lodge annual returns with CIPC each year in the month following their month of incorporation.

Why does one need to submit an Annual Return?

In keeping with legislation, each company or close corporation are compelled in terms of the Companies Act to lodge an Annual Return once every year. The Companies and Intellectual Property Commission (CIPC) needs to determine two things:

 

    • Whether a registered organisation is still in business
    • Confirmation that they are in possession of the latest information of the organisation 
 
 
 
 

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