Exponential Brilliance: Tax Consultants of choice this tax season!

by Amanda Roothman on 4 August

Albert Einstein said the following on the filing of income tax returns: "This is too difficult for a mathematician. It takes a philosopher."

Do not despair. You have Exponential Brilliance on your side! Allow us to act as your tax consultants of choice this tax season.

We promise our tax clients a delightful experience, and with the use of our uniquely designed Exponential Brilliance Swift Portal, we ensure to leave a memorable impression on you!

As SARS embarked on an auto-assessment process this year, they auto-assess some individuals based on data received from third parties, such as Employers, Financial Institutions, Medical Schemes and Retirement Annuity Fund Administrators. 

This process is aimed at non-provisional tax individual taxpayers, with the following typical third party documents:

  • IRP5 issued by your employer, with a normal basic taxable income (with no allowances);
  • Medical Aid Certificate (with no additional claimable medical expenses);
  • Retirement Annuity Certificate(s)
  • Interest Certificate(s)

If you fall in the scenario above, you will be able to accept the results of your auto-assessment. The SARS system calculates your tax refund or liability based on the information above.

However, if you wish to claim any deductions such as:

  • Business kilometres travelled against a travel allowance, or use of a company vehicle (and you have a logbook);
  • Medical expenses not recovered from your medical aid;
  • Donations to a Public Benefit Organisation (and you have received a Section 18A certificate);
  • Section 12J Venture Capital Company investment deductions (and you have a certificate);
  • Expenses against commission income;

SARS will not know about these claims and it will not be added to the auto-assessment.

SARS has confirmed that you, or your tax consultant of choice, may select the "edit" option, and amend the tax return. It has been confirmed that you do not have to wait until 1 September 2020 to do so.

Contact us if you received an auto-assessment sms notification and we will guide you on how to proceed.

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With the above said, Exponential Brilliance is passionate about client satisfaction. We are what we repeatedly do. Excellence is therefore not an act, but a habit.

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