What is an ITR12/ Individual tax return?
An ITR12 return is an income tax return for an individual which stipulates all the income and allowable deductions claimed by the taxpayer for a year of assessment.
An ITR12 or Income Tax Return is a form that SARS requires all individuals (including provisional taxpayers) to complete and submit to SARS once every year. The form is used to declare your incomes and expenses so that SARS can calculate how much tax you need to pay, or how much of a tax refund SARS needs to pay you.
Continue reading “Income Tax Return – Individuals (ITR12)”