If you have not already received your tax return, expect it shortly. And it should be tailored to your needs - a simple form for those with uncomplicated tax affairs or a more detailed one for those with more to declare.
The South African Revenue Service (SARS) says all returns for salaried individuals or pensioners will be in the mail by the end of March.
Returns for individuals who farm or run businesses will be sent out immediately thereafter, SARS says.
The deadline by which you must complete and submit your return is Friday, July 9.
Hugh Knight, a Cape Town tax consultant, says the returns seem to have been mailed at least a month earlier than usual, with some being received as early as March 4.
"The early despatch will please those taxpayers expecting a refund, who will want to send back their completed forms as soon as possible," Knight says.
SARS says it will also be encouraging taxpayers to file their returns before the July 9 deadline.
Knight says the arrival of the returns should be a reminder to employers who hold back IRP5 tax certificates until their employees receive their tax returns.
SARS says employers, financial institutions and medical schemes are expected to issue tax certificates by April 30. SARS says that, in terms of the law, employers are bound to issue certificates within 60 days of the end of February and it will impose penalties on employers who fail to do so.
This year, salaried individuals and pensioners have been sent one of three returns: the IT12SS, the IT12S and the IT12SB.
The simplest form, the IT12SS, is for people who receive straightforward salaries. This return does not include sections in which you can declare rental income or foreign pensions. If you receive an IT12SS and, for example, you do need to declare rental income, you must still do so. An attachment, which you can complete and submit with your return, is provided in the accompanying guide.
The IT12S form will be sent to people with structured salaries, generally those with allowances for, for example, travel or housing.
The IT12SB form is for taxpayers who earn salaries or pensions and investment income.
Disposal of fixed property
Knight says an addition to the IT12S and IT12SB form is as section which, among other things, requires disclosure of fixed property acquired or disposed of, as well as the same information for moveable property with a market value exceeding R25 000.
You are also required to specify in detail inheritances received, he says.
SARS says there are questions in the forms that will help it determine which return to send you in future.
In December, Personal Finance reported that SARS had admitted that it was not processing the 2002/03 tax-year returns as quickly as before, due to an increase in the number of people submitting returns.
Although SARS would not confirm it, tax advisers said at the time they had been told it would take 18 weeks to process a return.
This week, SARS said there is no backlog of returns from the 2002/03 tax year, and it is currently able to process more returns that it is receiving. SARS said that after taking last year's processing experiences into account, its infrastructure is ready for the 2004 filing season.