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Avoid a SARS audit by simply checking these four elements on your tax return

by , 13 October 2014
Something as simple as putting a decimal point in the wrong place on your tax return could trigger SARS' alarm bells and get you in trouble.

That's why you need to check all the details and ensure you give SARS the correct information.

You also need to check these four elements on your tax return to ensure it's correct...

 

Check these four tax return elements so you give SARS the right information

 
1. Check all your company details on your tax return. This ensures there's no confusion that could lead to SARS imposing penalties on you. 
 
If you enter incorrect company details and, therefore, your company doesn't show up on SARS' system, it might suspect you created a fake company to try claim false tax deductions. 
 
This simple misunderstanding could have serious consequences.
 
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2. Check all the amounts on your tax return. As I said, simply moving the decimal point or adding an extra zero by mistake can land you in hot water, so double check all the amounts you put on your return are correct.
 
3. Check you attached the correct supporting documents. If you attach a wrong document, it will lead to confusion and SARS will probably disallow that tax deduction. This means your company loses out.
 
4. Enter the details of your tax deductions correctly. This includes the date of the transaction (if it's a once-off), the reason for it and the type of deductions.
 
If you ensure all these elements are correct, you'll go a long way in protecting your company from a SARS audit.
 
For more advice on correctly completing your tax return, check out the Digital Practical Tax Handbook. It's just like having a tax expert on your computer. 
 

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