Taxpayers urged to plan for filing season
SARS announces dates for filing season, encourages taxpayers to gather documents early
Taxpayers are being urged to start preparing for the upcoming tax season, set to begin next month.
The revenue service says it will begin conducting auto-assessments for non-provisional taxpayers from 1 to 12 July.
The season for non-provisional individuals who are not auto-assessed will begin on 13 July, with provisional taxpayers and trusts.
“A non-provisional taxpayer is typically a person who earns a regular salary or wage from an employer and whose PAYE is already deducted throughout the year.
“Usually, these taxpayers have simple tax affairs with no additional income sources, and they are either auto-assessed or submit their tax returns once during filing season every year,” said Sars.
Provisional taxpayers, however, earn income on top of a regular salary or from a different source altogether. This could be income from a business, freelance work, investments, or rental income.
These taxpayers must pay their tax in advance, usually in two or more instalments during the year, based on their estimated income.
Sars urges the necessary documents to be gathered early and for individuals to file as soon as possible when the season opens to avoid unnecessary pressure.
“Make sure everything is up to date for a hassle-free filing experience. This year, we will again issue auto-assessments to taxpayers whose tax affairs are less complicated. If you are in agreement with your auto-assessment, there is no need to ‘accept’ the assessment. If a refund is due to you, it will automatically be paid into your bank account,” said Sars.
In the run-up to the filing season, taxpayers are further being warned not to fall prey to phishing scams.
“There will be many attempts from scammers to mimic what we do and try and get your personal details, or to pay money into an account,” warned the revenue service.
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