Tax season is upon us, with just a few more days to go here are some important dates as formally announced by SARS:
Auto Assessments
From 01 July 2024 to 14 July 2024 SARS will be issuing auto assessments. SARS will use information as supplied by third parties (for example: medical aids, banks, retirement annuities) to compile the auto assessments.
If you are not in agreement with the auto assessment issued by SARS please contact our office in order for us to submit a tax return to SARS. We will require the documentation for the amendment before the filing due date of 21 October 2024.
Non-Provisional Taxpayers
Starting from 15 July 2024 non-provisional taxpayers will have time until 21 October 2024 to submit their returns to SARS. Failing to meet this deadline, SARS will issue penalties and interest for any late submissions. We urge you to please supply us with all relevant information and documentation before the 15th of July 2024 to ensure that your return is submitted promptly and accurately.
Provisional Taxpayers
Provisional taxpayers will have from 15 July 2024 to 20 January 2024 to file their tax returns. Once again SARS will issue penalties and interest on any tax returns submitted after the deadline.
Trust Tax Returns
Please take note that Trusts now have a separate filing period, this period will commence on 16 September 2024, the deadline for trust will be 20 January 2024.
New IT3D
Public Benefit Organisations that issue a Section 18A certificates will now have to disclose full details of the said certificates to SARS as a third-party provider of information.
New IT3T
Trusts must now submit third-party declarations to disclose distribution made to beneficiaries.