This year, the tax filing season for individuals effectively opens on 01 September, as opposed to the usual 1 July start. But despite the delay, deadlines for various taxpayers remain essentially the same as most prior years. SARS has made a few adjustments to their procedures so it will be important for tax payers to be familiar with their tax matters in order to ensure a smooth filing experience.
AUTO-ASSESSMENTS | THE WHAT, THE HOW AND THE WHEN
Significantly, the SA Revenue Service will assess many taxpayers automatically. Known as an ‘auto-assessment’ this means that SARS will complete your return with all the information it received for you – gathered from your employer, bank, medical scheme, retirement annuity administrator and other companies – and then send you an assessment. If you accept it, you won’t have to file a tax return at all. If you don’t accept the auto-assessment you will need to file your edited tax return electronically by 16 November 2020.
How will you know if you are being auto-assessed? SARS will send you an SMS before the end of August to let you know that your auto-completed return is available on the eFiling site or via the SARS mobile app. Here you can accept or decline the assessment.
If you accept the assessment and a refund is due, it will be paid into to your bank account. But, if you decline or dispute the assessment, you will then need to file your edited tax return electronically by 16 November 2020.
If you do not get an auto-assessment then the following filing deadlines are important:
- Taxpayers who file online via eFiling or the SARS MobiApp: 1 Sept – 16 Nov 2020.
- Taxpayers who can’t file electronically: 1 Sept – 22 Oct 2020.
- Provisional taxpayers who file via eFiling channels: 1 Sept 2020 – 29 January 2021.
PREPPING FOR FILING SEASON
Whether you choose the auto-assessment or not, it is still important to ensure that the documentation used to complete your tax filing is accurate and complete. This includes your IRP5/IT3(a)s, medical certificates, retirement annuity fund certificates, and any other third party data that is relevant in determining your tax obligations.
If you have not yet received your tax certificates, you should immediately approach your employer (or past employer), your medical aid scheme, retirement annuity fund, and any other third party data providers. This information will then need to be verified or added on the tax service’s eFiling system or mobile app.
GETTING TO GRIPS WITH E-FILING
If you are not registered for eFiling or you would like to download the SARS MobiApp, there are a number of helpful tutorial videos from SARS. Your tax professional or accountant will also be able to guide you through the registration process. And if you have used the eFiling system before but, like many of us, have forgotten your password, you can retrieve your username and reset your password on the eFiling website as well.
Ensure that the personal information on your profile, such as your banking details, address and contact details are correct. You can do this by following the “SARS registered details” link.
The SARS eFiling and Mobile App allow you to interact with SARS without having to queue at a branch or call the contact centre. For example, through Help-You-eFile on SARS eFiling, a SARS agent can help you complete your return if you are struggling. This is done telephonically while you are logged onto eFiling. The agent will be able to co-browse and guide you throughout the return submission process. Click here for more information.
WATCH OUT FOR TAX SEASON SCAMMERS
Importantly, SARS will never request your banking or personal details in any correspondence that you receive via post, e-mail or SMS. If a “SARS e-mail” asks you to click a hyperlink to log onto your bank account or another website, it is a scam. You can see examples of other scams here.
For more advice or help in getting your tax matters in order, contact our tax experts today at info@plusexecutive.co.za
About The Author
Charl Viljoen