087 460 0162 admin@crha.co.za

The South African Income Tax season “kicks-off” on the 7 July 2023 and remains open until 23 October 2023 (for ordinary taxpayers) and 24 January 2024 (for provisional taxpayers).

Failure to submit your filing within the deadline may result in penalties being levied by the SARS – so please diarise this date!

The SARS auto-assessment option appears to be gaining momentum and is an ideal option for taxpayers who have routine sources of income and deductions. The SARS will commence these auto assessments on 1 July 2023. Taxpayers who have been auto assessed will receive a sms to this effect and guiding you to review your assessment on SARS MobiApp or “e-filing” (a process you should follow and not just accept the SARS assessment).  

In reviewing your auto assessment, please ensure that you are aware of all certificates of income and deductions that should have been submitted to the SARS and included in your assessment. Typically, these include:

  1. Income – IRP5 for employment/annuity income, IT3(b) for interest income and IT3(c) for capital gains received during the year.
  2. Deductions – IRP5 for PAYE, together with a medical aid tax certificate and provident / pension fund contributions.

Should you, after your review, agree with the SARS assessment, no further action is required, and you will receive a notification of the refund or amount due within 72 hours of the assessment.

Should you however elect not to accept the auto assessment, you will have until the 23 October 2023 or 24 January 2024 (dependent upon your tax status) to submit your tax filing.

We recommend taxpayers with income and / or deductions that do not into the above to seek professional support to assist in completing and filing your income tax filing.

Contact Craig on 083 282 1535 or craig@crha.co.za or Sarah on 082 460 8517 or sarah@crha.co.za