SARS has announced that the 2022 tax season will be opening on 1 July 2022.
- Taxpayers who file online (via the SARS E-filing website or SARS MobiApp) have until 24 October 2022 to file their ITR12 returns. Those who are not able to file online can make an appointment at a SARS branch to file in person;
- Provisional taxpayers have until 23 January 2023 to file their ITR12 returns.
As we've mentioned before (Don't say yes to that auto-assess), although the SARS auto tax assessment is quick and easy, it doesn't always work out in your favour. This is especially so for freelancers and business owners whose income is more complex than just a regular monthly salary. If you are a provisional taxpayer, work from home or if you own your own business, it is advisable to talk to your tax practitioner prior to filing your tax return or accepting the auto-assessment, where applicable.
In preparation for the filing season, taxpayers should ensure they have the following information:
· All IRP5/IT3(a) certificates;
· Medical aid contributions certificates;
· Retirement annuity contributions certificates;
· Donation certificates;
· Other income information;
· Home office information;
· Address, banking details, etc updates;
· Any other relevant tax information.
We look forward to helping you through this tax season!