So you’ve just started earning and congratulations are in order! But with that first paycheck comes a new responsibility: filing your taxes with the South African Revenue Service (SARS). Fear not, tax newbies, this article will guide you through the basics of SARS Filing Season.
What is Filing Season?
Think of Filing Season as the official window for South Africans to submit their income tax returns to SARS. For most individual taxpayers (those who don’t pay provisional tax), Filing Season typically runs from mid-July to late October. The exact dates are announced by SARS each year, and for the 2024 tax year, they are 15 July 2024 to 21 October 2024.
Do I Need to File?
Not everyone needs to file a tax return. SARS may pre-assess your income tax based on information they receive from your employer (through PAYE). You’ll receive an auto-assessment notice between 1 and 14 July 2024. This notice will detail the income SARS is aware of and the amount of tax you might owe (or any refund you might be due).
Here’s when you should definitely file a return:
- You disagree with the information on your auto-assessment.
- You have additional income that SARS might not be aware of (e.g., freelance work, side hustles).
- You’re claiming tax deductions or credits (e.g., medical expenses, travel for work).
Filing Made Easy: eFiling and SARS Mobi App
Gone are the days of paper forms! SARS offers convenient online filing options:
- eFiling: This is the most popular option, allowing you to securely submit your return from the comfort of your home. You’ll need to register for eFiling on the SARS website (https://www.sars.gov.za/).
- SARS Mobi App: This user-friendly app lets you access your tax information and even file a simple return on your smartphone.
Feeling Overwhelmed? Help is Available!
SARS offers a wealth of resources to guide you through the filing process. Here are some helpful starting points:
- SARS website: The SARS website has a dedicated section for individuals with information on Filing Season, tax deductions, and more (https://www.sars.gov.za/).
- SARS Contact Centre: If you have specific questions, don’t hesitate to contact the SARS Contact Centre.
Remember: Filing your taxes on time is crucial to avoid penalties. By taking advantage of the resources available and starting early, you can navigate SARS Filing Season with confidence. Even if you don’t owe any taxes or don’t need to file a return this year, registering for eFiling now will save you time and hassle in the future.
