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Saturday, June 15, 2024

South Africa: Gear Up for Tax Season 2024!

The South African Revenue Service (SARS) has announced the opening dates for the 2024 tax filing season! Mark your calendars – it’s time to gather your receipts and get filing!

Here’s a quick rundown of the key dates:

  • Individual taxpayers (non-provisional): 15 July 2024 to 21 October 2024 (Shorter window this year!).
  • Auto-assessment notices: 1 July 2024 to 14 July 2024 (Keep an eye out for this!).
  • Provisional taxpayers: 15 July 2024 to 20 January 2025.
  • Trusts: 16 September 2024 to 20 January 2025.

For individual taxpayers (non-provisional):

This year, SARS will be issuing auto-assessment notices to those with uncomplicated tax affairs. If you agree with the assessment, you don’t even need to take any action – it’s that simple! But always double-check the details before accepting.

Here are some tips to prepare for a smooth filing experience:

  • Gather your documents: Make sure you have your IRP5/IT3(a) forms, medical scheme and retirement annuity certificates, and any investment income documentation.
  • Review your SARS details: Ensure your banking information and eFiling login details are up-to-date to avoid delays.
  • Explore your options: Consider using SARS eFiling or a registered tax practitioner for assistance.

Need more information?

SARS has a wealth of resources available on their website: https://www.sars.gov.za/types-of-tax/personal-income-tax/filingseason/

Don’t wait until the last minute! Get organized early and avoid the stress of a looming deadline. Remember, filing your taxes on time is not just your responsibility, but it also helps fund crucial government services.

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