As the tax season approaches, it is essential to stay informed about the latest updates and requirements for filing your taxes. The South African Revenue Service (SARS) has provided updated guides and information for the Filing Season 2023. In this article, we will cover the key points you need to know to navigate the SARS Filing Season 2023 successfully.
Filing Dates and Criteria
The Filing Season 2023 for individuals has specific dates and criteria you should be aware of. Here are the important details:
- Individual taxpayers (non-provisional): The filing season opens on 7 July 2023 at 20:00 and closes on 23 October 2023.
- Provisional taxpayers: The filing season opens on 7 July 2023 at 20:00 and closes on 24 January 2024.
It’s crucial to note these dates to ensure you file your tax returns within the designated period.
Pre-population of ITR12 Third Party Data
In preparation for the Filing Season 2023, SARS has introduced pre-population of ITR12 third party data. This means that certain information relevant to your tax return may be automatically populated based on data received from third-party sources. However, it is important to review and ensure the pre-populated data is comprehensive before submitting your tax return.
Changes for Filing Season 2023
SARS has implemented several updates and changes for Filing Season 2023. Here are some notable changes to be aware of:
- Aligning the 40 Business Days Rule: The 40 business days rule, which allows individuals to revise their auto-assessment, will now coincide with the normal filing due date for non-provisional taxpayers, which is 23 October 2023.
- Payment Due Dates: The payment due date for non-provisional eFilers will be adjusted based on the notice of assessment issuance date.
- Statement of Assets and Liabilities: Provisional taxpayers with business interests and assets above R50 million are required to declare their assets and liabilities at market values.
- Foreign Income Disclosure: SARS has introduced new fields to declare income received from foreign employment services that are subject to tax outside South Africa.
- Spouses Married in Community of Property Assessment: Married individuals in community of property will be taxed on half of their interest, dividends, rental income, and capital gains.
Make sure to familiarize yourself with these changes to accurately complete your tax return.
Filing Methods
To file your tax return for the Filing Season 2023, you have multiple options:
- SARS MobiApp: Download the SARS MobiApp from the Apple App Store, Google Play Store, or Huawei App Gallery. The app allows you to complete your ITR12, submit supporting documents, make payments, and more.
- eFiling: Register on the SARS eFiling website (www.sarsefiling.co.za) to file your tax return online. This method is popular and convenient.
- SARS Branch Office: You can file your tax return electronically at a SARS branch by making an appointment. Remember to bring all your supporting documentation.
- SMS Service: Taxpayers registered for Personal Income Tax (PIT) can book an appointment by sending an SMS to 47277 (iSARS) with the required information.
Choose the filing method that suits you best, ensuring you have all the necessary documentation and information readily available.
SARS Helpdesk and Support
If you have any queries or need assistance during the Filing Season, SARS provides various avenues for support:
- SARS Contact Centre: You can contact the SARS Helpdesk at 0800 00 7277 (SARS) between 08h00 and 17h00 (excluding weekends and public holidays).
- Online Support: Visit the SARS eFiling website (www.sarsefiling.co.za) to resolve queries and access additional resources.
It’s advisable to reach out for assistance if you encounter any challenges or require clarification.
