Tax season 2024
Important Dates to Keep in Mind:
- Tax Season Starts: 15 July 2024
- Deadline for Non-Provisional Taxpayers: 21 October 2024
- Deadline for Provisional Taxpayers: 20 January 2025
To make this process as smooth and stress-free as possible, we would suggest that you start to gather your documents as they are received from the various institutions. All employers, banks, medical aid providers etc should be sending their various tax certificates out in the next few weeks (if they haven’t done so already).
Our tip – As the emails are received, file them in a folder for “Tax season 2024” and when ready, these can be sent through to our team.
We have put together an easy-to-follow checklist for you to use in collating your documents this tax season, you can download these here:
SARS will, once again, be sending out their auto assessments from the first week of July and these will be available for you to accept for an easy filing process. Auto assessments will be available for taxpayers to action from 1 July 2024 to 14 July 2024.
Just a few things to note on the auto assessments:
What is an auto assessment?
SARS will complete and file income tax returns for the 2024 tax year on behalf of eligible taxpayers based on the data received from employers, financial institutions, medical schemes, retirement fund administrators, and other third-party data providers. A notice of assessment will then be issued.
How does it work?
Taxpayers who are selected to be auto assessed will receive a message via their preferred channel of communication (such as SMS or email) to let them know that their assessment on eFiling or the SARS MobiApp is ready for review.
What should the taxpayer do?
Taxpayers should log onto eFiling or the SARS MobiApp to view their assessment. The assessment will reflect if there is refund due to the taxpayer or if the taxpayer owes SARS. If there is a refund, the taxpayer will need to ensure that their banking details provided to SARS are correct. If there is an amount payable to SARS, kindly ensure that payment is made on or before the payment due date as reflected on the notice of assessment.
If you do not agree with the assessment, please do not accept it. Reach out to your accountant (or to us if you don’t have an accountant!) and they can assist.
