tax season

The tax filing season has changed in 2020 and, in order to keep you in the loop, we share some recently announced updates from SARS.

The new filing dates for the 2020 tax filing season, which cover your income/expenses from 1 March 2019 to 28 February 2020, will be as follows:

  • Salary earning (non-provisional) taxpayers who file online: 1 September 2020 to 16 November 2020
  • Provisional taxpayers who file online: 1 September 2020 to 31 January 2021
  • Branch filers (By Appointment): 1 September 2020 to 22 October 2020

In August, SARS will be implementing an auto-assessment to some individual taxpayers and you may receive an SMS if you are selected to be auto-assessed. Essentially this means that SARS attempted to complete your tax return based on 3rd party data alone (such as IRP5, medical, investments) and has issued you an assessment without your input.

We suggest that you don’t accept the auto-assessment but rather file your tax return as before from the 1st of September. Doing so will prevent the following scenarios from happening:

  • Potentially no/ or a reduced tax refund because SARS doesn’t have all your data
  • Potential errors as SARS may not have your latest tax certificates from your employer
  • No ability to claim tax deductions which will not appear on your auto-assessment e.g. medical expenses, donations, home office, wear and tear, etc.

With just a few more months to go before tax season is here, take advantage of our team of online accountants and bookkeepers. We are here to guide you through these challenging times so please feel free to contact us at info@diga.co.za. Our team of experts is on standby to assist you.