Continuing from last year’s auto-assessment rollout, SARS confirmed that a significant number of individual taxpayers will be auto-assessed, commencing from the start of July. If you receive an auto-assessment, you need to accept it or reject it and file the correct details within 40 days from the date of assessment.
It is important to note that if you do not accept or reject the auto-assessment, SARS will use its auto-assessment as an estimated assessment for the taxpayer. You will NOT be able to object or appeal the estimated assessment once issued. It is therefore important that you contact your Moore office on receipt of the auto-assessment, so that it will be checked against the source documentation provided.
SARS have confirmed a shortened time frame to submit tax returns so, in order to meet these reduced deadlines and avoid the levying of administrative noncompliance penalties, clients are requested to provide the relevant supporting documentation as soon as possible. The tax return submission periods are detailed below:
Periods within which income tax returns must be furnished
Income tax returns must be submitted within the following periods:
- in the case of any company, within 12 months from the date on which its financial year ends; or
- in the case of all other persons (which include natural persons, trusts and other juristic persons, such as institutions, boards or bodies)
- on or before 24 October 2022 if the return is submitted electronically through the assistance of a SARS official at an office of SARS or manually;
- on or before 24 October 2022 if the return does not relate to a provisional taxpayer and is submitted by using the SARS eFiling platform;
- on or before 23 January 2023 if the return relates to a provisional taxpayer and is submitted by using the SARS eFiling platform; or
- where accounts are accepted by the Commissioner in terms of section 66(13A) of the Income Tax Act in respect of the whole or portion of a taxpayer’s income, which are drawn to a date after 28 February 2022 but on or before 30 September 2022, within 6 months from the date to which such accounts are drawn.
For further information about the 2022 filing season see links below.