2020 Tax Season for Individuals

2020 Tax Season for Individuals

With the Covid19 pandemic, SARS has delayed the official start of the individual tax season from 1 July 2020 to 1 September 2020

SARS is encouraging all taxpayers to use e-filing channels to file their tax returns and avoid those never-ending queues at the SARS offices while staying safe.

Deadline Dates:

• Manual 2020 tax return submission (via a visit to any SARS branch office by appointment) is 31 October 2020
• Non-provisional taxpayers via e-filing is 16 November 2020 (employed individuals who earn an income from one or more employer)
• Provisional taxpayers via e-filing is 31 January 2021 (individuals with other forms of income – investment income, sole trader, rental income or directors of companies/members of close corporations)

SARS will be issuing assessments automatically without submission of the tax returns (their new “Auto-assessment” process)

In August 2020 SARS will automatically assess a number of taxpayers – if you have been selected for auto-assessment, SARS will send you an SMS. You can either accept the assessment (if accepted you do not have to submit a tax return at all) OR make changes to your tax return from 1 September 2020 via efiling.

Auto assessments will be based on data received from employers and third-party data providers (e.g. medical schemes and financial institutions) – if you have not received your IRP5/IT3(a) or any other tax certificates for the 2020 tax year, you should contact your employer, medical scheme, RAF or other financial institutions.

NB! It is important that the auto-assessment is reviewed before accepting as the onus is on the taxpayer to ensure that this assessment is 100% accurate. Please advise us if you receive any communication from SARS directly to assist you with this new process and to ensure your 2020 affairs have been correctly assessed.