Employment Tax
South Africa | 2024 individual tax filing season
Summary
The 2024 South African tax filing season for individuals will commence in July 2024. Please see below for additional deadline dates and important information pertinent to the 2024 tax filing season.
The detail
2024 South Africa Tax Filing Season
Tax Filing Deadlines
SARS recently announced that the 2024 individual tax filing season would commence on 15 July 2024.
They have also confirmed the deadline dates as follows:
SARS Auto Assessments
SARS has announced its intention to issue automated assessments to eligible taxpayers from 1 July 2024 to 14 July 2024. This initiative aligns with SARS’s ongoing efforts to enhance access to third-party data from employers and pertinent financial institutions including banks, retirement funds and medical aid providers.
Taxpayers are strongly advised to meticulously review these assessments, bearing in mind that they may not encompass personal income and deductions beyond SARS’s purview. Examples of such exclusions comprise rental income, travel allowance deductions, section 18A donations and additional medical aid expenditure.
Taxpayer Compliance
Given SARS’s persistent commitment to fostering taxpayer compliance, it is anticipated that the tax authority will persist in imposing penalties on non-compliant individuals in the form of monthly administrative penalties for the late submission of outstanding tax returns.
Thus, it is imperative for taxpayers to understand their tax responsibilities and adhere to them correctly and within the prescribed timeframes.
Contact us
For a deeper discussion on the above, please reach out to your Vialto Partners point of contact, or alternatively:
Kesiree Mari
Director – South Africa
Craig Willson
Manager – South Africa