06 May 2020

SARS Tax Season 2020

The SARS commissioner has announced changes to the 2020 tax filing season. Below are the proposed phases and dates. The full press release is available here.

PHASE 1 – 15 April – 31 May 2020

This will be the period that employers are required to complete the EMP501 and IRP5 certificate reconciliations to SARS. During this period 3rd party data will be gathered, this would include interest earned, medical aid and retirement annuity contributions. 

PHASE 2 – 1 June – 31 August 2020

During this period various individuals will be notified by SARS regarding auto assessments. The auto assessments will only contain data that SARS is able to obtain from third parties. This being, IRP information, interest and investment income as well as medical aid contributions and expenses. SARS aims to assess a certain portion of the more “basic” tax returns without the taxpayer submitting anything. They will then provide the taxpayer with the option to accept or decline the SARS assessment.

It goes without saying that there will be certain information that SARS is not able to obtain such as travel details, additional medical expenses, trade income and extra deductions to name a few. Individuals who are not auto assessed will have the opportunity to file early as long as their third party data is updated and correct. (i.e. your employer IRP5 is uploaded)

PHASE 3 – 1 September – 31 January 2021

Taxpayers who have not accepted the auto assessment or who have not filed yet can now submit their returns.

SARS Tax filing deadlines:

  • Non provisional taxpayers – 16 November 2020
  • Provisional taxpayers 31 January 2021

The South African Tax Company Readiness for filing season

In light of the changes to dates announced by the commissioner we have started to prepare our 2020 questionnaire. Clients should receive these by the end of the week. Once we receive the official go-live date from SARS for submissions we will notify all clients.