The tax season which usually commences in July each year will now begin effectively during September 2020 as SARS implements a more automated solution for tax assessments.

Many taxpayers will be assessed automatically this year and tax returns will be completed with relevant information from one’s employer, bank, medical scheme, retirement annuity administrator and other third parties.

However, taxpayers are advised that the assessment may not pick up on all expenses or donations that can be deducted and therefore one should scrutinise the assessment carefully and ensure that all pertinent expenses are considered.

Examples of the expenses that will not form part of the auto-assessment include amongst others:

• Donations made to qualifying organisations;
• Travel allowance claims;
• Medical expenses not settled by a medical aid scheme; and
• Qualifying home office expenditure.

Important dates to remember if one is not auto-assessed:

• 1 September – 16 November: Taxpayers who file online via eFiling or the SARS MobiApp
• 1 September – 22 October: Taxpayers who cannot file electronically can file at selected SARS branches by appointment only.
• 1 September – 29 January 2021: Provisional taxpayers who file via eFiling

It is recommended that you engage with your tax consultant before accepting the automatic assessment from SARS.

Aneesa Khan | Finance Manager