SARS 2024 tax season dates:
15 July 2024 to 21 October 2024: individual (non-provisional) taxpayers
15 July 2024 to 20 January 2025: provisional taxpayers
If you earn less than R500 000 in a year, and fulfill a series of complicated criteria, you may not have to file a tax return in 2024.
However, we advise you to take GREAT CARE here, and understand your duties properly, because if you don't, you may suffer for it later on.
Here are the top 5 reasons why you should not skip filing your tax return this season:
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SARS has reported a rise in eFiling profile hijacking, involving various methods such as altering security details, creating, or modifying taxpayer profiles, and executing SIM swaps.
The hijackers’ objectives are to redirect tax refunds to fraudulent bank accounts, which they are setting up for this purpose. There are certain banks which appear to feature more frequently.
If you are the victim of such profile hacking, you must immediately report this fraud via the
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In today's digital age, social media influencers wield significant influence and often enjoy lucrative partnerships with brands. However, amidst the glitz and glam, it's crucial for influencers to be aware of their tax obligations. In this blog post, we'll explore the tax consequences that social media influencers need to consider in South Africa.
Understanding Tax Obligations
As a social media influencer in South Africa, it's essential to recognize that...
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The CIPC recently (1 April 2023) implemented a new register called the Beneficial Ownership (BO) register in an attempt to establish who owns or exercise control over which companies.
In layman’s terms, BO in respect of a company means, an individual who, directly or indirectly, ultimately owns that company or exercises effective control over that company for tax or financial purposes.
This new register is to assist law enforcement with relevant information when it comes...
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It seems that dormant companies are on SARS' radar.
If you registered a company with CIPC some time ago and forgot about it, that company could land you in hot water with SARS. Read more to find out what the financial repercussions could be and why you should get a hold on the situation.
A dormant company is classified as a company that has not actively traded for the full year of assessment. Because there is no activity in the compan...
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This year, SARS has once again ‘auto-assessed’ a large number of taxpayers. They have done this using data that they have received from 3rd parties, such as employers, financial institutions, medical schemes and retirement fund administrators.
If you have been auto-assessed, you should receive an email or SMS from SARS within the first few weeks of July. If your auto-assessment shows that you are due a tax refund, we are seeing SARS pay out these refu...
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For months, SARS has been clear about its plan to clamp down on crypto investors. While many may be under the impression that crypto is going under the radar, SARS is firmly taking the position that it is not.
With luxury audits being the order of the day, SARS is continuously looking into those who live luxurious lifestyles, particular those who own luxury cars and crypto assets, without declaring their income to the revenue service.
In many cases, this income pertains to the...
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In the past SARS needed to prove that a taxpayer had committed a tax crime “willfully and without just cause” but the legislation has just been changed. The court can now find you guilty of a tax crime even in cases of negligence or even in a case where the taxpayer may have made a mistake.
The amended law separates non-compliance into two groups: the first is where the taxpayer’s intention is not considered, and the other group is where the taxpayer’s intentio...
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Why must I pay tax, I don’t earn enough! Will I get a penalty if I don’t disclose all my income to SARS?
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From the 25th October 2019, the printed Tax Clearance Certificate (TCC) will be substituted by the electronic Tax Compliance Status (TCS). This new digital version of the TCC allows for a more secure experience.
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Do Your Tax Return Easily