The 2021 tax season opens on 1 July 2021
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The South African Revenue Service (SARS) announced that the filing season will open on the 1st of July 2021, for the tax period commencing the 1st of March 2020 and ending the 28th of February 2021.
We kindly urge you to start getting your information ready as The Tax House will be contacting you in the near future to request all of your relevant tax information to enable us to complete your return.
IMPORTANT DATES
1 July 2021 to 23 November 2021 – Non-Provisional taxpayer’s income tax filing season
1 July 2021 to 28 January 2022 – Provisional taxpayer’s income tax filing season
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Please provide us with the information sooner rather than later as we have historically experienced a mad rush of information being sent to us too close to the deadline putting immense pressure on our Tax Team. This means less time to provide you with the best possible advice in keeping your taxes as low as possible.
If we miss the deadline because we have not received your supporting documentation, it could lead to administrative penalties and interest being levied by SARS.
SARS also indicates that they will still be embarking on auto-assessments. This is designed for taxpayers who receive income and deductions which are reflected on tax certificates issued by third parties where these parties submit this information directly to SARS on your behalf.
This process started last year and is designed to streamline and benefit the SARS system and not necessarily to benefit the taxpayer who may forfeit additional tax deductions or exempt income by not seeking specialised tax advice. Our team need to check this information and agree it to your independent records to ensure that the correct information is being submitted on your tax return thereby resulting in an accurate refund or payment calculation.
If you are selected for auto-assessment, you will receive an SMS from SARS. We strongly advise that you do not simply accept the SARS auto-assessments when the filing season opens on SARS eFiling or the SARS MobiApp on 1 July 2021 as explained above. We are here to help and want to ensure that you are as tax efficient as possible.
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CONTACT US!
Feel free to contact our Tax team directly if you have any concerns or require more information and we can set up a Zoom, Teams, or telephone call:
Jonathan Bellingan
Angelique Fouché
Tiaan Grimbeek
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