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URGENT SARS DEADLINE: 2022 Individual Filing Season deadline is set for Monday, 24 October

This year, individual tax matters have been processed using auto assessments, which started rolling out on 1 July. To this end, over 3 million individual non-provisional taxpayers were assessed by SARS. #sars #taxreturns #taxfiling #taxseason

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Urgent notice to taxpayers: the 2022 Individual Return Filing Season SARS deadline is set for Monday, 24 October – this deadline has come earlier than usual.

This year, individual tax matters have been processed using auto assessments, which started rolling out on 1 July. To this end, over 3 million individual non-provisional taxpayers were assessed by SARS.

Taxpayers satisfied with the outcome of the auto-assessment do not have to file a tax return – the return will be regarded as submitted and final in that instance.

SARS Deadline: Disputing 2022 Individual Tax Return Auto Assessment

If a taxpayer wishes to dispute or correct the auto assessment due to missing or inaccurate information related to either income or expenses, which may have affected the outcome, the intent to dispute or correct the auto assessed return must declared to SARS within 40 business days of the auto assessment notification. This will be done by submitting a tax return to SARS.

When such a return is submitted – indicating that the taxpayer does not agree with the auto assessment outcome – SARS will process the return and issue a revised assessment. Taxpayers should note that this process may result in a different financial obligation such as a reduced refund, increased refund or payment due to SARS.

If the taxpayer does not agree with the revised assessment, an objection can be lodged via the standard SARS objections process.

SARS Deadline: Penalties for Non-Compliance on 2022 Individual Tax Return and prior year assessments

All Non-Provisional taxpayers who did not receive an auto-assessment and are required to file have until Monday, 24 October to submit their return!

Provisional taxpayers and trust submissions have until 23 January 2023 to file their returns.
According to SARS, all taxpayers with two or more outstanding income tax returns for prior years of assessment who have not submitted their tax returns will be subject to an administrative penalty for failure to comply.
The administrative non-compliance penalty for the failure to submit a return comprises fixed amount penalties based on a taxpayer’s taxable income and can range from R250 up to R16,000 a month for each month that the non-compliance continues.

This new set of procedures is a result of the strong move by SARS commissioner Edward Kieswetter to use data to the revenue service’s advantage. Through accessing data from input sources like employers, banks, medical schemes and retirement annuity funds, SARS can uncover a possible tax rebate without the taxpayer’s input.

“We use data and artificial intelligence to select taxpayers for further auditing or investigation, but we also use data and technology to provide a seamless experience for most taxpayers,” said Kieswetter.

SARS has also been on a crackdown on non-compliance this year, instituting new units that target specific taxpayers with high net worth or those suspected of being involved in financial crime.

Get help with your 2022 Individual Tax Return and meet the SARS Deadline

Get in touch with our Tax and Compliance Consultants today for assistance handling this time-sensitive obligation. You may email us at info@kettleconsulting.co.za or call 011 025 1446 (Johannesburg) and 021 003 8000 (Cape Town)

Insight by:

Justin Kettle

Managing Director

Kettle Consulting (PTY) Ltd

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