SARS e-filing is open! Here’s what you need to know…
Tax practitioner Ronald Matande shares common mistakes taxpayers make.
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702 and CapeTalk’s Africa Melane speaks with Ronald Matande, a tax practitioner at the Financial Planning Institute of South Africa (FPI).
Listen below:
Individuals who were not auto-assessed by SARS can begin their e-filing process for the annual tax season.
You have until 20 October to review your assessment (auto or manual) and accept it so your return can be finalised.
RELATED: Auto-assessment and e-filing tips to avoid scams & get through tax season like a pro
Common mistakes include blindly accepting the assessments without reconfirming the information and figures.
“... have a closer look at those auto-assessments before blindly accepting them.”
– Ronald Matande, tax practitioner - Financial Planning Institute of South Africa
Forgetting to declare any additional source income can also come back to bite you.
This includes freelancing, rental income, gambling wins, etc.
“If SARS eventually gets wind of this income that is coming through that you didn’t declare, it can result in big, big penalties..."
– Ronald Matande, tax practitioner - Financial Planning Institute of South Africa
For more information, visit the SARS website.
Scroll up to the audio player to listen to the discussion.