SARS tax season: Everything you should know

This week, the South African Revenue Service (SARS) announced the filing dates for the 2024 tax season.

The dates are:

• Individual taxpayers (non-provisional): Monday, 15 July to Monday, 21 October 2024.
• Provisional taxpayers: Monday, 15 July 2024 to Monday, 20 January 2025.
• Trusts: Monday, 16 September 2024 to Monday, 20 January 2025.
• SARS will issue auto-assessment notices to individual (non-provisional) taxpayers from 1 to 14 July.

The auto-assessment process started two years ago. More than 3.5 million taxpayers were auto-assessed last year.

The assessment is based on the data provided to SARS by employers, financial institutions, medical schemes, retirement annuity fund administrators and other third-party data providers such as estate agents.

Also read: More spiking incidents reported at these hotspots

SARS collected R2.07 trillion in gross tax revenue in 2022/23 and paid refunds worth R381 billion, 18.7% or R60 billion more than the prior year.  

Meanwhile, SARS issued an alert this week, warning taxpayers that these details are important for its auto-assessment processes, with these assessments rolling out from 1 July 2024.

This means taxpayers have until 30 June to correct and update their details.

If these banking details are not correct at the time of the auto-assessment, and refunds due will not be successfully processed and taxpayers will have to get in contact with SARS.

heck your bank details on the SARS system

• Login to sarsefiling.co.za
• Click on ‘SARS registered details’
• Click on ‘Maintain SARS Registered Details’.
• Click on ‘My Bank Accounts’ to view your bank details.
• If correct, you are all set to receive a refund in your bank account (if due to you)

If your banking details are incorrect or have changed:

You can edit/change the bank account details while still on the ‘My Bank Accounts’ screen. Remember to click on ‘Done’ and then ‘Submit’ once you have updated the details.

Check your registered details on the SARS system

• Login to sarsefiling.co.za
• Click on ‘SARS registered details’
• Click on ‘Maintain SARS Registered Details’.
• Select the item you want to update:
  • My Addresses
  • My Bank Accounts
  • My Email Addresses
  • My Trading Name Details
  • My eFiling Security Details

If correct, you are all set to receive communication from SARS. If your details are incorrect or have changed, you can edit or change these details as well.

Click here to register or log in for your eFiling.

ALSO READ: Warning: Spiking hotspots now on main routes

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