The tax season officially rolled out this week and the taxman has already indicated that at least six-million taxpayers will be auto-assessed until July 12.
This kind of assessment means the South African Revenue Service (SARS) will make its tax return calculation based on the individual’s information supplied by third parties such as banks, including tax certificates from employers, medical aid certificates from medical schemes and retirement annuity certificates from funds.
Here are some important things you need to know about this process.
- If you want to know if you will be auto-assessed, you will have to visit the SARS website from July 1 and click on “My Auto Assessment Status”.
- SARS will send you the outcomes of your auto-assessment electronically.
- If you agree with the results, there is no further step to take on your part.
- Should you not agree with the auto-assessment, you can complete and file your tax return by visiting eFiling or the SARS MobiApp.
- If a refund or debt is less than R100, the refund or debt is rolled over to the next tax year. This means that such a refund or debt is not payable immediately but remains as a balance on your account until it exceeds R100 and becomes payable.
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