Simplify Your 2024 Tax Season:
Top Tips for a Hassle-Free Experience
Tax Season 2024 has officially begun! To help you navigate it smoothly, we’ve compiled essential timelines and updates for all taxpayers. Fortunately, you don’t have to worry about the details—our team has everything under control. We stay current with the latest tax changes and implement efficient processes, saving you time and money.
“We urge taxpayers to be transparent and accurate when filing their tax returns to enable a constructive relationship with SARS.” — Edward Kieswetter, SARS Commissioner
The filing season opened on July 15 for provisional and non-provisional taxpayers not subject to auto-assessments, covering the tax period from March 1, 2023, to February 29, 2024. Here are five ways we can assist you this tax season:
How We Support You
- Prevent Non-Compliance
SARS has enhanced its detection of non-compliance through advanced technology and data. We ensure you include all income, like rental income, in your returns to avoid potential fraud charges. - Stay Updated on Tax Changes
Our team is well-versed in the latest tax legislation changes. We simplify the filing process, keeping you informed and compliant. - Complete Your Returns Accurately
We make sure all necessary information is correctly filled out to minimize the risk of a SARS audit and ensure quick, cost-effective resolution if needed. - Maximize Your Tax Benefits
We ensure you claim all available tax rebates, deductions, and incentives, helping you avoid overpaying taxes. - Protect Against Scams
We stay alert to the latest scams and keep your information secure with SARS to prevent fraud and identity theft.
Important Tax Dates to Remember
Taxpayer | Timeline | Details |
Auto-assessed individual taxpayers (non-provisional) | Notices sent out by SARS: Deadline: | – Agree with your auto-assessment? Simply make the payment due/await your refund. – Don’t agree with your auto-assessment? Claiming the solar rebate? File a normal return before 21 October 2024. – For auto-assessments issued after 21 October 2024, file a normal return within 40 business days. |
Individual taxpayers (non-provisional) | 15 July 2024 – | – Non-provisional taxpayers earn only wages/salaries (no taxable passive income above R30 000) and pay taxes due via PAYE. |
Provisional taxpayers | 15 July 2024 – | – Companies are automatically provisional taxpayers. – Individuals who earn income other than, or in addition to, a salary/remuneration, on which tax has not been deducted/withheld, are also provisional taxpayers. |
Trusts | 16 September 2024 – 20 January 2025 | – The filing date extension to September is just for the 2024 Tax Season, the usual June/July filing schedule will apply in 2025. |
Key Changes for 2024
Several updates have been made since last year. Contact us to see how these might affect you:
- The number of auto-assessed taxpayers increased to about 4.8 million.
- A 25% solar energy tax credit (up to R15,000) is available for new solar PV panels used from 1 March 2023 to 29 February 2024.
- Pro-rata retirement fund contribution deductions are allowed for tax periods shorter than 12 months.
- Tax-free investment limits and Urban Development Zone deductions have specific changes.
- Updates to the ITR12 Form impacting foreign employment income and Beneficial Owner declarations.
The Bottom Line
Feeling overwhelmed? Don’t worry! Our experienced tax professionals are here to make your 2024 tax season as stress-free as possible. We’re up to date on all requirements and changes, ensuring you have a smooth experience.