Important Updates for Tax Season 2023: Filing Dates and Auto Assessments

Attention all taxpayers! The upcoming tax season for 2023 is fast approaching, and it’s time to stay informed about the latest updates and deadlines. The South African Revenue Service (SARS) has introduced some important changes to simplify the tax filing process for individuals (both provisional and non-provisional taxpayers) and trusts, there are some important updates to take note of for Tax Season 2023.

Here’s what you need to know:

Filing Start Date: Mark your calendars for Friday, 7 July 2023, after 8 pm. This is the day when individuals and trusts can begin filing their income tax returns. By starting early, you’ll have ample time to gather all the necessary documents and information required for a smooth filing process.

Auto Assessments: SARS is embracing technology to streamline the filing experience. Starting from Friday, 30 June 2023, selected taxpayers will receive SMS notifications directly from SARS regarding their auto-assessments. This means that SARS will proactively calculate your tax liability using the information available to them. It’s important to carefully review your auto-assessment for completeness and accuracy. You can access your auto-assessment through the convenient SARS channels such as the SARS MobiApp or SARS eFiling.

Amended Returns: In case you disagree with the outcome of your auto-assessment, there’s good news. SARS has extended the deadline for filing amended returns this year. You now have until the normal filing season deadline, which is 23 October 2023, to submit your amended return. This is a change from the 40-day limit allowed in previous years. The extended deadline provides you with more time to review your assessment, make necessary corrections, and ensure your tax return accurately reflects your financial situation. It’s crucial to meet your tax obligations on time and accurately to avoid any unnecessary penalties or delays. Take advantage of the early filing start date and the convenience of auto-assessments to simplify your tax filing process.