SARS tax returns 2024 - What You MUST Know!

Tax returns 2024 and auto assessment South Africa Explained!!
Welcome to SA Accounting Network! In this video, we cover everything you need to know about the 2024 Income Tax Filing Season and SARS Auto Assessments and 2024 personal income tax returns. Stay informed and prepared with these key points:
📅 When to Expect Auto Assessments:
Find out the timeline for when SARS typically issues auto assessments and the key dates for 2024.
🚫 When You Won’t Receive an Auto Assessment:
Learn about the conditions under which you won’t receive an auto assessment and examples of situations requiring a manual assessment.
✅ What to Do When You Receive an Auto Assessment:
Step-by-step guidance on how to review and respond to your auto assessment, including what to do if you agree or disagree with it.
⚠️ Dealing with Scams:
Stay vigilant! Discover common scams related to SARS assessments, how to identify and avoid them, and the official communication channels of SARS.
🔗 Additional Resources and Tips:
Need help with your tax return? Check out this listing website www.sataxreturns.co.za
Make sure to like, share, and subscribe for more valuable content! If you have any questions or comments, drop them below, and we’ll be happy to help.
Useful Links:
www.sars.gov.z...
0:00 introduction
1:26 important dates for tax filing season
2:04 What are SARS auto assessments?
3:37 When will SARS issue an auto assessment
4:19 What must you do when you receive an auto assessment?
5:05 What additional income and expenses can I claim on my tax return?
8:48 When wont you receive an auto assessment?
10:12 When can you expect a refund from SARS?
13:25 Some SARS scams and what you must do
#SARS #TaxSeason2024 #IncomeTax #TaxFiling #SAAutoAssessments #TaxTips #SAAccountingNetwork

[@ndivhuwomudau1314]

This is my first year working but have not been selected for auto assessment and it says that i have additional information to declare. I don't have any other source of income so what do i do?

[@SAAccountingNetwork]

Wait for the 15th and request your return then see what they have on their side

[@user-oz7qi4wy1d]

My company pays me 6700rand do I have anything in return that I should get from SARS😊

[@michellebellringer2937]

I'm trying to find out if you don't get notice first thing in the morning is it possible it will still be done that day. Nobody seems to know the answer.

[@SAAccountingNetwork]

They are issuing them daily until the 14th

[@ElaineGreyling]

Good day, I've been auto-assessed, but on my assessment, it shows my husband's bank interest and his medical aid, I am on his medical aid. Also, I cannot click the "no" button. "Did you receive any interest (local and foreign), distributions from a Real Estate Investment Trust (REIT)/ Taxable local dividends, taxable foreign dividends, and or dividends deemed to be income in terms of s8E & s8EA (excluding amounts received as a beneficiary of a trust(s), or deemed to have accrued in terms of s7)?" Because I did not receive any interest in that. What can I do? Please assist. Thank you

[@SAAccountingNetwork]

Oh dear, you might need to make an appointment with SARS or maybe a tax practitioner to assist

[@BusiB-h3f]

Can I submit income tax more than once? Say I have an IRP5 missing and can only receive it later. Can I file twice?

[@SAAccountingNetwork]

You can, but better to follow up on the missing IRP5 first, otherwise you are making a false declaration

[@summaiyaebrahim2922]

If ai have been auto assessed I the previous years, does it mean I will be auto assessed this year aswell? Also, if I'm happy with my auto assessment do I just wait for the funds to be paid to me on the 3rd July?

[@SAAccountingNetwork]

If nothing changed ito employment then you should receive an auto assessment yes

[@khadijabaiyant8012]

I'm concerned about this auto assessment, it's charging me tax which it's never done before. It shows an overtime amt. I've never been given any overtime. What am I doing wrong????

[@SAAccountingNetwork]

Contact your employer, ask why they declared overtime

[@joshuagxekwa]

Please do a video about How to access Customs Registration, Licensing and Accreditation on SARS eFiling

[@SAAccountingNetwork]

Yes, that is quite complex get there

[@joshuagxekwa]

@@SAAccountingNetwork indeed , hopefully you will do a video soon 🙏🏿

[@nyembes]

Hi there love the video very clear, clean and insightful. Just a quick question. What steps should you take if you’re unhappy with the assessment?

[@SAAccountingNetwork]

Then request a correction on your return

[@tshilidzikhakhu9282]

Thank you for the answer. Can you please give directions on how to request a correction on the assessment. Thanks

[@Juanitavdm]

What would the percentage of my additional income be that I must put aside for tax?

[@SAAccountingNetwork]

Depends in which tax bracket you are, best to consult with a tax practitioner www.sataxreturns.co.za

[@tedmamphaga900]

I think I overpaid tax due to overtime and I don’t agree with the auto assessment, how do I go about challenging it?

[@SAAccountingNetwork]

You would need to contact SARS or ask a tax practitioner to review it for you

[@ElizabethSithole-y3z]

I have been auto assessed and i recieved a message says i should update my banking details but am struggling to do. When i log in it keeps redirecting to the page where i apploaded my documents. Pls help

[@SAAccountingNetwork]

Best is to contact SARS directly

[@DikelediMaota]

Sars auto assessed me last year. I have been paying to doctors so what should I do to let sars know

[@SAAccountingNetwork]

Best would be to ask a tax practitioner to assist and see if you will be able to claim something back

[@dieketsengjulia5]

I received the email to show that shows the auto assessment but the statement shown i dont understood, can SARS deduct from my UIF money??

[@SAAccountingNetwork]

No, UIF is not relevant for SARS

[@zwivhuyaramakuela2491]

Hi. I was auto assessed and when I verify my banking details I find out that they've put banking details of my other account that I wasn't using to earn my salary. But it is still active. Is there a need to change to the one that I was using to earn my salary?

[@SAAccountingNetwork]

If the account is still open then no need

[@thembadubazana7791]

Good morning Sir, if they did an auto assessment on my behalf and they owe me then pay, can i submit again on the 15th of July or not ?

[@SAAccountingNetwork]

Yes you can file a correction

[@sandisempambane6226]

I've updated my banking details because the one they had is old and closed. When will refund appear in my bank account?

[@SAAccountingNetwork]

They normally issue a letter confirming the bank details update, then 72 hours, if money is not paid out then contact SARS again

[@chantelzeelie5091]

Hi, When will they be sending SMS notifications for auto assessments.

[@SAAccountingNetwork]

See they started from yesterday, but they will be isssuing until the 14th

[@renelangenhoven6821]

I have been auto assessed, and it shows that SARS owes me, but on my account balance it shows R0. Do i still get a refund?

[@SAAccountingNetwork]

If your account balance is 0 then I dont think there is a refund due

[@personalcareerbeginningtoe7307]

Hi sir I got the auto assessment sms. And there’s money that sars owe me. So does that mean all is well I must just wait for sars to pay me and when can I expect the money to be in my account that sars owe me?

[@SAAccountingNetwork]

That is correct yes, they say 72 hours, if not then phone SARS

[@pumzapholwane7480]

Good afternoon, do you declare income from early retirement?

[@SAAccountingNetwork]

Yes you would have to, but there should be an irp5 for that

[@kgomotsotlhapane1161]

Evening, I have been auto assessed in the previous years but as I checked today if it's still that way, it says I'm not eligible for auto assessment. Does this mean I have to file it myself?

[@SAAccountingNetwork]

I see SARS is very slow this year to issue the auto assessments, wait until 14 July, if nothing by then then submit a return when the filing season opens on the 15th

[@kgomotsotlhapane1161]

@@SAAccountingNetwork Okay, thank you for your response.

[@CARSwithLwazi]

Hey I just received my IT3a from my employer, should I go and claim. And the Income taxable, is it the money that I will receive as a return or? Thank you

[@SAAccountingNetwork]

If they deducted tax you might be due for a refund

[@ThembalethuXulu]

Goodafternoon sir what must I do if lwant to updated my cellphone number en banking deals

[@SAAccountingNetwork]

Contact SARS call centre, they will walk you through the steps

[@Juanitavdm]

Foreign income (side hustle income) via paypal I assume must also be declared, is it correct if I withdraw it as "gift" payments?

[@SAAccountingNetwork]

You would need to declare it yes

[@andiswaponer8640]

How does one declare it ?

[@edithsteyn-xz6me]

My son got auto assessment today with a refund due , how does he now declare a non taxiable donation from his Grandpa as it must be declared. The 20pct has been paid to SARS as he has a letter stating psyment done, regards

[@SAAccountingNetwork]

He must request a correction and declare it in the section for non taxable income received

[@edithsteyn-xz6me]

@@SAAccountingNetwork a huge thank you , blessings

[@user-kj1vd1id1i]

Good day sir thanks for helping, l get a message for a refund and 2 days after for hold it back due to outstanding returns of 2017/2019/2021 what must l do from here l am currently unemployed for 10 months

[@SAAccountingNetwork]

Make an appointment to go see SARS, phone the call centre, file the returns when you are with the consultant

[@DigItProtea]

Hi, would Sars receive data from Easy Equities?

[@SAAccountingNetwork]

Am sure they will yes

[@sinalozulu7466]

Hi sars auto assessed me but when i log on the app the is 0.00 that means there is no money due to me?

[@SAAccountingNetwork]

That is correct yes

[@vanessastewart4759]

Hi, sars auto assesses me, i am happy the refund, but when i wantbto submit the form it says unsuccessful

[@SAAccountingNetwork]

Just leave it, no action required from your side, wait for the refund

[@bettinamaritz8603]

@@SAAccountingNetworkquestion answered, thank you

[@thakhanimasia740]

hi, Sars auto assessed me, the is a refund due to my name when can i expect money in into my account

[@SAAccountingNetwork]

It normally pays out within a week or so

[@tashchibaya3823]

Hi So if I received my auto assessment and I’m happy with it, no complaints. I don’t have to take ANY action at all? I can just sit back and wait 72 hours and it’ll come in?

[@SAAccountingNetwork]

That correct yes

[@DaTAlab1193]

HI, Sars auto assessed me and say i owe them , and I'm unemployed for a year with no income how is that possible and its a lot of money. please if you may advise Sir, thank you.

[@SAAccountingNetwork]

That is very odd, maybe consult a tax practitioner so they can have a look - www.sataxreturns.co.za

[@DaTAlab1193]

@@SAAccountingNetwork Thank you i will follow it up.

[@samanthadutoit1247]

I pay R4200 as my contribution to my medical-aid and my Company pays R4200. Should i get some money back? ❤

[@SAAccountingNetwork]

Depends on how much you earn, its quite a complex calculation

[@LoliBongani]

Hi i was auto assessed on the 2nd of july for 11000 something and also i owe them 500 .. this morning i received a text that the money is with held now until i sort the penalty .. Dear Taxpayer, Your Income Tax refund for ...... is on hold due to: 1.Outstanding returns for 2023. 2.Outstanding administrative penalty payments. Please submit outstanding returns. The refund will be utilised to fully or partially settle the administrative penalty account. Your banking details will be verified once these matters have been rectified.

[@SAAccountingNetwork]

You would need to file 2023 first, then they normally deduct the penalty and pay out the rest, then contact SARS to update your banking details

[@jasonstrauss9156]

The sars app doesn't seem to work

[@SAAccountingNetwork]

Think their systems were a bit overloaded the past week