From Dewald’s Desk – August 2020 – SARS Auto Assessments
Are you puzzled by SARS’ auto assessments?
Have you heard that SARS will be completing some taxpayers’ submissions automatically? SARS collect the electronic data from third parties where only little input is necessary from the individual. SARS will send a notification to your phone where you can review your precompiled assessment via efiling or SARS’ mobiApp.
Before hitting the ‘ACCEPT’ button on your auto assessment, be aware that the onus still lies with the taxpayer to ensure all the preloaded data on the auto assessment is accurate and complete by checking your own certificates against the auto assessment from SARS.
Neglecting and failure to check the data that it is correct, may be deemed by SARS as a deliberate attempt to evade tax and could result in stiff penalties.
Be on the watch out for the following issues or omissions on SARS’ side:
- People who are employed may earn extra on the side from gigs, property rentals or other sources of income.
- Individuals who are self-employed and have received taxable earnings exceeding R83,100 in the 2019/2020 tax year, will be considered Provisional Taxpayers and must declare this income as SARS will have no record of it
- Log book mileage against one’s travel allowance, that can only be captured from an employee’s own records.
- Donations for which no tax certificate has been loaded on the return.
Still, most of us aren’t equipped to handle the complexities of taxes, especially when having to deal with more than a single source of income or are trying to maximise returns and ensure complete accuracy.
If you are smart, or want to ensure that you or your business tick all of the boxes, hand things over and let the expert assist
Do you need any assistance on handling your auto assessment? Do not hesitate to get in touch.
