SARS tax returns 2024 - What You MUST Know!

Рет қаралды 11,513

Күн бұрын

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.za/types-of-tax/...
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

Пікірлер: 76

@nyembes 19 күн бұрын

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 18 күн бұрын

Then request a correction on your return

@tshilidzikhakhu9282 17 күн бұрын

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

@chantelzeelie5091 24 күн бұрын

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

@SAAccountingNetwork 23 күн бұрын

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

@summaiyaebrahim2922 28 күн бұрын

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 25 күн бұрын

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

@zwivhuyaramakuela2491 21 күн бұрын

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 19 күн бұрын

If the account is still open then no need

@Juanitavdm 24 күн бұрын

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

@SAAccountingNetwork 23 күн бұрын

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

@ndivhuwomudau1314 18 күн бұрын

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 18 күн бұрын

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

@user-oz7qi4wy1d 15 күн бұрын

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

@kgomotsotlhapane1161 22 күн бұрын

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 22 күн бұрын

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 22 күн бұрын

@@SAAccountingNetwork Okay, thank you for your response.

@pumzapholwane7480 17 күн бұрын

Good afternoon, do you declare income from early retirement?

@SAAccountingNetwork 2 күн бұрын

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

@personalcareerbeginningtoe7307 20 күн бұрын

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 18 күн бұрын

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

@ElaineGreyling 10 күн бұрын

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 2 күн бұрын

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

@dieketsengjulia5 18 күн бұрын

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 18 күн бұрын

No, UIF is not relevant for SARS

@michellebellringer2937 21 күн бұрын

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 18 күн бұрын

They are issuing them daily until the 14th

@Juanitavdm 24 күн бұрын

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

@SAAccountingNetwork 23 күн бұрын

You would need to declare it yes

@andiswaponer8640 17 күн бұрын

How does one declare it ?

@joshuagxekwa 19 күн бұрын

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

@SAAccountingNetwork 18 күн бұрын

Yes, that is quite complex get there

@joshuagxekwa 18 күн бұрын

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

@CARSwithLwazi 22 күн бұрын

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 22 күн бұрын

If they deducted tax you might be due for a refund

@sinalozulu7466 23 күн бұрын

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 23 күн бұрын

That is correct yes

@thembadubazana7791 17 күн бұрын

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 16 күн бұрын

Yes you can file a correction

@DigItProtea 28 күн бұрын

Hi, would Sars receive data from Easy Equities?

@SAAccountingNetwork 28 күн бұрын

Am sure they will yes

@vanessastewart4759 23 күн бұрын

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

@SAAccountingNetwork 23 күн бұрын

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

@bettinamaritz8603 21 күн бұрын

@@SAAccountingNetworkquestion answered, thank you

@sandisempambane6226 15 күн бұрын

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

@SAAccountingNetwork 2 күн бұрын

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

@thakhanimasia740 23 күн бұрын

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

@SAAccountingNetwork 23 күн бұрын

It normally pays out within a week or so

@edithsteyn-xz6me 21 күн бұрын

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 21 күн бұрын

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

@edithsteyn-xz6me 21 күн бұрын

@@SAAccountingNetwork a huge thank you , blessings

@ThembalethuXulu 13 күн бұрын

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

@SAAccountingNetwork 2 күн бұрын

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

@renelangenhoven6821 18 күн бұрын

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 2 күн бұрын

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

@user-kj1vd1id1i 17 күн бұрын

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 17 күн бұрын

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

@DikelediMaota 20 күн бұрын

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

@SAAccountingNetwork 19 күн бұрын

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

@DaTAlab1193 23 күн бұрын

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 23 күн бұрын

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

@DaTAlab1193 23 күн бұрын

@@SAAccountingNetwork Thank you i will follow it up.

@tedmamphaga900 13 күн бұрын

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 2 күн бұрын

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

@khadijabaiyant8012 13 күн бұрын

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 13 күн бұрын

Contact your employer, ask why they declared overtime

@jasonstrauss9156 21 күн бұрын

The sars app doesn't seem to work

@SAAccountingNetwork 18 күн бұрын

Think their systems were a bit overloaded the past week

@tashchibaya3823 21 күн бұрын

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 21 күн бұрын

That correct yes

@LoliBongani 21 күн бұрын

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 21 күн бұрын

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