Tax Filing Season Opens 15 July 2024!

Attention individual taxpayers! If you weren’t auto-assessed by SARS between 1 July and 14 July 2024, mark your calendar: you need to submit your tax returns by 21 October 2024. For those who were auto-assessed, don’t forget that you also have until 21 October 2024 to review your assessment and make any necessary corrections if you believe there’s an error.

Maximize Your Deductions

Remember, SARS won’t automatically know about your eligible deductions. If you’ve incurred expenses such as:

– Medical expenses

– Retirement annuity contributions

– Home office expenses (only allowable under specific conditions)

– Qualifying donations (proof required)

– 25% of the cost for solar panels (up to R15,000)

– Travel expenses

Make sure to include these on your tax return. If you’re entitled to deductions, you’ll need to submit corrections to ensure you don’t miss out on potential savings.

Get prepared now, submit your return in time and avoid penalties for late submission!